Re: Rayzz...in case you missed the memo
in response to
by
posted on
Feb 08, 2010 04:45PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Dparge, I'm not disputing that they said With proceeds from recent equipment sales, the Company forecasts that it will have sufficient cash to fund its operations through the first quarter of 2010 (see “Liquidity and Capital Resources” section).
They are required to to tell shareholders how much cash, assets, liabilities, etc., they have in their disclosure. By saying they have sufficient cash to fund operations through the first quarter of 2010 is consistent with earlier disclosures saying they had enough cash to fund operations through the third quarter of 2009 and through the fourth quarter of 2009. I believe the reasoning behind it relates to the many questions asked on this board everyday as well as the many questions asked of management.
I won't bother finding examples but if you look at past posts here you will see the questions asking what is the current burn rate and when will Kry run out of cash/money. Not once has Kry answered the question about cash and then said after the third quarter of 2009, after the fourth quarter of 2009 or after the first quarter of 2010 Kry will be BANKRUPT.
It is posters who have said we are near or weeks away from bankruptcy when in each case Kry has meet their financial obligations. When asked Kry will tell you or anyone else that contacts them that they are constantly aware of their financial position and will take appropriate action when required.
Are they lying to shareholders? I guess time will tell but my belief is they are not.
Do I wish the situation was different and we had half a billion in the bank in cash, you bet I do.
Saying we are weeks or months away from BK only works if you also say assuming that Kry can't obtain financing or can't sell their equipment or can't sell their MOC or can't JV with whom ever, etc.
You and GW are both valuable, intelligent posters but posting comments Kry is weeks away from being BK is simply not true unless you quantify the parameters of you assumption.