On 06/06/2016 10:01 AM, a.ashfield wrote:
Seeing that Cherokee have been having some problems, I wonder if the failure to pay Rossi $89 million is partly because they are short of ready money.
This makes the most sense to me. I don't believe there's any way they would have continued a relationship with Rossi for the past 3 years, unless they were certain of the technology. It doesn't take a 350 day test to prove that something works. That test was to prove the reliability of the device. That's also the only reason that Darden would have agreed to a test using an ERV of Rossi's choosing.
The most logical explanation for the way that IH acted, is that they simply didn't raise as much money as they had expected to raise in the past year; and if Rossi is correct, they only raised around $60 million. They probably just didn't raise the money they were expecting.
Craig
