Fortress Financial Group fka FFGO

[pblue]

One reason is that Sloane is not the buyer. FFGO has said the deal will be completed as soon as the buyer's auditors are done.

Sloane's terms are for financing. FFGO can always tell Sloane that the deal isn't done and more money and/or time is needed. It is then up to Sloane to give more money and/or time or to demand payment in accordance with the current financing terms.

Posted by: PD Member Level Date: Monday, July 26, 2010 12:50:19 PM
In reply to: pblue who wrote msg# 142939 Post # of 142944 Send a link via email Share on Facebook Tweet this post
Yes, that is Sloans terms for financing...however, their terms give strict deadlines for when the sale needs to be executed (Aug 6th) and proceeds settled into ffgo's account (Aug 12th) in order for Sloan to get their finance money back by Aug 13th. Did ffgo not say that they would not be saying anything until the final sale is executed and the record dates are filed with finra??? If that be true, then What reason does the company have to execute the sale prior to Aug 6th when that is the deadline that is given to them??? What I am trying to understand is why some ppl are expecting news this week from the company when they clearly have till next week to deliver concrete news about 'execution' of the sale...

-PD