So basically folks, BGL is technically insolvent. I'd guess with a C$9m hit waiting to hit their accounts, they pretty soon won't be able to afford their listing fees.

I don't know what the listing fees are the Canadian Venture Exchange, but I'd guess its a fair bit.

So, when they take the hit, they pretty well pull the plug on themselves and cannot regard themselves as a going concern any more. So, the end is near one way or another.

Thanks to Winston Cooper for his expert analysis of BGL's accounts. I would not have known all this were it not for him posting the stuff he has over the last few days.