RE: Bridge in dire financial straits - MD&AI felt this post was a bit misleading,
This MD&A was done quite a while back and as we know MD&As are essentially a review of last year (2010). The sell of Northern Sea to Penaco was part of its restructuring and fund accumulation which entitled Bridge to a further 8 Million dollars (plus 18% profit should Penaco goes into production).
I think the previous post of MD&A at this point of time is a bit out dated and may confuse some readers.
What is preplexing is, according to the report, the company has a little bit more than 600k in reserve fund? - what about the 8 million they got?
Also, I found CalifDreaming's profile and 11 people are ignoring him - which tells that he is one of the shorters. I tend not to give much imporance to the postings of shorters.
I think Bridge's biggest worry now is to get the Idaho production thing sorted out as well as work with Paramax so they can get the gas flowing by early 2012 (I think Q4 2011 is a bit too optimistic considering the delay happening in the Payette County)
Does anyone know by when exactly this fall the Debt Facilities are matured?