The convertible figure more like $230,000 not $85,000, as I posted before it is the face value that can be converted, not the value after the unamortized discount.
Quite agree that the total funds required clearly the company either has to re-negotiate or settle by means other than cash, as I doubt company has ability to raise $5 million at this time.
My opinion has been that (a) maintaining funds to stay a reporting company (b) deal with permit issues (c) negotiate the various pending requirements, requires at least as much cash as they had to cover last year which is around $400,000. You indicated that one method is using up what appears to be unused convertible note agreements of $400,000, but as I pointed out this would not explain increase in authorized shares the last few months- but the $200,000 on balance sheet may have already been converted, without raising new cash.The next 10q should answer these questions.
So if you are correct they were able to draw on existing arrangements, that would be $600,000 in conversions this year + whatever shares they have issued for bills and services.I am quite curious with a DTC chill how the convertible noteholders are dealing with clearing and trading issues, guess we wont ever know.
Crtainly I am not recommending an agressive pump and dump promotion, but simply a conservative corporate update answering key questions that cause so much doubt to be raised.
As far as funding for mine exploration and development I dont really think much would be done this year with the shape of the company's finances, and this will not be an overnight process re-gaining access, setting up underground services, personnel, etc etc. Mill feed if at all possible this year would have to come from mines already operating, and company would need to offer better prices and terms to get the business.
I guess we can agree to disagree on one last point- I find the lack of an 8k on the March 6 transaction or lack of, inexcusable. First step in building credibility is transparency, they dont need an outside IR firm to do that.
