
Joseph VerdirameNY, United States
Jan 30, 2018
Dear Petition Supporters,
Please find the following report. It appears as though PwC Finance was hired by Orbite to act as financial advisor in order to assist Orbite with its search for financing or recapitalization with a strategic partner. The process began on January 11, 2018 and will continue for a period of two months. As this process is still in its initial stage, no letter of interest has been received as of the date of this report.
While progress is being made (details in report), the cash flow forecast presented in Section F of this report show that Orbite’s funds could be completely depleted by the end of April 2018.
This appears to be our last opportunity to write to elected officials for funding support in order to protect Orbite Technologies Shareholders. Please do so. Thank you!
Sixth report of the Monitor on the business and financial affairs of the debtor company dated January 25, 2018, made available January 29, 2018:
https://www.pwc.com/ca/en/car/orbitetechnologies/assets/orbitetechnologies-023_012918.pdf
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