VMS VENTURES INC. VMSTF

Roozendaal does not appear to speak English

[yoda2]

Quote from news release:

VMS Ventures Interim CEO and President, John Roozendaal states: "The continuity schedule above indicates the current quarterly drawdowns since the start of production at the Reed mine. For the period April 2014 to March 2015 the Company has reported $19,197,271.13 in gross profits less production costs for the period July 2014 to June 2015 $13,991,585.72, which includes $334,629.79 of accrued interest on the bridge loan for net drawdowns on the contribution loan of $4,870,995.78. At June 30, 2015 the balance of the contribution loan is $18,870,567.52."

Read more at https://www.stockhouse.com/companies/bullboard/v.vms/vms-ventures-inc#iAz56mj5wvaqIjH6.99

[tenacious1]

What's the problem? This doesn't include G&A etc.

[wintersun10]

yes, does not make any sense to me. but, they have 18 mln left on the original loan. they made 1.5 mln in gross profits to reduce the loan. so, thake 18 mln divide by 1.5 = 12. Twelve quarters left on the initial loan at this pace, so that is 12/4= 3 years to go to payback the initial loan. the surprise must be the 3.3 mln bridge loan they racked up in the first half of 2014. i guess they could

[tannin]

Rooz is a twit....the figure he quotes as 'gross profits' most people would consider 'sales'........what sort of profit figure is it when he then has to deduct production costs...absolutely nuts...

[freeedom45]

Haha somebody else noticed that too. Was biting my tongue on that one. The figure is "sales of ore concentrate", not "gross profits". I wish it were the gross sales, we'd damn near have the contribution loan paid off.

[freeedom45]

I wish it were the "gross profits"* oh oh it's rubbing off lol