RE:Highlights of Conference Call (June 12 @9am)"The company understands share dilution is bad and hence why seeking financing from Bank. They already have $1.5mil loan and said this will grow once cash flow positive this year"
Share dilution isnt bad Marc. Especially with an engaged leader like yourself who is actively buying along with the directors all the cheap stock they can in an incredbily undervalued company. Actually, you know what is sort of bad?? Issuing $1M of convertible debentures to your biggest shareholder ACCEL to FUND your End of June Convertible Debenture refinancing. Tsk Tsk; getting credit cards to pay off credit cards. What high school dummy walks into a bank and asks to do this?? Oh right; you didnt need to walk into a bank with ACCEL licking their chops everytime your and CFO name shows up on the phone.
"The CEO understands shareholders are pissed and will work hard through revenue realization and being transparent about new contracts through press releases coming soon"
Are you telling me that we as shareholders have a right to know who were selling to??? WHAT???? Is this a new rule on the Exchange? I wouldnt work too hard on this marc; this doesnt sound right. If youre that pissed on cash flow and share price - I have an idea. Take the $200 USD loan you took out of the company and pay it back? First payment is past due......Oh wait, what is this little note buried in (19) of the financials??? Well well - the company approaches $35M loss and for all that trouble, lets not pay it back in installments like you agreed to. Lets just give the company a little more interest and we'll give you a call in 5 years. SIM cash flow positive??? They must be soon. No rush to pay loans back.
Thank you Marc for showing incredible leadership and financial Savvy; most mining companies need leaders like you. Honest, sincere, pissed, lets get this house in order, transparent. Just incredible. We are all thankful for your time spent today engaging us in corporate finance.