RE: 100% to 0%Option of arbitration? Interesting. But I have a feeling HQ will not want arbitration but will either sue or otherwise continue to mess around with RIC on a legal level, regardless of PAT's chance to win this. Why? Because it's HQ's only chance for the moment to avoid further cash calls. Calls for money that they don't have, according to all paperwork available from the company.
PAT raised a measly $450,000 several month ago. So little that the company was apparently embarrassed enough to not turn this into a separate news release (like they always did with previous financings). Instead they hid it in the deepest depth of their MD&A of two month later. They'll probably burn the $450.000 on administration costs, legal expenses and management fees. After that ... ? $2,625,000 plus interest owed to RIC by Aug.28. There is no money in escrow because there is no money at PAT.
Kerber's latest is that RIC wants to settle peacefully. Oh yeah? PAT's own NR of Aug.29 has this to say: "Patricia received notice from Richmont on Aug.21 demanding payment ... failing which RIC intends to reduce Patricia's interest". Clear enough I'd say.
I know I know. Next thing he'll do is murmur about more secret calls into PAT and that so far hell has not been "activated". Nobody wants to hear about your filthy phone calls Kerber. If PAT are so sure about not losing the property in question then have HQ issue proper NR's. Or shut up.