Guyana Goldstrike Inc V.GYA

Share Consolidation

[shneps]

Interesting to see that management made the decision to roll back the shares and announce the PP was back on August 28th. This would seemingly mean that sometime before 08/28th they knew the MS funding was not coming and the consoildation/PP was the only way to go in order to keep their salaries in place.
Almost a month and neither Metalstream or Guyana Goldstrike has not made an announcement.

[metals2019]

How do they expect to get a PP away with the Metalstream fiasco hanging over their heads?

[u8fish]

PP just a stop gap measure until they can close MS deal. Seemed to be adamant MS deal was best. Weird stuff here

[Juniorobserver]

Well it isn't and they have been broke to long not to have serious issues internally with cash.    My guess a 2.0 CDN PP would be gone x double before the 1st day was out.  

[HST1966]

In April 2019 GYA announced closing a little over 1M in a PP.  In subsequent financials, unaudited, to July 31, 2019 (last issued by the company by the way), the cash on hand is listed, approx 4 months later, as $57,000.  what? Opertaing expenses for the three months are listed at $371,000 ($200k went to management fees, consulting and marketing).  So even with that, the

[Juniorobserver]

Pete was in debt over the amount of the PP and it appears most of the money went to promotion, meals and entertainment.......probably other nonsensical stuff as well 

[HST1966]

Stop gap measure?  They were "self funding".  I guess that well dried up to (hence the debenture re-working).  They can't close MS without Romanex settlement, which looks like a long shot and getting longer every day of silence.  Again, if Romanex felt MS was real, they wouldn't haver terminated the agreement with GYA like 2 weeks before the first payment was

[Juniorobserver]

I do not think that there is a hope in H to get a PP here.     To do a PP you need either existing shareholders or new ones.....that much is known.    Existing shareholders have declined participation since 2018 and new ones would do some due diligence.      The MS is not attractive to other shareholders at all.......