Post by
petersburggray on Sep 01, 2020 8:05pm
$50mm secondary on deck?
Over first 6 months of 2020 Titans financials continued to deteriorate...loss of $11.28mm for 1q2020 and 2q2020, total debt increased to $36.18mm with $33.85mm due in less than 1 year. Working capital deficit of $34 mm. Only $380k cash on hand...without PPP loan Titan would have already run out of cash. With only $380k cash clearly Titan need do do perhaps $50mm secondary stock offering so as to deal with debt maturities of less than one year as well as fund exploratory drilling required by deal on Mineral Ridge gold mine.
Comment by
tylerdurden007 on Sep 15, 2020 3:43pm
Given your previous posting history, i am quite suprised to see you so laser focused on the financial statements of an early stage natural resources play run by richard warke and the augustagroup. Out of curiosity, are you aware of this groups previous track record?