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Sunday, March 29, 2020 1:08:39 AM
The CARES act, rather than staff up on govt, has designated all private BANKS to serve as administrators of the programs in the CARES Act. It has put aside $625 million to pay banks to do this work.
So all ERHC has to do is go to its bank in Houston and visit with the loan officer there and ask for them to serve as Administrator for some of the programs. The Administrator will conduct any credit check and will know whether ERHC has had at least one year of banking.
And that's it! The bank then has less than 60 days...and in many cases just 1 day...from approval to hand ERHC a check. Just like that.
Same is true of ALL OTC companies. There's so much money that's going to slosh around in the OTC, it's not even funny.
But what is funny is that short sellers are going to get KILLED.
Krombacher
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