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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dr. Ipsofacto who wrote (135866)6/22/2010 7:00:58 PM
From: Ed Ajootian3 Recommendations  Read Replies (1) of 206305
 
Ipso, Doral Energy (DRLY) -- Yes, I've seen it. Per their Note 11 -- Subsequent Events, they cleared $3.7 M from the closing. They had about $500K in payables as of last quarter plus per the PR announcing the sale closing (dtd. 6/16) they paid off $725K of other debt from the proceeds.

So this would imply they ended up with just under $2.5M when the dust settled. They need $1.7 M to close on the purchase which is scheduled for next week, so this leaves them with a few hundred grand to keep the lights on until they can line up some new financing to start development activities.
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