The reference to the audits was specifically about
Post# of 96879
(Total Views: 597)
Posted On: 12/17/2018 10:05:24 PM
The reference to the audits was specifically about the $10 million line of credit. Below are the notes I was typing out about the funding topic as the conference call was taking place...
* About a month ago, company pursued other avenues to bridge us to get moving forward.
* Signed deals with two private investors who brought in real assets we can use on the balance sheet and collateralize. With those we have engaged two different merchant banks who are auditing the assets to issue a $10 million line of credit.
* With those LOC's we want to clean up all the legal issues and settlements.
* Goal is to take care of all of those with the first
* Secondly will be cleaning up the Caveat Emptor issues and paying the lawyers and people necessary to bring all of that current. Now just a matter of being able to pay the bills to accomplish those goals.
* Want to close at least 3 major studio contracts using LOC to pay license fees that we want to advance to increase the UF library
* Finally use funds from LOC to get out new versions of products we have
* Share buybacks and targeted acquisitions of other tech companies will be pushed until the actual large fund has closed
* Bigger fund believes they are going to close in December
* Going to try to close LOC in next 10 days
* Hoping for full $25 million
* About a month ago, company pursued other avenues to bridge us to get moving forward.
* Signed deals with two private investors who brought in real assets we can use on the balance sheet and collateralize. With those we have engaged two different merchant banks who are auditing the assets to issue a $10 million line of credit.
* With those LOC's we want to clean up all the legal issues and settlements.
* Goal is to take care of all of those with the first
* Secondly will be cleaning up the Caveat Emptor issues and paying the lawyers and people necessary to bring all of that current. Now just a matter of being able to pay the bills to accomplish those goals.
* Want to close at least 3 major studio contracts using LOC to pay license fees that we want to advance to increase the UF library
* Finally use funds from LOC to get out new versions of products we have
* Share buybacks and targeted acquisitions of other tech companies will be pushed until the actual large fund has closed
* Bigger fund believes they are going to close in December
* Going to try to close LOC in next 10 days
* Hoping for full $25 million
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