Why didn't Hanks issue a press release about the big financing deal - with a unnamed offshore international debt fund (eyes rolling).
On 03/14/2018 Hanks stated that - "The Company has had only preliminary discussions with prospective equity sources regarding the financing of these projects and it is unclear at this time if we will be able to obtain such financing and, if so, how much equity in the Subsidiaries the equity investors will require in order to provide the financing. Any equity financing into which a Subsidiary enters will dilute the Company’s ownership of such Subsidiary. In addition, while the Company believes that the Refinery’s cost is financeable in large part through debt, it has not yet obtained a letter of intent or commitment for such financing."
But a few days later Hanks is claiming to have a term Sheet signed - when on 03/14/2018 there was only preliminary discussions.
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