Post by
chrisaccord on Dec 20, 2010 12:34pm
OMT recently raised funds at 10 cents
From last (Nov. 29, 2010) SEDAR MD & A:
LIQUIDITY AND CAPITAL RESOURCES
Working capital
As at September 30, 2010, the Company had cash of $396,000 and working capital surplus of $54,000 compared to cash of $148,000 and working capital deficiency of $(237,000) as at June 30, 2010. Subsequent to year end the Company completed a non-brokered private placement where the Company issued 3,100,000 units at a price of
.10 per unit, for total proceeds of $310,000 as well as proceeds of $261,000 from the exercise of warrants previously issued.