Friday, February 16, 2024 12:53:44 PM
I would expect Lawrence has a plan in place of course. I'd have to expect that Lorton entities might have been provided some insight there in order to support the deal. IMO owner financing was last resort stop gap to close in lieu of not able to secure lender straight out. Lorton gets everything back if ECSL doesn't come through.
Push the can down the road 6 months for a big payment, give Lorton another pile of shares to do it and another discounted pile of shares for cash to include in the deal from the Laconia crowd as outlined on the disclosure.
I would expect to see partnerships/land deals to raise the money to pay the mortgage and lay foundation for more. ECSL at EOQ still no operating cash worth mention. And no indication of what revenues are to be expected from the canal. And assuming $2.5 million in debt with no indication of terms but it is listed in current liabilities for accounts payable which kinda makes it sound like it is more immediately payable vs a loan type situation payable over time.
The stock predictions ... LOL .... not worth time to read them ... no basis. Just playtime for some.
Yeah .... It boils down to definitive deals. The only thing definitive thus far is the completion of the Lorton deal ..... and Trucking Tower isn't killing it for additive sales.
Multiple other items mgmt has insinuated haven't come to fruition either. Mabanaft turning into partnership or some other definitive business arrangement should be expected at this point. They are fully capable and surely have the money and expertise. Although ... "partnership" implies that they are buying into something which likely means ESCL you and I get a smaller piece (more dilution in different form).
We shall see. I expected to see more by now from ECSL.
Amigo Mike
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