RE:How much cash does AZX have?Schmoby,
In the big scheme of the universe, AZX "war chest" is empty (compared to some $40M that PRB has).
Yes, you would need to keep the lights on, and lawyers are not cheap. That's why they just abandonned updating the website. But this is an oversight on their part. The website projects a good image for the company, hence some effort (minimal, and practically anyone can do it, they can even ask a volunteer to do it for free, one of us can put together a brand new May 2018 Corp Presentation for them...no charge whatsoever).
Back to the cash, they sold the NRS for some cash ($ 0.35M?) the other day. They could sell some more (similar) stuff to weigh down the "war chest"...a sale of their non-core properties in Manitoba would fetch plenty of cash, if they line up a buyer.
Perhaps, they are not in a dire straight situation, since big anchors like AEM and ES would not allow the AZX ship to sink. They can always advance some money (a small PP perhaps, or ES, just pony up some cash by exercising some of his 0.09 wts (if the sale price is way above that, or whatever the "arrangement" would give him some acceptable profit). Actually, there are wts that have a lower exercise price than 0.09, so they could perhaps talk to those holders to get some cash out of them.
We can all sleep well tonight. Do your own DD before going to sleep though, hoping that some NR will come out shortly on the RE and potential merger or whatever.
Note: EO has started calling people on the phone. I believe the "founder group" has obtained the shareholder list, and they would pick names that have, say ~1M shares or so.
Cheers,
GH
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Schmoby wrote: Does anyone know how much cash AZX has left to run day to day operations, admin and legal for the defense of EO's claim? Lawyers aren't cheap and it won't take long to run up a hefty bill. How much will the RE cost and has that been paid for or set aside for or is that why there is a delay because it hasn't been paid for...the longer the delay the more inclined I am to believe the latter.