Hi Lauron, I have had a couple of interesting conversations with different people directly involved with what's going on and here's a bit of a response to your post:
- as for Julius, Peter, PageActive, etc. PageActive has been sold, however, Julius and Peter and Scott McDougall and a group of others from PageActive, that we were expecting to be working with Mt. Tom are still around, they are the principal people behind Global Netertainment, so the "ongoing affiliation with PageActive" will NOT be, however, the "ongoing affiliation with the people we need" will.
- I have been asking for and have NOT received the bio information I promised to post, since I can't just make it up, you haven't seen it yet. The players involved from the Global side of the equation have not really been that cooperative on that front, however, I believe that I finally know why. The VSE has requested a fair bit of detailed background information on the valuation that was presented. That is where the delay has come from. It is not new forms, it is the corroborating detail behind the valuation, additional financial information, etc. They have apparently decided NOT to do anything really substantial on the PR front until the deal is approved. I have suggested that I thought that may be the case, but I have now had it confirmed.
- The name change was something that Sheldon wanted to go ahead with immediately after the AGM, they are now looking into the logistics of the name change, if the deal still hasn't been approved yet and may very well wait until we have approval. This has not yet been decided, for sure.
- as for the PR company that was contracted, I have not really pushed for much detail on them yet. I have continued to try and focus on getting the information I felt was more pertinent and important, the bio's, the web site launch, etc. If you refer back to the reason for the delay on getting the bio information, you will see that Arlitt would NOT have had much to do, at least not publicly.
- the launch of the sites was to to initially happen without the e-comm component enabled, however, there have been 2 things impact that. They have been trying to get ready to launch WITH the e-comm running instead and they do not want to push it out until the deal has become reality.
- the sportsbook affiliation WILL come, I believe that deal, for all intensive purposes is done and again waiting to be announced when the deal has approval.
From what I gather the requests for the level of corroborating detail, on the company and the valuation, came as a bit of a surprise. I do NOT believe, in any way, that the deal is in jeopardy, however I do believe that the guys at Global backed off on taking things public because they realized it was not as much of a "slam dunk" as was expected. I am still hoping that we will get some of the updates we have been waiting for, sooner as opposed to later, but???
As for the approval, I have been led to believe that the middle of Sept. is a more likely time frame, to see the finalization of the deal, by the time all of the requisite information has been filed with the VSE, reviewed, etc.
There was one other item, it was 1:30 am when Scott and I were talking and he was trying to get his post out onto SI. His trial subscription had expired, the quickest, easiest way to get it posted was to e-mail me. I believe he has now taken care of getting his subscription properly updated.
I hope this has helped to clarify a few things.
Salut,
Leigh McBain
PS - my contract has NOT been renewed, I was told yesterday that I will not likely know for sure until we are much closer to having the approval actually go thru. No surprise at this point. |
