last 10q: "At September 30, 2018, we had approximately $5,318,000 in cash and cash equivalents" . Their Sept 27 8k reported a raise of 5.3M
Since their fall testing did not last as long as they had presumed(we were surprised to get news of completion of testing long before the indicated window of testing was over),and since 600k/month without drilling etc would last almost 9 months,logic indicates,absent large unusual expenses we dont know about,that some of the that 5.318M remains.
Also, they may not have factored(bc the situation was so new) into their 600k estimate that Dustin was now fulfilling duties for COO,PRES and CEO,as Victors CEO salary no longer exists.
During non testing times they could probably save money in other areas also.
Kyoil has publicly said he continues to buy monthly and I presume that includes many others who believe in the cause and the eventual expected result.
Very few expected the large raise of 5.3M from Aug 21 to Sept 26 during the then unfavorable time of year for fundraising.
As I've said before ZN's rather unique mission,which is viewed favorably by a potentially very large worldwide donor base,gives ZN a leg up on fundraising,as can be inferred from its 18 year incorporated history of such fundraising.
So, whereas we dont know how much was raised in this last period yet,the usual prognostications of doom have previously proven false.
If the amount raised fell far short of objectives they could have extended the time for such a raise. They are more familiar w their history/ability to raise than anybody and they confidently throughout the period stuck to an end date of jan 23 for the fundraise.
Since their fall testing did not last as long as they had presumed(we were surprised to get news of completion of testing long before the indicated window of testing was over),and since 600k/month without drilling etc would last almost 9 months,logic indicates,absent large unusual expenses we dont know about,that some of the that 5.318M remains.
Also, they may not have factored(bc the situation was so new) into their 600k estimate that Dustin was now fulfilling duties for COO,PRES and CEO,as Victors CEO salary no longer exists.
During non testing times they could probably save money in other areas also.
Kyoil has publicly said he continues to buy monthly and I presume that includes many others who believe in the cause and the eventual expected result.
Very few expected the large raise of 5.3M from Aug 21 to Sept 26 during the then unfavorable time of year for fundraising.
As I've said before ZN's rather unique mission,which is viewed favorably by a potentially very large worldwide donor base,gives ZN a leg up on fundraising,as can be inferred from its 18 year incorporated history of such fundraising.
So, whereas we dont know how much was raised in this last period yet,the usual prognostications of doom have previously proven false.
If the amount raised fell far short of objectives they could have extended the time for such a raise. They are more familiar w their history/ability to raise than anybody and they confidently throughout the period stuck to an end date of jan 23 for the fundraise.
