As of 01/07/2012 Redstones net cash position was negative to the...

As of 01/07/2012 Redstones net cash position was negative to the tune of $ 217,000.00
As of 01/10/2012 Redstone had a very small amount of cash but did not disclose liabilities.
With a cash burn of $ 130-150,000.00/mth.it was urgent to raise money through Argonaut.
Raising $ 2 mill.less fee to Argonaut will keep Redstone afloat till apprx.01/07/2013 with very little drilling done due to seasonal factors leaving only money to pay f.overhead
and salaries.
Do the calculation yourself:
12 x $ 140,000.00 = 1.68 mill.
neg.cash position 0.217 --
Argonaut fee ? 0.100 --
others 0.003 --
GT 2.000 --
leaving not much f.exploration !
This company is fighting,as many others,for survival.
With no professional on board it looks like a loosing battle.