RE: I Spoke to Blake Stradeski"All of the PP's over the years have been to pay for salaries and travel and lawyers and filing costs and everything else that Erin has been doing."
It is not my intention to upset anyone here. It seems easy to do.
There have been around 24 PP's since 2000. Please add up how much money was taken in and let us know if that much had to be spent on salaries, lawyers, travel, etc. How much money is left in the treasury and what is the current burn rate? I would expect the money for Sasa will be returned, so we should be ok for now. Salaries seem high, according to the filings. Not much was done other then to wait. It might we wise to cut back expenses immediately. It would be a rational/responsible action to take now and send a positive message to the shareholders.
This situation appears to be very serious. A clarifying NR would help, stating that they do have a valid JV on the property. They also should let us know who that mysterious partner is. A phone chat just doesn't cut it at this point. Excuses, excuses. How many times has Tim been there? He should know where he stands, issue a strong statement and not let shareholders hold the bag waiting, while the SP tanks. The stock should not trade tomorrow.
Something just doesn't add up.
bl