OTCPK:MAUXF - Post by User
Post by
mjh9413on Nov 13, 2015 9:41am
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Post# 24288521
UGLY!! IS RIGHT
UGLY!! IS RIGHTWhy are they in this state of short liquidity? They have a moratorium of the loan. Then they have a 10% in OML18 which has to be worth cash receivables about $4-5MM/qtr which is not reflected in any financials to date. They had poitive cash flow even with 50% capex recovery from UMU alone in latest qtr. The break fee is meant to be applied in some way to costs on an ongoing basis til used up but we see no real explanation of its accounting. All the Board does is trot out the same NR on results every qtr just changing the numbers in each paragraph but there is a distinct lack in transparency despite its length. REAL UGLY.