FWIW:
Today's STX audited report confirms what many good people consistently said during the TO period: TPD did not have a funding problem. Have a look at Note 6 of the report on Asset Acquisition and you will see TPD had cash of $1.605M and borrowings of $3.623 on the acquisition day (27 Dec). There was a tiny cash deficit of $2M, but Walyering was already producing since September and regular cash was already coming in from Santos.
Yet the Talon BOD and the major egos decided that it was too hard for TPD to fund the miniscule cash needed and instead they sold the company.
It reminds me of the Peter Principle: People rise to their level of incompetence.
FWIW:Today's STX audited report confirms what many good people...
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