Paybox Update (OTC:PBOX)
A lot has happened since I wrote about Paybox (OTC:PBOX) going private back in December. On March 1st they announced they terminated the larger of two agreements with IBM which accounted for about 35% of their revenue. In response to this development, the stock price crashed from ~ $.55 to around $.30 and their CFO resigned. As of a recent filing they've also adjusted the terms of their proposed reverse stock split in order to reflect the termination of one of their IBM agreements. Instead of the initial offer of cashing out holders of record with less than 1,000 shares for $.80, they are now cashing out holders with fewer than 200 shares at a price of $.40. Essentially there is no money to be made from buying 199 shares and cashing them out, however let's see where the stock price of the company goes now that everyone that was in it for the cash out realizes that they own way too many shares that aren't worth close to $.80. I have no position in the company, howeve...