Does Anyone Remember How Deon misled investors? They said they would be cash flow positive on March 30 when in fact they knew at that time (in November or before) they were selling assets at a huge discount???
Cash on hand projections for March 30 2012 published in the MD&A on Sept 30/11 = $37.3 million. (pg 18)....Released Nov. 14/11
https://www.firsturanium.com/sjfu/action/media/downloadFile?media_fileid=1787
Cash on hand projections for March 30 2012 published in the MD&A on Dec 31/11 =
.14 million. (pg 17).....Released Feb. 14/12
https://www.firsturanium.com/sjfu/action/media/downloadFile?media_fileid=1841
Shareholders reading the Sept MD&A in November would have thought the tide had turned.
Then 6 weeks later they publish a $37-million loss from projections but don't distribute the info. until Feb.
During all this time negotiations were in play to sell out at discount prices. The offer was made public Mar. 2