CANADIAN OVERSEAS EXPLORATIONS (CVC.V) Message Board

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Gold/Mining/Energy : CANADIAN OVERSEAS EXPLORATIONS (CVC.V)

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To: Rook who wrote (18)	4/9/1997 12:01:00 PM
From: Gulo	of 113

Rook. It is nice to see someone actually doing some DD, but please note that CVC's working capital is not +607,000. According to Canada-Stockwatch (which is where I assume you got the figure), the companies working capital is (607,000). The parenthesis indicate a negative number. CVC is 607,000 in the hole. That is a big difference, especially considering that the company's market cap is only twice that figure. Since Michael Raftery and co. may have been counting on the 5 for 1 stock consolidation, I wouldn't want to speculate on their current intentions. Would it make sense for him to pay off the debt for stock yet again? When he could just buy half the company for the same price?

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