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8/17/09

Fun with ECU Silver (ECU.to)

Now me myself personally, I like a good laugh.

.....yeah, really. So today I have this great source of endless merry mirth and I'm tucking into it right now. It's called "The ECU Silver Quarterly Earnings Report, June 2009" and you can get your copy of this just-released seventeen page laff'a'minute over at SEDAR right now. (just use that page and tap in "ECU Silver" in the top left). You need to go to SEDAR because strangely, wildly, bizarrely ECU.to management has totally forgotten to announce it has filed its regulatory forms and has also forgotten to add the reports to its own website. Strange dat, innit? Anyway here are a few selected giggles from the files:

  • Working Capital : NEGATIVE $17.37m
  • Interest on long term debt accrued in qtr: $643k
  • Net Loss for Period: $830k
  • Stock based compensation: $557k
  • Decrease in cash in period (my personal favourite): $1.76m

There are plenty more guffaws available, with every page guaranteed to make you laugh (as long as you didn't believe Wistar Holt and the other bullshit pumpers and are long right now, that is). And while you're over at SEDAR, don't forget to pick up your copy of the ECU.to MD&A, too, as it has great little lines like this one...
Substantial expenditures are required to establish and upgrade mineral resources, to establish mineral reserves, to develop metallurgical processes to extract metals from mineral resources....
.....sitting right next door to this one:
The Company had no significant commitments to capital spending as at period end.
Oh man, these dudes crack me up. DYODD, and don't say I didn't warn you, either.