re: brad your intellect is showing. Barren.....any country or entity is hard to deal with.
What you must do though is announce the truth.
And what you must do is have some protection against losing a major deal.
This deal is the largest in SKG's history...its $23 million USD.
But how do you announce a deal without any money paid?
How do you announce such a large deal without punitive damages and have the damages secured by way of letter of credit or deposit?
How do you announce such a massive deal when there is no history of this size of deal ever being done by SKG?
It dwarfs anything previously announced.
Where will they source $19 million USD worth of stock in 4 months to satisfy the contract?
Where will they package and make the currency modifications to the products in 4 months?
Why did a Director resign "after" the company making deal was announced?
Why would you have to borrow $850k at 18% interest after such a deal was announced?
Why wouldn't SKG source the funds from bankers in Australia by way of a 180 day bank bill?
IF the Russian deal was such a goer a 180 day bank bill would have easily been repaid as SKG get ALL the funds NO later then June 30 of 2005.
SKG stated they have a 26% Gross Margin in the deal....$850k would be peanuts and SKG would easily have repaid a bank bill and easily would have obtained a much better rate with NO share dilution.
Many questions and many alarm bells.
SKG
skynetglobal limited
