QED Connect Inc (QEDN)

[wingnut2tight]

Dead body at the dead goldmine. QEDN owes 1 million per year. Company can't afford to update the report. What a POS.

This is so much more than a scam, it's a scam with a keystone cops comedy attached.


From the report:

When the Company was formed it elected to not booked the reserves of the Gold Mine, but to keep track of its
value off the Mineral deposits using the Jennings Capital formula per the ASC 360-10-40 Report as we
understood it, which based on the valuation and type of the Gold reserves at per ounce, valued the mine at
$16,318,995 when Gold was at $1800 per oz. This valuation was also based on the Company being able to fully
mechanize the mine, which has not happened. The current value of the mine based on the above formula and the
current Gold values at $1,084 less ore that has been mined as of December 31, 2014 is $10,907,415. As the
Company has not been able to afford to update the report this is the best way to look at the valuation, and due to
the death of our in-country representative we have not been able to get an accurate count of the ore mined for
the last 6 months.