Tickets? What tickets?

I'm not sure that this has been brought up elsewhere, but lost somewhere in the major concerns around transparency, conflict-of-interest, etc., is that MSB missed some key organizational compliance details in their rush to hoodwink the City.

One of those is that Section 9.001 of the Texas Business Organizations Code requires foreign entities to register in Texas prior to conducting business here (foreign means businesses registered in Not Texas). As a reminder, MSB organized initially in Delaware in 2009, and then registered as a foreign entity in Florida in 2010.

If you search the SoS website, you'll note that MSB Global Services, LLC is not a registered entity in Texas. Their subsidiary, SSDC1 LLC, is duly registered, but they are not.

The problem here is that MSB itself negotiated and signed the Letter of Intent with the City (i.e. conducted business) without being appropriately registered to do so. That's right, the company that's supposedly gonna deliver an 18 billion dollar, exceedingly-complex AI data center couldn't take care of a simple registration process.

Now, I'm not gonna pretend like I'm an attorney, but it doesn't seem likely to me that the City could or would invalidate the LOI over this. However, it is a significant procedural gaffe and further shows that 1) the City likely didn't conduct proper due diligence and 2) MSB doesn't seem to be well-organized or have the tangible presence and verifiable structure that established businesses do. If you're the type of company that's accustomed to doing business in multiple states, you know how this works and probably don't make this kind of mistake.

Another risk (while probably not likely), is that MSB could be subject to an injunction proceeding by the Attorney General to prevent MSB and it's agents (employees, representatives) from conducting further business in the state (Section 9.051).

Wouldn't that be a kick in the pants if the City got through the Vistra lawsuit just watch Ken's henchman roll into court and shut down Smiley Lucas and Nate's girlfriend.

This is one of several things. Just wait until I start in on the engineering part.