"Cliff, a letter of credit (L/C) is not any kind of revenue to EDIG. It is simply a guarantee to the manufacturer (DigitalWay) that if EDIG does not pay them for manufacturing the Eclipse HD units, F-T will pay up to $800,000."
Cassandra ... excuse me for eavesdropping, but ...
it appears you`re not quite up to date on how international business has been conducted for quite some time now. The Letter of Credit is more than, "simply a guarantee". It is drawn in favor of e.Digital and it, in fact, represents the source of payment [that means from the bank it is drawn on] to e.Digital [including their profit] upon delivery of the goods to Eclipse ... and that`s a sweet deal for EDIG anyway you slice it !! I know it must be difficult for you to believe that a nearly bankrupt company with worthless IP can negotiate a million dollar contract without having to put up a single penny, but I suggest you try and get used to it ... a couple more Letters of Credit should be arriving anytime now.
If you really want to know a little bit more about what`s going on with e.Digital, you just might want to take a look at a recent post of mine ... it contains a bit more about our Letters [there will be more than one] of Credit, plus a "positive" piece on your favorite little "one-man show" company, APS ... hope you won`t be too disappointed to find out that it appears it`s pretty well connected.
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