Thanks Sfraven! It's been tossed around many times on this board, and by Matt himself on his FB page that we are currently engaged in a chess match. If you define the original target from 2010 and connect the dots it will eventually lead you right to the funding source. This is however, if you believe DWHP made the (2) offers for CBAI; the only offers that were publicly released in 2010 by CCEL. My personal opinion on Matt's strategy:
We are creating the perception that we do not have the funding to buy CC Mexico from underneath CCEL with the terms of the LOI that were presented (I believe we are sitting on the $14M, and our cover is blown if we do not close before the 10K is due out). You can bet your butt CCEL is watching our every move right now. Once we buy CC Mexico and remove this very profitable arm, what do you think will happen to the valuation of CCEL? Once it takes place and the dust settles and the damage is accounted for, we go back to the negotiating table with another offer...the same offer. I think the R/S is a requirement by our financier that eventually wants to take a controlling position in CBAI (loan terms for CCEL acquisition), but will not at this time due to charter requirements. I know, all theories, but this is what I strongly believe, somewhere along these lines.
We hope you and the Cryo-Cell board will respond positively to our revised offer. As I indicated in our prior correspondence, we are prepared to fund the transaction through available equity capital from our existing DWHP Fund II, and the proposed transaction would not be subject to any type of financing contingency. Our proposal remains subject to reaching a mutually satisfactory definitive acquisition agreement and our completion of a satisfactory due diligence review. We would like to commence the due diligence and negotiation of an acquisition agreement as soon as possible.
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