Ann: Quarterly Activities and Cashflow Report, page-134

You're welcome to have your opinion but everytime someone has an alternate view you label them as having "an unhealthy disposition".

IMO its unhealthy to ignore what people have got to say because it's an alternate view and blindly believe that ones view has to be correct. IMO that's commonly referred to as "burying your head in the sand".

This is a stock forum which promotes discussion and debate about stocks and as a result there will usually be two sides to the argument.

You continue to say its simple and it all will just happen whereas I tend to believe in facts and figures. IMO this company needs to raise at a very minimum, $4 million. That is basically two quarters of current cash burn and will support the current burn rate which will probably only increase mind you through BFS. At this rate the company will be running on "fumes again" just ahead of the option expiry in December. Of course to get that $5million in the door the stock has to be north of two cents but that is another argument altogether.

As it stands today to get a rights issue or placement/rights issue of that magnitude over the line it would be heavily discounted and why wouldnt it be as to encourage shareholders to "chip in" yet again. Mind you Mr Kabunga holds approx 15% of the company so his entitlement would be nearly $600k (no small cheque) and why wouldn't he and other major shareholders want it done as cheaply as possible? Imo Maybe the fact this has gone on so long is a testiment to the fact that there are far too many shares and options on issue already and that "new players" would like to see a "tidy up" of the cap structure through a consolidation, something which IMO should have happened before as I've mentioned previously.

So IMO I think it would be roughly a 1:5 at 2 cents being 200 million shares to raise $4million. In this market I can't see them getting a raise like this away at a better price and any smaller raise will merely be nothing more than a "band aid" and the stock will be back to the market in no time.

IMO its that simple and why anyone would want to buy stock here above 3 cents given this backdrop is personally beyond me.