Hondo Minerals (fka HMNC)

[Oscar2000]

gitreal, they are out of money. take a look at current liabilities, they have a cash overdraft of $111,743 and when you net the two out they are $106k in the hole.

based on the current price, the selling of a lot of shares (since it was announced) I would have to believe this will never close at that price (or really never close at all). who in their right mind would sell at $.15 if they believed the sale would go through at $.75 (or maybe slightly less as management has stuffed their pockets full of shares).

also since this has been announced, why wouldn't the buying company take in all the shares they could get under $.25?

It would be interesting to see exactly what $10m bank instrument was put up, as if it is a letter of credit from a Panamanian bank it will never be cashed (I have no idea what it is but it sounds funky to me).

All my opinions and everyone should do their own DD.