uWink Inc. (UWKI)

[Netman]

RE: The Promenade at Howard Hughes Center

FACT: The Promenade at Howard Hughes Center is the only one they "cut".

WHY? - The actual real world fact is... they had not received a conditional use permit within a reasonable time.

uWink obviously entered into the deal expecting to get it.
uWink then waited an appropriate amount of time to get it.
uWink was Not going to build / reconstruct at HH without it.
uWink terminated the agreement, as they should, to move on.

The 8-K statement they put out was very clear:
"The termination was as a result of certain permitting delays relating to the Center's conditional use permit that prevented the opening of the restaurant within the timelines provided for in the definitive lease agreement." - "The Company incurred no termination penalties."

http://www.sec.gov/Archives/edgar/data/1108699/000101968707004431/uwink_8k-122007.txt

There was NO money mystery or money concern regarding that place Either, and who says they are not still looking for the 4th location...

I spoke with Nancy Nino while they were waiting on that permitting.
The permitting put a hold on progress, they made the right choice.