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Saturday, April 02, 2011 2:38:17 PM
Virtually everytime that Bergamo makes a statement regarding a new financing or a new deal and the parameters change so the financing or deal is dead or is done a different way, there is to my recollection never a statement issued regarding the death of the old deal, its change or the rationale behind it.
I do not recall any retraction on the Suntrough story nor Greensave for that matter. Likewise on releases about London Wall, the UAE funding, Pakistan coal, Lebanon and a few other African countries.
If Suntrough was acquired, the statements would have included either a share in the earnings or fully consolidated with minority interests. I had a friend explain this to me. None of this was reported in the December financial news.
Simple contract law says that something must change hands for a deal to be completed. Bergamo gives Suntrough cash and Suntrough gives Bergamo share certificates. In no cash comes into Bergamo, how do they give it to Suntrough to take in an equity position?
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