Replies to post #63763 on Copper King Mining Corporation fka CPRKQ

[richard.w]

Well, since the name of the 3rd party is not mentioned in the PR, you cannot state with fact what it is and what it isn't. Neither can I. This is what the PR says.

"Financial Position-

A short-term loan agreement has been approved by and between the Company’s management and a third-party lender. Some proceeds from the short-term loan have already been advanced to the Company under the agreement. The current Business Plan of the Company is now under revision to accommodate the above changes and other recommended changes resulting from outside consultants, including a revision of the Use of Proceeds, and a resolution of various funding contingencies, which is underway. "

[ThunderBell]

I applaud the PR. At least it shows that MS may be finally facing facts. The problem with it is that management (current management) still appears to deny any role in creating the problem. Where were they for the last three years? They have all been involved at least that long.

If you look at the financial information mentioned in your post you will also note that the original "mortgage" note (the one the PR lists as in "default since July 2007") was for 3 million dollars. How did it grow to $30 plus million in three years? Was that all penalties and interest? Was that the loan MS assured MD he would pay off by May 1st 2007?

Management built what they did (badly engineered as it is) on the backs of vendors and shareholders because they did not get the financing they were sure would come. If they had the $$ would they have done it right?

I just hope they can find a way to fix it.