So then this is not a PP is it, since no shares were placed in private hands, or no arrangement for shares has been set up? Instead, this is merely private funding.
"The $1 million is invested directly into NewMarket China as a bridge loan pending the independent public listing of the Company. This direct investment alleviates any need for NewMarket Technology to sell additional equity to financiers to advance the development of NewMarket China."
"The $1 million investment has been made by a private investment group formed for the specific purpose of investing in NewMarket China. The $1 million is invested directly into NewMarket China as a bridge loan pending the independent public listing of the Company. This direct investment alleviates any need for NewMarket Technology to sell additional equity to financiers to advance the development of NewMarket China."
A bridge LOAN alleviating any need for selling of additional equity are the operative terms here. No shares are being placed anywhere, just funds that will need to be paid back. Now, it would be nice to know the interest rate being paid for this loan. And, of course, at any point in time I would assume PV could make newer arrangements in which he uses shares to pay the loan back like in a convertable debt - but I hope not.
All IMO, of course.
