RE:2021 Financials are released
strangely you always forget to mention the debts/loans. 'As at December 31, 2021, the Company owes $949,000 under the Pelicourt loan. Mikhail Afendikov, the Companys former CEO, was a principal of Pelicourt. The Company made principal repayments of $900,000 on the Pelicourt loan during 2021 as compared to a principal repayment of $200,000 during 2020. The Pelicourt loan bears interest at 10.8%. During the year ended December 31, 2021, the Company made loan repayments of $2,781,000 to KUB-Gas as compared to no such loan repayments in 2020. The balance owing to KUB-Gas at December 31, 2021 was $2,474,000. The KUB-Gas loans are due December 31, 2022 and are callable at any time. Subsequent to the year ended December 31, 2021, the balance of the loan to KUB-Gas was repaid in full. During the year ended December 31, 2021, the Company entered into a new secured bank loan with a Ukraine financial institution in the amount of 650,000 ($793,000) in conjunction with the new power business in western Ukraine and made principal repayments of $164,000 during 2021. The bank lean bears interest at 7.0%.' So, after the end of the year, they reimbursed the rest of the Kub Gas loan, which removed 2.5 million USD from their cash balance. Then, as of end of 2021, they still had two other loans:650,000 & USD$ 949,000. Not saying that it's catastrophic, but overall it's about 4.25 million USD less cash balance if they would have reimbursed all loans before year end. It's like your Russian propaganda - stop spreading bulls***. I prefer facts.