OTCPK:MAUXF - Post by User
Comment by
3lectricgorillaon Apr 17, 2013 3:34pm
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Post# 21267020
RE: RE: RE: RE: Oil Prices Tanking
RE: RE: RE: RE: Oil Prices Tanking How am I littering the board with two posts? Also, because I have a negative view of Mart I'm short selling? From Mart's most recent interim financial statements from Sedar.com, Mart had about $55 million in cash as of Sept. 30,2012 with another $32 million in restricted cash. So lets say total cash of about $87 million as of Sept. 30 2012. They paid a $18 million dividend in that quarter alone so lets say that pulls cash down to $69 million. Mart is still paying dividends with no oil production which would further grab from this cash base. The $100 million borrowed is accesible but goes on the balance sheet as a liability, not an asset to the cash or restricted cash section of the balance sheet. I'm not saying Mart is having a cash crunch....but the risks here are starting to grow ever larger as production continues to be delayed, Mart continues to pay a dividend, and crude oil continues to fall. Good luck