RE:So will it be a loan or more dilution of shares to cover ramI would say neither. They raised $5M in December, loan payment was about $2.5M, they will have some overhead until next loan payment in May, but they have been cutting lots of expenses, I would say $1 to $2M. So, maybe they have a $1M left come May, but have potential revenue of 1. sale of geysers, pretty easy $6M, 2. sale of other properties another $6M, 3. SJ gets fully going at 6X MW and then possible $ out of it or re-negotiated maintanance fund or ?. I give it 50/50 that they get some cash out of SJE this year. 4. Perhaps they sell the whole deal and we are out at .10 to .50.
I don't think anyone will lend them $ and another share dilution would be rough. My guess is a sale of Geysers to US Geothermal for $5M and/or SJE is able to provide some cash this year to cover overhead. 65MW maybe, but re-negotiated terms are possible, especially once well 9-3 is up and testing is done. If they sell Geysers.. that gives Ram another year to get SJE running and paying something. < br/=""> Financials.. Think they are just waiting for 9-3 to be online.. sure they don't want to do a CC and not have 9-3 online.. so they are pushing it back. Come on 9-3.. heat up.. and let us know our future.