GREY:WFEMF - Post by User
Comment by
mercurysmithon Jun 23, 2012 2:15am
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Post# 20047026
RE: RE: Today's trading
RE: RE: Today's trading CJHallee, no worries--I think everything is on track. Remember, no news is good news regarding IMC. They already signed the legally binding agreement which was only subject to their 60 day dd. If they don't exercise that "subject to" release clause within the time allotted, then the agreement is complete. Think of it like a "subject to" home inspection when buying a home. The purchaser can exercise the clause for the agreed upon window of time and still get out of the deal if the inspection shows some major flaw that had not been disclosed when the agreement was originally signed, but if the "subject to" time passes and the purchaser does not advise the seller in writing of the intent to exit the agreement, then the agreement becomes fully binding. That seems to be what is happening with IMC. None of us know for sure the exact date the 60 days expires (June 23?24?25? or by the end of June if there was an extention?). The exact date has never been disclosed (because it depends on the official date they served the FS on IMC, which could be a different date than the date it was disclosed on the NR), but all indications are the agreement is still solid. I have no doubt but what some day next week that will all be confirmed. That will be a great NR next week.