Greenbriar Sustainable Living Inc V.GRB

Updates from Jeff

[Dearlol]

Hello , I have a letter from Mr Jeff Ciachurski as following:

 

"As discussed, there is some misinformation regarding the payables and working capital situation of Greenbriar. Currently we have approximately $14.3M in total liabilities which includes related party liabilities which are:

 

 

  * $828K present value of $1M convertible note,

  * $3.8M present value of USD $3M convertible note,

  * $2.0M in bonus accrual to management and directors,

  * $4.1M in Captiva JV settlement,

  * $2.0M in Shareholder loans; and

  * $500K in AP to related parties

 

The net result is $1.1M in current AP which is more than manageable with the upcoming closing of the $40M Voya financing."

 

Jeff also addressed the current updates with Sage ranch that The city is revising the Water report right now.  I asked if there are any serious obstacles the company is facing and anything SH should be worried , also the reason why there is no news release yet, Jeff's respond as I quote: 

" There is nothing to worry about. The city is fixing the report. The city is in charge of a news release if they feel it is necessary."

 

 

[tylerreddick]

Did you ask him about the report that Strasser was in negotiations to sell his water rights, water rights we thought GRB shareholders had locked up with that very expensive option agreement? That would be a very material event.

[tylerreddick]

However, if GRB and Strasser have made a deal with the city where the city will buy those water rights, and then just charge each homeowner a fee, $4000 or whatever they deem is fair, then that would be ok, as at least the project would still retain that water. But that would also be a material event that would have to be disclosed when the sale is complete, if/when that happens, as it would be a

[shneps]

There 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

[lunderk]

Let me take a shot at this. If Sage Ranch doesn't get built. I'm not sure VOYA gets their break fee because GRB in this case did not go through another lender as the contract states.  I can not imagine a situation where GRB hires another lender without VOYA being the ones to walk away.  The warrents are useless and SR is worth nothing except the land it was suppose to be built

[Baserunner]

GOOD SHOT! l believe Montalva doesn't get built this year!  l believe Sage Ranch soil gets turned this year! Head Bottlewasher has burned too many bridges on both projects! Bull in a china shop! Sage Ranch gets soil turned because city too deep into this projects(legal fees)! Small town politicians covering butts to the electric! All this mess because one can't keep

[shneps]

I agree with you all the way Lunderk. The only thing about the VOYA contract language and terms is the fact we've never seen a signed contract, let alone understanding the terms involved and how they may effect a breakup fee, financial terms, covenants, etc. Lots of contracts/agreements I'd like to see.

[tylerreddick]

Shareholders will know the details of the Voya contract only AFTER is it signed, sealed, and delivered. It would be great to know now, but it just doesn't work that way. Now the Strasser water rights thing is a tad different. The negotiations between Strasser and the city is now public knowledge, so a lot of discomfort could be so easily cured by a simple news release explaining what is going

[Ripple1]

Tyler did I read you were possibly interested in investing in this?  Did you fall down and hit your head, I'm concerned for you Bud, LOL.  Real estate development isn't easy, it's fraught with bankruptcies and lawsuits.  And home owners that regretted they ever bought.   You all must think the good people of Tehachapi are blind, deaf and dumb.  They don't

[Ripple1]

Good luck to all of you.  I'm going take a LONG, EXTENDED vacation. I'm not going to read this board for 4 to 6 months, 

[Ripple1]

No I can't do it, I m going to retract what I just said.  I'll  just say I'm going to seriously decrease how much time I'm spending and wasting here.  Gonna check in and post way, way less that I can promise.  

[Ripple1]

Apologies to lunderk!

[tylerreddick]

" The net result is $1.1M in current AP which is more than manageable with the upcoming closing of the $40M Voya financing." Please correct me if I am wrong, but the Voya financing is for construction at Sage Ranch, not paying off GRB's accounts payable. Yes/no? And what if Voya doesn't come through? Is the AP still manageable? Just wondering out loud.

[shneps]

I believe it has been stated that Altus will act as the project's financial gatekeeper. Only releasing escrowed funds as approved for the project. I've seen lots of things approved though, like -  - executive washrooms - exercise rooms - travel - food - per diems - sports tickets - fuel - vehicles - relatives working (but not really) - materials being redirected Oh yah, I've