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Thursday, August 01, 2013 9:16:15 PM
How can we talk of profits when we had no cash to pay our day to day costs and make the investment in VSTA?
Making a book profit is not cash, at least yet.
We need to remind ourselves of the ethical issue of representing that BGMO could do a deal with VSTA knowing that there was no cash to do it at the time that it was signed.
Even after the amended dates and rescheduling of the payments, there is no evidence of cash. Even VSTA has stated in their recent SEC filing that there is some risk that BGMO will not deliver.
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