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My blog on a daily

Hello,

I've thought long and hard and I decided to continue to share my daily via a blog.

The new name: Target Begin!

His address: goal-entreprendre.blogspot.com

soon for the first post

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The closing

I owe you an explanation of the last post on my new shoes ...

Here we are therefore closing on signing protocol, the GAP and attachments ( long and painful ...)
It happened nevertheless in good spirits.

These formalities over the photo memory:

From right to left: F. Dubroca, D. Delamard, Valerie, and S. C. Rouanet Eloir

And the explanation of my new shoes

With this gift Mr. Dubroca (thank you they are superb) I am ready to walk the forests of France and Navarre!

The blog "Target Takeover!" ends soon (I should mention the ACCRE) .

I think about a new blog that will deal with the MDC life and my daily new employer.

you soon

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Thanks!

The thank you list will be long because many of you by my side, very close or a little later, during these 17 months.

This list may be not exhaustive, thank you not to stick too strictly!

Let me start by thanking my wife Isabelle, who never doubted ( who has never shown!) and my daughters who give me the strength to overcome.

Thanks to my step-parents, Claude and Francis, for their trust and support in this project.

Thanks to my family for being worried about my fate and taking regular updates.

Thanks to Gilles for wanting to associate with me (pity we did not succeed!)

Thanks to Mr Francis Dubroca for choosing me as his successor, for supporting me on the delayed funding his wife and thank you for welcoming me home with open arms.

Thanks to Daniel Delamard CFK Finance without which I never had the issue and that its interventions has helped advance the negotiations. Thank

cabinet Antel and Céline Rouanet Masters and Jose Michel Garcia, who after an aborted first file, followed me, advised, needle in a professional and confident. Thanks to Hilaire

Ditch the Regional Council for supporting the record. Thanks to Yannick

Cambacédés OSEO for receiving me and for reviewing its position.

Thanks to BPSO and Christèle Etcharren agency Mont de Marsan for his commitment to defend the case.

Thanks to the firm and Mr. Hecquet HECS for the audit.

Thanks to the Caravan of Contractors and especially to Jean-Paul Debeuret

Thanks to ARC for their advice and training in this fabulous company takeover that has marked the long and tortuous path of the future buyer. Thanks to the group

ARC 231 (Dominica, Tanya, Emmanuel, Philip, David, Nicolas, Jean-Luc David, Didier, Christophe and others) for these exchanges have helped clarify my project. Thanks to Patrice

Gérault for discussions we had. Thanks to Martine

Failly for his advice, his remarks and his warnings of an entrepreneur. Thanks to Philippe

Lemoigne, More Manager of Chariot, which made me want to become an entrepreneur and for his proposals. Thanks to Jukka

Ylanen CEO Jungheinrich France for giving me the means to realize my project. Thanks to the group

Jungheinrich not offering me direction subsidiary between 2003 and 2005.

Thank CCIP and especially Pascal Marietti for her commitment to the buyers. Thanks to Yannick
Hoche PACE for his advice. Thanks in

Infodesk Leonardo da Vinci for the great tool at my disposal.

Thanks to Norbert for his advice Amrouche (free!). I have only one regret: he did not accompany me! Thanks to Isabelle

Barrell, EMIS, allowing me to realize life in a "small" structure. Thanks to Master

Flament, notary at Fontenay-aux-Roses, for his professionalism and advice.

Thanks to Patricia and Christian CP Pochon Tips for having me, listened and even more good advice. Thanks to Sandrine

and Frederic Transportation Marsy for their confidence.

Thanks to Laure Lévêque-Seuillot for information transmitted and kindness. Thanks to Betty

Loumagne of ANPE du Plessis-Robinson for its monitoring and patience.

Thanks especially to my friends for having responded present (and ladies first) Eve, Isabella (x2), Laetitia, Lydia, Eve, Nina, Sabina, Sandra, Sra, Veronica, Andrew, Benoit, Christian, Eric Frederick, Guilain, Lothar, Michael, Philip, Peter, Thomas (I await all in Aquitaine!)

Again thank you to my former colleagues, Aline, Anna, Beatrice, Catherine, Elyane, Laurence , Liberata, Nathalie, Bruno, Frederic William, Matthias, Serge Thierry, Vincent ... (try to give me news from time to time!)

Thanks to everyone else, I can not name because they are so numerous, that made me move my thinking and the realization of this project.

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My new clothes ...

Notice to prospective buyers: do not underestimate the time required for the closing!

We started about 15:45 and finished around 7:15 p.m. (I honestly can not remember the exact time but it was around ...) what brought us to miss the train and gain following an hour later.

But all's well that ends well: the closing is completed. Mr. Dubroca last night did not realize yet and I, quite frankly, either.

This morning I put on my new clothes or new shoes instead of my (as soon as Mr. Delamard sends me photos I will explain!) an entrepreneur.

523 days after my departure from Jungheinrich's it!

A Sunday for a special thanks post (and there are many people without whom I could not succeed).

From today we will tour the bank to change signatures and guarantees ( few papers and a few signatures in perspective, I get used to strength).

soon

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This time it's good!

I 'm writing from my new house where I Cestas again an ADSL connection. The weekly blog will be resumed.

Tonight exceptional event so exceptional post: J least a few hours before the closing!

We prepared since the beginning of the week with the assignor the latest documents, validate some points and we all leave tomorrow in Paris, he to finalize the transfer of his company and me for the recovery.

say we're excited that this is done is an understatement as obtaining financing has been painful and lasting (for the fans: 4 ½ months) . The

next week (as soon as the funds are released) I will reveal the name of the bank. On Friday

confirmation (or not?? Recent months have made me cautious ...)

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Holidays are well over! The holidays are over

Miracle?

's it I signed the loan offers and we can do the closing next week.

soon!

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Yep, the holidays are over and I'm delighted!

Why? Just because I talk back to work and will allow the funding to move forward.

My account manager at the .... ( I give you the name as soon as I offer! ) called me Thursday to tell me that there was no problem with funding and the need to modify the internal editing of record to obtain the loan offer.

Friday she called me back and contact me tomorrow to give me a time (accurate this time?) .

The closing is approaching ... and business is alive and well at Menard Darriet Cullerier.

I took the summer to move forward on the marketing product, a new website, setting up a server and a network version EBP. What happiness!

We point this morning to start in September and October, particularly progress on the new generation of chopper disk.

This equipment improves productivity at sites reinflation reducing by 2 the number of passages because it combines 3 tools in 1: roller chopper / spreader / recovery discs.

It is usable with a tractor of 140 hp, weighs less than 5T and has a width of 2.20 m to 2.50 m width.

importantly novelty, this material will also be available to rent from 499 € per week * HT!

(* rental Monday Saturday - including maintenance - outside break and non-transport)

Welcome back if you go back and see you soon

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Still pending funds

I left a short week vacation during which I seek to join agency bank know the status of the loan offer.

Monday 13: day of closing -> wait ...

Tuesday 14: Bridge bank -> wait ...

Wednesday 15: Holiday -> wait ...

Thursday 16: Day agency worked but unreachable -> wait ...

Friday 17: I have had agency but I expect the answer because my account is charged on vacation and all the staff is overwhelmed ... -> Wait ...

Here is a summary of the week and as I write patience is the mother of virtue!

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Pending Signature

In August while idling: I am still waiting and still return to the bank for the dates of availability of funds.

I went last week to sign the offer of insurance, the bank could not advance without confirmation of insurance. must remain calm as the lost time is important!

Banks are closed on Monday, I would not reply until tomorrow what for a signature Thursday is short. Continued ...

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postponed

As it seemed likely the signature can not be dated August 1 because the time was too short for the bank.

Theoretically August 9 remains possible, practically I still do not know because the bank expects the agreement of the insurance ...

We tweaked the latest talking points for the closing, this time we are ready.

So more than ever in the starting blocks, we expect the assignor and I confirmed the bank!

PS The MDC team is also back out the last of July machine (with a priori four days behind the schedule which is very good considering the workload) .

August looks set fair (not time but whatever) and September as well. How long this will last but I do not know until I take this opportunity!

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Holding still lagged

So far I have no confirmation that the holding company is created, I think we'll postpone the closing until next week.

I'll try to find out more today.

This is not serious but we would like to finalize this part of the transferor and finally "formalize" the award. Last week

my wife sent the furniture I have approved (for those who planned to come, patience because it will take some time before we can welcome them ...) we sold at Chatenay and owners are from Friday on Cestas.
I did for the first time this morning the house / business. Appraisal: 40 minutes and 73 km (the fuel budget will go up!) . Despite all that is good and no worse than the 7 km than I did before in sometimes 2 times longer ...

good week and I post a note once again before recovery.

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creation and signature creation and signature Holding

The holding company is being created on Nanterre.

If everything goes normally, it should be registered no later than Friday, July 27.

I'll get the final Kbis, send it to the bank and complete the fundraising.

We should finally be able to sign (we have set with the seller on 1 August and hope to keep that date but that does not depend on me ...).

Also I am putting in place contingency contracts to secure my family against a number of risks (death, illness, disability ...).

Not happy with this current charge, we will also this week to sell and move Châtenay-Malabry, buy and move on Cestas.

And by the way, in case you forgot, we are also in the transference with the transferor and the activity in Menard Darriet Cullerier full swing with a strong July in production!

good week and soon for other news.

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Constitution for the holding and financing conditions precedent

When I arrived yesterday evening in Paris, I had a pleasant surprise: the Aquitaine Regional Council has given its consent for participation in audit costs, legal and accounting.

The sum is important and I thank them again for helping me in my approach recovery.
I hope to see Hilary Ditch at Menard Darriet Cullerier end of July.

I hired other approaches for other reasons with other agencies, I will talk about later. After gathering

(managed to gather?) contributions to the capital of the holding, I can now finally get to create funding (I waited until the last moment to avoid blocking out too early ) .

Rouanet I received master's office yesterday Antel list of documents required:

- 4 original copies of signed articles
- certificate of bank deposit funds with the bank (2 originals if possible)
- a copy of my NIC duplex
- an original of the certificate of conviction and affiliation not completed and signed (attached )
- the power to be filed by me
signed - proof of residence within 3 months: EDF - rents ...
- a certificate of residence
- 1 copy of the letter addressed to AR for clearance to the trustee or co-owners to my landlord to inform the
clearance - the proof of the sending of the letter LAR above original
- my social security number

As you can see the formalism is far from complete and, although the ARC training is well thought out, there are so many details that it is essential to be accompanied!

For articles I actually have to sign again because we had to modify (so it is left for e-Shuttle and fortunately there are only four shareholders).

I confirm that I have not chosen the easiest challenge in having to deal head-on acquisition of the company, learning a new area and move (fortunately that children are on vacation at the grandparents and my wife is in Paris to handle last minute surprises ...).

In this weekend I am a little on the ball and I'm glad it was my last round trip.

I sit alone on July 27 Cestas, my wife joining me in late August after his holidays and the end of his notice.

We will recover the children a week before classes begin what will give us time to organize the house.

For those who take vacations, I wish you good, for other good luck! (my blog attendance decreases rate of departure!)

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lifted

The various conditions precedent have now been lifted after the information I received on Friday.

There are now "more" to be the holding company and obtain funding.

The signing date is late July.

good week.

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The transmission plan

few weeks ago, my seller suggested me to develop a detailed transition plan until the end of the year.

The idea is excellent and goes in the direction of pérénisation because it allows the best use of the coaching period and clarify who does what.

The plane on which we we've agreed is the following:


I'm leaving tomorrow so "final" in the first instance in the Landes region in guest room and then moved to late July Cestas. I am finally!

I will also see the bank to settle the last points and agree on a closing date. My fingers are crossed so that there is no last minute surprises ...

My attorney handled the appeal for ACCRE, I sent registered letter Friday morning. I hold you informed of the return.

good week.

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Against Funding Guarantee: ok!

My news is accelerating ...

I received email confirmation of the guarantee agreement for the cons of both SLA and the Regional Council. Yippee!

Okay there are still some steps to signing but I think this time I finally spent a gear and it goes forward.

soon for more

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Some clarity!

A quick word to tell you again that I had verbal confirmation of the regional council this time, the SLA guarantees cons + CR would be accepted.

is a relief after two months of waiting ... I think it's "box".

I'm waiting now return to the bank and the loan offer.

As expected we will appeal the decision of the DDTEFP Mont de Marsan regarding the refusal of Acre.

We will also formalize the transferor that we exceed the time limits.

And, more importantly in my view, the prospects remain strong at MDC.

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The end of the tunnel?

This week has been very positive because I got during my visit on Thursday the verbal agreement of OSEO for the cons Sofaris warranty at 50%.

(Even after the day has started disastrously by the use a car loan which was polluting and had difficulties to double trucks (max 110 km / h flat out downhill!), plugs worthy of the Paris region and the final 2:20 for a trip that normally do not ask than 1:15 / 1:30 is delayed 30 minutes for this key event ... For me who am always very punctual and had early, starting at 7:10 for an appointment at 9:00) .

The meeting was very constructive and I thank the team for having me OSEO (what they normally do not) and listening and hearing the arguments put forward.

To meet the criteria desired by OSEO Sofaris, I modified the funding by tracing the particular vendor credit in the holding company (by doing so I reduce the amount of the loan) and blocking a substantial amount (under the mounting global) current account in the operating company (which reinforces the existing cash and reassure them of my commitment and secure funding for recovery) .

This change does not bother me because it is reassuring to all partners and if I need further financing that I would seek approval to OSEO Sofaris to unblock the money.

The Regional Council should also act against collateral at 20%.

I would definitely set next week when the bank confirmed the facts have me now because it is what makes the link with others.

intervention OSEO Sofaris and Regional Council reassures the bank and will decrease as the amount of my personal guarantee (30% of total a priori) .

The only downside is the rate charged mini currently 4.77% ("Trichet threshold") + 0.84% (memory "margin" OSEO / CR) + margin of the bank (to be negotiated !?) .

It starts to make "cheap" but since I decreased the amount of the loan by 16% the additional cost is minimal compared to my initial simulations.

I should finally see the end of the tunnel next week and hopefully I can finally announce that my funding!

As I will most certainly fall behind on the transfer of shares Tuesday I see my lawyer to formalize this delay and also to review the other elements. In parallel

whole family prepares the move which is expected the week of July 23, my oldest daughter lost her first tooth, and is considering the color of her room.

Continue to contact me via Viadeo or by leaving comments on this blog, I will continue to do my best to respond to your questions (based on my experience and my knowledge of course!) .

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Funding for the resumption of business

Tonight, after all this time spent in developing the funding application, to refine hypotheses, to minimize the results to present income statements as "realistic" as possible tonight so I do not definitive answer regarding the financing of my recovery!

I learned this week OSEO Sofaris had refused to guarantee against on the grounds that the company had (I quote from the feedback I've had phone) a continuation plan (ongoing since 2000 with 6 maturities were settled in cash and 2 non-cash current ...) and a repayment capacity insufficient to meet the loan recovery.

When you hear that answer the phone after 6 months to have worked on the feasibility of taking over the business, it must be strong to want to continue undeterred! (for the fans buyers , Keep the faith at all times!)

That's what I did, determined to not give up!

I immediately made contact with the Regional Council to see if they had more information than me.

Hilary Ditch reminded me quickly, saying that a priori the case happened to be validated in OSEO Sofaris did not include the estimated (shame to have spent hours working on the study market ... and re-injury for the 5% growth assumed for the forecast 2007 but will become 10% in late September on current trends ...) .

Thursday I will present this time a complete dossier (including the backlog in mid-June and Billing 2007) OSEO Sofaris to try to get the response against collateral.

it is unpleasant to have to justify himself instead to devote his energies to the development of the company!

Do not ask Mr Sarkozy why TPE and French SMEs do not grow and that our economy is so bad.

We are thousands of entrepreneurs to give you a responses: lack of support (making minimum risk) when requesting funding!

Still, the bank continues to believe in the project and support me in my approach. I should be thanking the time comes. (you'll know which one it is when I finally finished the financing)

In fact, I also thanked "my" transferor for his support in this difficult phase.

Fortunately it's there and it confirmed my decision to send me the business when the dead-line exceeded. His support is crucial. He promised to write a "ticket" when we completed the sale.

great week and see you soon.

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Grand gap

past few weeks I am poised between two lives, between regions, between two worlds.

A balance increasingly difficult to maintain, as I am attracted by the new life arises.

I'm almost every other week since March 19 in Aquitaine region either from twelve weeks.

And, during these twelve weeks, every two weeks, I continued to make progress in the implementation of my project in the company, met with customers, suppliers talked, exchanged with employees, working on products, the website ...

And for six weeks, my wife managed the household alone ...

And every two weeks, I packed my bag on Sunday evening, I settled away from home, have not seen my daughters, then I redid my suitcase on Thursday evening and came home on Friday evening at the "house" and spent the next week in the Paris region ...

Besides, what is now my "house"? That in the Paris region which has been sold and we will leave at the end of July? That in the suburbs of Bordeaux that we just bought? The one where I just spend the last week and when I return in a week?

I do not regret these changes, I just want you to finger the implications of the takeover of a company outside the region in which we live.

I started presenting my project to banks on April 24 and obtained the first positive verbal feedback (except those that are negative of course occurred earlier) yesterday after six weeks.

Certainly I did not choose a folder "easily bankable" (no risk) , so it makes sense that decisions are more difficult to take. Despite

(through?) weeks of spin and responses that are slow, I'm still confident that its "good" business: one in which I see myself and my appreciation that exists!

I am now a contractor, and I look forward to completing the financing and switch permanently to the status of an entrepreneur!

I also look forward to leaving the Paris region, which even if I spent 19 years, will not leave me a lasting memory with its constant stress, its traffic jams of any kind, its concrete and pollution.

At this time next week to answer definitely a positive bank.

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Obtaining ACCRE and acquisition company

Returning Friday evening of Bordeaux I found a good recommended for withdrawal from the DDTEFP Mont de Marsan .

I was expecting mail. I have not taken the time to get to him because I have 15 days to withdraw the Post Office. It will wait for my return I think I know what it contains. A priori

ACCRE I have not been granted under the pretext that I is a holding company for the resumption of business and I do not buy back shares "live".

If so, I will of course appeal as compared to I have read, including PACE :

"The recipient must exercise effective control of the company, that is to say
or hold more than 50% of capital (alone or Family (*) with at least 35% as staff) or be an officer in the company and hold at least 1 / 3 of capital (alone or with family (*) with at least 25% as staff) provided that another partner does not own directly or indirectly more than half of the capital. "

http://www.apce.com/index.php?rubrique_id=11513 & dwt _id = 106 & amp; amp; type_page type_projet = I & = 1 & param = 0

This is not dramatic in absolute terms but I do not understand the reasoning behind this refusal.

I will join my lawyer about how to appeal.

nice Sunday.

PS. Good news: we found a house in Cestas !

PPS I'm still waiting for the return of banks consulted for funding. Patience, patience ...

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History of Menard Darriet Cullerier (MDC) and Financing

-Menard Darriet-Cullerier , the story of a passion ... Tonight I decided to tell you more about the company MDC which this year celebrates its centenary.

Based in the heart of the forest Aquitaine, the largest in France with 1.738 million hectares (or 12% of solid French), business- Menard Darriet Cullerier and are very actively involved since the beginning of twentieth century development of forestry techniques and implementation of modern forestry in maritime pine.

founder, Jacques Darriet (June 11, 1873-January 3, 1959), Landais strain, Surveyor training expert, goes in 1907 a workshop of mechanical engineering in the Landes in Labouheyre .

Soon the company is at the service of the forest because, at the initiative of Mr. Darriet, the first débrouissailleur Landes forest was created in 1922.

This interview technique and clearing undergrowth, quite original for its time, is still valid and its equipment has since spread throughout the massive as the chopper Landes (or roller chopper). This material, simple and therefore easy to maintain sturdy, aerates all types of soil depth and constant grind slash after clearcutting.

As the company distributes to the time Fordson tractors is therefore natural that the chopper Darriet is hitched to a tractor Fordson for more benefit of the Landes forest.

His son, Sir -Menard Darriet took over the company and then Mrs Menard perpetuates tradition.

is part of the history of the company I'm further and I hope that Ms. Menard , still alive, could tell me more when I meet him. Once the recovery is effective, we expected with the current leader to visit her.

In 1984 Sir Francis Dubroca bought the company, he will have the idea of completing the product line- Menard Darriet adding to them in 1992 and plows girobroyeur of Business Cullerier founded in Gironde in 1867. She now has

a range of equipment to cover all the needs of its customers by forestry equipment for maintenance and reforestation.

• Equipment reforestation:

- plows ( Foralex / Cullerier , furrow, bisoc , trisoc ...)
- the cover-crops (X , focused, super heavy ...)
- seeders

• Forest maintenance equipment:

- the girobroyeurs (CB , standard, medium and large forest)
- the Bushmen (handset / mid-disc )
- the rotobroyeurs

equipment • Logging:

- trailers, vans recovery wells
...
It also offers solutions such as combined Bushman + mid-disc :

It has expanded its presence to the design and launch of the planter and propelled Automatic forest seedlings in soil blocks that uses systems sophisticated.

It also offers a range of services such as:
· the design and construction of forestry equipment to "map"
· repair equipment Forest
° The supply of spare parts
· the sale of forestry equipment occasion

Today, with a presence in the forest more than a century, the company MDC has expertise in techniques for reforestation and forest maintenance and a national reputation for robustness and quality of its products.

If you have Further information on the history of Menard Darriet or Cullerier to tell me, let me know!

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Transferee

I wanted to address the complementarity between action and patience because it is one of the drivers for my son proposed takeover (speed up, slow down, wait and leave ...) .

During my research I found this tale of Jean de La Fontaine seems to me very timely and will be the centerpiece of this "paper".

"The Lion and the Rat
should, as far as we can force everyone: It has often
need a little more than oneself. This truth
two Fables are authentic,
So the thing evidence abounds.
between the paws of a Lion
A Rat out of the ground enough to dizzy. King
animal on this occasion,
shows what was and gave him life.
This benefit was not lost.
Has anyone ever thought
Lion That case had a Rat?
But it happened that at the end of forests
This Lion was caught in a snare, roaring
which could not undo. Sire
Rat ran up and made both his teeth gnawed mesh
That carried all the work.
Patience and time
Do more than force and rage. "

In a world ruled by immediacy and responsiveness, patience is an essential quality to the buyer and the future business leader I am.

Two visions of management time collide for me right now, that of the financier and business.

In the commercial world, to grow and resist competitors must be responsive (including more reactive than its competitors, yet not over-reactive) , respond to customer inquiries, make offerings to prospective customers, listen to the market, develop products and services and resolve problems that arise every day ...

In the financial world, time seems to suspend its flight, my file recovery is expanding and taking over the day tunes encyclopedia so the number of documents to be provided is important, it is enriched and reassurance that I still see no show any response ...

And meanwhile, the company life Menard Darriet Cullerier continuous, order intake continues, the continuous production, transmission ahead ...

But bridge after bridge, week after week, the time passes and the delays were large are reduced to a trickle and became tense, forcing me to manage my impatience and accept what I regard as a waste of time and energy ...

This represents a waste of time and energy because I am involved every day in the company but I really wanted to do more ...

course, I'm back in action in the heart of the action, plan, try to anticipate, organize, manage, but after nearly 14 months I want to finally succeed and complete recovery! However

"Patience is the mother of all virtues" and it makes me feel good to manage my frustration!

PS It's two days that I'm on this paper - I hope you enjoy it!
soon.

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I'm late for my weekly newsletter because I am traveling without traveling solution type GSM and WiFi connection is far from widespread in the hotels where I stay!

So today I write from the WiFi business.

What happened last week?

Actually with the bridge on 8 May, not much unfortunately (As an employee you appreciate the decks but as a promoter, I hates them!).

I kept follow my record of funding and I would normally be the first returns from tomorrow.

It's always interesting to see that people interested in starting to assist you in financing may change your mind! Surprising nonetheless! When is a structure that specializes in financing small business?

Yesterday I was in the Aquitaine Regional Council to provide an update on the project. A pipe

interesting if you want to take over a company absolutely in Aquitaine take contact with the cell creation / recovery. They are excellent advice.

We met in Paris in February 2007 with Hilary Ditch and I can confirm all the good that I thought at the time.

He's a professional and friendly and really tries to help you in your project. A big congratulations also to Fabienne Mendoza, his assistant.

Between two appointments to the funding, I work early this week in the company.

We visit the houses with my wife this weekend. She comes to join me for the Ascension with my girls, which will allow us to acclimatize. A

next Monday with certainly a principled response from banks?