The reason they haven't been able to partner ESS s
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Posted On: 03/15/2018 7:30:56 PM
The reason they haven't been able to partner ESS s the toxics, period. We have been dead since Summer of 2015.
Suppose someone offered 10 million up front and a royalty, milestone payments etc.- it wouldn't matter. The toxics were owed over 25 million and they would want their money to go along with the deal- Gerald had no power. They actually did have a partner for ESS, but the deal died and again I am sure it was the toxics that got in the way- just too hard to negotiate with 10 different lenders all wanting their cut. Once the tender exchange is complete, it will be the first time the Company will have the ability to enter into a transaction without being in default. Plus GC had no leverage to negotiate anything before anyway, but now he will.
Suppose someone offered 10 million up front and a royalty, milestone payments etc.- it wouldn't matter. The toxics were owed over 25 million and they would want their money to go along with the deal- Gerald had no power. They actually did have a partner for ESS, but the deal died and again I am sure it was the toxics that got in the way- just too hard to negotiate with 10 different lenders all wanting their cut. Once the tender exchange is complete, it will be the first time the Company will have the ability to enter into a transaction without being in default. Plus GC had no leverage to negotiate anything before anyway, but now he will.
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