GREY:ADEXF - Post by User
Comment by
hundredvanities1on Apr 30, 2012 10:55am
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Post# 19851664
RE: RE: Boxing Shadows
RE: RE: Boxing Shadows In 2007 and 2008, when AXI actually ran substantial exploration programs, costing $12.8 million and $18.9 million respectively, their office rent was only $118K.
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In 2012 AXI's cash position doesn't allow them to run a substantial field program, but their office rent has ballooned to $426K. That makes no sense.
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I estimate AXI's current working capital, including the debenture, to be around $2.5 million. If that's an accurate estimate then half of that working capital is committed to office rent and executive salaries for the upcoming year. That's ridiculous.