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So just 10% of the needed funds (letting off the matching) raised so far. That has to be disappointing.
Is there a clear sense what will happen to the raised money if they fail to reach their goal or if another buyer steps in?
For you guys that are close to this, what exactly does this text from their email yesterday mean?
"For those that might be confused, we are no longer entertaining the concept of selling equity ownership in our community resort as a bridge to ownership by the non-profit. This change in course takes us directly to a closing where the Saddleback Mountain Foundation purchases the land and ski area assets and the Saddleback Mountain Community Resort (SMCR, LLC) is a wholly owned subsidiary."