What will SSN's pending Reserves Report tell us?, page-9

Its complicated Alacrity but I agree it is material (either way) and should be disclosed.

I reread the Feb 17 update which essentially says the "primary lender" and the "necessary financing" be obtained on or before Feb 29.

Then the (late) 10-Q notes that if MOB does agree they expect additional commitments, including finding additional capital within a reasonable time. That could be a challenge.

The absolute worse case scenario is MOB does not agree to fund the Foreman-Butte acquisition. The 10Q is clear - they expect their BB will be reduced. SSN then has 30 days to cure that BB defeciency by making repayments. That is cash SSN does not have.

Either way, the shareholders deserve to know.

GFTA