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11/02/08
22:44
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grahod ! VRE were cash negative.They had around 6.5m left on a overdraft and a sale that had to happen to get them back in the black.
Even with the receipts from the gold sales they were loosing 3m a month and that information was fully disclosed in the quarterly.
The problem was that a lot of investors just read what day wanted to read and that was all the positive stuff.
I was going to buy into VRE until I read the qty and couldn't believe my eyes when I saw the cash flow situation.
I was going to post a the cash flow situation,but figured everyone new and had taken it in there stride.
But Ill be posting all negative cash flow situations in the future,If I come across any that is.
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