Resverlogix Corp. (RVXCF)

[growacet]

Sooner than I was thinking....all good

Now we need some financing news, the Third Eye loan has a covenant requiring Resverlogix to have cash of a little over $5 million. According to the MD&A cash on hand was just a little over that number on Oct 31st, then a couple days later they did a raise of about a little more than $10 million USD, with half of that required to go towards paying back the loan.

So they should be getting darn close to that $5 million minimum once again. I'd like to see them raise enough to pay off the remainder of the loan. If it takes 10 million shares at about $2.25 USD to do it, fine. Raise $20 million USD, use $15 million to pay off the remainder of the loan to Third Eye, then there would be about $10 million USD left which I hope would be enough to at least get to the....

Stopping here, I don't think a $20 million USD raise is enough, more like $30 million USD. Enough to pay off the loan with the remainder being sufficient to get to Top-Line results.

Ramble ramble ramble.