Thanks for your response. I have a recording of the call and have listened to that section several times now.
Regarding uplisting, Mr. Mulholland said that they are developing their business plan and are targeting to file their package in the coming weeks.
Regarding funding, Mr. Mulholland said they were working with the bank to develop and implement a different kind of funding mechanism, they still have some work to do, documents to draft, but they have it in concept and they've shared it with the exchange. He then said that preliminarily, it has peaked their interest. Finally, he said that as it comes together in the next couple of weeks, they'd provide us with a full update.
So, lots of work yet to be done with the bank and the exchange only has peaked interest after being afforded a preliminary view.
It's effectively Wednesday right now. I cannot imagine any scenario where this conceptual notion of a funding structure gets completely fleshed out, where additional work gets done, where additional documents get drafted, and most importantly, where all of this takes place with enough time to present it to the exchange such that they have the time to absorb it, present it to their own board of directors and lawyers, and subsequently sign off on it -- all by the weekend.
Sounds like a chicken and egg scenario. And by that I mean that I'm not convinced it's possible to structure and contractually execute a complex capital deal without knowing, in advance, that said structure will ultimately be approved by the governing body for which it is being drafted.
Now, I grant you that maybe NP was referring to a LOI or a Commitment Letter, but even then, it would challenging to draft that kind of document without at least having a general understanding of the deal parameters that will make up the anticipated final agreement. But it is possible.
I really like NP. And I really like ALL that he has done, and continues to do, for the company. We wouldn't be here without him. But we're going to be moving to prime time soon, and there's no room for error when your show is broadcast during prime time.
Regarding uplisting, Mr. Mulholland said that they are developing their business plan and are targeting to file their package in the coming weeks.
Regarding funding, Mr. Mulholland said they were working with the bank to develop and implement a different kind of funding mechanism, they still have some work to do, documents to draft, but they have it in concept and they've shared it with the exchange. He then said that preliminarily, it has peaked their interest. Finally, he said that as it comes together in the next couple of weeks, they'd provide us with a full update.
So, lots of work yet to be done with the bank and the exchange only has peaked interest after being afforded a preliminary view.
It's effectively Wednesday right now. I cannot imagine any scenario where this conceptual notion of a funding structure gets completely fleshed out, where additional work gets done, where additional documents get drafted, and most importantly, where all of this takes place with enough time to present it to the exchange such that they have the time to absorb it, present it to their own board of directors and lawyers, and subsequently sign off on it -- all by the weekend.
Sounds like a chicken and egg scenario. And by that I mean that I'm not convinced it's possible to structure and contractually execute a complex capital deal without knowing, in advance, that said structure will ultimately be approved by the governing body for which it is being drafted.
Now, I grant you that maybe NP was referring to a LOI or a Commitment Letter, but even then, it would challenging to draft that kind of document without at least having a general understanding of the deal parameters that will make up the anticipated final agreement. But it is possible.
I really like NP. And I really like ALL that he has done, and continues to do, for the company. We wouldn't be here without him. But we're going to be moving to prime time soon, and there's no room for error when your show is broadcast during prime time.
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