RE: Come on guys Do you reallyHappymon: if nothing then I start to worry
Sept 30th is the date the company promised to complete the ACC deal. If the promises are so easily broken, then I would think there will be nothing in next few weeks.
Form un-audited management prepared Q2, NAG had 1.7million cash, Happymon said they have 2 million cash now, where is the extra money from even if they didn’t have one penny expense. Just remember the cash burning rate is very high for this company, how much they have spent after Q2 ( as of June 30th) statement.
NAG will need a lot of cash in the very near future. When the stock is traded at 0.14 with 100 million outstanding shares, it is very difficult to finance from the market through PP or selling option shares In my opinion, in order to get 3 million cash from the market, NAG would have to do a reverse split, for example, 3:1 reverse, then the total outstanding shares will be 330 million, at that time, the company will issue 100 million shares PP at price 0.25 for 2.5 million cash. After the PP is done, the “new” NAG will have 43 million shares, which is about the same outstanding shares as WGF
If you do a quick math, 3:1 reverse, 0.25 after the reverse, then the current price is about 8 cents.
This is why I posted we would see 8 cents in the very near future.