gdn financial statement 2010

I tried to alert GDN holders earlier about GDN's extremely poor cash position, but again I note with much dismay that despite all their capital raising and selling off of WCU etc, GDN only holds $202,247 cash in the kitty. This is less than RdB's annual salary! They had better start selling gas fast!!! It's no good if you have a so-called "motherload" but can't get it out of the ground. $200k doesn't buy you much these days, so I'd like to know how production costs are going to be bankrolled.

You may recall TCF's post in early August, and my rendition of it:

Its not the well or its workings
It's the whole bl**dy process of furphings
They have burnt through a big pile of dough
Sold off assets at prices too low,
Diluted their share base to naught
While a pipeline just cannot be bought
No money is left in the till
Other than for the management bill
There's just nothing happening in Utah
The well needs much work, but no future
GDN says is all so commercial
But the truth in the end will just curse y'all
Management is the cause of despair
As the shareholders pull out their hair
For the light at the end of the tunnel
Rumbles loudly as we flush down the funnel.

I nevertheless keep holding as they do have gas deep underground, and miracles do happen.