Kijk, dit verklaart een hoop.
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Tim said on September 1, 2014
“Youngman agreed to make a cash contribution in the amount of Euro 25,000,000 whilst Spyker has made its contribution by transferring the technology it developed for the Spyker D8 Peking-to-Paris (“SSUV”). Youngman’s contribution shall be paid in instalments in accordance with the development and manufacturing plan of the SSUV.”
Money that was never paid… YM did pay 6 million Euro to Spyker though when the contract was signed, but thats all that happened… after YM did not pay, the deal was canceled…
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terry9000k said on September 1, 2014
Having just done a quick search, I can find many articles re: press releases regarding the completion of the joint venture, but am yet to find one that says it has been cancelled.
Is there a link Tim.
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Tim said on September 1, 2014
Terry, Let me teach you how this works nobody ever makes a press-release about canceling a deal, press-releases are made for one thing only: to bring the stock price up and make money for the shareholders! Nothing else! If you issue a press-release that your deal is off, what do you think is going to happen to the stock-price?
If you want more information about cancelations of deals etc you’ll need to know somebody, why dont you give Spyker or Youngman a call and ask how their deal cooperation is going, then you’ll get an answer, the phone number is on Spykers website!
As for the phoenix platform, Youngman never owned any significant share of that, neither did spyker so that whole deal about them sharing that technology is bullshit from the start. There is only one company that owns the rights to the platform and thats NEVS. Youngman received 1 part of 12 and they have non-exclusive rights to it, plus according to the engineers at Saab, the people at Youngman couldn’t manage basic engineering so how are they going to develop a new architecture? This is also clearly documented in Jens book btw!
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terry9000k said on September 1, 2014
Fortunately I am not that interested , as it is now all yesterday.
Where to now, is what I what to know !!..
Thanks anyway…..
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scand said on September 2, 2014
So, Tim, your not saying VM sold youngman a ‘bill of goods’ are you? If it was indeed a bullshit deal – then no wonder they didn’t finish paying!
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Tim said on September 2, 2014
Youngman didnt finish paying because they had no money to pay with, but what they did was sign a bunch of deals stating that they would! They continued to do so for several months until SAABs ELT decided to make a due diligence by using a private external company of Youngman which found out that YM didn’t have anything to put on the table at all.
When confronted with this fact Youngman did nothing… Victor realized this and sought funding elsewhere including a very rich south american investor, companies such as North Street Capital and many others. Some turned out to be frauds others didn’t but all of them had one thing in common, none of them wished to get into that extremely desperate situation that was Saab…
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