With respect, please recheck the postings.
GreenSafe hired Blue Light Capital to find funds.
The best proposal came from Bergamo Acquisition Corp in the fall of 2009. A deal was struck where BGMO would acquire 60% of GreenSafe for an investment of $ 50 million as equity and $ 70 million as subordinated debt. That deal was signed days prior to the ground breaking event. Two weeks into 2010, BGMO advised GreenSafe that it could not make the agreed payments and asked for it to be rescheduled. The reason for the delay was BGMO's problems in remitting the profits from the high yield investment program.
Does this sound familiar?
Say, VSTA, boys and girls.
The equity infusion was rescheduled to meet the expected flow from the high yield investment program and the investment needs for another project (Suntrough and the application software firm).
Well, guess what happened?
All of the dates for the wire transfers from BGMO to GreenSafe were missed.
Does this sound familiar?
Once more say, VSTA, boys and girls.
GreenSafe's issues had nothing to do with Blue Light but what is now a recurring problem with BGMO with the failure to deliver.
Apparently, after the entire management team save two left GreenSafe, that company and BGMO entered into a new funding agreement. What it was is uncertain as the new management did not maintain the website.
Blue Light was long gone from the scene.
Evidence shows that BGMO and GreenSafe were "thick as thieves" more than two years after the big cheque signing event.
