Providence Gold Mines Inc V.PHD

Everytime fake news comes out stock no response

[Darkangel]

All the talk on who's talking to who. No news , no money , just free rollerskating lessons.Wheres Bigben 30 cents , a year ago not here yet. Rumour Ron's making a Christmas video ! All I want for Christmas is for PHD to be DeLISTed.

[givemeabreak1]

DELISTING not in the cards as they really do not have many shares out and their cash burn is very low as they are not drilling and have not for how long now?

[KozmoT]

But if they go bankrupt they get delisted, do they not?  Their cash burn is low buts its not nil - they suck investor money out in Management fees and "consulting fees" They even pay themselves the Accounting fees and "Corporate services fees"  As of June 30 they were down to $289 in cash w $50K in accounts payable.  They gotta be down to their last $100K by now

[KozmoT]

Please note they paid themselves $48,000 in geological costs ... now go to the website and see how many of the "directors and officers" are actually geologists. I'm betting you already know the answer...

[KozmoT]

* correction I wrote down to $289 in cash but shoulda been $289K

[givemeabreak1]

You forgot to add in the 270k financing

[KozmoT]

Good and valid point, mind you $127,010 of that was received (and accounted for) in the financial stmt figure of Cash as of June 30th. That leaves em with $430Kish as of 4 months ago - I'm guessing even that is mostly gone by now.  Why else do you think this crew has been avoiding any real exploration or waste pile processing? (not that there was sufficient to process in the first place)

[KozmoD]

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[givemeabreak1]

Baby Koz son of Ctoi.

[KozmoT]

??? Baby Koz ?? 

[KozmoD]

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[KozmoD]

This post has been removed in accordance with Community Policy