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From: Perry and Lorae Merritt (plmerritt, hypermall dot net)
Date: 2002.04.11 - 12.40 MDT
X-Mailer: Microsoft Outlook Express 5.00.2615.200
We requested and received a written update from our friends in California. I will be the first to tell you that I don't understand most of it and we will get clarification on what we don't understand. The letter is from the European source to the guys in California.
Below are excerpts from the letter that deal directly with Antera. (The letter we got a copy of was dated yesterday and deals with other funding deals they are working on, including ours.)
Due to the changes in the current US and Offshore situation, we are spending night and day with accountants and legal consultants. As it stands we are having to now transfer all of our clearing to new broker dealers, thereby slowing down the process of start up times, we are still slotted for Antera Storage Concepts, it is grand-fathered in on time of registry. ... We have been using the Disaster Recovery script to get the investors to find interest. So we can basically turn the key as soon as we get materials printed and the accounts opened. ...Anyway, let me know where we stand with Antera within the next few days...if Antera are ready to move I will pull another 30 or so from #########. I will also need the funds escrowed to open the account as soon as possible before end of April.
Here's my read on the situation. The whole 9/11 thing has really affected the overseas funding efforts. Our government in an effort to dry up terrorist funds, has also made it more difficult for legitimate deals to go through. However, they can go through it just takes more effort and time than before. Our source of funds is working hard to get the whole routing thing straightened out. They make mention of an older deal than ours where they've found a route, but it will only be good for one deal.
They are having to establish new brokerage accounts to route the money through. They are actively working that issue. The "30" in the excerpt refers to "broker type" people.
I don't know what the reference of "as soon as possible before the end of April" means. I don't know if that means they're trying to fund us by then or if it is some sort of intermediate step.
Mitch is planning a call with the guys in California this weekend to get clarification. He is also planning on driving from Vegas to LA on Monday to meet with them face to face. We should have more information this weekend or Monday. I don't know if that means more answers, or just more information.
You now know all that I know.
Perry
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