Hi Les,
Part of the $400,000 is related to maintaining status as operating company, and these expenses do not disappear. Those epenses I will estimate, conservatively at $50,000 to $100,000 per year. Legal,accounting, edgar, and now XBRL requirements are ongoing and generally cannot be paid in shares. re-opening the mill requires working capital- initial salaries, materials and supplies, and to deal with timing issues on when funds received from sales of processed material, plus remaining costs to meet permit. Not all contractors and specialists will receive shares, especially when they encounter the difficulties of finding broker to take shares with a DTC chill.Frankly it defies common sense IMO to imagine they will need less money in a year they project to be re-opening a mill, and that doesnt count any cash necessary to re-negotiate property deals etc they have annoucned, and unforeseen delays.
As far as rising share county, a fair portion of this must be convertible notes being converted, plus some issuance of shares for servcies etc.Since they havent filed 8k on new financings,but some have indictaed they believe ther eis some credit line in place, perhaps or some reason any such financing company feels doesnt have to be announced on 8k.
As far as share price I see it staying under pressure until the company come sout with a more comprhensive and explanatory path forward of how they will meet objectives, even if there are delays, and has better investor relations, just my opinion of coruse.
AI
