RE: Lots of Questions but no answersThe main question that needs answering is where are they going to get the funds to continue as a going concern. Last year around this time insiders screwed existing shareholders by front running the PP. They capped all share price rallies so that they could raise the money needed to participate in a hugely dilutive PP done at 15 cents. With the share price stuck around 10 cents, I suspect another huge dilution is in the works, this time priced at maybe around 6-7 cents:
6 months ago RCT had only $2.8 million
cash left, so they must be out of money now. Last financing was at 15 cents, will the next one be at 10 cents ?
Financial Condition /
Capital Resources
As at May 31, 2010, the Company had working capital of $2,812,237. During fiscal 2010 the Company a completed
private placement for 82,859,960 units for gross proceeds of $12,428,994. The Company believes that it will
require additional financing to conduct anticipated exploration programs and meet anticipated corporate
administration costs for the upcoming twelve month period.
PS. The talk about being a cash flow positive producer imminently has been going on for years now and has turned out to be just hot air to lure in the sucker retail investors.