Hemi has stated in multiple PRs this year that not only are they debt free, but they are cash flow positive. They have also stated specifically that they are paying their bills with money from oil sales.
No doubt things have gotten a bit tighter with decline in crude prices lately, but their regular month-to-month operating expenses have been kept in check and they have maintained a pay-as-they-go philosophy. Their expenses are meager. The recent infusion of cash from the divestiture of the WY leases gives them some room for expansion (the horizontal drilling they are working on)
They have in the past obtained some minor financing as you mention, when they purchased their workover rig... it was a relatively small loan (like a big used car loan) and at the time even with mature well production only, it was pretty obvious it wasn't going to take much to pay it off. It was simply more convenient at the time.
Between your post, and Bdahl's post with the demonstration of a disconnect between SP and true value that can very easily apply to Hemi, IMO it shows that Hemi's potential and inherent value has not changed other than to improve over time.
Even though at times they have paid for services in shares instead of dollars, they have never used the shares in an abusively-dilutive way... it has always been to grow the company. And despite what at times seems like a glacial pace in getting projects completed, they have never-the-less constantly been moving forward and adding value to their leases and proving up more reserves, etc.
They are worth much much more than they were a year ago, and they still remain on track for their overall goals.
Those who speak of Hemi as if we know nothing about them, IMO, are in error, as there is much information already out there. Some may require some extrapolation to continue the logical progression from their last known standing on some things, but it's there. And the PRs are very informative if some industry perspective and understanding is appplied to get the full meaning and implications.
Furthermore, the great majority of the negative "arguments" being made are based on all kinds of wild imaginings of what CAN occur in a pink sheet company... based on what is POSSIBLE within the world of the pink sheets... but IMO it is seldom based on what is LIKELY, let alone on what is TRUE and FACTUAL.
Never is the imputus or motivation shown for why Hemi would ever want to go down any of those nightmare scenario paths or to get off track from how they've conducted their business all along and why they'd choose to diverge from their simple plan.
They paint Hemi with a broad brush based on past experience, or based on common Pink Sheet stories, but all the while ignoring how much of those experiences are based solely on the individuals errant choices in their investing/trading.
Hemi's potential is ALL still there and growing. And beyond potential even if we don't have the lastest, greatest specific financials or even the latest share structure... they still have the goods, proven reserves, tangible, touchable assets (witnessed and touched by many here) to go along with that potential and likelihood of fulfilling their plans, IMO.
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