Todd's Warning The Vision
"Armistice believes that it can improve the efficiency of the ore processing from those incurred in calendar 2012. The Company therefore has determined that it needs to put in place processing capabilities over which it will have more control that promise over the longer term to be more cost effective. As a result, the Company is in advanced discussions for additional milling options. Armistice also has identified financing that will fund these initiatives.
As the result of this decision, Armistice does not anticipate proceeding with further milling and selling of gold until at least the 2013 fiscal fourth quarter."
The Warning
"Liquidity: At December 31, 2012, the Corporation had working capital deficiency in the amount of $4,308,142 and cash and short-term investments amounting to $106,513. The Company’s working capital is insufficient to meet its 2013 obligations as outlined in Notes 14 and 16 to the financial statements and this raises significant doubt about the Company's ability to continue as a going concern."
Cheers, Mark