re: Ann: Quarterly Activities Report and Cash...
- Drawn down over $40m of that loan facility.
- Repayment due April 2012
- Cash on hand 6m
- Cash burn 28m for the quarter
- 9.3m on administration (disgraceful for such a small cap company with so many current issues)
To be honest its not looking good. Without some form of deal this stock is doomed. Disgraceful what happened to this once promising company. I held but bailed last year around the $1.70ish mark for a small loss on fear of funding issues. I think Harbinger selling out was the first sign of troubles to come.
In my personal opinion massive dilution is coming, or MMX will become insolvent without a deal struck. Although I do believe some form deal will occur, but I don't think it'll be on favourable terms.
MMX Price at posting:
28.5¢ Sentiment: None Disclosure: Held
