Am I the only one that is concerned about these words?
The proceeds of the private placement will be used to pay TSX sustaining fees; annual government fees for the Company's Peruvian and B.C. properties; audit fees; and for working capital.
Or is that a prophecy of what is going to happen next?
THE SP is HALF of the finacing price, so, unless management fill it (No chance, IMHO) then who will?
Maybe now we see the effect the block of 413,000 on the ASK is having on the SP, and whenever it climbs to 3c, it is always sold back down to 2.5c!
So then we look at the amount being raised, $250K, not much for a listed company, and there's a 10% finders' fee to take off, so say $20K off that for a start.
Then accordng to the accounts Lori is owed money for legal fees she has paid, $124K, so that COULD be paid to her, leaving a possible paltry $105K remaining to pay salaries and office rent, plus the listing and audit fees, and of course, if there's anything left, licence fees for the various properties.
As at November 30, 2013, accounts payable and accriued liabilities include $23,753 (May 31, 2013: $24,883(, dueto these related parties.
Due to related parties include $124,411 due to the company owned by the president of the Company, who paid for the Company’s legal expense.
Then there is the ongoing (?) legal actions taken against certain shareholders to fund, so how much would remain?
And why would shareholders finance legal action against themselves?
Where is the incentive for a shareholder to participate in this financing?
