Today's Primary Bid offer is Versarien at 145p - you know I am almost tempted (in a shabby way)

At 175p Versarien (VRS) is valued at £263 million. I cannot argue with two writers on this site (Lucian and Cynical) that the valuation looks absurd based on historic profits and cashburn or even on some of the more optimistic forecasts. But it has now announced it is raising £2.9 million (or more) at 145p via Primary Bid and I am almost tempted to have a flutter. Here's why...

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