Still losing money hand over fist, another quarter with another $5.277 million loss. Also drawing down the loan another $5million from last quarter, so now in debt of $60 million.
No way of paying this debt when even with record harvests, they are losing $5million a quarter.
The only way of repaying the debt, cash raises, and this last one didnt work out to well, they were issuing new share to raise approximately $11.7 million, the result? $4.46 million. Trueblood tell us again how the company can just issue shares to pay off the debt, they couldnt even raise $5million at all time low offer price, how on earth they going to raise $60 million?
Future not looking too bright for CAN.
Ann: Quarterly Activities and Appendix 4C Cashflow Report, page-2
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