According to Critical Elements Corporation's consolidated Annual Financial Report for the year ended August 31, 2012, the company has approximately $712,024 in Cash and cash equivalents.
You can download a copy of Critical Elements Corporation's consolidated Annual Financial Report for the year ended August 31, 2012 at the following link:
According to Critical Elements Corporation's Management Discussion and Analysis for the year ended August 31, 2012:
LIQUIDITY AND CAPITAL RESOURCES
Cash and cash equivalents as at August 31, 2012, totalled $712,024 compared to $2,224,229 as at August 31, 2011. It is management's intention to secure further capital funding in the form of equity to support current and future exploration and evaluation assets development.
For the next year, the Company has budgeted $940,000 for administrative expenses. As at the date hereof, the Company did not have the necessary cash to fulfill its commitments. The Company will have to find funds in order to fulfill its commitments. The Company will have to find additional funds and despite the fact it has been successful in the past, there is no guarantee for the future. Actually, there remains a risk that the Company is unable to find cash even if management is optimistic in finding the necessary cash for the implementation of its strategic plan. Advanced exploration of some of the mineral properties would require substantially more financial resources. During the year ended August 31, 2012, the Company was able to rely on its ability to raise financing through public or privately-negotiated equity offerings. There is no assurance that such financing will be available when required, or under terms that are favourable to Critical Elements. The Company may also elect to advance the exploration and development of mineral properties through joint ventures. Management is currently considering opportunities for further financing.