Watchit Technologies, Inc.(fka WTCT)

[mecah]

Stowe..I think you need to reread the letter or you are badly misinformed. The paragraph you cite concerns the Chicago manufacturing company which was suppose to be involved with the joint venture. This has nothing to do with the Dbar financing. They are two distinct and different entities. The financing deal with Dbar is still pending.

A long time follower and early supporter of developing the Fuel Reformer, Dbar Leasing contacted the company in June of 2011. They had actually been involved with the early development of the fuel reformer and now, recognizing the potential of the fuel reformer, wanted to become reengaged.
This transaction had a closing date of November 30, 2011.
However, the negotiations have become far more comprehensive and
complex and are still ongoing. As of this writing, the latest version of the agreement is in their hands awaiting final disposition. The agreement as written takes into account not only the funding for development and production but also utilizing complicated historic tax circumstances held by WatchIt and usable by Dbar. .