So unless they have the cash in hand now, then they will have to raise it somehow. I am concerned about any further dilution, potentially massive dilution, to cover upfront costs.
As was mentioned the company does have cash on hand. Would you kindly state the date when last the company issued shares in the market? The issued and outstanding share count (61,261,592) has not changed since I came across Wireless Age Communications, Inc. nearly three months back.
The issued and outstanding is also to be reduced to by >30M shares shortly. Europlasma will be financing the Port Hope, Ontario project with their own equity.
I would be far less concerned if they were to borrow the money from a bank, etc. since that doe not affect share equity directly.
Whether an institution, Canadian or American Bank, Simmonds has made it clear that several parties are interested in financing the Connecticut project.
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