RE:RE:Whoever was looking to divest a million + shares over the Not as optimistic as curious sw248. I will be watching for a director resignation announcement or insider trade update.
This is a really tight spot to be in at the moment as Gsp disclosed they had less that $66,000 as at June 30th, and I have not seen anything reported regarding capital injection, since the prommisory loans made by insiders months ago. Their avg monthly cash burn has been much higher than current cash on hand, so how are the lights not flickering?
Lets face it, trying to consolidate shares with little to no major news in the pipeline could be extremely detrimental, as shorts will be all over Gsp if shares open trading at $2.50 / share.
It would be a positive if Gsp only had 25 million shares outstanding, but the problem is raising capital with a half billion shares outstanding and very little in the way of progress the past decade to show for that dilution, will be just as tough.
I feel for the exec as this is not an envious spot to be in with several other companies in the exact same novel tech, and they are not bogged down with almost as many shares as potash giant Nutriens 494,646,000 shares.
Really puts things in perspective when comparing one of the worlds largest producers of potash to a company with very few tangible potash assets, yet the outstanding shares are very similiar.
As stated before, tough to negotiate when your the nail, not the hammer!