Can anyone think of a good reason that MXC should have been lending money to "third parties" at a time they were needing to raise funds from shareholders?
While also paying interest on money owed to the Maltese Government?
They had close to $4m debt as of Dec 31, and I suspect much of that remains and yet, they lend money to third parties without explanation?
There may be a good excuse but they shouldn't be lending money to third parties without explanation to shareholders.
Who's the "third party" and upon what terms is this "loan" agreed upon?
Ann: March Quarterly Activity and Cashflow Report, page-17
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