QUestion for the (bull)BoardWas reading the MA for the company ending July 312009, and this statement puzzled me.
At May 31, 2009, a company with directors in common with the Company had advanced $300,000 to the Company for drilling services to be performed by the Company on the Red Cliff property in the summer of 2009. The Company has begun the drilling program and will record the revenue on completion of the project.
So did we get the money from Decade for the drilling and then give up the 40%. Doesn't make sense to me. I don't believe any drilling was done before this summer program by Decade, why would we option it off before seeing the results?
Hopefully I am misunderstanding this statement.(LOL)
Have done alot of DD on this company. Don't understand the logic of amassing great properties and then optioning them away for nothing to even smaller companies.