I just talked to Larry.
The loss that is showing is Non-Cash flow loss meaning it does not need to be paid back according to him, is not a real loss money wise, and is for write-off purposes. Many term this as goodwill type of losses and that is the word he also used for it. He said they have full intentions of turning profits in this fiscal calendar and these losses will be used as write-offs against those future expected profits. He said it was write-offs on older assets, and they lumped it all into one category? For whatever the reasons he really wanted to get this Financial Report out as he sees it as good. I don't think pinkie CEO's have to put out Financial Reports on any kind of timelissness so I guess that needs to be factored in regarding his wanting to publish this so intently.
He said the share structure is still the same as shown.
As far as the Red Lake mention, he said the monies owed has already been taken care of by a JV. They are waiting for the JV to go public with this info and announcement. Thus, there is no longer any condition on the $.17 and 6 million shares owed at that price.
He is hot and heavy with some various deals that sound like they will be announced in the next two weeks. He might be going to NY in the next week sometime for one, and said he is headed over to Frankfurt a week from Sunday to start the PR machine over there. He was explaining to me how all of the volume happens on the Frankfurt market and why we have seen nothing to date. It kind of made sense buy went over my head enough that I don't think I could repeat effectively what he told me. It did make sense is all I can say, and it also makes sense that if he does what he is talking about at a higher level that we could be smoking in a few weeks time. He is definitely talking at least one Dividend if not more than one. They are looking at the best way to hook up the Dividends to get maximum effect. HE also acknowledges for purposes of financing even larger deals that the higher the market cap and stock price the less dilution a company needs to do. They are working and greasing the wheels already with the DeBeira promotion machine.
I asked him with all of thse good things apparently ready to get rolling why are we not seeing lots of European buying right now over here. He said we are. He said they are starting to come on stronger and stronger with the buying and said several of the larger blocks in the last few days are people that are working with the teams over there. He expected the volume to continue to pick up in the coming two weeks.
We will see if he can pull it all off. The higher the stock price then obviously that is good for the company, for Larry, and surely for us.
My opinions and take on things. BTW, he did ask me to relay some of this info so as to keep everyone else up on the happenings.
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