Material Change NR From the material change the company filed yesterday...
On August 27, 2010, the Company issued the Notes totaling CAD$5,535,000 along with 6,509,160 common share purchase warrants (the "Warrants"). The Warrants expired on August 27, 2012.
So did the warrants expire or were they exercised? And if the warrants weren't exercised then where did the money to cover the notes come from?
The May, 2012 financial statement showed
Total current assets $5,426,705
and
Total current liabilities $11,016,760
Interesting accounting trick. I wonder what the BGM CFO can do with fish or water :)