They also mentioned that they would try to see if the bond attorneys would be able to pull out tract 1A land, and use the rest of the IDA's land as collateral.
Will the IDA take on this huge liability? I see they are not questioning why Moon River's plan has changed. They (MDNT)previously said they were going to rely on Debt/equity financing and making money on yellow release (they've tried to peddle the rights to this twice before). Now they have no hope other than trying to leverage leased IDA land as collateral. It is not clear that Moon River could afford even one payment. They don't get the significant tax breaks unless they make money. Maybe they'll peddle the tax breaks on the open market. I won't mention how this would increase their tax liability....ouch.
The ability to dump equity (shares for cash) was curtailed by the SEC suspension.
Yellow may get released someday, but I'm guessing the percentage MDNT get will be lower. This is a 2012 movie. MDNT doesn't really have the cash to promote it at all, so maybe they'll just dump the rights for a song.....but it might help them hype enough to keep the share price at $0.0001 or sometimes $0.0002.
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