GREY:AUAYF - Post by User
Post by
xdmmdx3on Oct 10, 2008 1:20am
613 Views
Post# 15518487
Old Management
Old Management"Our management is so brilliant that they went out and got such an onersous loan which had the potential for us to loose the company. Credits markets were already pretty tight when we got the bridge loan. There was a real possibility that things wont turn around by Jan 31, 2009."
The people running the show now had nothing to do with that bridge loan financing. However the company and old management at the time were between a rock and a hard place. If they didn't take the bridge they'd become an explore co for roughly 5 more years. They would have lost their equipment, and essentially would have had to go to the end of the queue to wait for the same equipment to be made for them. That doesn't mention all money already paid would be non-refundable.
It amazes me sometimes how little so called shareholders know about the company they own shares in.
I agree with one thing however, we need more than luck, we need the miracle of the world markets turning around.
No stock anywhere is hiding from this mayhem. At least we have that in our favor. If the world unites I'm hoping we'll all get out of this hole intact.
Time to start praying for the leaders that make the big decisions.
This ain't over yet,
x