RE:RE:bad posters on ignoreThanks for ignoring my post questioning your antics, guess you can’t answer it. Seems to be the case with many of you that come to this board spewing stupidity. If you ACTUALLY read the fins, we had $8m+ cash left at the end of the quarter. Our cash position exceeds our quarterly burn rate, we’d have 2-3 quarters at most with just the cash on hand. However our revenues have been growing steadily, and they will continue to do so. Since Q3 we’ve started selling in Saskatchewan, Manitoba and Ontario. While they might not show any signifance in the upcoming fins, they’ll definitely show up for Q1.
As for your worries about the loan of $18m (which we only drew $16m out of);
On March 19, 2019, the Company announced that NMC had entered into an $18,700,000 credit facility with a Canadian Schedule 1 Bank (the “Lender”) to fund the completion of the 780,000 square foot expansion. Having completed the expansion, it is contemplated that the construction facility will be replaced or refinanced with a non-revolving term facility. Interest on the current facility will float at a rate of 1.00% per annum above the Lender’s prime lending rate, which is currently 3.95% per annum. The obligations under the facility are guaranteed by the Company and are primarily secured by a collateral mortgage on NMC’s property located in Strathroy.