I tend to agree with Krm on this. I don't see the company wasting this opportunity when the getting the drilling started is SO important at this point. As for current operating expenses, that was the whole reason for increasing the authorized shares last year. Granted, at these ridiculously low share prices, it could be that those sales aren't enough to cover expenses at the moment.

Additionally, I want to reiterate that the latest 10Q only reports funds as of July 31. There has been nearly 2 months for that amount to potentially increase. I think that Tracy is likely restricted from commenting on financial figures not yet released to the public via an official 10Q. While this is only my speculation, I think that the funds are actually a fair amount more than that at this point but can't be confirmed or denied by the company. While it may not be enough just yet to start drilling, I think it is likely far more than the $32k being bandied about from the latest 10Q.