RE: RE: RE: RE: Regulatory Question There're just too many unknowns surrounding the IMC/DShinhan deal at this moment that makes all points being made about it pure speculation.
However, I am certain of 2 things at this very moment.
1. If the $5 mil. loan was due on Feb 25th and was not paid, then WOF must issue a NR stating that they are in default. Notwithdstanding any terms and conditions of the loan agreement regarding term extensions.
If however, the loan was paid on time, WOF, I believe, does not have to issue a NR stating this.
2. If the Debenture has indeed been fully subscribed and closed, then WOF must issue a NR stating this.
What logical conclusion can one draw from the above:
We can assume that the Debenture has not closed, therefore the IMC loan probably has not been paid back as WOF does not have the funds. And since WOF has not issued news regarding default on the loan, we can assume that missing the payment is not a deleterious event.
IMO, the key to understanding where we are headed is what happens with the $5 mil. loan. If it's paid back, one could assume that the IMC deal may be dead or in serious trouble. If on the other hand, if we 'hear' nothing about the loan, one can assume that the negotiations are on-going. JMHO