Dean Bradley, announces Newby & Associates, Inc. has received confirmation from the Trust company confirming their bank's outgoing swift of a $125mm standby letter of credit to the Trust Company's Bank. Oncethe Lending Bank has confirmed the BANK TO BANK swift transfer from the Trust's Bank, funds will be received by Newby & Associates, Inc. for lending to QASP within 72 hours.
It does not say that even Newby will be receiveing funds in the next 72 hrs.