Seesmart Technologies Inc (fka SEST)

[gte_gold]

The NTIA does not have the budget to give the stimulus money to everyone. There were $28 Billion requested by the applicants, nearly 7 times the $4.7 Billion authorized by Congress for BTOP. Assuming all applications were equal, (which they aren't) only 1 in 7 applications could be funded for the full amount requested by the applicants.

Only $1.6 Billion will be issued between mid December until early next year. NTIA will have a second round of funding for the remaining $3.1 Billion beginning early 2010 (perhaps first quarter?).

Each eligible BTOP application is evaluated by at least three expert reviewers against established criteria, including the proposed project’s purpose, benefits, viability, budget, and sustainability. For this phase, NTIA recruited and selected over 1,000 highly-qualified BTOP application reviewers. Those applications considered the most highly qualified then advance for further consideration by NTIA. Testimony Before the Subcommittee on Rural Development

As if qualifying for Stimulus funds wasn't difficult enough, OneFi Technology did not apply to the NTIA for stimulus funds. One speculation is that OneFi teamed with EBITDA Capital, however OneFi is not named in the EBITDA executive summary submitted to the NTIA and OneFi has not publicly acknowledged any involvement with EBITDA Capital at this time.


gte_gold