Day Tradexchange Inc. (SYNJ)

[cudda7]

This deal always called for 5 million. Mack was to provide the 3.5 million from USDA but, failed to post his personal assets in order to procure the loan. That was in the 4th Q 2009. IMO, That's when the problems behind the seens began. The company showed about $900k in cash at that point. That's also when all delution of the stock stoped and Mac brought Katzburg on to find this so called "non Traditional" financing. The point is that there doesn't seem to be much spending going on. If you take out the legal fee;s of $150k and add the $600K in escrow your looking for about $100 to $150K in the last year and a half used for expenses. Thats nothing, and it is certainly not the issue that holding this project up. They need to find a way to replace the 3.5 Million to move forward. I think their going to come out with an adjusted business plan that may tac in a slightly different direction of the alternative energy market. I would if I were them. Truth be told Bio-fuels is not that exicting and has legislative issues to work out. This is a wide open industry with so many other opertunities available. I hope he goes another direction.