This is not money that is coming in. Read the email. MF is expecting a Swift 760. That is a guarantee. That is NOT cash.

Now he needs to go out and find a bank that will put up money against the guarantee. Do you know how long it will take a local bank to do their due diligence and go to committee to decide if they will lend money to MF even with the Swift 760? I sure don't.

I've seen banks refuse to lend against a clean irrevocable letter of credit.

I have written off this debacle already. If it trades again, I'll be pleasantly surprised. But don't get excited until MF actually has cash in the bank... and that could take a loooong time in this current economic landscape.

And having given the caution, because no one seems to know what a Swift 760 actually is, I would like MF to pull this one off so I can take the wallpaper off my wall and let someone else have it.

Whattamaroon ....am I.