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Subject: Requirements for Sydney Author: Steve. [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 10/01/03 4:39:51am Much of what is written is an undertstanding I have, some of which comes from the company announcement section and a lawyer who's name will be anaonymous. ------------------------------------------------------------ Subject to Cubic's appeal being rejected, Sydney would be signed, there are a few other things howver that make it not quite as simple as all that. ------------------------------------------------------------ The entity will have to fulfill requirements to show that it is financially viable, it may be currently subject to an audit or in the near future subjected to one. ------------------------------------------------------------ It is a politically sensitive time with an election due for N.S.W. in March---living in Sydney. I'm quite up todate on things, opinion polls show Bob Carr winning. I would imagine that bearing in mind there is going to be an election quite apart from just the normal process that the powers that be would want to ensure that justice was not only done but seen to be done. ------------------------------------------------------------ I have a newspaper article quoting a J.P. Morgan dealer stating that ERG will receive (subject to signing Sydney) 100 million up front, I am not the source of the information the newspaper article is. Source disputes this (I don't disbelieve source as I regard him as not only an honest person also as someone who has his nose to the ground and is a vegetarian.) the source states more like 15 million ("for a piece of software") Sydney is outsourced just like San Francisco and Seatlle is, in which the customer acquires the equipment from day one, the ITS consortium is a 100% controlled entity of Erg Group and with whatever amount it is, the Group gets the immediate finacial imapact of it. ------------------------------------------------------------ To settle Motorola and specific details of that transaction I will post later a sum of money was paid that bought out their interest--not only for Sydney--elsewhere in the world as well--and this will have an impact also on accounts with the matching principle--re equity accounting. ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ]