Financials are out (Working Capitial equals $7million) e. The Company has incurred a loss for the year ended December 31, 2021 of $21,312,761 (notably a non-cash expense was recorded during the quarter in the amount of $14,801,500 for share based compensation) and has an accumulated deficit of $77,117,236. The Company is a junior mining company and is subject to risks and challenges similar to other companies in a comparable stage..
The 2021 results include share based compensation (a non-cash item) of $14,801,500 (2020 – 624,000), and higher operating costs reflecting the ramp-up of activities in Aukam and increased marketing and investor relations efforts.
Q4 2021 The 2021 Q4 loss of $2,583,573 (2020 - $1,302,498) includes significantly higher costs due to the ramp up of the Aukam facility, increased marketing, travel, project investigation expenses, and share-based compensation of $761,000 (2020 $Nil).
Presently the Company has a working capital of $1,552,138 and will need funding to meet its operating plans over the next 12 months.
Future exploration and development programs will depend on the Company’s ongoing ability to raise funds. Gratomic Inc. is an exploration stage company and continues to rely on equity offerings and other partnership arrangements to fund its activities. There can be no assurance that funds will be available.
(lets not forget)...............cue in recent funding.........
In all, the company said, it raised an aggregate of $5,532,157 through the placement of 3,951,541 WC Units under the offering. The company said it is not proceeding with the balance of the offering and has closed it.
my take
(so based on working capital of $1,552,138 after Q4 and recent PP of $5,532,157 we get roughly $7 million of working captial moving forward.....)
now lets assume Gratomic continues to spend between $1.5- $2.5 million per Quarter based on past Financial reports it would appear that Gratomic is well on its way to start production without raising additional funds......TBD?
I don't think anything nefarious is actually happening here, just a junior company going through the process, growing pains if you will.....cheers
should be some interesting times ahead......