Monday, May 19, 2014 11:10:16 PM
It gets into lawyer like semantics a little bit but Paul said, "We expect to announce the details of this agreement within a week or two." On March 31st 2014.
Now "expect" does not mean "I promise" but it does imply an "expectation" and if you publicly announce that you expect something by X and it is 3X then Paul should reasonably inform us if negotiations are ongoing or the deal fell through etc (just as he did with semi regular updates on the status of San Felix; anyone paying attention knew more or less what was happening). Shareholders are not promised nor entitled to a successful deal but I do feel we deserved an update at this juncture because of the phrasing of the last PR.
Paul strikes me as more of a doer than an academic and I don't think he plays word games.
Now by the definition of the word expect, yes Paul is not obligated to give us anything, ie: "I expected the deal to come within a week, but it did not." But common courtesy would be to update us after a reasonable time, which he did, and so I am happy. If Paul chose not to update us there are many who take things like this as a knock against the credibility of management, deserved or not.
Hope, believe, attempt, expect, anticipate, look forward to, imagine, assume etc are all words that tend to pop into forward looking statements and contain a lot of wiggle room.
Here is to hoping the deal is with some super large cap we can leach some investors and PR from!
Take care everyone.
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