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I think the point your trying to make

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regshareholders   Saturday, 03/12/16 09:04:24 AM
Re: regshareholders post# 515
Post # of 545 
I think the point your trying to make is the amount money left over after paying the principal (loan) to the mortgage company. I'm not sure how much money will be left over to complete the engine. The killer for this company is the high indirect costs, one blah blah and no dedicated blah blah.

The $1.2M investment from the Chinese investor Shaojun lasted 1.5 years. It should be noted that 45% of the Chinese funding disappeared in the first 4 months - as per the June/14 interim financial filing. A large portion went to pay outstanding loans, IOUs. I suggest you look at the financial statements for 2014 and 2015.

During 2014, the indirect costs were low because the rent, utilities consulting and director fees were being charged against the Teryl treasury. "The most recent 2 year cash flow drain from Teryl Resources in the servicing of the dental “insurance” plan by SMR Investments and KLR Petroleum." I didn't know a dental insurance plan, managed by a carrier or insurance company, needed to be serviced on a quarterly basis by two firms. I suggest you look at the consulting fees and director fees in the Teryl financial statements on Sedar. I find it very repugnant.

Except for a one time royalty cheque, Teryl generates zero revenues to date. There is cease trade order on Teryl for failure to file financial statements. This makes 3 or 4 companies with cease trade orders - Teryl, Minewest and Linux Gold. IAS Energy is having SEC issues.


The carnage is piling up

Anyways, the Chinese money ran out around the end of August/15 - give or take a month. Between September and now, I suspect funding is coming from selling shares into the market and loaning the money back to the two engineering firms. But the well is drying up

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