Hmm.
Unsuccessful outcome, eh. What does that mean?
The Directors clearly wanted 100% ownership of Zoleo Inc. So one possibility of "unsuccessful " is 100% went to Roadpost which to me is good news if its a fair price.
I have always been puzzled by the unnatural way to express something whenever they have reported arbitration progress.. each time word for word the same.... "there has been no indication or communication FROM the arbitrator since final submissions". Reeks of a legally true but evasive or misleading by omission statement to me..
Maybe there was communication TO the arbitrator as promised in the final submission?
I am wondering if the BOD made a final submission conditional on, maybe, financing being found by now. And that financing wasn't found. Certainly, the $3-4 M legal costs would have impacted the forecast of no new equity needed.
We'll see in a few days and be better able to judge.... if we get a full and transparent picture.
Only a few years ago the Chair was fair frothing with enthusiasm about the future. Maybe he's all froth and little substance. Maybe he is OK.....this arbitration process and outcome will be a key measure of his suitability in the role.
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