RE:RE:RE:RE:Q2 FSB: We borrow from Thomvest in 10 million US tranches so
our cash in the bank is from the last tranche drawn. TD showed
the draw as of June 30. But it isn’t June is it. As a best guess burn
of $8 million CDN a month and only 4 days left in August I am
guessing we have requested another 10 million subsequent to
June 30. However, if we are spending more of the draw on 8.5%
interest less cash flows into our bank account and the next draw
will yield less cash as more will go to pay interest.
We are akin to the indebted individual using his credit card
to pay the bills. Today belongs to Trump and the Mexico deal
and tomorrow to bank earnings.