https://www.otcmarkets.com/filing/html?id=13492879
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Posted On: 06/14/2019 5:40:58 PM
https://www.otcmarkets.com/filing/html?id=134...nhXzFf8M3h
in a mesmerizing maze of qualifications there are 3 or 4 nasdaq markets w varying requirements- for example re market value
zn had been all right on the market value requirement until recently-but since the pps has dropped to an all time low(pps is now .3735 and with ca 72.5 M shares market value is pps times number of shares =just over 27M
Chiefly resulting from delaying the 3d for 8 months and the fundraising program which began april 24 and which recently was extended to June 26
the fundraising program diverts buy side pressure on pps as buyers who otherwise would buy on the market are buying directly from the company (which doesnt receive a cent from market transactions) and thus weakens the pps.
plus i dont think there was adequate explanation of the reason for the 8 month 3d survey delay-stated reason was the survey trucks would get stuck in the muck during the october - march rainy season
but i would have added that the cost to import the trucks etc was ca 300k and if the survey ran for only 2 months- august-september- then zn would have an additional 300k expense repatriating the trucks back presumably to the usa and then reimporting them in the spring
and there are other reasons which could have been detailed- fields are fallow anywhere from april through september,depending on the crop,so conducting the survey during the planting and growing season would be more disruptive and raise the damages zn would have to pay farmers,especially since zn increased the initially planned 50 sq km survey to 72 sq km (filings still only note 60km, but such has not been corrected yet).
were there delays associated w acquiring the necessary permits?
Anyway, their 3d specialist has over 26 years of 2d and 3d experience,especially for the larger viking co and i hope the delay came with his approval as defacto COO,replacing drilling specialist dustin (who came from viking and no doubt brought his 3d friend on board) in that role.
in a mesmerizing maze of qualifications there are 3 or 4 nasdaq markets w varying requirements- for example re market value
zn had been all right on the market value requirement until recently-but since the pps has dropped to an all time low(pps is now .3735 and with ca 72.5 M shares market value is pps times number of shares =just over 27M
Chiefly resulting from delaying the 3d for 8 months and the fundraising program which began april 24 and which recently was extended to June 26
the fundraising program diverts buy side pressure on pps as buyers who otherwise would buy on the market are buying directly from the company (which doesnt receive a cent from market transactions) and thus weakens the pps.
plus i dont think there was adequate explanation of the reason for the 8 month 3d survey delay-stated reason was the survey trucks would get stuck in the muck during the october - march rainy season
but i would have added that the cost to import the trucks etc was ca 300k and if the survey ran for only 2 months- august-september- then zn would have an additional 300k expense repatriating the trucks back presumably to the usa and then reimporting them in the spring
and there are other reasons which could have been detailed- fields are fallow anywhere from april through september,depending on the crop,so conducting the survey during the planting and growing season would be more disruptive and raise the damages zn would have to pay farmers,especially since zn increased the initially planned 50 sq km survey to 72 sq km (filings still only note 60km, but such has not been corrected yet).
were there delays associated w acquiring the necessary permits?
Anyway, their 3d specialist has over 26 years of 2d and 3d experience,especially for the larger viking co and i hope the delay came with his approval as defacto COO,replacing drilling specialist dustin (who came from viking and no doubt brought his 3d friend on board) in that role.
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