Karl, I don't know who said Fung thinks everything is terrific but I would have to guess those were not his exact words. The author maybe be paraphrasing or interpreting his comments.
As far as the paperwork issue, I will go on record as saying that I believe paperwork was the reason the end of July deadline was missed. It isn't hard to believe that the time table of events outlined in the primary binding agreement was based was based on information supplied to Kry by lawyers who said it would be done.
Once it became apparent the end of July time frame wasn't going to be meet the plan to get the A&F agreement signed before finishing the rest of the deal was changed. The new plan was to present shareholders a complete deal to vote on including the MOC transfer and permit.
Another important thing to remember is that the items needed to close the deal could not be approved until all the paperwork was complete. If it took an extra month or 6 weeks to complete the paperwork then the whole process would be backed up.
Is there a chance the deal isn't completed by end of 4th quarter? Yes there is and it won't be Kry's fault.
Everyone who is worried about arbitration and the March deadline don't. I don't like quoting anyone when posting here because I feel private conversations should be kept private. When I said I spoke to Fung I never quoted Bob but I will now.
I asked Bob specifically about the possibility of arbitration and did he know the exact date the filing would have to be made by. Part of Bob's direct quote to me was "We're not stupid". Kry is doing and has done everything possible to get this done ASAP.
While it is easy to poke fun of comments like Kry, China and VZ want to get this done asap it doesn't mean it isn't true. The simple answer of then why doesn't Hugo just issue the permit has more to do with a 3 party deal including to separate countries.
JJ
