RE:RE:At Least CreditorsLike Stan said, this will take some time. But as for making villains out of the new guys, come on...
They didn't make the mess we're in and the company is on life support. I can concede that the warrant deal this time is a little sweet, but we were a 3-4 cents company. No one will pony up $1.25 million for much more than 5 cents. These guys putting up cash are extending us a lifeline. The deal needed to be sweet if it were to be done.
You can argue that we should have a smaller raise at first, but the only thing that will forward this company is a drill program. We needed at least a million bucks. Also, by putting up that kind of money, they are gambling on a relatively small drill program paying off. If they miss, their money is gone. The potential reward has to be huge with a deal like this.
Bottom line is, they're putting up a pile of cash that they value as much as we value our own. If you think they are going to get filthy rich, why not back up the truck and buy a lot more for yourself? If you don't have money to buy more for yourself, then you can't save this company and you need these guys.
I understand the disgust in relation to how we got to this point, but I can't understand how we're sitting here with less than 100 million shares out, no debt and we're going to turn drills in a property that many people love, and no one is smiling.
We could be dead, but we're not...