RE:Omai buy out
Sadly, I have to agree. The company is effectively broke today and trading at record lows. March 31 FS show cash of $1.6 million but after current liablties and license fees payable and another three monthof G&A at $100,000 per month, they are on fumes. Zero cash. Likely negative cash today with camp and project costs.
They have to finance and it will be at $0.05. This company is a total disaster and needs stronger management and a team that can run this. Reunion would be good. I'll take a painful M&A deal rather than leave this lot of incompetents running the show and diluting us to zero.