Hi Matt

> What a wonderful way to discourage people from working with you in the 
strongest possible way.
> 
> Starting with vague threats is quite a strategy.

Quickly chiming in here. I'm digging in heavily to the different needs and 
drivers of businesses and individuals in the space. I think James is being 
quite literal here. There is not unity on what should happen after if we 
reach 2026 without any progress on covenants.

Not speaking for James, but from what I've seen there is no substance or 
chatter regarding any such "vague threat".

Hope that clears up this unfortunate misunderstanding.

On Wednesday, June 11, 2025 at 8:02:15 PM UTC-4 Matt Corallo wrote:

>
>
> On 6/11/25 12:50 PM, James O'Beirne wrote:
> > Greg,
> > 
> > > Just noting that the "what is the ultimatum" section is still a
> > > standing question
> > 
> > I think this is outside the scope of the letter and this discussion -
> > different cosigners will have different ideas about what should happen
> > if another 6 months goes by without a serious attempt at review and
> > integration. We'll cross that bridge when/if we come to it.
>
> What a wonderful way to discourage people from working with you in the 
> strongest possible way.
>
> Starting with vague threats is quite a strategy.
>
> Matt
>

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