Post by
Lonegaurdian19 on Dec 04, 2024 11:18am
Use of cash
Bear with me here:
We have $6 million in cash with another $11 on the way
Current SP $.12 USD
0 costs aside from overhead (full carry for SA well)
Only positive catalysts ahead of us (drilling or farm down)
Future SP with drilling occurring or a farm down (best guess $.20 - $.30)
Short term plan
Buy back 10,000,000 shares now for $1,200,000
Reissue 7,000,000 shares (@$.20 = $1.4 mil, @$.30 = $2.1 mil)
Result: reduction of net share count of 3,000,000 shares + (after fees of -$100,000) $100,000 - $800,000 more cash on the balance sheet
Comment by
GripnRip on Dec 05, 2024 1:19pm
Gil - call this poster...apparently he wants to sell you EOG shares cheap and buy them back higher...or some harebrained scheme like that