I don't understand it either. They applied for it
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(Total Views: 235)
Posted On: 03/31/2017 11:28:39 AM
Re: All Aboard #24755
I don't understand it either. They applied for it for ESS on Dec 29th, 2015 and for MANF on February 5th, 2016. No mention of either since.
I believe the program was suspended for a while after a certain number of vouchers were granted (which occurred after they had submitted their applications) and it required Congress to reinstate or renew the program. I think when the program was originally initiated it was only for a set number of vouchers so once the last one was granted, it had to be renewed. So maybe the applications were put on hold for a while?
It seems like the option to buy out the note holders interest in Cutanogen for $50 million is there at least in part if a voucher is granted. $50 million for 35% of ESS is a lot of money.
I believe the program was suspended for a while after a certain number of vouchers were granted (which occurred after they had submitted their applications) and it required Congress to reinstate or renew the program. I think when the program was originally initiated it was only for a set number of vouchers so once the last one was granted, it had to be renewed. So maybe the applications were put on hold for a while?
It seems like the option to buy out the note holders interest in Cutanogen for $50 million is there at least in part if a voucher is granted. $50 million for 35% of ESS is a lot of money.
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