Cross Border Resources, Inc. (XBOR)

[diy_investor]

Red Mountain Resources, Inc. Announces Cancellation of Public Offering of Preferred Stock

DALLAS, TX, September 9, 2014 – Red Mountain Resources, Inc. (OTCQB : RDMP.QB) (the “Company”) announced today that it has cancelled its proposed underwritten public offering of shares of its 10.0% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”). The proposed offering was conditioned on listing of the shares of Series A Preferred Stock on the NASDAQ Capital Market, which has not yet been approved by NASDAQ. The Company expected to use the net proceeds from the proposed offering to fund a portion of its fiscal 2015 development program. The Company is evaluating other sources of capital to fund its fiscal 2015 development program.

http://www.sec.gov/Archives/edgar/data/1483496/000138713114003222/ex99-1.htm


I am wondering if a source of capital to fund its fiscal 2015 development program is a sale of its majority ownership in Cross Border Resources. If not sale of the entire ownership position, possibly the sale of the undeveloped acreage in New Mexico or sale of non-operated lease ownerships. Other thoughts from investors?