bankruptcy incoming?according to the recent q1, 222 financial statement ( filed on sedar)
"As at March 31, 2022, the Company had a cash balance of $854,649 (December 31, 2021 – $579,508)
As at March 31, 2022 the Company had accounts payable and accrued liabilities of $3,079,311(December 31, 2021 - $2,502,139), which have contractual maturities of 90 days or less".
Therefore ELEF started selling of FLYN Reversed shares ( anticipated for ELEF warants and options holder)
"As at January 14, 2022, the Company had a total of 11,644,256 (Flying Nickel – 2,911,064, Nevada Vanadium – 2,911,064, and Battery Metals - 5,822,128) Reserved Shares were valued at $5,239,915. The Company entered into agreements with certain Holders pursuant to which the Company can sell some or all the Reserved Shares currently held by the Company on behalf of the Holders in order to obtain working capital. During the three months ended March 31, 2022, the Company sold 1,835,000 Flying Nickel Reserved Shares for a total proceeds of $1,254,743."
It's no wonder that FLYN got sucked in deep hole too.
Conclusion: ELEF- either bankruptcy or massive dilution
... P.S. but at the same time Lee has doubled his salary comparing with 2021
"Linx Partners Ltd. $202,523 ( q1, 22) vrs. 105,000 (q1, 21)"