"The parties currently expect to conduct an initial closing on January 12, 2015, which closing will include a substantial majority of the schools covered by the Purchase Agreement, subject to the satisfaction of conditions to closing, which satisfaction may be subject to some uncertainty." Sounds pretty sketchy based on CCi's history of failing to meet regulatory expectations.
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Sketchy indeed. Won't be long.
hoodwanked ;-)
Nobody trusts Jack any more. The longer this all gets strung out, the longer he continues to collect a paycheck complements of the students he hoodwinked and the American taxpayers.
Lets not forget they gave us an extension to Feb 5, but they expect to close on jan 12. This means the sale may not happen till Feb 5. Do you really trust Jack? He has strung us all along so far.
Common legal speak that is used in an 8k for a sale. Due to the fact that not all conditions have been met -- as of yet -- their is uncertainty. Some of those conditions could be centered on finalized DOE approval and ect.
http://www.4-traders.com/CORINTHIAN-COLLEGES-INC-8850/news/CORINTHIAN-COLLEGES--Entry-into-a-Material-Definitive-Agreement-form-8-K-19619275/
Certainly there is a high probability that CCi will be vapor within a few months.
Would love to know what conditions are subject to some uncertainty...