RE:No PP before Spring 2018....If only that were true. Unfortunately, the MDA has an error in working capital where total assets were used instead of current assets. So you can deduct $753,766 representing Property and Equipment which is not part of working capital. . Inventories and Prepaid Expenses are part of working capital but those amounts are not available to spend. So you can also deduct them from your computation below (approx. $1,351,729). And let's deduct another $1 million for July and Aug Opex and Capex (est) brings us to a approx. $1.5 million here at the end of August. (I know a good CPA who would work for options only, and a place to live since Toronto isn't cheap. :)
wildbird1 wrote:
All the numbers below came from....
1) The condensed Interim Consolidated Financial Statements, dated June 30,2017.
2) MD&A (Management Discussion and Analysis) dated August 29,2017.
First what is Working Capital???...
Working Capital is a mesure of cash and liquid assets to fund a Company day-to-day operations.
As of June 30,2017 TLT has a Working Capital of $3,789,581.
To this amount you have to add the money that came in after June 30,2017.
1) on July 30,2017.......$9,375........from....... 25,000 Warrants.
2) on August 4,2017....$375,000....from...1,000,000 Warrants.
3) on August 24,2017..$468,750....from... 1,250,000 Warrants
Total Working Capital = $3,789,581 + $853,125 (Warrants) = $4,642,706.
More than enough money to carry TLT into the Spring of 2018.
More money could come in from future Warrants being exercised (very big possibility).
In the MD$A (dated August 29,2017) TLT said (Quote) ''Management believe that the Company has sufficient cash on hand to meet its operating and Working capital''(End of Quote).
See you in 2018... For more Money.