GREY:LGLTF - Post by User
Post by
kim2015on Jun 11, 2015 7:50pm
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Post# 23822431
New Financing Coming
New Financing ComingI am not a pessimist but, if $50M of financing in 24 months did not work, why would a couple of million work now? I would also ask those optimist on this board, if you have $1M of hard earned cash saving in your hands now, would you invest into LOY yourself for some $0.07 "paper"? A few facts are certain without being pessimistic:
a) The burn rate is $2M per month according to Q1 report - Operating Loss (not depreciation) "cash"
b) Bank has called their loan and every dollar goes in the bank will take it to reduce their $12.9 million in breach of convenant. Bankers may not be smart but they are not stupid either.
c) Management needs to meet rent, payroll, teachers salary etc
d) Directors needs to pay legal fee to defend all the pending lawsuits
Any one interested to buy a few million dollars worth of stock at $0.07 so that the bank can get some, lawyers can get some, Executives can get some, then raise another round in 30 days?