Some MD&A reality figures to mull overSeems unlikely from this March MD&A statement that much cash will be raised from warrants or options tho some of the recent warrants at $.13 are in the money if IMO only for a short period of time so probably some of those went.
Point is there are already 174 million shares out with another potential 99 million in warrants and another 8 million in options. A potential 281 million shares. Yikes.
Now to be fair most of the warrants are still not taken up but still one has to assume that there are at least 200 million shares out there vying for the 10 million dollars in assets that exist, and with no income, a dwindling 10 million at that.
And this closed at $.19 today.
That makes it overpriced by a factor of 4.
Here's the GPM March 2011 MD&A. I leave the analysis to your common sense.
"The Company has no operating revenues and therefore must utilize its current cash reserves, funds
obtained from the exercise of warrants and stock options and other financing transactions to maintain its
capacity to meet ongoing operating activities. As of December 31, 2010, the Company had 174,295,690
common shares issued and outstanding, 98,662,665 warrants outstanding that would raise $17,698,800
and 8,220,000 options outstanding that would raise $1,436,200 if exercised in full. This is not anticipated
in the immediate future."