February 12 at 10:11 AM ·
"These are the steps to complete this deal. We are proceeding with the 3rd step as of tomorrow with an in person meeting with Cigawatt’s management team.
1. Letter of Intent:
* Executed and filed.
2. The Details Prior to Going Public:
* Organizing CW’s financials. P&L statements, liabilities, etc. We’ll need these for an audit during a closing but I’ll have to have reviewed them prior to soft close
* Due Diligence Questionnaire. This is a long, detailed document our lawyers have drawn up that asks questions regarding the CW company.
* LIBE’s Filings. All of the details of our company are publicly disclosed and audited every 3 months. All liabilities to be addressed
* Develop Closing Contract. During this time we’ll determine exactly how the transactions, payments, share structure, etc. All the details of how we do the deal are negotiated before we go to contract.
3. Soft Close:
* Execute Closing Contract. We’ll provide a TBD sum of capital at this point which is exchanged for 100% of CW shares
* CW Audit. We’ll have @ 75 days to have CW audited by a third party auditor.
4. Hard Close:
* Completion of Audit. Once CW’s audit is complete and filed we release the control position to CW and resign the CEO. CW takes
over and elects board members."
