Naz, I see that as nothing but good news...
1) You're telling me they secured $61 million at 7% interest, non-dilutive? I feared a lot of dilution and/or obnoxious interest rates.
2) All you really said is that VEII management consists of shrewd negotiators. Of course they'll bend to get the other $25 million if they have to. You just reduced my concern from $86 million in dilution to $25 million, MAYBE, in dilution .... AKA practically nothing.
3) Of course they haven't had any revenues in 3 years. What were you expecting them to sell - cotton candy?
4) Their current cash needs are $25,000 per month. They dilute by a tiny amount to keep from being "tapped out." Raising funds to keep from being "tapped out" for $25,000 for an .80 stock price isn't even worth talking about.
Thanks for the info - $61 mil of $86 mil being credit at 7% interest is very encouraging news although I'm sure they've had several offers on the table for the other $25 million. The company has stated they are NOT looking for investors, they don't need investors, a call to the design company says they are in the last phase just before breaking ground, and Harrah's/RIO both say they're breaking ground shortly and the plan is an absolute done deal (call 800-PLAY-RIO for example and ask any employee).
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