The failure to consummate the merger is indeed disappointing. But, the shareholder lawsuit should not be taken for anything more than what it was: an attempt by a group of shareholders wildly hoping for Tyhee to sweeten the aquisition price to make the lawsuit go away. The ploy didn't work because there was insufficient time to rework the deal.

The shareholder lawsuit is now moot, and the SFEG shareholders are in a worse situation than before. Private equity investors (if they exist) will likely largely wipe out the existing equity shareholders.

So, all that is at issue presently is $300,000 -- a pittance in the grand scheme of things. Neither Tyhee nor Santa Fe is going to pay more than $300,000 in court costs and attorney fees to get $300,000. This will get settled in some manner. There will be no Pyrrhic victories.

This experience has reminded me something that Rick Rule and/or Brent Cook said: this year, many juniors will run out of money and go bankrupt. If juniors like Santa Fe go bankrupt, equity shareholders will get entirely wiped out. Getting bought out is the only way for equity shareholders to get even pennies on the dollar of their investments.

The trick, of course, is to not be one of those bankrupt juniors.

So, here's my question: did Tyhee not get financing by 15 March 2014 because of the shareholder lawsuit, or was there some unrelated difficulty?

Still keeping the faith,

Old School