3DM Worldwide - Superstock??

graham - the agreement with Cornell was approved to issue 6,666,667 shares for Ł5m credit line, which is available to be drawn down in 3 tranches IIRR, entirely at the Companys discretion. There is no firm committment to draw down this line of financing. However, at 75p a share, the terms don't look very favourable now, so they may need to pass a new resolution to be able to draw down the full amount. At the moment if Cornell allow a change in the terms, then they could draw down up to my Ł2m. That is my interpretation of the agreement anyway, or at least from all the bits that have been made public - of course I have not actually seen the actual agreement.

Scrutable - the confusion seems to be that Royal Building Solutions (as officially announced by 3DM) are one of the many distributors of Royal Building Systems TM, which is part of the Royal Technologes Group. However, RBS seems to be an independant Company, yet the "company" has somehow allowed shareholders, including MW, to believe that RBS was part of RTG.

"Silkwood

“Silkwood’s partners have amassed land banks in Texas and Mexico. A joint venture has been signed with Royal Building Solutions. The planning consents have been obtained for partial development in both areas. Initial construction will be underway soon and sample houses are being built in Michigan."



This was what MW had to say about it last year:

"Questioners will be relieved to see that Silkwood works with Royal Building Solutions and Royal Building Products, a company based in Canada, and one of the leading builders of pre-fabricated houses. Royal is described as a 30 year-old multi-billion corporation. Find it yourself on the web, though sceptics might suggest that there is no information about finances. Perhaps that requires more research."

This was similar to the dodge Dakota truck bed which we were also led to believe was in collusion with Daimler Chrysler, when in fact they had pulled out, even thought all test were succesfully passed - remeber this when thinking about th ford agreement too. Again, MW also believed that DC were directly involved with the production of the bed, as he used it as verification for tipping the shares. Then it subsequently turned out to be not the case. IIRR even prhc thought Dodfge Dakota were directly involvedm until I highlighted him to the statement by 3DM after the "attack". Regardless of what you think about the way the EK/TW racket happened last year, it certainly showed up many innaccuracies in Company statements, and they still seem to behave in the same way now. Lessons learned? It doesn't look like it from my view.

Regards

Adie2001