On 27th June Cuervo filed its annual report. The auditor, 'Collins Barrow Calgary LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern'.
Cuervo just announced a private placement of shares to the value of between $60K to $120K. This is obviously a short term solution that I think will give them cash to keep going in order to make a deal - hopefully with Strike.
No-one is funding these small exploration companies at the moment. So unless there is a chance that they can raise equity capital then Cuervo will be forced to make a deal.
It's been over 3 weeks since we made the offer so the fact that it has not been rejected yet I see as a positive. Means that they must be discussing something.
corporate action?, page-5
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