Okay all. A number of questions and concerns have been raised recently, and Jason tried to answer these questions and concerns last night.
First, many people felt the negotiation with Mr. Lonnie Hayward regarding the restructuring of his Class C shares could go on forever and ever, and might take a year or more to conclude. Let me preface my comment here with a caution that this is a negotiation, and the outcome of such is never certain nor punctuated with a period by some arbitrary date. That said, I did get a distinct feeling that a conclusion to this negotiation is expected, and fairly soon.
Whatever the hang-up or disagreement, it appears to be solely between Mister Hayward and Mister Meier. Often, such disagreements revolve around personality differences, and are aggravated by flip comments that one does not need the other or by statements that one can by-pass the other with some slight of hand. When such comments are made, often parties retreat to their corners and just say sue me, and as everyone knows, lawsuits can take forever. However, I don't think this will happen or is happening, and truly believe the issues can be resolved. I do not wish to give the impression to investors that flip comments are being made by the parties involved. Instead, my example is merely a statement of fact regarding negotiations in which I have personally been involved.
Second, many are concerned that news and documents are not forthcoming from Hollund. Hollund is aware of this concern, but Jason informed us the news and filings are deliberating being slow-tracked, and that the reasons for this slow roll-out will become apparent. By my calculations, I feel Hollund is only about 30 days behind schedule. So I still feel Hollund will be on the lake in December. However, Jason could not confirm nor deny my calculation without public disclosure.
Third, many people felt the terms of the MOU between North Cal and Hollund were not particularly favorable to Hollund. Apparently, this is not the case, and I for one misunderstood the agreement. Hollund has not signed over the right to market and use the TigerLynk to North Cal in exchange for little more than an office on their premises.
Finally, many are concerned about an A/S increase. Once again, Jason could not confirm or deny this assumption without public disclosure. However, Jason made it clear that this subject will be addressed in the near future. In fact, Jason made it clear that Hollund was aware that the share structure must be addressed if Hollund is to move forward. Jason also said Hollund has a plan, and hopes to reveal this plan once immediate and necessary issues are resolved.
This was a lengthy conference call that touched on many different issues, and that means I may not be covering all points discussed in this one post. I apologize for that if it is the case. Jules may have more to add if he thinks of some point I have not covered.
Thank you for your time and interest.
