Regulator’s concern????The news says:
“Longford Energy Inc. has elected not to proceed at this time with its short form prospectus offering while it evaluates alternative financing proposals and clarifies matters raised by the regulator with regard to the company's commitments on its properties. The financing was previously disclosed in the corporation's news release dated April 28, 2011”.
Is LFD just about to lose their licence because they haven’t paid Kurdistan Government $25MM?....is that what SEC is concerned about?....is it possible?
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the years ended
December 31, 2010 and 2009
Page 4
“The obligations under the PSC include a onetime signature bonus and capacity building bonuses, the first of which was due and paid to the Government within a period of 30 days from the execution date of the contract. The remainder, consisting of five equal monthly amounts of USD $5.0 million each, became due beginning in August 2010 and are currently past due and outstanding”.