My prediction is we go past the Jan 10th deadline before we get the $1.5 million in funding. I wouldn't be surprised if it drags on into the Spring. I think they have the $500k, but they obviously don't have the other million otherwise they would have already closed on it. In fact in the fist pr it was a Jan 10th deadline, but that has already been changed to "Over the next several months, the Company intends to raise sufficient capital (approximately $1.5 million) to complete the Tender Exchange"
As much as I believe in the value of the assets (which is why I invested), GC has been unable to execute on anything in 2 years. I think they will eventually be able to complete the tender exchange and will bring the filings current which will be a huge step, but I doubt they will be able to raise much though crowdfunding and I doubt they will do an uplist anytime this year. Who exactly are the retail investors who are going to fund this- us?
The note holders aren't going anywhere and they will continue to be flexible and give GC whatever time he needs- they have no other choice. Remember they agreed to the discounted payoff way back in January so its been almost a year and they are still waiting for something to actually happen. My guess is we could see a nice bump in share price after the filings are brought current and the tender exchange is complete, but after that it's anyone's guess how this will play out. GC is taking this one step at a time. He has to tell the noteholders what they want to hear and that he is uplisting or at least trying to uplist to buy their time and patience, but the negotiations will continue as things unfold.
I still believe that the Company will eventually turn itself around, but this is an ever developing story and I think plans will continue to change as we go forward.