RE:financing required by mid-year 2014
You are right Gill, cash is well below a million as we speak, execs salaries will be on the line by the second Q of 2014...so they will have to do something by then.
Bank has cut the level of their LoC, but it will still leave some wiggle room to draw on.
Al states in the release that there have been a number of asset sales in the area.
I guess no one has made the call to him, maybe he should make the call to them.
If the company is not sold quickly then huge share dilution to fund the ex program and overhead will lower the profit for current shareholders even if he gets 3 million Plus per section.
Time for the BoD to step up.
JMHO