Seems like a decent deal for us, but then again you have to wonder why there has seemingly been no other interest
All I know of Halo is that they have a filtration system to remove lead from tap water, still a big issue in the USA apparently.
Halo shareholders are not going to receive a penny of the proceeds of the sale… Will they agree to it?
I was advised many years ago never to invest in US companies listed on AIM. I was told they only list on AIM because they would not pass scrutiny in the US. If you have a look at the record of US companies on AIM it has proven to be sound advice.
“Strix (or its wholly owned subsidiary) will acquire HaloSource Water Purification Technology (Shanghai) Co. Ltd., the Company’s wholly owned subsidiary in China, along with substantially all of the assets of the Company’s US subsidiary, HaloSource, Inc. Under the terms of the Offer, the Company will receive, on Completion, a cash payment of approximately U.S.$1.3 million, including an advance of funds to the Company for working capital purposes of approximately U.S.$0.1 million by way of an unsecured promissory note.
The book value of the assets expected to be sold at 30 June 2018 was approximately U.S.$2.8 million. For the six months to 30 June 2018 those assets incurred a loss of approximately U.S.$3.7 million and for the year to 31 December 2017 a loss of approximately U.S.$5.3 million.”