SQI - July 30 Interim Financial StatementsFrom the July 30 interim financial statements (MD&A):
Cash and Financial Condition
The Company's working capital was $146,128 at May 31, 2009 ($214,431 at February 28, 2009). The Company’s treasury is expected to be adequate to fund its corporate overhead during the first half of fiscal 2010, but will be inadequate to fund meaningful exploration programs on any of its mineral properties.
Silver Quest has no debt, does not have any unused lines of credit or other arrangements in place to borrow funds, and has no off-balance sheet arrangements. The Company has no current plans to use debt financing and does not use hedges or other financial derivatives.
Outstanding Securities Data
On the Report Date, the Company had 33,685,270 common shares issued and outstanding, or 42,675,270 common shares on a fully diluted basis. On that date, there were 2,725,000 stock options outstanding, exercisable at an average price of $0.38 per share, with expiry dates to April 24, 2013, and 6,265,600 warrants outstanding, with a conversion price of $0.30, expiring October 6, 2009. If all stock options and warrants outstanding were to be exercised, the Company would realize cash proceeds of approximately $2,905,000.
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