There has been no mention of convertibles from management or anyone on the board but you. If all goes according to plan, revenue will start comming in about August and it will be more than enough to cover operations. They've claimed that they already have $9 million in orders lined up from 3rd party mines. Company currently only has two paid management employees. The rest of the work is contracted. Management is probably getting paid from the 20 million allocated to the stock plan, although, as LJ indicated earlier, traditional financing using their property as collateral is the probable and preferred method for getting the startup funds.There's also the 20 million shares allocated for contractors. It will make things easier if the share price keeps going up like today.
As I said in one of my previous posts, I seriously doubt that Guyer would have purchased two new mining properties if he hadn't already arranged the startup financing for the mill. I expect we'll see some clues in the 10Q. If new stock was issued it would have had to have been disclosed on the SEC reports. There have been several indications that some form of financing is available, including the fact that they closed the deal on the mines and paid $3 million+ in cash. The mill was purchased on the cheap for about $500,000 and it alone is estimated to be worth over $12 million.
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