Good to see some positive momentum Alwayshopeful, however, half of the $10 mill your expecting will be needed to repay the outstanding debts the company has accumulated to date. The other interesting point of interest to me is as of the end of the last quarterly report cash on hand was $204,000 with expected outgoings for the current quarter far exceeding that figure, as previously discussed. Debt holders seem reluctant to convert debt into equity, why would that be I wonder. Still can't blame them really, I wouldn't mind getting a low risk 25% return.
In the Investor Presentation just released, cash on hand is shown as being around $1,000,000 as of 15 August, that is a lot more than $204k, no announcement from the company as to where the funds have come from and under what conditions the funds have been advanced.
Still up 20% yesterday so what do I know!
VAN Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held