In looking up Spartan and assuming it is the correct NYC firm, most of their tombstone ads indicate a propensity for very small deal size. They are not a principal but an agent who would sell shares to the inhouse punters.
If memory serves me correctly this is the third or perhaps the fourth capital finder we have used in two years. Why did the others not deliver?
One phrase in the press release caught me off guard. There was a reference to buying out the Moroccan project which suggest that while it is operating we can only claim a portion of the net profits or loss and likely cannot consolidate the results until the deal closes. So goes the argument for "revenue".