The fact that the company is being bought by a company owned by a guy involved in their financial problems makes me say "Hmmm ?"
Heres the Bloomberg entry on Sciens:http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=92117Company Overview
Sciens Capital Management, LLC is an investment firm specializing in direct and fund of fund investments. In direct investments, the firm specializes in middle market, mature, leveraged buyouts, and turnarounds. The firm typically invests in early stage technology companies, development stage technology, and non-technology companies. It prefers to be the lead investor or control investor and seeks to take a seat or observation rights at meetings of board of directors and board committees. Sciens Capital Management, LLC was founded in 1986 and is based in New York, New York with additional offices in Athens, Greece and Ontario, Canada.
Key Executives for Sciens Capital Management, LLC
Mr. Ioannis P. Rigas
Chairman, Founder, Managing Partner, and Chief Executive Officer
Age: 50
Mr. Daniel J. Standen
Partner
Age: 45
Mr. Gordon Buchanan
Partner
Mr. Farhang Mehregani
Chief Investment Officer of Sciens Alternative Investments
Mr. Christopher P. Meyering
Chief Legal Officer and Chief Compliance officer
Heres what they say about the Company founder, (NOTE that he has been involved with Colt since 2003)http://www.bloomberg.com/research/stocks/private/person.asp?personId=197780&privcapId=20357950Mr. Ioannis P. Rigas, also known as John, CFA, is the Founder, Chairman, Chief Executive Officer and Managing Partner of Sciens Capital Management, LLC. Mr. Rigas is responsible for investment selection and execution, portfolio construction, and monitoring, manager selection and development, audit and reporting, and realization of portfolio company investments. He is the Founder and Principal of the Sciens funds of hedge funds business. He serves as the Chairman, Chief Executive Officer and Managing Director of Sciens International Investments & Holdings SA and also served as its President. Mr. Rigas is the Founding Partner of Sciens Venture Partners. He has been a Founder at Zilkha Capital Partners and Member of its predecessor firms for 12 years. Mr. Rigas has been a Manager of Colt Defense LLC and Colt Finance Corp. since 2003. He has directed the Sciens Capital private equity team and completed over 50 investments in portfolio companies with aggregate value in excess of $2 billion. Mr. Rigas has broad experience in alternative assets including private equity, venture capital, structured finance and hedge funds. He has broad experience in the management of alternative assets including private equity, venture capital, structured finance, and hedge funds over a period of 16 years and found the Scienc franchise in 1988. As a Principal and Founder of the Sciens’ fund of hedge fund business, Mr. Rigas directs portfolio construction, investment research, fund operations, and risk management activities. He was employed at E.F. Hutton Group, Inc. Mr. Rigas serves as the Chairman of the Board of Asprey International Limited. He served as the Chairman of Advanced Interactive Systems Inc., and World Access Inc., since December 1999. He serves as a Non Executive Director of SAM Allocator Holdings PCC Limited - The Optimum Alternative Fund EUR Class, SAM Allocator Holdings PCC Limited - The Optimum Bond Diversifier Fund (EUR), SAM Allocator Holdings PCC Limited - The Optimum Equity Fund (EUR), SAM Allocator Holdings PCC Limited - The Optimum Alternative Fund USD Class, SAM Allocator Holdings PCC Limited - The Optimum Alternative Fund Reserved Class I and SAM Trading Holdings PCC Limited - Sciens Dynamic Trading CHF Class. He serves as a Director of Adhesion Wealth Advisor Solutions Inc., Advanced Interactive Systems, Inc., B3 Corp., New Colt Holding Inc., Omniglow Inc., and Total Sports Inc. Mr. Rigas obtained the first level CFA certification in 1991. He received a B.A. degree from Colorado College and studied at New York University as a Fellow.