EMAIL DETAILS

This is disappointing. Sorry about that. We'll see if we can think of other options but really thought Jose Luis was perfect otherwise.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.

On Apr 11, 2012, at 12:35 PM, Jeffrey Cooper wrote:

Just talked to Pablo Arias. He told us that their position has not changed and that they are still insisting on getting 50% equity in the company for only part of the cash required. So, unfortunately, we are nowhere near getting something done with them.
I told Pablo that we really appreciated their time and attention throughout the process, but that we would be seeking other partners. He returned the sentiment.
It was a friendly call, but not productive. So….. I will be sending a "thanks but no thanks" email to Jose Luis and will copy you all.
Needless to say, this is disappointing but that's life, I guess. I appreciate you guys trying to help down there. If you know of anyone else to contact, please let me know asap.
Jeff