Smartinvest & Losecash
As at March 31, 2012, the Company had cash and cash equivalents of $8,074,326
As at June 30, 2012, the Company had cash and cash equivalents of $1,565,628
In October 2012 the company raised $9.6 million in a private placement......
As at December 31, 2012, the Company had cash and cash equivalents of $4,846,429
As at March 31, 2013, the Company had cash and cash equivalents of $...................?
As at June 30, 2013, the Company had cash and cash equivalents of $...........?
As of right now this second, what has Discovery Harbour done with the $4.45 million of YOUR MONEY, that YOU didn't agree to lend them?
Or did you agree? Maybe you think it's a great use of the companies funds.
If I owned WPX I would be delighted to have this info presented to me, because at least I would have the opportunity to make an informed decision about staying in or taking my losses, licking my wounds and moving on and finding a potash company where management has amassed $70 million instead of giving shareholders money away to diamond/copper exploration companies.
Smartinvest & losecash- both of you think about this logically please.
Don't you think that any "potential" international partner would hire specialist accountants to look carefully at how management has spent the companies money over the last couple of years?
Dont you think they would like to know this before trusting them with debt or an investment of Billions of dollars?
Would you not think they would say to themselves, "Well, if they were frugal and careful with millions of dollars they will be equally careful with Billions of our dollars".
Or will the more likely say "if they gave Millions of dollars away, what will they do with the Billions of dollars we would need to trust them with to build this $3.3 Billion mine. How much will they "LEND" to related companies?"