RE:What was the point for Dart's private placementWhy did the company need $1.6 million? Probably to keep the doors open. They actually need a lot more cash. They have $50 million in liabilities and $17 million in cash.
From the annual finacial statements releases July 26, 2013:
"Resverlogix Corp. has insufficient cash to fund contractual commitments due in the next 12 months. This condition, along with the working capital deficiency of $4.2 million as at April 30, 2013, and other matters as set forth in Note 2 in the consolidated financial statements, indicates the existence of a material uncertainty that may cast significant doubt about Resverlogix Corp.’s ability to continue as a going concern.
Where is the silver lining in these FACTS?????