To add to your comments, I mentioned in previous postings that some solicitors speculated that this arbitration would cost RIM in excess of $1.4 million. Wow, that is an eye watering sum! Given that, I was expecting to see at least $700,000 of legal fees paid to RIM lawyers in the March quarterly report as this matter had erupted in September 2024. If RIM lose they would have a costs order against them in favour of GPR for another eye watering sum. One can reasonably assume that the $3.2 million in the RIM bank account has been pretty much already "spoken for". Financially, where to from here Rimfire?
The shareholders are in need of some explanations on the mystical legal costs already run up, the anticipated legal fees to the end of the Arbitration and provisions being contemplated if RIM loses. It is a bleak and concerning scenario for the shareholders.
RIM Price at posting:
2.6¢ Sentiment: None Disclosure: Held
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