As long as it’s not a R/S who cares! Lol… and I don’t believe that a R/S would help them at all because the volume would only be temporary due to another mass sell off and then it would die off for quite a while. 4 mil daily vol is part of the criteria for the loan.
So let’s look at the up side here, in the next 21 days it needs to be at .20 and there motivation is another loan check for around 250K and mine to hold is a 4 bagger in three weeks! Sounds like I’ll be holding on for the ride, the risk to reward ratio looks good to me.
I don't believe we are looking at the terms correctly. Spending a little time on it, this is what I have figured out. And anyone please chime in and correct me if I am wrong (which I hardly ever am hahaha). First the link to the 8-K:
The closing date is December 1, 2010 5 business days from closing date is pmt #1 which should of been Dec 8 and according to the chart, the pps on Dec 8 was above .20 (.25) so the company should have received that payment already.
Payments #2 through #6 are anticipated to be paid within (x) amount of days from the EFFECTIVE DATE
Now the caveat:
The EFFECTIVE DATE has not been established yet, which in turn, the payments #2 through #6 can't be paid. This is what I have figured out:
The Effective Date should be around May 24, 2011. This is figured on 120 (business) days from the closing date of December 1st to have the Regestration Statement filed with the SEC. Now through the entire 8-K, it says these events will be executed "within" (x) amount of days so I am figuring that entire time frame. Could be sooner.
An Effictive Date of May 24, 2011 would put the payment schedule as follows:
Payment #2 within 10 days of the effective date = June 8, 2011 Payment #3 within 45 days of the effective date = July 28, 2011 Payment #4 within 90 dayf of the effective date = Sept 30, 2011 Payment #5 within 135 days of the effective date = Dec 5, 2011 Payment #6 with in 180 of the effective date = Feb 8, 2012.
We have from now to approximately June 8th for the pps to achieve that .20 mark for the second payment to go off. Hopefully this will give everyone a good schedule of when to watch the pps and make sure you are in before the payment date.