watso has taken note of instocks comments, and bought a pack of multivitamins, and a bottle of scotch - and then wondered why instocks was holding the stock "confidentially"
Confidentially \Con`fi*den"tial*ly\, adv. In confidence; in reliance on secrecy. [1913 Webster]
in other words, instocks is not all that CONFIDENT about holding the stock, but holds it in secret (but then announces this fact on hc) . it is alright instocks, watso understands that it must be an embarrassment to hold this stock. it is ok instocks - watso also holds dog stocks that he also holds "confidentially"
for shareholders, the update did provide some information, and from what watso can work out, is that a capital raising will occur before october. the last cash position showed a cash balance of about $1m - but this excludes accounts payable, which watso estimates at about $500,000 (based on the annual report). . the company probably got a reasonable conversions of the options, which may have raised another $600,000 - after taking all of that into account, and that the present quarter will be a $1m quarter, then the company will need to raise funds prior to doing any drilling at corunna downs
a big and brave call by watso, but do not be surprised to see an issue to shareholders at 5c
psst instocks stick to that "confidentially" thing, and never admit that you hold this stock - watso will not tell
GDA Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
