Reading the update I have 2 positive points to remark
imo it is smart to stay away from something what could bring new problems. Wait and clear it before jumping in it. makes sense. imo
TVOG Management is clear it will not proceed on any deals until legal counsel, compliance, and the clearing firms have approved of it. TVOG regrets this is the current situation but cannot risk potential challenges as outlined herein until further notice.
and second, it looks like Dubai still has skin in the game, it´s just delayed.. so we sit back and wait until that deal is ready.
1) TVOG will set up a wholly owned subsidiary for PrimeStar Bitumen, which will be used to negotiate any reorganized transaction with the investment banking advisers and Dubai strategic capital partners.