TheGlobe.com Inc (TGLO)

[U2C2]

Interested to get thoughts on this:

Comments have been made about Delfin filing a lawsuit which could potentially drag for a long time. Asking for an administrative remedy is a much more expeditious way to potentially resolve things.

Here is the link to the code section outlining the relevant procedure:

https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title33-section1504&num=0&edition=prelim

Briefly, here is my interpretation :

33 USC 1503, specially (c) & (e), defines applicable deadlines subject to the administrative remedies outlined in 33 USC 1504. It looks like Delfin is entitled to a meeting within 30 days of submitting a request, and it also looks like MARAD is required to report progress to the Committee on Commerce, Science, and Transportation of the Senate, amongst other committees.

Senator Cruz seems to be the ranking member on that committee:

https://www.cruz.senate.gov/about/committee-assignments



Finally a thought regarding the real % ownership of TGLO by Delfin:

Between 2015, when Delfin filed the first paperwork with FERC, and Dec 2017 when Delfin officially acquired 71% of TGLO there were three peaks of unusual volume adding up to around 93M! Hard to know what fraction of those trades ended up in new hands and what fraction is still remaining in those hands. GLTA