Liquidity and Capital Resources The Company had
Post# of 1140
Posted On: 11/12/2014 10:37:13 PM
Liquidity and Capital Resources
The Company had working capital of $11,741,652 on September 30, 2014 compared to $3,272,349 on December 31, 2013. The increase and maintenance of the higher working capital was due to the $4.5 million dollars of financing completed on February 13, 2014 in addition to the $8.6 million dollars raised through the exercise of stock options and warrants in the period ended September 30, 2014. The Company has no significant operational or capital commitments.
The Company continues to attract the interest of investors who have financially supported the Company and its efforts.
The Company’s balance sheet as at September 30, 2014 has assets with a book value of $13,641,611 (2013 - $4,557,844) of which 91% (2013 - 79%) or $12,359,517 (2013 - $3,528,376) is current and primarily cash of $12,281,016 (2013 - $3,260,967). This liquid and unencumbered balance sheet has allowed a flurry of activity already undertaken and further expected in the year, including but not limited to achieving technical and operational milestones.
Based on current plans and cash utilization the Company believes it has sufficient liquidity to support its operations and technological programs through 2015. The Company is embarking on an aggressive plan of attempting to monetize POET while simultaneously improving shareholder value. The focus therefore is to remain sufficiently capitalized through lean operations.
The Company had working capital of $11,741,652 on September 30, 2014 compared to $3,272,349 on December 31, 2013. The increase and maintenance of the higher working capital was due to the $4.5 million dollars of financing completed on February 13, 2014 in addition to the $8.6 million dollars raised through the exercise of stock options and warrants in the period ended September 30, 2014. The Company has no significant operational or capital commitments.
The Company continues to attract the interest of investors who have financially supported the Company and its efforts.
The Company’s balance sheet as at September 30, 2014 has assets with a book value of $13,641,611 (2013 - $4,557,844) of which 91% (2013 - 79%) or $12,359,517 (2013 - $3,528,376) is current and primarily cash of $12,281,016 (2013 - $3,260,967). This liquid and unencumbered balance sheet has allowed a flurry of activity already undertaken and further expected in the year, including but not limited to achieving technical and operational milestones.
Based on current plans and cash utilization the Company believes it has sufficient liquidity to support its operations and technological programs through 2015. The Company is embarking on an aggressive plan of attempting to monetize POET while simultaneously improving shareholder value. The focus therefore is to remain sufficiently capitalized through lean operations.
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