RE:Updates from JeffThere is also :
2M warrants @ $1.25 ($2.5M value) or a $1M break fee + $2.5M warrants ($3.5M value) for VOYA
$600,000+ (still to be negotiated) to a director's spouse for Montalva
A capital raise of over $2M was completed, therefore $250,000 to Cliff Webb
$2.74M in Sage Ranch bonuses are now $2M, because apparently $0.74M has been expensed as "consulting fees" and are being paid out.
"On August 4, 2021, the Company declared USD $2,740,000 in bonus awards to executives, directors and former directors of the Company in recognition of receiving full entitlement approval by local authorities for the Sage Ranch project. The awards were made in recognition of the many years of perseverance and effort involved in getting the project approved, reducing materially management salaries and director fees, and maintaining efforts to conserve cash. The expense was recording as consulting fees in the statement of loss and comprehensive loss. As at December 31, 2023, USD $1,489,211 (December 31, 2022, USD $1,993,652) remained accrued, and USD $504,441 (December 31, 2022 - USD $621,348) was paid."
Look at how fast that debenture is building in value $3M note now valued at $3.8M. Remember the investor kept $360,000 immediately as a "prepaid interest" so the value to the company was only $2.64M.
Most of the loans and debentures are paying 12% per annum
Montalva has $221,000 in option lease payments.
Payments to Captiva Verde are building at a rate of $116,491 starting July 1st 2024
A lot of this money is also being converted to dilutionary stock issuances as 1.1M shares have been issued since last year.
This merely shows that there is more monies owing and every month those amounts are increasing significantly compared to the $1.1M current AP. The Voya financing first tranche is supposed to be for only $12M and not the full $40M.
Fixing the report?
And then what?
"The City is in charge of a news release if they feel it is necessary."
But the fact you can't be issued permits until the water issues are resolved. It does not place the news release on the City (they have their own issues). This is directly relevant to Greenbriar and should be disclosed accordingly.
The PDP was approved (8) MONTHS AGO it is very relevant as to why the permits have not been issued, why the financing agreements haven't been completed, why the HOA fees are not 100% complete, why no yellow report has been requested and finally what the outcome of a court decision that resulted in the following -
"The peremptory writ, pursuant to Public Resources Code section 21168.9, shall command the City to void the certification of the EIR and any project approvals resulting from the certification of the EIR."
That's newsworthy, no ifs, ands or buts about it.
But water conservation news apparently was.