FinancingYou can't even trust Dev to tell you how much working capital they have.
Said recently in the comodity TV video they have $12M cash but contradicts the $7M they said they have. To say you have $12M in cash but to conveniently ignore your A/P is typical.
Financing is coming soon and from the video it sounds like JP Morgan. They don't want to go to new guys he says = JP Morgan et al going to get a real good deal for getting screwed on past financings.
Working capital didn't go from $11m to $7m. They told us the cash in the bank and conveniently forgot A/P in my opionion.
Posted this on October 20th...was pretty darn close if the working capital position is true.
RE:RE:RE:RE:Out of cash
Per the latest statement on Sedar as at June 30, 2015 FCU had roughly $25M in cash. With a burn rate of about $4M per month, plus $2M in A/P. That would put cash at approximately $7M at the end of October. Costs of merger are unknown but I am guessing $1M plus. Is FCU in a position to go into winter program with $5-$7M in cash? Dev coming back from China with some cash is absolutely crucial.
PamplonaTrader - (11/25/2015 8:20:38 AM)
RE:RE:cash situation and things to come giz62 wrote:I believe Dev's strategic plan and financing arrangement will not be well received by the average retail shareholder and as a result will not be released until after the AGM - when he and the rest of the BOD will be re-elected and free to pursue their personal agenda...JMO
Good point. If they have a flow through spending deficit, then it may negatively affect their ability to raise further funds from FTS. I am guessing a far more dilutive offering at a large discount (<$0.50?) and with 5 year warrants attached.
I also think its hiliarious that working capital went from $11mm to $7mm in just a couple weeks. Also how a fully funded 15,000m program goes to 11,000m in just a few days.
Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.fcu/fission-uranium-corp#2rWzJTF4gibZu53x.99