December 1

220 Wireless December 2021

5  comments

Finally, we got an update...

Lloyd is our managing partner who is our best contact with Lou from Metro Connect (MC).

This is a copy/paste from an email today December 1, 2021.

MC had a company meeting yesterday.

Our situation was one of the topics. They have a very expensive attorney in charge of putting together an offer that is legal and financial people who are actually doing the work.

They also know that it has to work for us, it has to work for them and it cannot raise any red flags for the institutional investors that they are talking to about a cash infusion.

It is not complete yet. Barring complications, it is very close.
Business wise, they are seeing quite a few contracts in the holding/storm pond area. They also have hardware in their facility from one of the leading manufacturers of PLC’s. When they are communicating with the MC system, that company will be selling their PLC with the MC system as a package.
They are talking to multiple institutional investors. They will get money from one or more of them for a minority position in the company. He expects this to happen during the first half of 2022.

We're not sure if we'll have another update til after the first of the year, but if something comes up I'll send it right out.

Thank you

George & all the other Managing Partners

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  • Assuming they get money from one or more institutional investors for a minority position in the company during the first half of 2022, what does that mean for us? For nearly five years now (I think) I’ve had one share of Seattle Metro Wireless that I would like to be finished with and completely out of this investment, hopefully with a profit. Is that going to be a possibility anytime soon?

    • Richard great question.

      All investors have been waiting for something substantial back in their pocket.

      What we think will happen is Metroconnect (MC) will somehow distribute some shares. There are people who work for the company who have put in their own money and also want something of value to be traded like a stock.

      Ideally, we’ll get some kind of shares that should have some kind of liquidity to them therefore somehow be sold for cash.

      Each investor should have a choice to cash at least some of their shares or keep stock in a private growing company, but we don’t know how much at this time.

      As far as possibilities, some of the managing partners believe this is a very good investment still which has a good business foundation to grow and be profitable.

    • a PLC is a Programmable Logic Controller, it’s used where a computer will tell a physical device to do something, like a lawn sprinkler system “brain” where if it rains it will not water but no rain it’s on a schedule. (simple answer)

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