I think the mystery here is why GC announced that
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Posted On: 03/24/2018 2:32:25 PM
I think the mystery here is why GC announced that the tender exchange should be done by March 17.
The Binding LOIs contain certain provisions requiring Amarantus to:
1. Enter into settlement agreements with a majority of holders of the Company's outstanding accounts payable in order to complete the Tender Exchange; and
2. Raise a minimum of $1.5M by the time of the Tender Exchange, inclusive of up to $500,000 in funding disclosed last November.
As far as we know, they have only raised $300K more (disclosed in the Form D).
And we have no idea what the status of the settlement agreements is.
Given that and the delay, the mystery remains. Why did he think he would be done a week ago.
FOR ONCE, UNDER PROMISE AND OVER DELIVER.
The Binding LOIs contain certain provisions requiring Amarantus to:
1. Enter into settlement agreements with a majority of holders of the Company's outstanding accounts payable in order to complete the Tender Exchange; and
2. Raise a minimum of $1.5M by the time of the Tender Exchange, inclusive of up to $500,000 in funding disclosed last November.
As far as we know, they have only raised $300K more (disclosed in the Form D).
And we have no idea what the status of the settlement agreements is.
Given that and the delay, the mystery remains. Why did he think he would be done a week ago.
FOR ONCE, UNDER PROMISE AND OVER DELIVER.
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