Rim Semiconductor Company (fka RSMI)

[ElderWolf]

cosmo

In this case where both parties have agreed what could be a possible hold up and potential for this to fall apart if both sides have already "agreed"?

This loan may be happening in two different stages. The first stage is where the "bank" does DD and decides to loan the money. That part is done which is why NVEI had to put it in the filing because it is most definitely a material event.

Stage two: The "bank" wants to make sure the money is spent getting things done that will ensure NV is at the revenue stage very quickly. The reason for this is obvious. They want New Visual to pay them back. Some possible hold ups are that the bank wants New Visual to provide a detailed analysis of where they will spend the money. The bank will almost certainly want annotated in the final contract that New Visual will spend the money adding infrastructure critical to getting the tech launched. They will not want to see the money being used for the movie. They will also not want the money going to Executives for bonuses etc. etc... They will want a detailed, and I do mean DETAILED, line for line analysis. I could go on with different possibilities but the bottom line is this. It takes time to agree on terms of the loan and I believe that could very well be why the loan was APPROVED but not yet executed.