Replies to post #47051 on Xechem International Inc. (fka XKEM)

[drifterfcrc]

Thanks for you input mordicai. You brought up some very good points. gltu.

[smartmoney77]

As per Q and A press release. The Nigeria bank loans will be backed by Nexim The UPS loan will be backed by U.S. export import bank loan program. Which only adds to the complexity and what you were saying. GLT

In the past several weeks, we received a loan from NEXIM Bank of
Nigeria for 150 million Naira (USD $1.2 million). The bulk of
those proceeds have been earmarked for the initial phase of
construction, and that work has recently begun. NEXIM has been an
extremely supportive lender that likes very much what Xechem is
doing in Nigeria and has expressed a strong interest in investing
significantly more money into Xechem's operations there. In fact,
advanced discussions are now underway with NEXIM officials
concerning a substantial new loan, the proceeds of which would be
used primarily for constructing the buildings for the new
commercial scale facility. We are also continuing to aggressively
pursue an approximately $8 to $9 million loan through the U.S.
Export-Import Bank Loan Guarantee Program.

[silverfox1155]

"And my hunch is xkem's lending entity might just have wanted to see xkem's authorized shares increased as another condition of making the loan, not for any loan conversion, but just to see xkem have some means to raise money for future loan repayments in case things do not go as scheduled. JMHO."

This makes perfect sense as I have been alittle confused about the increased AS. This would put the loan approval timing after the shareholders meeting since it has to go to a vote.?.? Am I off here??