The pr below from yesterday reads “The project is currently slated for a specific property in Puerto Rico”, and “The development phase of the project is anticipated to start in 2017 and continue into 2018". This pr gives the impression that the property is ready to go and the work begins this year.
KALY - Kali Inc Announces $10 Million Caribbean Marina Development Project
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December 7, 2016 - InvestorsHub NewsWire
Kali, Inc. (KALY) today announced a contract with Harbormaster Development to manage the development of a new Caribbean marina. The project is currently slated for a specific property in Puerto Rico. Harbormaster Development has contracted Kali to manage an estimated $10 million development project and to subsequently manage the ongoing marina operation. The contract guarantees a $1 million management fee to Kali for the development phase of the project with various performance incentives that could lead to more revenue. The overall term of the contract is five years with the services agreement transitioning from project management to operational management at the end of the development phase. The agreement between Harbormaster and Kali includes an equity participation option for Kali. The development phase of the project is anticipated to start in 2017 and continue into 2018.
The PR today below shows the forward-looking statement protection needed to enable KALI to cover their butts when we find out the deal falls through. “ It all hinges on the purchase of a property”.
This one gives attorneys what they need to fend off lawsuits. My question is why weren't we told yesterday?, “ It all hinges on the purchase of a property”?
I assume it was so they could raise some cash for themselves
Harbormaster Development looks to build $10M marina
Written by Lorraine Blasor // December 8, 2016 // General Biz News
Hopes of expanding Puerto Rico’s boating industry could get a buoyant lift with the planned construction of a new, $10 million marina. It all hinges on the purchase of a property.
Perfect little scam to lure in investors. Didn't work as well as they had hoped.
