GREY:NEVDQ - Post by User
Comment by
cnynmanon Aug 09, 2024 7:08pm
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Post# 36172313
RE:RE:RE:RE:Shareholders
RE:RE:RE:RE:Shareholders Yes, they were working on attracting more funding, as they have done repeatedly for the past several years. They got huge sums from Pala, and others, and kept going back for more. Eventually PALA and everyone else had a hard look and realized that there was no end to the 'money sink'. So no further 'transaction' was available to NC.
The question which should be asked is 'why could they never operate at a profit, with reliable production?' even after all those investments were made? Certainly, we got a litany of excuses in the form or press releases for all the shortcomings over the years. Then there would come another influx of funding and stock dilution. But the bottom line was always red, until there was no more money to bail them out.
Potential bidders in the CHP 11 sale will have a critical look at the data room and finances, and bid accordingly.