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Thursday, August 16, 2001 7:50:22 PM
I don't doubt that the timely drop in the stock to the low .20s helped foster the PP. If we find that it is the money needed to kick this into high gear and capitalize on all the sales/marketing leads being discussed and that the remaining dollars will get to the SEVU pot sooner than later then we have the cash to move forward, maintain control via the current team, and affect positively our holdings. If we can't get this off the ground and soaring in less than two years, likely the minimum a restriction would last, then we will be long gone before then and the PP holders will be trying to get even themselves.
As someone else suggested, it is likely that some earnst money's are in and if they don't keep on schedule their opportunity will expire. Don't expect that the deal can be taken off the table if both sides keep to the agreement. Pricing will likely not be on a sliding scale - one of the bets each side makes. As I've said before I'm not crazy about the deal due to size and value (unless I had a piece of it!!) but with everything else going on these days it may have still been the best financing opportunity that gets us past the negative cash flow and on to the forever green pastures.
zagdad
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