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Re: opportunityknocking post# 19052

Monday, 05/04/2009 2:08:33 PM

Monday, May 04, 2009 2:08:33 PM

Post# of 30387
Opportunity, even if someone thinks RECAF will be successful, the monthly obligations to Smithline is just more money than Moro can raise. If anyone puts 100K into the stock, it provides money for about 2 months even under the old agreement where Smithline was not being paid. Then it is right back to square one on the brink of going out of business.

Face reality, there is NO DEAL in progress. Moro just has names of people / groups that may have called him but not made a placement.

"new terms that it will present to the note holders with investors and/or investment groups that have expressed an interest in the company."

Moro is attempting to find out from ANY investor / group what terms Smithline would have to take for them to make a placement. Most of them would just want Smithline to GO AWAY. You just cannot have that much debt hanging over a small company with no continuing line of revenue.

IMO, the odds of Smitline taking stock is near zero. I think Smithline would be willing to take the same terms again but it did not help getting funding before and probably wont again.
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