Cotton & Western Mining Inc. (CWRN)

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We've been over this some weeks back. That was from the Oct 7,2009 filing as of 9-30-09. It was about that time that there was a PR from the company that they were retiring shares-believe Aug 4,2009. Itmd has noted this-and said that 3 billion shares were retired since then-in a post month or so back?

Otcmarkets(pinksheets)now shows 2.308 B shares outstanding. It would be more relevant to use that more current figure than the old 2009 figure before retirement of 3B shares.

Most assume they issued some shares last summer to pay for incidentals associated w the startup but the vast majority of financing has been debt financing and Bullitt recently said the first shipment would more than pay off that debt,and last PR says those backers are willing to finance bigger ventures-people seem to have forgotten about the second larger mine for which CWRN will be the operational partner.
Even before the current financing they were trying to raise funds via debt but filings only show $50k raised in that manner-2-10.

Last known float before last summers activity was 299 million. Most assume float maybe doubled-the share price was too low to raise a substantial amount and it would not make sense to issue billions of shares at that low price when they knew they would shortly have to buy them back at a huge premium.In such a case debt financing is much more economical.