The only hangup I have with your conclusion is the fact that Leds America has been trying to get this Iowa facility going long before they even started talking to Viper about the merger, and Viper already has a $1mm payment due (in 2 payments) in 2012 due to the buying of the energy corporation
Like I said before, in the initial proposal to the city, their request for the tax based financing was denied and the proposal sat dormant for a couple years when the city suddenly decided to re-vote and then it was approved to say they could have special taxed base financing if they got private financing. By that time, the merger talks had begun. Viper doesn't have the cash to finance the Iowa project, but I suppose they could try and raise it.
But if they became involved, wouldn't we have heard something about them starting another JV with Leds America?
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