re: Ann: Production & Drilling Report - F/E 1... So my question is, if CR has/does change plans, how will a consolidation bring in new finance as the company will still struggle to pay down debt as well as keep the day to day basics covered.
acreage, she's fallen from grand heights with once having over 8k acres in the Permian. Pity the holders weren't fully informed about the white ants, and when they were told it wasn't timely and just how many white ants there were in those 8,800 acres.
Now the MC is only $4.79 mil, and with a SP of 0.001 just add three more zeros and you get the number of shares
If the share numbers weren't high enough at 4.79 bil then there are a multitude of options (which will more than likely not be exercised), but more importantly all the notes that are yet to either convert or pay out, plus the interest on them. Might not be too bad if they could clear them but that seems impossible ATM.
Not able to raise capital sitting at between 0 and 0.001 so where to now? Sell what's left of the farm, clear debt to outside parties, do a 50:1 consolidation and then find an exciting venture to release to market so there is another story to pull in a few more $ to keep the doors open.
After a consolidation if the SP then tanks further, say loses up to another 90% then the noteholders would own just about the whole company or what's left of it.
Question is would they want to own it?
GGP Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
