This step is necessary to bypass a delay in the acquisition and licensing. It is required by the Venture Capitalist to insure the purchase of the land and other assets.
We are funded for the total amount of the project covering more than $2Billion, and an added amount from Private equity for $2.5 Millions. The Venture Capitalists require us to deposit $30M in a bank until we own the land and we need another million for operating costs to secure all the required licenses with the governmental bodies and contracts with the businesses and personnel needed to complete the planning and construction of the buildings and other structures. The $30M in escrow, in the bank will be paid, really, returned to the bank as soon as we acquire the land. The $1M for operating costs will be paid out of the private equity.
As you consider making the loan for the total amount needed, or providing the working capital needed to get the project shovel-ready. Be aware that the project is out-of-country. And we have completed all the due diligent, and will make all information available for your consideration and investment in this project.