Red Mountain Resources Inc. (fka RDMPQ)

[SeaOhToo]

LMAO, Double the DEBT and STILL NO CASH!

Did you see the llatest financials.......

RDMP has At August 31, 2012, we had $0.2 million in cash and cash equivalents, $8.0 million outstanding under various promissory notes and $2.5 million outstanding under various convertible promissory notes, net of an aggregate discount of $1.3 million. At August 31, 2012, we had a working capital deficit of $13.0 million compared to a working capital deficit of $7.5 million at August 31, 2011.

RDMP currently does not have sufficient funds for our planned exploration or development activities for fiscal 2013 and will need additional capital to continue our operations beyond November 16, 2012, or sooner if demand for payment is made under either our line of credit or promissory note with First State Bank of Lonoke (“FSB”). We are exploring available financing options, including the sale of debt or equity. If we are unable to finance our operations on acceptable terms or at all, our business, financial condition and results of operations may be materially and adversely affected.