GNCC Capital Inc (GNCP)

[Eli's Gone]

There is no market for the preferred shares--they do not trade...

here's the cliff notes--with the big crayon

debt was created w-a-y back---aged debt is how scams work so the shares can be freely sold with opinion letters...

some of those debt notes were converted into commons and dumped....

that was phase 1 of this "business"---when they ran out of commons to issue it was time for phase 2---and here we are

convert most of the remaining notes to preferred shares and issue them to the original noteholders...

less than a month later, in some "off the market" transaction, move those preferreds into other God knows who entities where they now sit...

now you have a balance sheet that looks a bit better to the unsullied---forget about the mining crap for the moment, move it into newly formed wholly owned subsidiaries as it served it's purpose--and prime the pump with the promise of new cash flow companies coming into the "holding" company...

let a little time go by---natives calm down---open the floodgates--again--rinse and repeat...

the original issue of the "A"'s and "B"'s:

http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=123553

http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=123423

the movement of these preferreds into the new shells is spelled out in the July 26th filings:

http://www.otcmarkets.com/stock/GNCP/filings

ps...don't forget the "A"'s--they come due in the beginning of Nov at a 50% haircut...

and if I wanted to include some BS, I'd mention shorts...