Andre,
Thanks for your comments. The amount of work required to merge Scitech into RCG has been somewhat underestimated. Additionally, there are several variables that have an impact on timing issues as well which are very difficult to forcast in the beginning of the process. A good analogy to this is building a house. The contractor, banker, real estate agents, and lawyers give you a time line at the time you decide to buy and build. Variables such as availability of materials, whether, illnesses, etc. can all impact the ability to meet the anticipated timelines forcasted in the beginning, or even during the process. Mergers behave similarly.
RCG has been interfacing with the following groups:
1. SGL - a Singaporean Company
2. SGL's Singapore Counsel
3. SGL's Singapore Auditors
4. SGL's Canadian Counsel
5. SGL's U.S. Counsel
6. SGL's U.S. Merchant Banker - Burrill & Co.
7. RCG's Canadian Counsel
8. RCG's U.S. Securities Counsel
9. RCG's Auditors
10. RCG's Investment Banker - InterUnion/Credifinance
11. InterUnion's U.S. Counsel
12. InterUnion's Canadian Counsel
13. Etc.
This should give you a feeling for the amount of interaction that is going on and where the potential for "variables" can come from. We are not experiencing any problems, just the normal amount of workload associated with such an indeavor.
It is very difficult for us to comment more what Scitech is all about until we have a signed binding agreement. In our last news release, we disclosed our expectation to have it within a very short period of time. Some diversions occured which have pushed out the timing a bit, but not severly so. More patience is required.
In regards to stock price, I try to limit my comments in this area to "responses" to the questions/comments on the thread. My commentary is strictly opinion and is no more or less valid than anyone else's opinion. And by the way, as an Investor Relations contact for the Company, I get asked about "stock price" all the time and disagree with your statement about it being "unusual".
Keep the questions coming.
Joe |
