XTRA Bitcoin Inc (CBTC)

[tiller]

E-MAIL response....








John Meredith


7:08 AM (38 minutes ago)








to me












Hi Tom




Unfortunately I have been away on holiday (vacation to you statesiders) so, having only got back today, I have a mountain of emails, messages and tasks!




We have been caught by the US banking system being particularly diligent in their compliance tests. Every time we or the fund answer or satisfy their questions they introduce further items to be completed. It is exceptionally frustrating but having spoken at length with both American and international bankers, this is the way banking is progressing (not sure that's the right word!). In terms of timetable - we estimate the current negotiations have taken about 19 weeks!




I am assured that the interim(!) problems have been resolved and that payment will come through in September - I will try and keep everyone apprised. Once funding is finalised things will start to move.




Kind regards

John