RE:Bankruptcy chances ?
Shutout2 wrote:
I'm a little worried about available cash and if the Company will just close it's doors. These guys have promised and failed in any objective they had. What's to say they are just going until the cheque's can't clear ?? What advantage do they have doing this vs. getting a payday out of all the stock they have themselves ? I guess impending offers would dictate the course that will happen ? NEED ADVISE from knowledgeable investors here....
Anything is possible.
But lenders don't give you $7 million dollars more so you can give yourself a paycheque.
This management team (including the former CEO) have failed miserably with many projections, promises, forecasts etc.
They did pour money in at the .70c financing and above. Pinto the CFO is in DEEP.
Everyone is better off with being bought out or secuing a JV or selling some assets - including management.