RE:CashOnly current assets is the miracle money from Green Matter Technologies which GMT paid to them for "consulting fees".
$50,000 in the red (no big deal) but total liabilities have almost doubled from $5.6M to $10.8M. Know I understand the letters being sent to the PREB over the past month.
In the last quarter under "shareholder loans" there were the two loans from 2014 to the company from a shareholder which receives a 10% interest rate annually but is compounded monthly. That loan was originally for $131,170.
As of September 30th 2023 just the accured interest on that loan was $208,638.
Director loans have accrued interest of $506,908.
CEO and CEO's spouse loans have accured interest of $165,497.
Lots of companies do this but generally have it short term not for a decade.
Still 631,000 warrants (with an exercise price of a meagre 55c) remain unexercised. These warrants expire in April of next year. Somebody not willing to take the $357,500 committment yet even with the shareprice at double that value. Interesting.
$10.7M in payables and accured liabilities continues to grow.
"The Company has one reportable operating segment." Canada gone.
PBJL Energy share transfer has increased from $500,000 to $676,000 but has yet to be negotiated.