OTCPK:AETLF - Post by User
Comment by
ufoolmeon Aug 20, 2016 9:12am
159 Views
Post# 25160865
RE:RE:RE:RE:Shares outstanding
RE:RE:RE:RE:Shares outstandingI look at the facts. Yes I have been negative on Arsenal for a long time, and I have been correct about it. The going concern statement is / was NOT BEFORE the asset sale. It is in their current financial statements, page 5 and 6 if you care to look. Even AFTER their asset sales, they have a working capital deficiency, $5.4 million in tax liabilities from the US asset sales, and $2 million in capex spending before the end of 2016 from their flow through share issue. All of this is cash they do not have, and appear to have difficulty obtaining any bank loans, thus the merger to avoid bankruptcy. And oh yes, just for the record, if the deal does not go through, they are on the hook for an additional $1.5 to $2.25 million in breakup fees. The deal will go through, because if it doesn't they will be bankrupt. Mitchell won't let that happen, he wants to salvage whateve he can. I'll wait until AFTER the merger is complete to decide if I want in or not. At that time the picture will be clearer. At this time, you are gambling like you were at the c.r.a.p table.