First off.... The 10m is not debt. The company has no significant debt to pay back. (Less than $100k) The 10m is just accounting or paper loss from the company being in business over 15years without revenue. Not an issue.
Secondly... B of A will be able to sell the $140m in bonds once they secure long term contract's aka off-takes. They need off-takes totaling 400k tonnes.
One off-take from a US company for 200k tonnes is said to be finalized within the next few weeks. A Second off-take for 200k tonnes is required to get the ball rolling with B of A.
I found out Jim is away on business in Japan this week. I researched and found out there is a Biomass conference in Tokyo May 13-16. Doing my DD I discovered Japan will be needing over 20m tonnes by 2025!
I have no doubt BMSPF will be able to sell out phase one of plant one in the near future, allowing them to start construction this summer!
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