Big Valley working capital deficit cut in half in Q3
Big Valley Resources Inc BV
Shares issued 32,313,655 May 30 close $0.01
Fri 30 May 2003 News Release
Mr. Edward McGovern reports
Big Valley Resources has provided its third quarter financial results for
the nine months ended March 31, 2003. The company recorded a cash operating
deficit of $79,507 (2002 -- $590,836). The company has a working capital
deficit of $367,302 (March 31, 2002 -- $798,990).
During the nine-month period March 31, 2003, the company completed a
shares-for-debt transaction with certain creditors in the amount of
$535,808. Also during the period, the company completed a private placement
by issuing two million common shares for $100,000. An amount of $40,000 was
received during the period.
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