1) As of 30/06/2003 they had $19,000 cash in the Bank. At their cash burn rate they should have zero in the Bank ATM.
2) What are they using for cash?
3) No Activity per statement. So what are they doing?
4) Where is the detailed geological review?
5) Munitions Technology per Audited F/S
"Activity in the munitions technology sector has been wound down and with funds low, it was decided not to proceed beyond lodging patent applications for the munitions and satellite systems and to seek sale of the systems to another group."
6) Per the letter from the indepent audit report dated 9/9/2003 by Stanton Partners and I quote
"The ability of the Company and its subsidiaries to continue as a going concern and meet their planned exploration, administration, and other commitments is dependent upon the Company and its subsidiaries raising further working capital, and/or commencing profitable operations. In the event that the Company cannot raise further equity, the Company may not be able to meet its liabilities as the fall due and the realisable value of the Company's and consolidated entity's non-current assets may be significantly less than book value." STANTON PARTNERS J P Van Dieren Partner
So I ask again what is the share price TGS based on?
An asnwer based on some facts and not one liners would appreciated.
R/Brant
TGS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
