GREY:SCNWF - Post by User
Comment by
blanketon Dec 21, 2004 4:56pm
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Post# 8344103
RE: Well Distant
RE: Well DistantAt least they mentioned in their Oct. 22 release the loan or credit facility they received in Poland (515,000 zl) was being used towards aquisitions. So like you say, what is the monthly burn rate in Vancouver (approx. $30-$35,000)? Not exactly what we wanted to see the money being used for...to pay overhead.
Also, this institution receives not only 12% on the loan but 175,000 common shares...are the shares for good faith? The "free shares" end could be great for the institution if they were worth more than .50, but the 12% interest rate is a nice return for a loan.
Linus