Keep in mind we're not talking about EPCM...we're
Post# of 43066
Posted On: 09/27/2014 6:13:42 PM
Keep in mind we're not talking about EPCM...we're talking about a consulting gig. PTOI asked SAIC to come in and validate the commercial viability of P2O based on assumptions. In the executive summary, SAIC said the assumptions were listed in the report available from P2O. PTOI didn't make those assumptions available...but five months after the report and the subsequent PIPE, PTOI said the assumptions were incorrect or outdated.
I don't think SAIC is doing anything wrong by working through the math based on assumptions from PTOI if that's what SAIC was hired by PTOI to do. If SAIC knew that PTOI's numbers were fake and that they were hired to provide a flawed report to dupe new investors, then they would be culpable. I don't know if that's the case, however.
Is the same thing with RockTenn. RockTenn was offered a no-risk deal by PTOI which would pay off if PTOI performed per the agreement. Certainly if RockTenn knew that PTOI was just offering that deal so they could trumpet a joint venture with RockTenn to dupe investors, then RockTenn would be culpable. But with a risk-free deal, there's not much point in RockTenn spending any money on DD.
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I don't think SAIC is doing anything wrong by working through the math based on assumptions from PTOI if that's what SAIC was hired by PTOI to do. If SAIC knew that PTOI's numbers were fake and that they were hired to provide a flawed report to dupe new investors, then they would be culpable. I don't know if that's the case, however.
Is the same thing with RockTenn. RockTenn was offered a no-risk deal by PTOI which would pay off if PTOI performed per the agreement. Certainly if RockTenn knew that PTOI was just offering that deal so they could trumpet a joint venture with RockTenn to dupe investors, then RockTenn would be culpable. But with a risk-free deal, there's not much point in RockTenn spending any money on DD.
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