Robert Page .... The following is your previous post.
" Hey folks
the money received in march from those investors
has been mostly (if not all) spent on Monster already.
Now , as far as the new deal is concerned, QIT certainly asked
the blessing of those "lenders" and got it.
They are better off right now !!! They lent the money on an option, now they have an
asset (15% of the claims) in QIT.
They are probably opening Cristal Champaign bottles right now. "
1) You say the money is mostly if not all spent on Monster .....
So my question is ... how do you know this ? Are you an insider that is privy to this information or are you just assuming this as I cannot find any facts at all pertaining to this. Do you know for a fact that they will not have to pay this financing money back ? Do they still have to keep making the 9.75 % interest payments on the financing money quarterly as it states in the financing agreement ? I see nothing anywhere that says they don't . Where are they getting the money from to make the quarterly interest payments ?
2 ) Then you say ... " Now , as far as the new deal is concerned, QIT certainly asked the blessing of those "lenders" and got it. " .... So what do you mean here.? You actually know that QIT talked to the " lenders " about this and got their " blessing " or are you just assuming this also ? Do you have insider information that the rest of us don't have ?
3 ) Then you say .... " They are better off right now !!! They lent the money on an option, now they have an asset (15% of the claims) in QIT. " This could be argued either way. If LOT ends up hitting a major find in the Monster property then QIT will have only 15 % instead of a possible 70% but on the other hand they don't have to come up with any more financing ( which could possibly be the reason that LOT changed the agreement in the first place ?? ). One in the hand is worth two in the bush .... right ?
Anyways I hate assuming things and like I said previously there are many unanswered questions here still . It would be nice if QIT would make a news announcement clarifying some of these questions. Once they did this then these concerns would no longer be an issue lingering over their heads and they could get on with moving their company forward.
None of these questions have been answered yet anywhere that I can find. If you have any facts to the contrary will you please copy and paste them for the rest of us to see Robert. Thankyou very much.