GOLDEN PHOENIX MINERALS (GPXM)

[Belgie24]

Not one comment on that great annual report that was filed today?

In short they have blown most of the 2.6 million, $600,000 left (but that was 3 months ago).

Current liabilities far exceed current assets (from page 5):

We Have Limited Cash and Current Liabilities That Significantly Exceed Our Current Assets.
At December 31, 2014, we had current assets of $911,980 and current liabilities of $2,291,493, resulting in a working capital deficit of $1,379,513. Included in current assets at December 31, 2014 was cash of $642,990.

They made a big deal out of extinguishing debt earlier, now we learn they issued 50,000,000 shares in 2014, raising the outstanding to 456,000,000. Great way to extinguish, eh?

They say they reduced ops and expenses, but looking under the hood shows that general and admin expenses actually went up year on year, (585,000 2014, 503,000 2013)partially by increasing executive's monthly compensation. Guess that is because they deserved a raise for raising the stock price so much. LOL

Just put them out of their misery. But wait, there are still 344,000,000 more shares authorized to dilute with.

Carry on.