RE:Doing Business Overseas:Benefits of Using a Letter of CreditYou do realize that Drosrite International LLC is only a 5 month old registered name (Foreign entity) in the state of New Jersey and its listed business address is just a virtual office? That is all there is. No tangibles. No credit information. Not even a public contact phone number. Pyro did an extremely poor job of creating this US entity.
So the story goes that this penniless non-physical company is going to build multi-million dollar "Made In The USA" equipment to sell to the Saudis? How and where would or could they ever possibly pull that one off?
And to top it all off, a US bank is going to issue a financial backing multi-million dollar Letter Of Credit to what amounts to a vapour company that is also structured as an LLC? I think this half-baked cockamamie story as it stands should be filed under "Flying pigs".