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quikfix

05/22/14 1:52 PM

#19331 RE: quikfix #19330

Updated list of questions. Added 2 more questions, 8 and 9.

Sorry for question 2, the term was 25 years and not 20 years and here is the link to the Powerpoint:

http://www.smallcapfinancialwire.com/wp-content/uploads/2014/02/Versant-Presentation-FEB-2014-1.pptx

Please note this in page 32:

The Company will undergo a 3(a)10 process to reduce approximately $500,000 of debt beginning Q1 2014. This will significantly reduce the overall debt owed to third parties


Here they are:

1) What caused or is causing this day of expected PPA signing from April 2013 till May 2014 and now in the latest 10Q it states the expected date of this signing is end of fiscal year which is Dec 2014. Why does a company CNFL who committed to signing this last April 2013 keep delaying this PPA signing? What is or are the reasons for this?

2) Will you be pursuing the ICE PPA instead of the current CNFL PPA as it doesn't seem to us like they intend to sign this at any point since you qualify for those Costa Rican laws 7200/7508 as mentioned on page 27 of the Powerpoint and can you provide details of expected timelines as we are curious to know if you would need to start from scratch since this a a different contract all together. Also, would the term 25 years and annual revenue projection of 12 million per year remain the same with this new ICE PPA contract?

3) If the anticipated PPA signing date is now Dec 2014 or later if you go with ICE PPA instead, how will you prevent further dilution and toxic financing?

4) Do you have a revenue generating plan of some sort or will we continue to see convertible notes added in the financial quarter after quarter?

5) Do you still want to remain an audited company since it seems to cost a lot or is that required to be remain a SEC reporting company or one of the PPA conditions?

6) What is the expected time frame in your opinion of this Form 10 being accepted by the SEC or when you do expect a response from them regarding those 18 remaining questions. Was the response submitted and when?

7) When will you engage the Ex-Im bank for a new LOI since the last one expired in Mid May 2014.

8) What ever happened with this (page 33 of Powerpoint) and why couldn't this line of credit be used to pay the auditors

Equity Lines of Credit. We do have a $5 million line with Tangiers


9) Will you ever start the IR firm promo as you mentioned to us in the past?

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sta loose

05/22/14 1:59 PM

#19332 RE: quikfix #19330

Good luck w/it,, sent a similar
email, and was only told.. "to check the filings"

Let us know (If you~ wouldn't mind)??
Thanks,