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VST7

02/15/07 3:53 PM

#7326 RE: snuggs11 #7325

Tom G told me that the extension was for 60 Days from the 1st part of Jan. I estimate we have approx. 2 weeks left. I remember back in Nov. Tom telling me that the owners from Ag Pro were calling him daily wanting to know if he secured the financing yet, he said they were getting impatient to close the deal. My concern right now is, if Michelex does not close in the next 2 weeks, is there any guarantee that the Ag Pro owners will grant Michelex another extension? I think that should be the number 1 question that needs to be answered right now. What if there is another company waiting to see if michelex can close or not? And if michelex doesn't close, this other company steps in and makes an offer? Of course I'm speculating here, but that could be a very real scenario, especially with all the Non-Trans Fat hype going around, and the fact that Ag Pro is 1 of only 2 east coast suppliers, you know other companies have got to be looking at it if Michelex can't close for whatever reasons?