GREY:CXEYF - Post by User
Comment by
Fusaichi777on Apr 05, 2010 12:52pm
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Post# 16956870
RE: Ummm...Serious Challenges!
RE: Ummm...Serious Challenges!Good insight, a couple of thing that I want to point out is .......
(1) The restructuring fees of US$900,000, which is expected to be payable on December 31, 2010 to RBS.
(2) Geofinance has agreed to provide up to EUR2,000,000 to be available to Candax in the form of a subordinated working capital loan to be drawn upon at the request of Candax and provided at the discretion of Geofinance.
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So Geofinance understands that the $13mm cash infusion into the company won't be enough, so they are offering an additional $2 mm Euro in the form of working capital.
There should be a NR this week, with our New CEO providing an update on EB and the directions of this company for the remainder of 2010. Good luck.