Re: ZEN's financial state...
in response to
by
posted on
Jun 05, 2015 07:03PM
Hydrothermal Graphite Deposit Ammenable for Commercial Graphene Applications
The leaked ROTH update indicates that ZEN has $6.6M cash in hand.
Is that not correct?
No, that is far from being correct. According to SEDAR filings, ZEN had $1,327,226 in cash and investments as @ December 31, 2014.
Add whatever grants they have received since and subtract costs covering 5 months of keeping the doors open and conducting business going thru May, 2015. RPA will be sending them a big bill as well.
Zen is going to need some $ soon, whatever the source. Possibility of a PP once the PEA is filed are high, IMO.