Q3 soonAs at Oct. 31, 2010 ( end of Q2 ), the company had cash, cash equivalents and short-term investments of $2.4-million, and a working capital surplus of $2.6-million.
Lignol was also eligible to recognize in the future up to a further $8.1-million in financing from various contracted government agency grants and corporate contributions.$2.45 million was recd since that date.
. The combination of available finances on hand at Oct. 31, 2010, and such additional government grants and corporate contributions brings the total of current and potential resources available to the company to up to $10.7-million.
As previously reported in Stockwatch Sept. 28, 2010, the company continues to believe that the combination of finances sources noted above should be sufficient to finance its baseline operations until August, 2011, using the definition of baseline operations as set out in the management's discussion and analysis of financial condition and results of operations for the three- and six-month period ended Oct. 31, 2010.
This amount excludes finances from any potential new government grants or contributions from any potential new corporate partnerships.
Lignol is exploring a number of financing options which include actively seeking additional non-dilutive financing from government grants and contributions from corporate partnerships, the scale of which will determine the size and timing of a possible sale of additional equity required by the company.
The company is executing very efficiently on its business model which is getting closer and closer to productive reality.
If they do, we have a super home run here........esp with oil and $105 and natty gas expected to double over the next year.