The principals of White Hats are generally pleased with the reception that their announcement has received.
It has, however, become apparent that the rumor mill is trying to run away with what they believed to have been a pretty straight forward message and they have sent along the following additional statements:
White Hats LLC is in the middle of the acquisition process. They have secured an exclusive position with the creditors and are working towards finalization – but nothing has been concluded yet. The statement “White Hats LLC has purchased Smart Parts” is an incorrect characterization of the situation. A better way to state things would be “White Hats LLC has an agreement in principal to acquire the Smart Parts assets.”
Additionally: there has been a lot of speculation as to the individuals behind White Hats LLC – as is to be expected. While names can still not be revealed at this time, what can be said is this: White Hats LLC has multiple principals.
An undertaking of this size and complexity requires a wide range of talents and experience. White Hats LLC initially put together a very talented and experienced team and is actively seeking the involvement and assistance of additional talent.
Thank you all for your continued interest and for your patience as we work through this.