Gensource Potash Corp V.GSP

New Press Release - Gensource Potash Announces Extension to the Maturity Date of Convertible Debentures

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Gensource Potash Corporation (“Gensource” or the “Company”) (AIM/TSXV: GSP), a fertilizer development company focused on sustainable potash production, announces an extension to the maturity date of each of...read article.

[stockwatcher248]

That's no surprise MJB....the 2 million Debs are just part of the almost 11 miilion in Current Liabilties with just the 730k in cash as last reported in Dec financials.......had no choice to extend, no cash to pay them off....the only 2 options I see are a monster financing at a 10c share price which would decimate existing shareholders or a joint venture agreement which would sell the farm

[mdjbrown]

sw248,  Q1 Fins were released a couple weeks ago, and it was reported as at March 31, 2024 they had $91K cash in the treasury. That was 3 months ago. Since that Q1 disclosure was released another $150K was loaned to the corporation by an insider on May 9. It is clear generous insiders are trying their very best to keep on top of things with promissory notes until a deep pocket investor