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12:43
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Originally posted by givebobajob:
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I have a sceptic view of the outcome of the word "commitments". It can be used as a pacifier (i.e. a dummy for SHs that are treated as dummies). Committed $1.15M from 3 x family offices @ $0/.01 - fails to say when the funds will (in full) be received. It is highly unlikely that any funds will flow from GPR until this is resolved. Summary When broken down, IMO, the announcement is really about a potential, purported, committed CR of $1.15M ($3.25M is unlikely) - to cover Director's salaries and overhead. With no advice on when, and from whom, funds will come.
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It's a placement. Shares issued by the 21st as per the 3b. The 2A will be out by then so funds will have to be received by then. All very standard. Irrevocable Commitment letters would have been signed Sheesh.
