Thanks Sickzone,
Very good info. It would be great if Quang Nam Silk JSC and Ma Chau silk company become involved in this project. I can't see how they will survive the revitalization with subpar silk.
One possibility with financing that I don't believe has been brought up has been the amount of shares sent over to Kenneth Le for "consulting services". It is hard to gauge exactly how many shares he has received because the 10-Q filings never name the consultant the shares are being issued to. But I would venture to guess that Kenneth Le has been given a significant amount.
These shares that he has been issued may be what is being used to get prodigy up and running. Hell, Kenneth might even be allocating a portion of those shares to the co-ops in exchange for their services for now. Making these Vietnamese entities (co-ops, banks, reelers, etc) stakeholders with equity in this project will only strengthen it. And those shares could have easily been transferred to Kenneth with that intention, to set up shop (of course, some of those shares he would keep for himself). So the statement that "KBL has spent millions setting up shop", might not be true.
If this is what's happening, then the question is, what is the disclosure protocol? We've discussed that Kenneth is referred to as a consultant, and not an employee of KBL, so is what he does with the shares given to him grounds for disclosure? I'm not sure. But there is a real possibility that no money has been exchanged yet, and no contract for financing has been signed. The 3 co-ops could now all be shareholders by way of Kenneth Le's "consulting services".
This is just a suggestion. I could be way off base.
-GT
