More Monkey Business (as usual) Shares Outstanding: 173,312,483
Fully Diluted: 233,078,623
Proposed rollback: 7 to 1
Closing price: .01
Oh, it gets even better:
Mr. Michael Werner reports
BELL COPPER ANNOUNCES DEFAULTS UNDER SECURED TERM CREDIT FACILITY
"Events of default have occurred under the secured term credit facility provided to Rogue River Resources Corp., Bell Copper Corp.'s wholly owned subsidiary, by Macquarie Bank Ltd. and related agreements. The events of default include the incurrence of trade indebtedness in excess of the limit specified under the credit facility, failure to obtain the required permits relating to iron ore activities on the company's La Balsa project and failure to deliver a bankable feasibility study in respect of the La Balsa project within the time limits specified under the credit facility. The credit facility is secured by a charge over the company's La Balsa project.
As a result of the foregoing events of default, Macquarie may give notice to Rogue River declaring the amounts owing under the credit facility to be forthwith due and payable. The company has not received such notice as of the date of this news release.
The company intends to pursue good-faith efforts to negotiate with Macquarie a mutually satisfactory resolution with respect to the events of default. The company is also currently in discussions with a number of interested parties regarding potential strategic transactions with respect to the La Balsa property, and continues to evaluate strategic opportunities regarding the company's other assets."
Whadda a morally bankrupt crew I say, all of 'em starting with the not so nice Mr. P.