T.ITE: iTech Capital (TSE) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Stuart Carmichael who wrote (957)	9/21/1999 5:46:00 PM
From: keith massey	Read Replies (1) of 5053

$113,000 per month expenses for the last six months Need to correct you again Stuart.... For the past 6 months these are the total expenses according to the latest report on Sedar dated August 10/99 Deprecitatin (and last years exploration) = $15,000 General Administration = $200,000 Investor Relations = $60,000 Professional Fees = $55,000 Project Evaluation = $200,000 Or $88,000/month burn rate. The general administration cost include the salaries of the people looking for the deal along with the project evaluation costs. In other words, of the money they are burning almost all of it has been spent trying to find the best deal for shareholders. During that time period the interest on their holdings was approximately $90-95,000/month which more than offsets their burn rate. If it wouldn't have been for the foreign exchange loss they would have had more money now then they did 6 months ago. There have been 100's of VSE internet/technology deals done in the past year that have caused temporary spikes in the stock. However go back and look where those companies are now or where they will be in 6 months. You will find that the large majority of them will have fallen back to their previous single digit penny status or low. Like I said several months ago, I would rather JDX do the DD and get the best deal(s) instead of rushing in to some scam shell just to run the stock up for a few days and weeks followed by a plunge. I think the amount of time and money that JDX has spent on find a new deal is more than reasonable at this point. How many of the VSE companies pulled down a deal like Medsite.com? If the Medsite.com deal is any indicator of what type of DD the company is doing I am more than happy. Best Regards KEITH

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next