GREY:PLUUF - Post by User
Post by
rockmoneyon Aug 02, 2019 10:56am
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Post# 29988308
Financial Statements
Financial StatementsWith this legal mess wiping out so much shareholder value in a matter of days, I always like to review thal latest financial statements to get a snapshot of a junior's balance sheet health.
Sadly, PLU is not in good shape at all and will have to plan a very dilutive financing now. Likely in September. This comes at the very worst time with the crash in the share price.
March 31 2019 FS
Cash: $1,989,413
Current Liabilities: $763,223
G&A Burn:$216,000/month and this excludes any field programs in Peru.
Adding four months of G&A burn to the current liabilities totals $1,627,223 and remaining cash is: $362,000 as at August 1.
There has been expendituress in the field for sure in the past four months so the company today is effectively broke and running on fumes.
A financing will have to be arranged and it will be at a discount to the current price.