It begs several simple questions:
How do you provide working capital with restricted stock? The company would have to sell restricted stock to someone, take the cash generated and use it to fund the development. Is that what they mean? If so, to whom are they selling the stock and at what price and terms?
Most important, it doesn't say the first tranche (somebody needs to spell check these PRs) is $1.5 million. It says " will provide through restricted stock the first traunch in the initial $1.5M working capital for this subsidiary project to begin its site development." So this is the first payment toward an initial $1.5 million (and that's assuming it actually means million, as MM is the standard abbreviation for million, with M meaning "thousand") in working capital.
I'm not convinced that:
the first tranche
of a total $1.5 million funding
to begin construction
of what sounds like a hundreds of millions of dollar construction project, will be paying back anytime soon.
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