read this before buying You guys need to do a bit of research...

read this before buying You guys need to do a bit of research before posting (and buying).

A few facts:
GPE has access to 100mill loan facility only if it can raise 30% of the cost of biomass projects through equity raising. Given that GPE has zero chance of raising capital from the market, it effectively does NOT have access to loan facility.

So all GPE has to fall back on is about 150k in cash. This is enough cash to last about three weeks.

GPE's operating costs last year were around $4mill.

While I dont have the exact numbers in front of me, I know that GPE also has a few million dollars worth of existing debt.

GPE's only tangible asset is a now-defunct, non-commercial-size (5mw) biomass plant. The plant is unsellable, but, with some luck, certain components could be sold off to raise up to 1mill.

So it doesn't look like there is enough in the kitty (even after an asset sale) even to pay creditors, let alone continue as a going concern.

The only hope GPE has of surviving beyond next week is if a bank decides to grant the company a new line of credit. By my estimate, the company will need to have access to at least 5mill in new funds at the time the full year results are released in order for the auditor to be able to sign off on the company as a going concern. I personally cant see this happening, but perhaps GPE will produce a 'white knight' at the last minute.

Someone asked about the timeframe of the mortgagee selling. The mortgagee will be trying to sell 70mill shares before the full year results are released next week. With 20mill sold already, my guess is that mortgagee will dump 25mill shares on monday, and another 25mill shares on tuesday — no matter what the share price is. The mortgagee MUST sell next week, even if the SP is 0.001. This why it is such a dumb idea bidding the price up.

As far as I can tell, the only people who bought the stock being dumped by Greentown (the mortgagee) on Friday were Hot Copper posters.