Omnipoint has until 9-20 -2021 to provide the documents needed to submit to the SEC and Vital to complete the regulatory and funding process requirements to get our deals done with TopRight and Watson Cable. The deadline is based on the Memorandum of Understanding and Term Sheet between Vital and Omnipoint. They missed the 8-31-201 deadline with presentable documents after several edits. Vital imposed the 8-31-2021 deadline to determine if Omnipoint was real. We don't expect to hear from them.
The triggering event in the vetting process was the request for a firm commitment letter, which Omnipoint asked us to prepare, followed by additional document requests to fulfill the purchase of the target companies. After several discussions, Vital prepared the Omnipoint commitment letter draft, and we emailed the first draft of the commitment letter on 8-12-2021.
The Omnipoint representations made during the initial conversation with Coleman and Hartwell also raised questions about their authenticity, which eventually revealed their inability to deliver.