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Re: foxi post# 182061

Monday, 07/17/2023 6:39:42 PM

Monday, July 17, 2023 6:39:42 PM

Post# of 198729
I flubbed up the math on the exec salaries, adjust accordingly. :o)

Balance sheet in the last quarterly showed only $156,559 in operating cash at end of March, which wouldn't even cover one month of management's salaries. ($40k/mo cash burn just for the four execs with the 2020 three-year employment agreements. See bottom of page 33)



$156k would cover four months of salaries at that burn rate. Point being, ENZC also has operating costs, other people to pay, etc. and $156k isn't a lot to work with. They might need to sell some shares to keep things liquid.