Post by
Bookworm28 on Oct 06, 2021 9:21am
Interesting Spec Play - How Much Cash in the Till?
This is an interesting spec play. Love the bounce from the lows. Does anyone know how much cash they have in the till? They're July 31 financials = 14mm cash - 11.3mm c/l = 2.7mm. Then they raised (net) 3.4mm in aug... so maybe 6.1mm, less a burn rate of 1mm a month for the last 2 months = $4mm? What y'all think?
Comment by
ShannonWM on Oct 06, 2021 9:37am
Sounds about right. Will be irrevelent soon once production is announced. Webcast said they were already running desulfurization (end product being diesel fuel) so can't imagine they can keep producing without running out of storage room, hence sell and revenue very soon. This is what I expect.