Aug. 26 at 1:06 PM
$BRQSF - Looking for input from anyone who has dug deeply into the post-Sasken numbers.
Borqs sold essentially its entire operating business to Sasken and reported approximately
$22.5M in net cash proceeds from the transaction.
Yet
$BRQSF is currently trading at a market cap of only roughly
$3–4M.
The old operating business is gone, and the company is now pursuing new opportunities, including the recently announced Faspro Systems technology licensing agreement.
What am I missing?
Where did the
$22.5M in net proceeds go, and what is the actual cash/net asset position of BRQSF today?
Not suggesting the 99% decline automatically makes this cheap — it doesn’t. But the apparent gap between the post-sale assets and current market cap certainly deserves a closer look.
Anyone done the balance-sheet math or followed the company closely enough to explain the valuation?