"Binding Letter of Intent" is a SCAM!
"Binding" refers to an agreement or promise involving an obligation that cannot be broken.
"Intent" means having an aim, intention, purpose, objective, goal, target, design, plan, scheme, wish, desire, ambition, idea, aspiration and etc. All of these refer to mental states but do not constitute an unbreakable obligation.
A "Binding Letter of Intent" appears to be a piece of paper that irrevocably commits you to a negotiated course of action, if you don't decide the conditions aren't favorable and therefore walk away. This is why we take out mortgages to buy homes and loans to purchase cars..these agreements aren't aspirational; you either fulfill your duties under the contract or face legal consequences.
Cyclone has written a number of Letters of Intent, but none seem to actually result in an actual transaction....demonstrating that Letters of Intent aren't binding; at least they aren't when made with Cyclone.
This just sounds like more happy sounds created with the intent of trying to convince the faithful to ignore a decade of worthless announcements, prognostications and promises.
