When the heck are they releasing Q4 results and FY08???? We are March 6th .
For those who have not read the "famous" 8k filed last November with regard to the buyout proposal , here is what they said :
"The Company or the Buyer may terminate the Purchase Agreement under certain specified circumstances , including if the financing has not been completed within 105 days."
105 "open" days corresponds to the maturity date which is March 31st
Seventh Modification Agreement
" Effective November 12,2008, the Company and the senior Lender entered into that certain Seventh Modification Agreement and Covenant Waiver , which among other things , extented the maturity date of the company's loan from the Senior Lender from November 28, 2008 to March 31,2009 " !!!!!
In the meantime , as we have all witnessed , a few executives have been leaving the Co. including Gordon Fong,CFO who signed all this on November 13,2008
Also, if you read carefully , there is that option to still sell the bank in case VNBC would file for BK 11 .
We absolutely need to know what is going on with this company..
I really doubt First Tenesse Bank will extend anything .
