Regenx Tech Corp. C.RGX

Davis Recycling

[lscfa]

I assume Davis is profitable and probably has access to bank financing. So why the hell can't it loan RGX funds to buy feedstock? Some partner when it won't help out a financially stressed partner.

[BurconNutriFan]

Davis and rgx are partners only because each needs something from the other. You are as naive as rancher about business matters.  In the oil business everyone ends up with unwanted partners because the play extends over different owner's lands.  If your partner runs out of funds or gets scared of the initial looks of the reservoir while an exploratory well is being drilled,  but

[AlfTanner]

Regenx management told investors that getting catalytic converters would be no problem because there were mountains of them out there that no one wanted, and Davis Recycling could get all they needed.  Now management tells us that the process is working but they just do not have enough "feed stock" to run at full production.   I call BS.   We know for a fact that

[Atechnician]

Forget about buying feedstock. Most of the RO money has, probably, already been spent before the offer is closed. Working capital as at February 29, 2024 is $252,777, that is right after the 1.7M debenture closed on January 30, 2024. The co. simply can not afford to run the plant if it has to pay upfront for the feedstock and has to wait  90 to 120 days to get paid. The co. will need to do

[AlfTanner]

Atechnician, last time I checked, this company was burning through about $2M per quarter.  How much do they plan to raise during the rights offering?  I agree that the money is probably already gone.  I do not even understand how they are making payroll right now.  They have to be on the edge of bankruptcy right now.   I really do not understand why the company needed

[lscfa]

Q2 23 cash burn was $1M,  Q3 23 cash burn was $1.2M

[AlfTanner]

I should have said the losses are running around $2M per quarter.  Not all the losses are cash.  For example, $400k in Q3 was "Share-based payments".