GREY:LXLLF - Post by User
Comment by
zen2twentyon Jul 22, 2019 7:04pm
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Post# 29948827
RE:RE:RE:72 million shares oustanding
RE:RE:RE:72 million shares oustanding bullmarkets wrote: thanks.. its garbage.. they burn 1 million a month and have a bunch of debt due. which means more dilution coming..
Management believes that the Issuer’s current assets of $36.9 million are sufficient to timely service the near-term debt obligations even if the holders of the secured convertible notes do not convert to equity.
The Issuer’s current monthly cash requirement to continue operations as presently conducted is approximately US$1.1 million. Based on recent production and sales activities, coupled with strong market demand for CBD isolates and oil, management believes the Issuer will generate sufficient future cash flows from operating activities to finance this monthly cash requirement to continue operations as presently conducted including servicing its debt and to fund the $400,000 in capital expenditures to achieve the business objectives noted in the first half of part (a) above.