Answers to my questions.... courtesy of Ryan at Selectcore:
On 2012-09-19, at 10:13 AM, wrote:
Thank you for answering my questions regarding the financing, so I have a couple more questions to ask.
1) What will the proceeds from the PP be used for? I have lost significant money owning Selectcore shares and am concerned about the future liquidity of the company.
The use of proceeds is outlined in the prospectus. Primarily working and growth capital to support multiple programs in the pipeline.
2) With the implementation of the City of Toronto contract, when can shareholders expect to see the benefits show up in the companies financial statements?
Q3 - Q4 this year
3) How long does Selectcores cash balances allow for the company to maintain operations?
Perpetually
4) How soon can we as shareholders expect news of new contracts with high margins that will improve the balance sheet?
Near term. Unfortunately cannot disclose particulars.
5) When does Selectcore estimate it will have a positive cash flow and turn a profit?
We unfortunately cannot provide revenue / financial guidance unless it is disclosed publicly.