Jonesieatl - A substantial portion of the cash burn rate was the paint business. Billyb did not think too highly of my expectations in cutting cost. However, I have seen a complete turn around of many companies, large and small, due to cutting cost. You have too. Just watch the pps climb the next time you hear that a major exchange company, is reducing workforce, and cutting other cost. It is a winner! My major complaint is that, this should have been done 9 months ago!
NO ONE MISTATED A THING. Your numbers are flat out wrong in your post. Did you forget that they need 2.4 million by december 31st to settle with the silent partners. Did you forget the 1 million they have to spend on equipment. Thats 3.5 million alone isnt it? Then add your 1 million a month burn rate or 12 million for 12 months and what do you have? I believe that alone comes out to around 15 million does it not? So even using your conservative numbers and your estimated burn rates just for the basics they are still short if they raise 10 million plus sell they paint for 3.5 million.
Then lets remember they need to spend another over 2 million on equipment in early 2007 to finish the set up for that contract right?
So until we see a burn rate of under a million as you project, my numbers are far more factual then yours based on what we do know at this time. Its you who has spent the morning after my post, trying to find a way to spin it in a favorable light to NEOM using information even you afdmit you dont have a clue whether is accurate or not. Then you ask others to verify if that sounds reasonable that they have their burn rate down to 800,000 or so a month. WHY YOU ASKING OTHERS? NO ONE HERE KNOWS based on the info WE ALL HAVE. We do not its well above 1 million a month.
and Jonsie dont forget the 32 million that is due the subs in less then 4 months. So spin it all you want but their numbers dont add up or even come close to their current liabilities that are due by end of February. The 10 million dont even cover whats owed the subs at this time let alone fund operations.
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