We as shareholders have been told consistently now for some time that the company is transitioning from R & D to producing revenue yet the largest outgoing remains to be wages so my point is really very simple, if thee is insufficient revenue being derived then how else are those costs going to be met? Ah yes, a CR as in the past on numerous occasions.
The work that CKK/Globedrill have won/accepted/completed isn't exactly setting the world on fire, certainly with any consistency. My point is get the rig to work on a continual basis, it's simple; drill the holes and get paid for them! In particular with the WPL job late last year, was to a large extent surrounded in secrecy for whatever reason.
The company is under contract to build a certain number of rig/s by a particular date which was if I recall was amended with the agreeance of WS last year for the hadsome reward of more options? The original timeframe was pushed out to make allowances for the accute over-promising and under-delivering.
Talk to anyone of those closely aligned to the company and you'll get all manner of promises and grandiose expectations, still nothing like any of those promises have materialised. Not at least in the time I've been a shareholder.
WC8
CKK Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
