Replies to post #2956 on XG Technology, Inc (XGTI)

[calbwt]

The recent S-1 says the reverse split must be done by January 3 and they must be above $1 for 10 days by January 17. It also says IMT has cashed out only a little more than $1 million of the $2.5 million they need to realize by Dec. 31.

So, IMT needs to liquidate $1.5 million more stock to finalize that deal and xG needs to raise $5.3 million cash to keep the Vislink deal moving forward. (Not to mention the additional $10.7 million they'd need to close that deal.)

Vislink is never going to happen. And I wonder what's going to happen with the IMT deal. Since April 12 they've only realized about 40% of the cash proceeds, and they have a Dec. 31 deadline looming.