BigJake, everyone here is hoping for Gsp success but the point being many folks like sw248 who rely on corporate disclosure for guidance, the corporation has had a very consistent quarterly payroll of $237,000 for the 5 execs drawing salaries, and as at March 31, 2024 the reported cash on hand was $92,000, two promissory notes in the amount of $300K that matured June 25, 2024, ongoing monetary commitments with SMP200, increasing liabilities, and no revenue generation ability currently.
It was previously publicly reported that the corporation paid $103,305. for the most recent Block 59 (SMP200), so selling that asset to preserve capital would not even help the current situation.
https://www.businesswire.com/news/home/20211220005876/en/Gensource-Announces-Increase-in-Potash-Asset-Base Global factors outside the companies control with regards to the current potash environment are not helping, so you don’t need to be an accounting major to see that an equity financing in some form is required fairly quickly just to cover those operating costs, let alone move the needle on the Tugaske project.
This is not anyone taking cheap pot shots at Gensource, or any shareholders on this investment blog. It is a publicly disclosed reality reported by the corporation 4 months ago, and I assume why sw248 is concerned based on that March 31, 2024 disclosure.