I have to agree. If they had at least raised the money in a way to own the land, they would have collateral to pledge against construction loans for the first phase. Now they do not. The only way this project will ever happen now is if another developer comes in and takes over and hires ACAN as consultant. They have hamstrung themselves and although I left money on the table by exiting yesterday, I would do it again. All the talk about the great potential of the Mass. market is irrelevant if you don't have the money to play. I don't wish anyone any harm, but read the deal they made and think about it. GLTA.
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