I know we've been more silent then we could be, sorry for that but we want things sealed up before release. Some information that we can share:
We have an option to pull out of the Apache deal with no shares exchanged, only the few thousand cash up front would be lost.
However, Apache reports good results so far, for what that's worth.
We will wait until we see it to believe it and we will report our findings.
As far as funding to get Magnatek across the line; look into the Opportunity Zone Tax Incentive created in 2017 by the Tax Cuts and Jobs Act passed by Congress. That is going to be our line of funding. More details to follow.
There has been a slight delay in Rhode Island as we've had to relocate our lab. We have a new site and are moving in, I still can't give an accurate estimate on when the process will be complete.
We have a couple other joint ventures in the works, too soon to say anything about them publicly but once they are in motion I will let you all know.
So that's a lot of balls in the air, nothing confirmed yet. Just want to let you all know Chas and the Company are working, if you are in it for the long haul like I am I am optimistic of a payday, but it won't be as soon as we all would like.
