GREY:OLEPF - Post by User
Post by
frankmanon Feb 22, 2013 4:28am
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Post# 21027106
OLE living on credit. Spent $3.6 mil in 11 months
OLE living on credit. Spent $3.6 mil in 11 months Most of you know that OLE has dipped into their credit line (if not on SEDAR) to the tune of 1.8 million (of 5) at a a 12% interest compounded daily paid monthly (loan shark) rate. As time keeps dragging on (which it has) how long is the cash going to last? Their last interim report showed BEFORE the $1.8 mil credit loan the following cash position. Of course the last interim only takes us to November of 2012. That is quite the cash burn in 11 months. How long will the current loan last? From SEDAR.
November 30, 2012 $ 3,927,251
February 29, 2012 $341,693