Question-and-Answer Session
Operator
[Operator Instructions].
You have question from the line of John Sabo of Point Bridge Capital [ph].
Unidentified Analyst
Good morning. I just wanted to make sure, I heard you correctly, Paul, in your introductory remarks, you said that back in January. I think you said, you had actually signed a term sheet with Widmer? And today--?
Paul S. Shipman - Chief Executive Officer
Well actually? yes. Let me just see what I said here. Well, it’s agreement in principle on a term sheet. We didn't sign anything.
Unidentified Analyst
Okay. But when you say agreement in principle on a term sheet that would sort of imply that financial terms were fairly well scoped out, or not? or is that not the case?
Paul S. Shipman - Chief Executive Officer
I think that term sheet can take many different forms. It was couple of pages, as I recalled, and not intended to be a public document. Tending to be a basis on which to move forward and be not definitive.
Unidentified Analyst
Okay.
Paul S. Shipman - Chief Executive Officer
The definitive agreement would be a much more detailed document with schedules attached to it and? but we decided not to go? sometimes you can go from the term sheet to a letter of intent and then to the definitive agreement. We elected to go from the term sheet to the definitive agreement, that's a? it's a process.
Unidentified Analyst
Okay. How would you characterize, what's the remaining issues that would be involved between the three parties? Would it be more financial in nature? Or would it be more the social issues as to structure, and who is going to be doing what? could you help us with that a little?
Paul S. Shipman - Chief Executive Officer
We are getting down the road. There's not many issues remaining.
Unidentified Analyst
All right. Would that imply then that we should be hearing something relatively soon? sooner rather than later or?
Paul S. Shipman - Chief Executive Officer
Process about setting up an expectation, I mean we will let you know.
Unidentified Analyst
Okay. Would it be fair to say that beyond some of these expenses you have detailed on the call and in your statements, is that the Widmer merger negotiations have had an impact on your operations whether it's been distracting to sales and marketing people or whether it’s forgone strategic opportunities such as contract brewing, for example. Can you give us an idea as to how this may have impacted the Company over the last quarter or two?
- To read the full transcript on Seeking Alpha, click here »
