Replies to post #10346 on Rim Semiconductor Company (fka RSMI)

[ElderWolf]

cosmo

In this case where both parties have agreed what could be a possible hold up and potential for this to fall apart if both sides have already "agreed"?

This loan may be happening in two different stages. The first stage is where the "bank" does DD and decides to loan the money. That part is done which is why NVEI had to put it in the filing because it is most definitely a material event.

Stage two: The "bank" wants to make sure the money is spent getting things done that will ensure NV is at the revenue stage very quickly. The reason for this is obvious. They want New Visual to pay them back. Some possible hold ups are that the bank wants New Visual to provide a detailed analysis of where they will spend the money. The bank will almost certainly want annotated in the final contract that New Visual will spend the money adding infrastructure critical to getting the tech launched. They will not want to see the money being used for the movie. They will also not want the money going to Executives for bonuses etc. etc... They will want a detailed, and I do mean DETAILED, line for line analysis. I could go on with different possibilities but the bottom line is this. It takes time to agree on terms of the loan and I believe that could very well be why the loan was APPROVED but not yet executed.

[Trexville]

Cosmoworld you wrote: "I hope things work out, but if we dont hear something specfic within the next few weeks I would be VERY concerned about the agenda and true motivations of NVEI. "

I can tell you NVEI management DID NOT want to release this information until all was squared away. The information was inserted in the 10Q at the recommendation of the company's attorneys who viewed the signing of the deal as a material event. If NVEI management had a weird agenda they could have issued a splashy PR, they could have tried to leak this info all over the place, hyped it, etc. They have not done so. In fact, quite the opposite. The day after the 10Q came out Brad Ketch responded to the loan deal in the RAQ by saying that while it has been approved by the BOD and signed the funds have not yet been delivered.