Replies to post #17115 on VHGI Holdings Inc fka VHGI

[MoneyStocker1]

As stated in the 8k...Mr. Rinsiger (LGHC) himself will be covering that letter of credit with his own backing and capital!

Effective May 28, 2013 Lily Group also entered into a Memorandum of Understanding with Lily Group Holdings Company (“LGHC”), an entity owned by Mr. Risinger, our Chief Executive Officer. Pursuant to the terms of the Memorandum of Understanding, LGHC will obtain the aforementioned letter of credit and certain other personal guarantees required by the Investor to satisfy the security requirement for the loan. As consideration, Lily Group will permit LGHC to hold the net proceeds of the loan in an account of its choosing and release the funds for Lily Group’s benefit in accordance with the specific use of proceeds to be agreed upon by Lily Group and the Investor.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9361909

The only thing they have to do is meet any and all other conditions that are out there and putforth by the lender! It looks like the major ground work and most difficult provisions of the loan have been achieved! The loan IMO is def in our favor!

VHGI

MS