Elephant in the room
Guys. While the IBC dispute might be a baby elephant that has its obvious problems, the real huge elephant in the room is that Ucore will be unable to secure AIDEA or DOD funding without a full Engineering and Design report. That E&D report will also have to include a FEED study. Ucore has not even started this process and it is a minimum of a one year process.
Why is this the biggest elephant in the room? Its becuase Ucore has maybe $300-400 K by average burn estimates in the bank at the end of the Septemaber quarter. By now its priobably less than $200k. They need money fast and IMHO no one in their right mind will lend it to them without that report. Not a chance. Quite frankly, what fool would even lend them money with the disputes in place. They owe another $1.3 MM CDN alone on the supposed OTP clause. The other $11 MM US or $14.5 MM CDN still owed on top.
You guys are focusing on the wrong questions. Why not ask you hallowed leader questions about the E&D study which Ucore openly admits is a key part of the information needed for the AIDEA loan ?