EOIM scammer LFD is in a negative working capital position, which puts them in a very tight spot... the reason that Genel has a great bargaining position. EOIM claimed that LFD was worth 29 cents since their assets were $80 million. Working capital is defined as current assets minum current liabilities. Below is their working capital position. If they don't have current assets, they don't have assets, period. All that was explained in their financial statement, missed by EOIM.
Working Capital
As at September 30, 2011, the Company had negative working capital of $26,460,079 compared to negative working capital of $24,766,928 at December 31, 2010. As a development stage exploration company, Longford will continue its efforts to seek appropriate financing initiatives to meet its obligations that benefit the Company and its shareholders. Among the alternatives, the Company will assess the relative cost/benefit of additional issuance of shares from treasury or farm-out opportunities.