RE:Answers To Shiftone Regarding Credit FacilityThis is becoming rather tiresome.
I did not ever say they gave them the entire company. Don't be twisting what I said. I said they signed the whole company over as collateral.
If you have a mortgage and the bank holds your house as collateral. Then you sell your house. Can you just keep all the proceeds after selling the collateral. And tell the bank, hey..i sold the house, but i'm going to spend the money. I still owe you the money mr. banker, but i don't really want to pay it to you right now. So I still owe you the mortgage money. But your collateral is gone. I don't think it works that way.
Since we had to pay a high interest rate and Nebari had no risk, considering they have the whole company as collateral, why did we need to give them all the warrants as well?
You had mentioned in the past, when I asked about the moneys owed to Auramet that it could be renegotiated. Well, that didn't happen and would have been better for the company.
Hopefully the next drill results will add some pop to the price.
We should not be trading at this price even if we had never did the latest drilling. If the price was higher, we could have had much better terms.
I admit it is not solely on the CEO to manage the shareprice.
But the market is speaking right now.
It's not just me and my few shares. The market is silent, but telling us that the market thinks the company is worth 0.30.
I have some blue chip companies. I was getting bored sitting at home and used to enjoy penny stocks. When I did, I did very well in terms of rates of return. Even after losing most of what was left in 2008. I did get myself in some trouble with the CRA, and they came after me with a huge tax bill for moneys I withdrew from that small initial investment of $10 000 in my rrsp in the 8 years prior. Because I took a lot out of my rrsp and didn't pay the taxes. The tax bill was so high that I had to sell my house to pay them.
I consider companies like this more play than long term investing. There are some that I held for as long as 8 years. And I do look at the negatives. Remember, that for every 100 penny stocks like this that all have similar stories, only about 1 ever becomes a real company.