Post by
Beerperson on Feb 21, 2021 8:00pm
Like Hans & Frans I'm Here to Pump U(core) Up!
Stop being such a girly man. Ya, you must read dis press release cayfully. Yeah, like look right here for our favorite part .....
THE TERMS INCLUDE IBC PURCHASING THE MRT PILOT PLANT FROM UCORE FOR US $1.175 MILLION PURSUANT TO SERIES OF PAYMENTS.
No one has bit on this yet. PURSUANT TO A SERIES OF PAYMENTS. To me, in plain english this means that UCORE will return the Pilot plant to IBC for $1.175 million only after a series of payments are made. OK. Who is making these payments and to whom, and what is the value of the payments. This part of the news release is one of the most subtle and perhaps vague.
I believe that they are telling us in somewhat coded terms that IBC is sending a series of payments to CORE. Upon completion of which IBC will make an additional payment of $1.175 Million to UCORE in exchange for the Pilot Plant. It is not until this final payment and Pilot Plant release is completed that this settlement will have been fully executed.
I am not a lawyer or an accountant just a beer drinker. I have studied a bit in these fields and can suggest that the remedy of MAKING WHOLE is probably somewhat at play here. If UCORE ends this and has not received any benefit from IBC it would be completely within reason for UCORE to receive back all development payments made to IBC and maybe more besides. It is totally unfathomable that UCORE would pay for the development of this and then walk away out the money and the product. No way that happened. The press release quietly suggests that IBC is paying but that one or both aprties get to save face by not publicly disclosing how much. The accountant in me tells me that we will learn the amount in an upcoming UCORE financial statement - wait for a line item somewhere in INCOME, UNDISCLOSED FINANCIAL GAIN, UNDISCLOSED REVENUE or some such thing and the amount will become apparent.
The HAMMER as described in this agreement is the PILOT plant. The aggreement in my oppinion says after IBC is finished making a series of payments UCORE will return the Pilot plant for 1 final payment of US $1.175 million.
Look forward to your thoughts and feedback. Don't be such a GIRLYMAN!!! YAH.. YAH.. if your too weak for this GYM go and find anuzzer von!
The only thing better than german beer is UCORE!
BP
Comment by
Rodtipup on Feb 22, 2021 6:37am
All good points and definately makes you think...Like you I agree that Ucore never walked with nothing...the devil is in the details of which we have none at this point.