Cardinal Resources Inc fka CDNL

[12yearplan]

Very speculative as we are missing information. Degree of Indebtedness?. And yes delinquent a fact. Sorry, I forget how KJ addressed it exactly, where, but I think it was recently – do you have the reference?.

“...discussion of the remaining filings must wait until they are issued.
What I can say is that while still facing challenges,
the Company has significantly reduced debts,”
http://c.eqcdn.com/cardinalres/files/docs/CDNL+Shareholder+Letter+020915.pdf

On May 5, 2016, the Company received $1,116,000, as part of its prospective financing of up to $7,500,000 under the Securities Purchase Agreement, but a fixed amount of such $1,116,000 has not yet been designated for share buyback under the Share Repurchase Program. There is no assurance that additional closings for financing under the Securities Purchase Agreement will occur.

The Company plans to report repurchases and of its shares of common stock under the Share Repurchase Program on a quarterly basis, in the Company's filings made with the SEC.

The Share Repurchase Program has an expiration date of December 31, 2016, and does not obligate the Company to purchase any shares. The authorization for the Share Repurchase Program may be terminated, increased or decreased by the Company's Board of Directors at any time.
http://ir.cardinalres.com/all-sec-filings/content/0001445866-16-002015/cardinal8k05052016.htm