Replies to post #3706 on Consumer Automotive Finance Inc (CAFI)

[Smith111]

I know it's a little disappointing, but at least he's man enough to admit it. If it were solely up to he and NowAuto, we would have everything done by Friday...but it's not. The BB company has the ball in their court at this point.

[FQICEO]

"... might have been a little agressive on the date"

From what I can tell after re-reading ...

Scott replied: Fair question, but one I have trouble answering because some matters are out of our hands. What I mean is this: the BB company, a 12g company, has governance matters with which it must comply before the agreement can be signed. While I expect them to be ready by end of next week, I cannot assure it. To be frank, we probably underestimated the amount of work they have to do up front, and might have been a little aggressive on the date.

... I'm hoping everyone can relate to the "governance matters" they have to work relate to by-laws, board of directors, and investors holding what are detailed as % required to approve the merger action. There are notices that go out for meetings and it is best to follow what the by-laws detail to avoid issues later on. Any extensions to the 10 day estimate would not be more than additional days, so perhaps everyone should just keep cool and hold their water a bit.