RE:RE:RE:Another $10 000 000 at $.25 with full warrant? No man, it is not Tom. These are just facts, none of the posts pertaining to a financing are bashing. The company themselves said they had $~8.8 in cash Dec 2021 and they are burning through 2.6 million a quarter. We are a month away from the second quarter. Which leaves the company with just under $4 million.
The difference this year from last is that it is very unlikely investors will exercise the 50 cent out of money warrants. So the financing should take place about the same time this year, June. Probably earlier because things are getting thick, summer will be even lower volumes and even more burnt investors if there is a crash. They're not the federal government they can't just print cash? Someone has to bring it in somehow?
The bashing comes in where these guys knowing they need money decides to stuff their faces with in-the-money options. Is the goal to bankrupt and sell the assets? I don't get it? It reads so bad that I've only ever seen a few very poorly run mining companies do it.
full disclosure: I'm long the stock. Shedding a losing position. Disgruntled with the way I've been treated as a shareholder.
For the quarter ended December 31, 2021, the Company reported operating costs of $3,069,000 compared to $2,682,000 for the corresponding period in 2020. Operating costs for the year ended December 31, 2021 amounted to $10,837,000
The Company concluded the 2021 year with cash of $8,890,000 compared to $5,807,000 cash on hand as of December 31, 2020.
JohnnyCashMoney wrote: I see the doctor wasn't able to fill your prescription. That's too bad. As you live in the states, could I get your uncle Elmers phone number and we'll get you on a 51/50 hold?