During the three months ended March 31, 2014, additions to property and equipment included computer equipment and software, a Company manufactured fixture to house the Company’s raw metals inventory and additions to a mobile operations vehicle originally purchased during the fourth quarter of 2013. The Company also had additions to leasehold improvements and office equipment relating to the build out of the mining office in Park City, Utah. Depreciation expense amounted to approximately $0.1 million for the three months ended March 31, 2014.
Hurst, Also buried in this ugly report is seen a prediction of life for at least 12 more months if every thing goes well. ET needs a successful ARB result and/or sale of intellectual property to give further running room. Fragile finances are always a problem in mini-caps.
"Fragile finances are always a problem in mini-caps."
especially when there is a ceo who has hired numerous family members into extraneous positions to justify using shareholder value to pay them and himself extravagant salaries rather than responsibly being very frugal with preserving company funds for expansion, marketing, etc. Until and if this is stopped ET will only bleed down to BK. But the MACs will exit BK with everything they have consistently siphoned away while the shareholders will exit with cancellation of shares and thus nothing.
Hurst, let me precede the onslaught ---you're delusional, you lie, you're a pumper., your tie is inappropriate, you're a relative of Dennis, if you know about Utah you must have a Mormon relative. Oh MY !!!!
Ha! Or I just read the Quarterly Report that was filed tonight after the bell...Not a whole lot divulged in it, but they keep committing to build outs of property and equipment and are building the first Ecos Powercube for demonstrations in 3rd Quarter. An FNES Director, of which I only know of one (the Chairman) bought out the notes payable by FNES of the first EF80 and a partial buyout of the second EF80. To me, this means he has a high outlook and confidence that FNES is going to be around a long time to pay him back for that. Just my opinion. They are looking for Partners in the mining industry which they now have demonstration equipment in place, as well as, for the Ecos PowerCube which they are building a first model for demonstrations. Partners will want to see these working models before buy-in.