Rich,
The STF that was partially funded was from Empire/Altus metals. If you will remember the 750K from Empire on the financials posted here by allyaustin. That money is gone. Truth is, there is no new STF. There is an old agreement in place, but other creditors would have to subordinate to make it happen. They have not agreed to do this, so no further monies have been released. My guess, with what is required, no further monies will ever be released. Current creditors have made it clear they will not participate/subordinate to Empire. Hence, no more money coming in. This is total BS garbage.
Yeah they can say that STF was partically funded. It was. Yes they are working on the terms to get more money released. What they are not saying is that this is an old deal, and no money has been funded recently. They are also not saying that they are dead locked unless current creditors agree to participate and subordinate. Rich, there has not been any new monies come in for quite sometime. Dont be fooled here.
