Alliance Growers Corp ALGWF

Letter of intent

[Madhatter6]

letter of intent (LOI) Interim agreement that summarizes the main points of a proposed deal, or confirms that a certain course of action is going to be taken. Normally, it does not constitute a definitive contract but signifies a genuine interest in reaching the final agreement subject to due diligence, additional information, or fulfillment of certain conditions. The language used in writing a letter of intent is of vital importance, and determines whether it is only an expression of intent or an enforceable undertaking. Also called 'memorandum of understanding' or 'precontract'. Letters of intent are not always legally binding. Any party can back out for several reasons. So on a scale of 1 to 10 this is a 2. Until an actual contract has been signed this is just more smoke to cloud the issue. No guarrentee that Dennis' letter of intent is just that, a letter of intent or a precontract. Point alliance has nothing untill it has a licence and contract. As long as the stock price stays below $0.30 the private offering is pointless as one can buy cheaper off the open market.