RE: RE: RE: RE: RE: Big Fish - Little Fish Everyone's right but it's not just the $35M from IMC. We have to deliver as well...
Section 2.03 "Subsequent Contributions" of the JV agreement states that Woulfe will have to deliver up to $15.75M (+ IMC up to $19.25M) at the Subsequent closing (official signing) to the JV company.
"...deliver to the Company at the Subsequent Closing, in cash by wire transfer of immediately available funds to an account designated by the Company, its pro rata (in proportion to its respective Equity Interests in the Company) portion of the applicable Subsequent Contribution"
So Major is right, 1-Shinhan Bank, 2-IMC deal completed.
We don't have that money right now. So we cannot complete the deal. I believe that is all that is missing. We have to complete the Shinhan Bank financing first.
Section 3.03 "Deliverables for the Initial Closing and the Subsequent Closings" has all the other miscellaneous conditions.