Replies to post #31584 on BIH Corporation (fka BIHC)

[tw2319]

Exactly. Very good point Carpe and good observation. I think that some and I would say, MYSELF included in this as well, had our hopes riding on this negotiation coming to fruition due to our emotional impulses along with the season, and the current economic status. We didn't think about it from a business standpoint after the PR was released, and in that, it caused a kneejerk reation in the form of massive dumping and shareholder disgust. What I think should've happened is that after serious consideration, we should have placed ourselves in his position. Granted we don't know what else is in the works for late 2008- early 2009, but he has had some serious surpises up his sleeve in the past. They chased and was awarded the Mets Stadium contract, Applebees, Takk systems, Chicago Uno's...and guess what? That all happend in just over a half a year give or take? So, along with these and all the other small contracts that they haven't disclosed or mentioned, what other plans do they have in mind. Besides the 3 for 1 and the cash divy. Well all of this typed, speaks one thing: This is a long term stock. This is not a buy and throw way company, they're in this for the long haul people.

[Anvil/CT]

Carpe:

Sorry to use an old cliche but "what did he know and when did he know it"

Don't blame Galo for not doing a stupid deal or one that did not make sense. Usually, the seller would require buyer to provide proof of financing/cash within a timeframe after signing the initial agreement. During the initial time frame, buyer and financing source do their due diligence. Buyer makes sure it knows what it is buying and bank is working toward providing a firm financing comittment aka committment letter. At the most, this could take 90 days to produce.

Hence,my questions for Galo:

1. what steps did you take to ensure that buyer had financing, at least for the original purchase price.

2. When did you know that the financing fell through

Shareholders waited five long months, I think Galo should elaborate on the deal time line.

[turbosig]

Exactly.