RE:RE:RE:RE:RE:RE:Burn rateBuccaneer1s1and wrote:
Its not a random income statement number. It tells you roughly what the cash burn is and you asked Mega this.
With respect mega:
1) How do you know NFG's burn rate is $1M a week? Can you provide us with an online source from the company confirming this (recent NFG press release? other recent NFG company document?), are you claiming that you have access to insider information and financial data the rest of us don't, or did you "hear" it from an NFG employee while visiting the Queensway site, making it heresay and thus unreliable (I assume you didn't travel to NFG's headquarters in Vancouver to sniff out this info),
Do you have alzheimers also? Bucco
When trying to determine when the next equity raise might be, the more recent the weekly burn numbers, the better.
Mega stated "I know for a fact that NFG's burn rate is one million dollars a week", so he's referring to what the burn rate is presently, not what it was in January or February or March. It was $1.23M per week during that quarter as I calculated in a previous post today. Do you think the burn rate will be higher or lower when we get the financials for the quarters ended June 30 and September 30? I think you already said "higher" in a previous post. Even if they do come in at around $1M (which is unlikely in me view), mega at this point in time would still not know this as a fact simply by chatting with workers in the field. Not picking on mega, but you on the other hand just keep digging a deeper and deeper hole for yourself.
Further, to calculate the weekly cash burn, you use the balance sheet cash numbers as at December 31, 2021 and March 31, 2022, not figures from the income statement.
You sure you even passed an introductory accounting course, because this is first year stuff.
Fail. Again.