InvestorsHub Logo
Followers 21
Posts 1917
Boards Moderated 1
Alias Born 02/20/2007

Re: WallStreetSTTA post# 14896

Friday, 07/12/2013 1:02:29 AM

Friday, July 12, 2013 1:02:29 AM

Post# of 36237
We are close folks on the PPA signing.

From the way I read their latest Facebook update they are meeting the GM of CNFL/Grupo ICE NEXT WEEK and two things might happen. Either the buyer will require more paperwork or the buyer will set a date for signing the PPA. I'm banking on the second option as the buyer already required more info on certain items that STLK management provided to them on Thursday, July 4th via messenger service.

We received the following from a shareholder today: "Versant isn't even diluting, the company is simply standing by idle while we get slaughtered on the pps." As we have noted several times, the timing of the contract is in the buyer's hands not ours. All dates provided were provided by the buyer, while we are disappointed they have not met those dates we cannot demand or push in a manner that causes negotiations to stop. We certainly cannot rush the buyer due to dropping “pps”. That would be damaging to our business plan. The GM is not in the country this week, he is returning next week and we do have a meeting to see if we need to provide anything else or if we can settle on a date to get this contract signed.


Thanks to everyone for their support. I especially liked the offer for a FEDEX account. Not to bore anyone with the details, but we worked on the formal response on Wednesday. The document was well prepared and included our attorney certifying/ notarizing the copies of the requested material and initialing each page (close to 60 pages). He then attached a legal disclosure document (printed on special government issued paper) to each of the copies with "timbres" or government issued stamps making the document official. As an FYI, notaries here must be attorneys. In any event, the work was completed and the messenger service picked up the document early Thursday, July 4th, to hand deliver it to the buyer (Fedex not required on this one but thank you). We received an official "receipt" of the material the same morning. So the document has been received and accepted. Now we wait to see if there is anything else, but we do not believe there is more that is required. We should know more soon.

Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.