QUESTION
- Eric, In a February 22nd blog you wrote: On the subject of refinancing, we are confident that we have identified advisors whose track record, ability to understand our objectives and proven contacts are of sufficient quality to proceed with preparation of a formal proposal to appropriate candidates that are already known. Over the next 90 days there will be a great deal of work going on to complete this. We are now 50 days into the 90 days. Are you confident that you will be able to complete this task in the next 40 days? Any elaboration you can make on this would be greatly appreciated. Thanks.
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ANSWER
The advisors referred to above are experts in the field. I have now witnessed it first-hand through collaboration. With the assistance of these experts, presentation and due diligence materials have been prepared. We are making good progress within the target window. It would be inappropriate for me to speak for anyone else as to their ability and willingness to meet the time lines, however the company itself has been focused and efficient in pursing this outcome. The company has much to be proud of and this is understood by all persons involved in the process. This is a positive experience because it enables the firm to achieve two important things: continue building and to discontinue 504 financing. It is also a positive experience for the investors because Winning Brands has a strong foundation for success.
