Just noticed that Gordon Thompson and the Tullocks repaid about $3m in loans to the company in March by selling a bunch of shares at 90 cents (just after Dickie C used his lunch money to buy a few).
I see at the end of Dec 09 Dyesol had $6.8m in cash on hand and that it burnt $1.65m in that quarter though that was 46% below that of the previous quarter. So my guesstimate is that they perhaps burnt another 2 mill in the March quarter to have around $4.8m left in kitty before the $3m in loans being paid out.
Not sure why the Tullocks (who have heaps of DYE shares left) and particularly Gordon (who now has only a few million left) would sell at this point unless the loans were payable now or unless the company was getting a bit skint.
Another possibility is that from one of their announcements the board has been looking at giving the nod to the construction of a production facility in Wales and perhaps the extra $3 million is now needed.
GSL Price at posting:
98.0¢ Sentiment: Hold Disclosure: Held
