Nymet Holdings Inc. (fka NYMH)

[stock_jock40]

Industrial Bond is what I have seen so far. Have not seen any information regarding a grant.

http://www.perihelionglobal.com/newsreel.php?do=full&id=8





What is the status of the Industrial Revenue Bond issuance for the Biofuel Refinery in Alabama?

The Industrial Revenue Bond funding is available to the company as announced earlier in the year from agreement with investment bank WR Taylor. Of late, some investors may now be aware of the severe liquidity contraction affecting the world credit markets due to the continued fallout from subprime loans. This liquidity contraction has hit the commercial debt market (bonds, loans, etc.) especially hard, causing a large spike in interest rates for commercial debt.

Commercial debt is generally renewed and revalued every 120-180 days on average. Lately, most commercial debt has seen a significant increase on the interest charged on the debt when being revalued. In some cases, commercial debt has been unable to be resold or revalued as a result of the liquidity crisis in the markets. The company is analyzing the ongoing conditions in the commercial debt markets to determine a responsible course of action going forward.

Is the company saying it will not utilize the Industrial Revenue Bond funds now?

No. Not at all. We simply want to acknowledge to our shareholders that many factors come in to play with bond financing, and the company wishes to be able to meet its financial commitments in a responsible manner. A potential large increase in the interest yield we have to pay to the bondholders is a possible factor we have to consider due to circumstances beyond our control in the financial markets. If such an event were to occur, it would impact our budget forecasts and the overall profitability of the company. These variables have to be acknowledged and planned for.

The intention of management is the long-term stability of our company and viability for our Biofuel projects. We believe that success will come from the management acting as wise stewards of the company's assets. We believe that acting as a wise steward requires taking a realistic view of the present and potential future market conditions and acting accordingly.

The management may elect to use a combination of multiple funding options (including Industrial Revenue Bonds) currently available to the company to minimize any potential impact from negative financial market conditions on the company.






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