Finances? The Well is Dry?As of June 30, 2022 (Financial Statements)
Cash & Cash Equivalents: 721,580
Accounts Receivables: 74,248
Accounts Payable (Q2): 190,677
G&A (Q2): 190,725
Interest (Q2): 478,435
Corporate Development (Q2): 96,674
If Q3 expenses are comparable to Q2 expenses (G&A, Interest & Corporate Development), it can be estimated / inferred that they have a grand total of:
-$160,683
Does anyone know if they are paying interest currently or is it being deferred to the end of November? It seems that they are functionally close to bankruptcy. Why is there no news and what is the plan?
Why are they holding off on filing for bankruptcy protection?