Cash and other assets $2,341,000 as of 12/31/08....key line I found in 10k.....Lorsch will give MMR money until they do a bigger raise through Houlighan or some other investment banker.
Prior to the Merger, MMR financed its operations primarily through private placements of MMR capital stock and from secured loans from The RHL Group, Inc., a wholly-owned affiliate of MMR's founder and Chief Executive Officer, and our current Chairman, President and Chief Executive Officer, Robert H. Lorsch. Although we expect to continue to receive financing from The RHL Group, Inc., we have also continued to incur losses from operations and need additional sources of financing to fund our operations until we develop a profitable business.
Any posts I make are purely my own opinions and not those of the Companies I discuss.
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