Quietly nestled among the risks to the project listed in the prospectus is the detailed route approval process and the fact that the Trans Mountain Expansion Project does not have an approved route. Kinder Morgan Canada President Ian Anderson said in the company's final investment press release that "our approvals are in hand and we are now ready to commence construction activities this fall" when the facts tell a very different story. The 157 NEB conditions on the project remain to be met, and the route approval process has been delayed over a month by the company's mismanagement of their responsibilities in it. About 400 statements of opposition to the route have been filed with the NEB thus far, and in all likelihood segments of the route will be rejected by the NEB when route hearings conclude. A shame that people who buy shares in the IPO will learn too late how wildly premature Anderson's statements were.