TSOR appears to be getting a 43mm cash injection soon from Mercer Gold Corp through a default judgment. That should help develop their mining projects significantly.
On August 6, 2012, the Company commenced an action against Rahim Jivraj and Mercer BC in US Federal Court under Civil Action number C12-1325 MJP. The Complaint against Jivraj and Mercer BC includes Federal Securities Fraud, Controlling Person Liability, Defamation, Breach of Fiduciary Duty, and Tortious Breach of Implied Covenant of Good Faith and Fair Dealing. The claim is for compensatory damages, which claim may exceed US $43 million, presumed defamation damages and punitive damages, and return of the ten million shares of the Company's stock held by Jivraj and his nominees, as well as legal fees and costs.
The US Federal Court Action commenced by the Company on August 6, 2012 against Rahim Jivraj and Mercer BC continues to proceed. On January 10, 2013, the Company filed submissions to the Chief Justice, including the following proposed order which reads, in part: " IT IS FURTHER ORDERED, ADJUDGED AND DECREED that: (1) Defendant Mercer Gold Corp. (BC) is not permitted to litigate in this Court without qualified legal counsel and no further delay shall be permitted for it to procure counsel. (2) The Answer with respect to defendant Mercer Gold Corp. (BC) is stricken; and, (3) Defendant Mercer Gold Corp. (BC) has defaulted and judgment may be taken"
