TWS - Obviously Simco has done sufficient research of Magnum to know that the company will be able to follow through with their Business Plan and become a major player in the recycle and rubber markets. They would also have to have been convinced that SRI's patented technology will work and that Magnum's management has the ability to make it all happen. It's not every day that a start-up would be loaned 15 mil in good times, let alone in this market climate. As you stated, Simco is an institutional funding group that is responsible to their investors who also would have to have been convinced of Magnum's worth prior to concurring on the loan. Simco's confidence in Magnum's ability to execute their Business Plan should give Magnum's investors that much more confidence that their money is well placed. This loan speaks volumes about the potential Magnum has and we should begin to see the benefits shortly.
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