Xechem International Inc. (fka XKEM)

[mordicai]

Obviously that poster is confused and doesn't know the difference between a chartered national and state bank and a lending organization such as UPS Capital. I doubt any American "Bank" could make such a loan under its charter or banking laws. Instead it would have to use one of its non bank subsidiaries to do so indirectly. To use Berg's statement to conclude that UPS is not involved anymore is clearly ridiculous. Whatever entity xkem is dealing with whether it be UPS or some similar lending institution (and non-commerical bank) is not going to make an $8 million dollar loan without the nigerian export import bank guaranty. Basically at this point there is no collateral that can be secured to obtain such a loan. Would you want to solely rely on the value of a building in Nigeria as security for the repayment of a loan you made or on the expectations of account receivables that cannot even be generated until the plant is built? Of course not. Especially if you know the Nigeria Export Import Bank has set up a guaranty program to encourage the making of such loans. You don't make the loan without the guaranty and that ball is in Nexim's court and based on Nexim's timeline and Nigerian statutes. When one considers that Nexim is influenced by if not controlled by the Nigerian goverment, and the fact that Nigeria wants the credit and world wide recognition for this "cure" and to help its people, imho I think the guaranty will be made and xkem gets its loan. Nigeria is not going to let this opportunity pass them by. They need xkem succeed so that Nigerias stature in the world goes up a couple notches. And my hunch is xkem's lending entity might just have wanted to see xkem's authorized shares increased as another condition of making the loan, not for any loan conversion, but just to see xkem have some means to raise money for future loan repayments in case things do not go as scheduled. JMHO.