I think both of you are right about the convertibles, in as much as we can figure from the sidelines. It's hard to figure what the share expenditure will be based on prior Q's though. They paid over 6M for "future work" last quarter and over 2M to the CD - will this be the same this Q? I doubt it. Could be more, but I'm more inclined to think they'll be saving up for 3rd Qtr when they will hitting it hard and fast. I've noticed Guyer doesn't just borrow money to let money sit on the table while he waits. The cd tranches happen fast. As long as the reserve is in place it seems like the finance companies don't have a problem cutting the check. It'll be interesting to watch if the discount turns around to our favor - if the pps rises people will probably complain the Guyer should have borrowed more though cd.
He's going to be juggling things pretty tight in the coming months. He only has an AS of 1B to play with. I'm sure he would have liked it to be more, but the costs associated to increase over that point in the State of Nevada create diminishing returns - it's relatively cheap until you hit the 1B ceiling. This is why it's a great thing for us there's isn't much petty cash laying around.
Just in general, it costs a lot of money for a company with little cash assets to play the penny game. The rules are the same for both scams and legit companies; there are the normal SEC filing costs, then they are looking at 10s of thousands to increase the AS over a billion, then there's the IR costs associated with running an IRP awareness party - that can run over $20K for just a 3 or 4 day run with a crew working the boards, stock pick sites and Youtube "chart analysts" doodling their opinion. If this is the kind of action someone is looking for, CGFI isn't the place right now; the focus is on other things - at the proper time.
Guyer is legit, but just being legit doesn't make it a sure thing. On the upside, he's one of the most patient and tenacious people I've ever met - do not play chess with Guyer. Might seem dark right now, unless you lived through the Hennis period when the company lost 3 mines, or the 2010 DRMS period when personal agendas overrode common sense. There are too many eamples to list of times Guyer shouldn't have been able to pull it out, but he did. It's all come at a cost. There's too many things that are out of his control to stick to one plan, this might be one of the reasons he's careful with forward looking details. He doesn't think inside the box and he doesn't think linear. To him a plan is more like a family tree than a straight line. He has to figure out what to do at every fork before it happens. He good at this and he's very analytical. This shows up in his varied personal interests, his education, his varied written articles - you can't second guess the guy. Sometimes I think what keeps most up at night with worry is actually fun for him.
It's still wait and see time. Whether they get a bank loan or someone just loans them the money - that will be a win if it happens. (We aren't really talking about that much cash for startup, not with the potential.)Guyers kept things close to the cuff lately, with both good and bad news. I look at it more being a flexibility advantage than trying to hide anything.
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