Reviving the Dead Mountain....
All the doctors in the world cant revive this one.
Borrowing more and more, still violating 4 loan covenants.
As of May 31, 2013, the Company had $19.8 million outstanding under the Credit Facility and had availability of $0.2 million. The Company was not in compliance with all of the financial covenants under the Credit Facility described above at May 31, 2013."The Company incurred a net loss attributable to Red Mountain Resources, Inc. of $12.2 million during the fiscal year ended May 31, 2013. At May 31, 2013, the outstanding principal amount of the Company’s debt was $23.6 million, and the Company had a working capital deficit of $8.4 million. As of May 31, 2013, the Company had $3.8 million of debt due within the next twelve months."
