RE:RE:RE:RE:It looks like NES has raised capital to cancel the deal.I disagree. This is not a gift. The maturity of the loan would then not be structured to come due at the closing of the TMM deal (or August 31, 2015). It would have been a swap...2M for x number of shares. But that's not how this was structured. It gave $2M for 50,000 shares (50,000 x .$72 = $36,000 plus there are additional 200 shares per month per $100,000 - interest fees).
It's a loan that bears interest at 5% and has to be paid back at the closing of the TMM deal or August 31, 2015 since they obviously were not given enough shares to cover the loan amount. If the TMM deal does not close and if the proceeds are to cancel the deal and pay the $5.5M fee then these two shareholders have to be paid back the $2M in August which gives NES time to structure another deal with another party or perhaps allow for these two shareholders to take the company private or perhaps some other intent that they might have.
This is not a gift. In my opinion, it's $2M given by two existing NES shareholders to be added to the exisitng $3.6M corporate cash balance to pay the $5.5M fee for the cancellation of the deal.
We will know more this week...perhaps as early as Monday.