Now that the spinout of STNG is complete the balance sheet should be easier to understand.
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3 Months
2020 is $100K and 2021 is 109K.
Again, last year they had STNG to deal with. Now that they have freed themselves from this additional work the cost of doing less is 10% more in management expenses to AMK.
Another year will help to see how AMK is trending. Is it cutting costs or increasing costs and what do we get?
Stock-based Compensation stood at $2M in 2020 71K
beginning to end cash $-2,7M if that stays the same X 4Q you get $11M
and if stock-based compensation was to continue at $2M per Q then add 8M
Thank god we were not drilling.
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Just to be clear, drop the price of the option by 50% and the expiry date is 2031? WTF, come on! I will be the first to pat you on the back but this isn't acceptable, how about we self it for 2030 AGM? This looks like there's more to gain with a lower price doesn't it?
13 Related party transactions
a) Incurred management fees in the amount of $287,500 (2020– $230,000) to a company controlled by the Company’s Chief Executive Officer
b) Incurred management fees in the amount of $201,000 (2020– $171,500) to a company controlled by the Company’s Chief Financial Officer
For the period ended September 30, 2021, the total remuneration of key management personnel was $488,500 (2020 - $401,500) of management fees and $1,371,207 (2020 - $479,568) of stock-based compensation
AMK also has about 1.4M TUD so at $2 that is about enough for 1 quarter at 2.8M cash burn
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If AMK dilutes at 10% and management fees keep going up we have a problem. A big problem for AMK shareholders is we don't have to drill, yet get fully diluted for what? To fund management's work on Stinger? or work on Affinity? How can it be this expensive when all you have to do is wait? This isn't acceptable.
This isn't really a big deal but AMK website once updated Financials. I would Expect for 10% more in Management fees, perhaps something as important as quarterlies could be updated regularly? Come on, I'm trying here but AMK shareholders deserve much more than what was delivered this past year and it #$%$^'en kills me to say it.
What I would like to point out to management is that retail is MUCH BIGGER than Management and our vote will change things so that Management and Shareholders interest are better aligned. A little can go a long way here, maybe join the club and start BUYING! we ALL are!