Alcar Chemicals Group, Inc. (fka ALCX)

[MrBigz]

Question:

If SIAM has 7.2 million dollars in escrow, and SIAM backs out of the deal, wouldn't it be logical to assume, that ACMG would have a clause keeping part, or all, of that initial 7.2 million?
Then they wouldn't need Siam or any other company to finance them.


The company stated it has received confirmation that the initial investment -- injected by Siam Renewable Energy Group in the form of a convertible loan bearing no interests or capital repayments for 24 months and automatically convertible into shares at the fixed price of $1 per share with the beginning of operations of the first plant -- has now been placed in escrow, awaiting final closing of the definite agreement for release.

MBL