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by Stockwatch Business Reporter
The Canadian Securities Exchange Composite Index dropped 4.25 points to 450.11 Friday, finishing the week up a modest 10.27 points. The Green Organic Dutchman Holdings Ltd. (TGOD) sank 20 cents to $1.19 on 14.1 million shares. The company released a new financial plan today after announcing last week that it was unable to obtain financing for an earlier plan on desirable terms. The Dutchman's new plan is to quit spending so much money, or, as the company euphemistically describes it, "deferring excess capacity and expenses." The Dutchman figures it needs to find between $70-million and $80-million to complete its revised plan, which it has not found yet. Last week, the company's announcement that it had been unable to come to terms to obtain financing sent its stock tumbling. The Dutchman said it had $56.7-million in available cash, but that included $40.2-million of restricted cash that was "allocated to capital expenditures."
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