GREY:WFEMF - Post by User
Comment by
mercurysmithon Mar 01, 2013 4:39pm
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Post# 21064769
RE: RE: Just called mr.constable
RE: RE: Just called mr.constable Tech one, the primary need for the debentures was to keep IMC honest and not demand more terms before extending the $5m loan. My guess is that IMC and Woulfe then negotiated that extension in good faith, knowing the final agreement is very close, thus making no need for Woulfe to go through with $10m in debentures. The difficulty with disclosing what happened to the debentures and the loan is that it is so intertwined with negotiating the entire closing of the deal. They likely don't want anything distracting the completion of those negotiations.