That’s a great idea Megashear, it’s pretty mu
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Posted On: 08/12/2018 10:50:16 PM
That’s a great idea Megashear, it’s pretty much just been two of us trading posts every few days. Newcomers are welcome here to share ideas and opinions.
From what I can garner, operations are currently on hold due to lack of funds.
10Q is due this week, Tuesday I think, but may not show up til Friday or Monday if PT decides to use the 5 day extension.
In my opinion, PT is a long ways from done. Hoping for someone to step up and make this work.However , there are other avenues to explore, if PT can’t find a JV partner with deep enough pockets to advance his plans stated in the PR. Some of those avenues, we may not like, but they may be necessary.
There is always a willing predator who will offer toxic financing. It may be needed to hire a crew and equipment to get Elena up and running. If they truly believe they have solved the chemistry, it could be viable. I don’t know what shape the pad is in. Note term 12 months with no conversions before 6 months.
Another unfavorable but possible option is a reverse split. A 10 for 1 gives us roughly 80 million, or a 20 for 1 gives us 40 million outstanding. That makes it more marketable and attractive for conventional financing.
Again, not a great option, but better than seeing bankruptcy and a zero account balance. Bottom line line is company appears to be currently broke.
Anyone else have any other ideas to throw out?
From what I can garner, operations are currently on hold due to lack of funds.
10Q is due this week, Tuesday I think, but may not show up til Friday or Monday if PT decides to use the 5 day extension.
In my opinion, PT is a long ways from done. Hoping for someone to step up and make this work.However , there are other avenues to explore, if PT can’t find a JV partner with deep enough pockets to advance his plans stated in the PR. Some of those avenues, we may not like, but they may be necessary.
There is always a willing predator who will offer toxic financing. It may be needed to hire a crew and equipment to get Elena up and running. If they truly believe they have solved the chemistry, it could be viable. I don’t know what shape the pad is in. Note term 12 months with no conversions before 6 months.
Another unfavorable but possible option is a reverse split. A 10 for 1 gives us roughly 80 million, or a 20 for 1 gives us 40 million outstanding. That makes it more marketable and attractive for conventional financing.
Again, not a great option, but better than seeing bankruptcy and a zero account balance. Bottom line line is company appears to be currently broke.
Anyone else have any other ideas to throw out?
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