OTCPK:MEAOD - Post by User
Post by
btrevorbon Feb 27, 2014 7:56pm
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Post# 22261550
Silver lining
Silver liningIndeed the loan extension is not the best news ever because is confirms that MTO is not cash positive. (Told ya)
It also leads one to believe that MTO has higher cash costs than - beat around the bush non official statements - suggest.
If MTO was anywhere near $950 (AS in 20-30% near) they would be repaying loans. The only reason they are getting infinate extensions is the source of the money.
The silver lining is that they issued a news release, if they were going to default why make the effort and alert people of their ultimate demise.
Having said that (Told Ya) the financials will tank the SP, if they do not release the financials the SP will tank, if you believe in the company get your stink bids in early tomorrow.
As the sneak around the rules to the Nth degree the news release that they are not issuing financials will come after close of market and before close of business.
My opinion only