Focus Graphite Inc V.FMS

RE:Some FMS facts

[graphite13]

This is also under the category of misinformation:

The only payables due are the A/P of 2.5M (the other amounts are gifts from Jeff to support something he knows will be a winner and provisions for flow through share (all these companies have this). This is offset by 3.3M in receivables.

The statement of cash flows is what you should be looking at (investing 102). 1.47M at the end of the period. Add to the this the issue of flow through shares (post Financial statement date) of .84M for total cash on hand of 2.3M.

This is more than enough to take us to financing. Why?

1. The drilling program is complete and the costs for the technical analysis is not material. In the last financials over 90% of expenses went to the drilling program.
2. Management is being compensated primarily with options. I would be doing the same as the payoff will be multiple times any salary they would get.
3. The ongoing costs of business is a small fraction of the cash on hand.

Nice try though!