Pugs:
A presumably (and hopefully) minor issue -
You wrote:
"...The investor has sent two letters of intent informing RMCW & RMIL that the $10MM will be rec'd the 28th, before the extension deadline stated in the 8K. ..."
From the most recent 8-K,
sec.gov
Per the agreement with Rocky Mountain Crystal Water, Inc. was to receive $5,000,000 from an outside investor within 30 days of the signing. Since that date the Company has given two 30 day extensions. The Company has received a copy of a letter from the investor dated January 1 1998, advising Rocky Mountain
Crystal Water, Inc. that the funds were in processing at this time, the Company has now given another 30-day extension due to the above mentioned letter.
Thus RMIL has been granted three 30 day extensions (90 days total) from the original deadline of Oct. 25, 1997 (per the 10/09/97 8-K). By my calculations, the date 90 days after Oct. 25, 1997 is tomorrow, Jan. 23, 1998 (recall that Oct. and Dec. are 31 day months). Even if the actual extension agreements (as opposed to the 8-K) specified 1 month in each case, the current deadline would be Sunday, Jan. 25, 1998. Either way, the date for receipt of the $5M equity purchase, Jan. 28th, is after the end of the third extension.
Are my calculations correct? If so, has RMCW granted RMIL a fourth extension?
TIA |
