Post by
QUANTUMJUMP on Aug 24, 2016 9:08pm
Look Gibbons - facts are fun
In exchange for this extension, Geo-Jade agreed (as of July 29, 2016, being the date of the amending agreement) that failure to receive the SAFE approval by Sept. 30, 2016, would entitle Bankers to the $20-million (U.S.) reverse termination fee
Comment by
gibbonsj on Aug 25, 2016 12:36pm
Quant: That is s pretty skinny statement, there are always conditions attached such as who is responsible for SAFE delays. This is a very rich deal for BNK do not think that management/insiders want the $20M break fee over the buyout. There is only one deal on the table. The alternative is to collect the $20m fee and watch sp crater to sub $1 and then a year later close the doors.
Comment by
QUANTUMJUMP on Aug 25, 2016 12:44pm
No Gibbons the onversation starts with you admitting you did not even read any press releases You stated if they did not get SAFE approval the breakup fee did not have to get paid you have no clue and have done zero DD