GREY:CUDBF - Post by User
Comment by
investderpon Sep 05, 2014 6:49pm
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Post# 22911629
RE:RE:RE:RE:So hard to decide right now with 7 mins to go.
RE:RE:RE:RE:So hard to decide right now with 7 mins to go."All documents, PIFs, subscription agreements etc. from all parties have been collected by the company and we were prepared to close. At the last minute, representatives from KMDC informed management they needed an extension to get the funds to us. As stated in the press release, this is due to unexpected timings in the regulatory process, not a lack of willingness. They believe they may need up to 5 weeks to clear the final stages. KMDC wants to proceed with the deal and they continue to push the deal through the regulatory process. The deal is also legally binding. In all financings, transaction risk is present. This said, KMDC remains committed to the deal and hopefully both POP and KMDC will have this fixed in five weeks or less. Past that, the company hasn’t published or provided any information to me other than what is stated in the press release."