Posted: 1/22/2004 7:44:08 AM EDT
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Don't tell anybody about this. Its just for your information. Symbol "slph". Company name "Sulphco Inc.". My brother is hot about it [10,000 shares]. Good luck! |
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Oh, yeah, a company with revenue of zero, half a million dollars in operating expenses per quarter, and little or no cash, sign me up! "At October 28, 2003, the Company had $239,006.98 in available cash reserves. As the Company is a development stage company, it has not generated any material revenues, and it does not anticipate generating any material revenues unless and until a licensing agreement or other commercial arrangement is entered into with respect to its technology. The Company's current monthly cash outflow, or cash burn rate, is approximately $250,000 per month. Therefore, unless licensing revenue or additional funds are received, the Company will be required to substantially reduce or cease its business operations by the end of November 2003. The Company currently plans to meet its liquidity requirements primarily through revenue from the licensing of its technology, the operation of its desulfurization units and proceeds from debt or equity financings. The Company's major shareholder has agreed with the Company to provide the Company with an additional $500,000.00 in capital by purchasing 2,173,913 shares of the Company's common stock for $500,000 or approximately twenty-three cents per share. This equity financing is expected to be concluded by the end of October 2003. Other than this purchase of shares for $500,000, the Company presently has no commitments for any such licensing arrangements or financings. If the Company's major shareholder fails to provide the $500,000 in equity financing, the Company must cease its business operations by the end of November 2003. Even if the funding is received, but the testing of the Company's bench scale process or of the 1,000 bbl per day unit is unfavorable or not sufficiently favorable, or if the receipt of revenue from its licensing and business operations is delayed, and the Company is unable to otherwise raise funds on acceptable terms, it will not be able to continue to exist, conduct further development and testing of its technologies, take advantage of future opportunities or respond to unanticipated requirements, any of which would negatively impact its business, operating results and financial condition." |