Wondering if this is a slight of hand move to get retail out...or if it's really going to happen....
Seems AMER is saying to GMO that they are tired of giving them money for nothing.
AMER has provided the Company with a letter indicating that AMER is considering terminating the Agreement based on alleged uncured material adverse effects and alleged breaches of the Agreement by the Company (which include concerns related to US/China relations, concerns regarding the delay in obtaining environmental permits and solvency concerns). The Company believes such assertions to be inaccurate and wholly without merit.
Should AMER default with respect to its obligation to fund Tranche 3, the Company will have inadequate cash to continue operations and will have to evaluate its options going forward, including pursuing asset sales, short-term financing options and the possibility of seeking bankruptcy protection.
The stock market is an predator / prey scenario where the Companies and their lenders are the predators and retail IS the prey. Play wisely!
