RE: FinancialsJust been reading them Jet,
Very interesting.
Only Good news,
- income rising and up 200% on last year (qtr on qtr)
Bad news,
- it needed to rise 400% to breakeven, so looking good for sometime next year, maybe even end of this year as managemnt have predicted.
The shock, despite Franks claims there will be no further need for financing (Frank speak for PP in coming weeks), there is $0 in the bank already!
I can only assume they are selling LLX shares to keep the company liquid. (sensible rather than a PP at these prices).
One item I don't know how to read is the following;
Cash flows provided by (used in) financing activities:
Issuance of shares for cash $ 600,000 $ 125,560 $1,422,500 $ 768,750
Commitment to issue shares for cash (267,250) 300,000 (452,000) 0
Net cash provided by financing activities $ 332,750 $ 425,560 $ 970,500 $ 768,750
We had a PP of 4 million shares for 600K which I see clearly, but what is the item "Commitment to issue shares for cash (267,250)".
Will they make breakeven by year end, who knows, but there is finally clear evidence of rising income. Will there be a PP? Well even management will resist that one as long as they can. They do own a lot of shares and will suffer the associated dilution at these levels too.
Idle