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First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: SPQ - still looking for intelligent discussion

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Re: SPQ - still looking for intelligent discussion

in response to SPQ - still looking for intelligent discussion by SnugTheJoiner

posted on Aug 31, 09 07:29PM

I don't know how intelligent my opinion may appear to others, but I perceive a 10:1 reverse split to be essential to Spider's future. I would accept 1:1 on a KWG offer, if and only if the new co. thus formed (under a plan of arrangement) also included a 10:1 reverse split.

You simply cannot negotiate strong financial terms when you have nearly 500 million shares out (fully diluted) @ 0.035. How long did it take to obtain even a first tranche of financing recently? And what would become of Spider if the company defaults on its exploration expense commitments on the JVs?

Lar

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