Dear WCIU Friends and Colleagues,
I want to keep you informed briefly about another update related to progress in the negotiations concerning the potential sale of a portion of our property.
As you know, we entered into discussions with a number of potential buyers and then agreed to a non-binding period in which we continued exclusive discussions with one of those.
This party is still one of our potential buyers, but we have elected to re-open our conversations with other potential buyers again. The reason for this is very simple: more time is needed to work through the specifics of the arrangement with them, and the timeframe for the original non-binding period has lapsed.
We will explore whether any new potential buyers may have entered the picture and which of the previous parties are still interested. The door is still open as well to renew a non-binding agreement again with the same party.
We know that people are praying, and we are grateful. We will continue to keep you posted with updates along the way.
PS. I am also aware that from time to time different rumors emerge about the property. Just today I saw a claim that WCIU had already sold the property to a real estate company called RK. First, there has been no sale -- to anyone -- and there is no sales agreement -- with anyone. In addition, while RK is, in fact, our real estate broker, they are not even a potential buyer.