Freestone Resources Inc. (fka FSNR)

[ponzi_implosion]

My math says that the company is about out of cash again. Per the last filing they had about $160k in cash as of 12/31/14. The general A&O costs and lease operating costs for the prior quarter were about $70k (or just under $24k per month) , plus they had about $11k in accounts payable. Throw in the cost of the 10q filing and I"d be surprised if the company has more than $75k in cash, unless they sold another traunch of shares.


Tell me again about the new super duper machines and where the cash to mkes them comes from?

Speaking of share sales it appears that the last batch was sold at less than a dime each when the retail price was around $0.20 or a 50% discount to market. To raise the same amount of cash today it looks like the company would have to double the number of shares sold. No worries though, its just paper. So what if it dilutes the bejeezus out the existing shareholders.