My theory at this point is that rather than a stra
Post# of 30066
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Posted On: 09/29/2017 7:06:32 PM
My theory at this point is that rather than a straight funding, GC may be working with a partner who wants to do a deal with one of the 3 assets. This would make sense as to why they went to the expense and effort to create the subsidiaries. They borrowed 100k to do that-money they didn't have so they must have had a plan.
Even if someone came along tomorrow and wrote a huge check and paid the toxics off, there is no one to start any trials or move things along. They would still have to go out and find a partner or outsource a trial. Neither AMBS or Chan have the ability to run a trial even with money. AMBS has always been a shell company- by their own admission they are a "holding" company- its right in their name and their goal has always been to partner or spin off its assets.
We know there was a JV partner in the works last year for ESS- maybe its the same party- or someone else- who knows. Certainly that partner would have paid something up front- even just a couple million or so.- but that would have been enough to start to turn things around. The problem is the toxics have encumbered everything. So no partner can invest any time or money for fear that the toxics could come back and file a claim later against them. This to me makes more sense than just another loan. Also if the toxics aren't being paid off and taking an equity stake instead, they will need to be assured that something will actually get done- that the assets will be moved along, which will require a partner, not just a loan.
Even if someone came along tomorrow and wrote a huge check and paid the toxics off, there is no one to start any trials or move things along. They would still have to go out and find a partner or outsource a trial. Neither AMBS or Chan have the ability to run a trial even with money. AMBS has always been a shell company- by their own admission they are a "holding" company- its right in their name and their goal has always been to partner or spin off its assets.
We know there was a JV partner in the works last year for ESS- maybe its the same party- or someone else- who knows. Certainly that partner would have paid something up front- even just a couple million or so.- but that would have been enough to start to turn things around. The problem is the toxics have encumbered everything. So no partner can invest any time or money for fear that the toxics could come back and file a claim later against them. This to me makes more sense than just another loan. Also if the toxics aren't being paid off and taking an equity stake instead, they will need to be assured that something will actually get done- that the assets will be moved along, which will require a partner, not just a loan.
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