The price of BakBone Software Incorporated (OTC:BKBO) dropped 1.20% on Friday and closed at $0.3211 per share. Volume also went down, from 2.5 million on Dec. 2, to just 105 thousand.

It will be interesting to see what will happen next, as BKBO stock soared on Nov. 9, when Quest Software announced an agreement to acquire BakBone. BKBO closed at $0.3111 that session with traded volume above 7 million. The announcement stated that Quest expect to pay about $55 million for the acquisition, including the payment of certain debt obligations and net of anticipated cash on hand. In addition the announcement said that BakBone shareholders will receive $0.33 per common share and $1.29 per preferred share after the closing of the acquisition. Consequently the price has been tip-toeing around $0.32 since Nov. 9.

BakBone Software develops and commercializes data protection technologies. They offer scalable data protection solutions to address the demands of large and mid-size businesses on a worldwide basis.

BKBO filed their latest 10-Q form with the SEC on Nov. 15. It reveals that the company has $5.6 million of cash and cash equivalents. On the other hand, BKBO also reported total current assets of $15.4 million and total current liabilities of $54.8 million, nearly four times the assets, which means that the company has a negative working capital of $39.4 million. Additionally it should be pointed out that the company has accumulated deficit of $238 million.

Keeping in mind the information, revealed in the 10-Q, it might be prudent to wait for the finalization of the acquisition, before making a statement for the future of the company.