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Re: Cward16 post# 109346

Thursday, 08/10/2023 1:28:15 PM

Thursday, August 10, 2023 1:28:15 PM

Post# of 114848
That's right Cward,

Seems rather obvious ..... a lawyer ... who certainly should be considered a credible source .... sending notice to FDEP informing of a sale of the property expected for June 16th. Lorton Lawyer, trustee of estate and named corporate officer of Lorton's company Port Tampa Storage also CC'd as well (Langford). I am actually SUPPORTING the notion that this deal is ongoing as has been my position all along. BTW, the lawyer who authored the letter is an expert on environmental issues and commercial real estate sales involving these types of properties.

But if you take into account Lawrences' updates .... points at lender concerns (complex condition). Not my words .... Lawrence's words.

Bottomline, I'd take the written notice of a lawyer over ... say .... anonymous internet posters claiming there is no deal. I'd like to think there is an update from Lawrence in the not too distant future.

June 2nd

Speaking of fuel storage, the closing on the purchase of the lands and waterway in Port Tampa has been delayed due to concerns regarding environmental issues on one track of the land. These issues have now been addressed. There is one additional issue regarding the repair to the damaged wharf which I’ve discussed previously. We believe that we have overcome this, and we are still moving forward with our Lender and the estate attorneys to get closed as soon as possible.


July 17th

Following up on Shareholders Update last month, we continue to make great progress with the environmental group that was hired by our lender to analyze the complex condition on one of the parcels that we are purchasing. It took nearly 1 year for our own environmental team of experts to analyze the properties, so this time with a third-party doing their due diligence, although frustratingly longer than any of us want, it can be judged as “understood.” As mentioned also last month, CyberFuels has provided the necessary information requested, and sometimes that adds to further questions, but we have recently added an environmental insurance package and “environmental cash escrow” for the lender’s benefit which we feel will eliminate any risk and get us promptly to closing. The other work (Title, Loan Agreements, etc.) has been completed, so like our seller’s attorney said to Ron and me last week when we met him in Tampa, “Come hell or high water, we’re going to get this done.” With the progress made as stated, we expect that the closing is eminent and expect to make an announcement on the closing of the properties in a national Press Release as soon as the transaction is completed.


Amigo Mike