Ann: Top 20 securityholders, page-13

Rocket, you say,

I fully expect the funding to come from a strategic partner, which will not only be related to stage 1, but the project in it's entirety.

You make a valid point, I don't dispute it, and I think that it should be developed further. You and others (probably most of the shareholders) await the imminent coming of a strategic partner, but I wonder if you have any expectation as to what form it will be in.

In my mind there are three distinct phase requiring funding.

1. Stage 1,
2. Keeping the company afloat during the point where Stage 2 is complete and handed over.
3. The main contract, Stage 2.

Items 1. and 2. - $100 million, Item 3. - $2.6 billion.

This is a Strategic Partnership, i.e. Not a TO, or regular Partnership with a cash injection and issuance of shares and the like. This suggests to me, a number of JVs.

What does NRZ bring to the table, its broke. Any agreement will be complicated in the extreme.

I expect a huge disappointment if or when it is announced. It will be extremely one sided. Guess who the senior associate in this arrangement will be.

With Stage 1 still up in the air, I just can't see it happening at this point in time.

I think we will see CR after CR for some time. As it seems, NRZ is deep in debt, so it is not in the interest of unsecured creditors to act up and demand payment thus forcing the company into submission.

I am at a loss. What are you expecting this Strategic Partnership to look like?

All IMO.