Ok, figures from quarterly:-
Bal $ 370,000
Proposed Ching deal $5,000,000
Less quarterly outflows $1,547,000
Balance end quarter $3,823,000
Less Arena Payout ?????
Now, obviously they are looking to raise the refinance of Arena through another funding deal over and above that, but at present it has not been done so is not there.
Also, the last time they raised $5m they gave more than half the farm away, so doesn't that ring a few alarm bells. I'd suggest they're scrambling for options right now.............
NXE Price at posting:
5.9¢ Sentiment: None Disclosure: Held
