GREY:IESCF - Post by User
Comment by
Stoogeon May 14, 2013 11:26am
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Post# 21389602
RE: RE: Newz release --
RE: RE: Newz release -- InvestorO wrote optimistically:
Very good news IMO. It appears that there's a real demand for GGX's heating units in the USA. I have heard that the oil & gas drilling activity has increased significantly in the US. It is obvious GGX will need more heating units for these new customers in the US. Good news !
There is demand and there is supply. There is already competition. To make a presence in the US we need to buy units and for that we need money.
With two failed attempts to raise those funds, it remains to be seen whether management is able to find investors. The problem is current management has a history of failed ventures which they eventually abandon and write off. Millions were written off last year according to the latest financial statements with the auditor issuing a warning about the survivability of GGX. This does not encourage investors.