Let's get real

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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From_Sudbury

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Let's get real

in response to

who really benefits

From_Sudbury

posted on Jan 02, 2014 01:05PM

This is what the financing has cost us in shares:

Initial 2% of principal = 977,954 shares

1st quarter payment @ .2942/share = 474,941 shares

2nd quarter payment @ .2743/share = 1,438,205 shares

3rd quarter payment @ .3317/share = 1,165,473 shares

4th quarter payment @ .21/share (estimate) = 1,880,000 shares

For a total of 5,936,373 shares....just for the interest...we still owe the principal...and have as collateral all of the assets of the company

Meanwhile, our very compentent management has graciously granted themselves the following stock options:

July 15, 2013 = 4,850,000 @ .25

December 11, 2013 = 3,620,000 @ .17

For a total of 8,470,000 shares

Now you can take my words and interpret them anyway you choose....while trying to suggest that things are better....but, come on now....the dilution is bad...really bad

And perhaps some have a hard time to interpret the message....that being that there are two parties that have much to gain by a poor stock performance...and those two parties are management and those who received shares as interest payments.