Monday, December 16, 2019 2:09:00 PM
I re-read their prior disclosure in the 3d quarter financials which said the Prom Note maturity date would only be extended "in the event that the Company enters into a term sheet providing for..."
So, to me, this new disclosure saying the date was extended "in accordance with" the prior disclosure seems to indicate that the Board has already signed a Term Sheet.
The further indication that they won't say anything else until they think its appropriate or legally required I take as just a way of trying not to let the cat out of the bag - perhaps to keep the stock price from spiking before a deal is closed. All IMO.
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