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QURS FINRA deleted symbol:
http://otce.finra.org/DLDeletions
Litigation Release No. 21675 - SEC BRINGS ACTION AGAINST PURPORTED FLORIDA MINING COMPANY AND ITS PRESIDENT FOR FRAUD
Oct 30, 2010
OTC Disclosure & News Service
Washington, DC -
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21675 / September 30, 2010
SECURITIES AND EXCHANGE COMMISSION v. QURI RESOURCES, INC. AND JAIME SANTIAGO GOMEZ, Civil Action No. 10-CV-61824 (S.D. Fla.)
SEC BRINGS ACTION AGAINST PURPORTED FLORIDA MINING COMPANY AND ITS PRESIDENT FOR FRAUD
The Securities and Exchange Commission (Commission) announced today that on September 30, 2010 it filed a complaint against Quri Resources, Inc. (Quri), a purported mining company headquartered in Miami, Florida, and operating in Ecuador, and its CEO, Jaime Santiago Gomez, a resident of Miami, Florida and Quito, Ecuador. The Commission's complaint alleges that Quri and Gomez violated the antifraud provisions of the securities laws in connection with Quri's issuance of a series of false press releases and other misleading public statements and that Gomez also violated the registration provisions of the securities laws by selling Quri stock in unregistered transactions.
According to the complaint filed in the Southern District of Florida, from February to July 2009, Quri claimed in several press releases that, among other things:
¦it was ready to begin drilling on a mining project in Ecuador with a probable gold reserve worth over $1 billion;
¦it had signed letters of intent to acquire two valuable mining projects in Arizona;
¦it had acquired a second mining project in Ecuador and anticipated producing gold within three months; and
¦it had signed a letter of intent to acquire a third valuable mining project in Ecuador.
The complaint also alleges that, at the same time, Quri's website and other public statements described Quri as having ongoing operations, employees worldwide, and an impressive management team.
The complaint alleges that these claims were grossly misleading because, among other things:
¦the exact value of the gold reserves in Ecuador could not be known without further detailed exploration;
¦Quri never acquired any mining projects in Arizona, and it acquired, at most, only one project in Ecuador;
¦Quri never developed any of its purported mining projects and was never in a financial position to do so; and
¦Quri had no money, was never able to raise any funds, had no reasonable expectation of any funding, and was heavily indebted.
The complaint also alleges that Quri did not have any ongoing operations, employees worldwide, or an impressive management team.
The Commission's complaint further alleges that, from February to July 2009, taking advantage of Quri's artificially inflated stock price, Gomez, through an entity he controlled, dumped over half a million shares of Quri stock on the unsuspecting public, selling Quri stock in unregistered transactions, earning at least $17,500 from the sale of the stock.
The Commission's complaint alleges that Quri violated Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder and that Gomez violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. The Commission seeks a final judgment against Quri and Gomez, enjoining Quri from future violations of the foregoing antifraud laws and enjoining Gomez from future violations of the foregoing antifraud and registration laws, ordering civil penalties and disgorgement of all ill-gotten gains, including prejudgment interest, against Gomez, and barring Gomez from participating in any offering of penny stock.
The Commission acknowledges the assistance of the Financial Industry Regulatory Authority (FINRA) in connection with this matter.
See Also: SEC Complaint
Shoot, someone beat me to it. That was too easy a call!
With today's news this looks like a shorting candidate, but I don't want to burn anyone from this board. Was that buy today from anyone here? If so...could you let me know why please?
Thanks in advance
SEC Charges Two Florida Firms, CEOs
The Securities and Exchange Commission charged two Florida companies and their chief executives in relation to issuing press releases touting their companies while the CEOs sold off company stock. The SEC charged Quri Resources Inc. and CEO Jaime Santiago Gomez as well as Atlantis Technology Group and CEO Christopher Dubeau. "Investors were duped into believing that Quri Resources was a successful mining company and that Atlantis Technology Group was selling cutting-edge technology services. Both companies misled investors with exaggerated claims while their respective senior executives illegally dumped shares into the market," said Eric I. Bustillo, Director of the SEC's Miami Regional Office. "We will continue to crack down on companies that promote misleading information."
LOL, yes we are! Thats ok, I enjoy buying the silence.
DI4! WE ARE ONLY TWO HERE ON THIS BOARD!
I'm hanging here with you.
GOLD CONTINUE TO GO UP, NOW AT $ 1,063. 11% UP!!!
GOLD IS UP TODAY TO $ 1,055! AGAIN,A NEW RECORD!
NEW RECORD AGAIN TODAY! $ 1,042 FOR GOLD!
WOW! TODAY GOLD IS UP TO $ 1,034. NEW RECORD!
GOLD IS UP TO $ 1,015 TODAY!
OCT.2 2009. Ask 0.30.
OCT.2 2009. BID 0.15
SOME ANALYSTS PREDICT THAT GOLD PRICE WILL GO UP TO $ 1,400/AN
OUNCE SOON. THAT IS GOOD NEWS FOR SMALL GOLD MINE COMPANIES
LIKE QURS. JMHO!
Oct.1 2009 Volume 140
Oct.1 2009. Bid 0.15 and Ask 0.30
Sept 30 Volume 32,566
Sept.30 Bid 0.12 - Ask 0.30
WOW! GOLD IS UP TODAY TO $ 1.007.60/an ounce.
UP $ 15.90!
Volume today 0.
Volume today 0.
Sept 29
Bid 0.20 and Ask 0.30
Volume 0.
Sept.28 2009.
Bid 0.20 and Ask 0.30
Old News
Quri Resources, Inc. Enters Into Financing Agreement for 3 Million Euros
Date : 07/21/2009 @ 9:00AM
Source : MarketWire
Stock : Quri Resources, Inc. (QURS)
Quote : 0.3 0.1 (50.00%) @ 10:22AM
Quri Resources, Inc. Enters Into Financing Agreement for 3 Million Euros
QUITO, ECUADOR -- (Marketwire) -- 07/21/09 -- Jaime S. Gomez, CEO of Quri Resources (PINKSHEETS: QURS), announced today that the Company entered into a financing agreement with U-mex gmbH, a Swiss investment banking firm.
U-mex will be assisting the company with a private placement of its preferred shares, up to 3 million Euros, on a best-effort basis.
Mr. Gomez stated, "Entering into an agreement with U-Mex was the next logical step for us. It gives us the ability to grow exponentially, giving our shareholders added value." He further stated, "We have over 4,400 acres in Ecuador, several more thousand in the United States and are currently working on acquisitions here in Ecuador and Argentina. We operate out of Quito, Ecuador and subsequently have very low overhead and most of our proceeds from the private placement will go directly to production and acquisitions."
For more information contact info@quriresources.com
Quri Resources is U.S.-based junior mining company committed to the exploration, discovery and development of gold, silver, copper and other minerals. Quri Resources Inc. holds mining rights and mineral concessions in Ecuador and the United States. These properties are in different stages of exploration and development. Quri Resources was founded by professionals with unmatched expertise in business and the mining industry in South America and North America. Quri Resources is committed to exploring responsibly, maintaining environmentally friendly policies while impacting the local economy in an exponentially positive manner that will allow our shareholders to take pride in their investment.
For more information about us, please visit our web site www.quriresources.com
Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Contact:
Jaime Gomez
Phone: 305 755 7482
© 2009 InvestorsHub.Com, Inc.
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volume 100
bid 0.20 and ask 0.30
What is a fair stock price for QURS after this reverse split?
$ 3 per share or higher?
Remember people! SHAREHOLDERS VALUE here means an EMPTY
WALLET...nothing else!
People! Shareholders value meant a sudden Reverse Split,
a crashed stock price and an EMPTY WALLET for the share
holders! This is exactly what happend with QURI! WATCH
out for this company!
You are right,Generic! What will happend with QURS is that
after some time they will make a forward split and dilute
the stock price at that time! I know a little bit of their
tricks but then again, I make the same mistake to believe
them! Live and Learn and Pay!
If you follow paid promoters around, this is what happens.
So this is a lost cause at this point? It seems like the company might actually have some large deposits.
We were deceived with the R/S without any warning!
Obama should change the rules and require shareholders
approval for any reverse split or forward split!
That tells you they had all of their authorized shares out there already in public hands, not that low outstanding stock figure from 2008 that was posted earlier.
It also tells you they will probably do the same thing again.
Quri Resources, Inc. restructures capital 2009-07-20
Quito, Ecuador 2009-07-20. Quri Resources Inc.- Quito, Ecudor July 20th, 2009.- Quri Resources, Inc. (QURI) Announces Effective Date for Reverse Stock Split and New Stock Symbol.
Quri Resources, Inc. (Pink Sheet: QURI) announced today a 1-for-100 reverse split of its common stock and the new trading symbol of QURS effective as of the open of business on July 21, 2009.
Jaime S. Gomez, CEO of Quri Resources, stated, “We just completed the acquisition of La Conquista gold mine project in Ecuador and entered into an agreement for financing for 3 million Euros. As part of these agreements we were required to restructure our capital stock. This is an exciting time for our company and our shareholders. It’s my hope that our shareholders will see this as a positive step towards explosive growth. We are a fast growing company in an exciting industry.”
At the effective time of the reverse stock split each one hundred (100) shares of Common Stock of Quri Resources, Inc., will automatically convert into one (1) share of Common Stock. This effectively reduces the total issued and outstanding shares to 2,499,975. No fractional shares will be issued in connection with the reverse stock split. Instead, any fractional share resulting from the reverse stock split will be rounded up to the next largest whole share.
I was watching this one for about 2 weeks and almost bought Friday.
1-100 reverse split doesn't make sense to me, since the share structure is already small
I removed myself as mod but now I wish I didn't
this will be a super low floater
we should gt updated share strucure after the R/S
Authorized Shares
250,000,000 as of Oct 17, 2008
Outstanding Shares
120,188,000 as of Nov 30, 2008
Float
17,861,750 as of Oct 17, 2008
WIPED OUT BECAUSE OF UNEXPECTED REVERSE SPLIT!
AND BIG DUMPING FROM OTHER PEOPLE!LIVE AND LEARN
BUT IT IS EXPENSIVE!
Yikes
thanks for letting me know flp - appreciate it
guess I can taek this one off my watchlist
Willy Wizard kiss of death LOL
It would be great if someone can contact the TA to see what the current share strucure is:
Authorized Shares
250,000,000 as of Oct 17, 2008
Outstanding Shares
120,188,000 as of Nov 30, 2008
Float
17,861,750 as of Oct 17, 2008
Transfer Agent
Signature Stock Transfer, Inc.
2632 Coachlight Ct.
Plano, TX 75093
Boardmarks have doubled. LOL
Boardmarks: 2
Most likely there are "pumpers" that are unloading!
Tomorrow may be a better day!
Looks like there are still a lot of shares available. Anyone think the company is selling in the open market?
Not unless they have super great financials. 1 cent today at least 5-10 cents in 6 months from now. That 500-1000 profits. I'll take my chances. I have a 1.1 mil shares at avg pps of .013
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Authorized Shares
250,000,000 as of Oct 17, 2008
Outstanding Shares
120,188,000 as of Nov 30, 2008
Float
17,861,750 as of Oct 17, 2008
Signature Stock Transfer, Inc.
2632 Coachlight Ct.
Plano, TX 75093
Quri Resources, Inc. (PINKSHEETS: QURI) Adds New Independent Members to the Board of Directors
QUITO, ECUADOR, Jul 08, 2009 (MARKETWIRE via COMTEX) -- Quri Resources, Inc. (PINKSHEETS: QURI) welcomes independent members Edison Veloz and Duncan Bain to its Board of Directors.
Ing. Edison Veloz originally served on the advisory board and has now accepted a position on the Board of Directors as an independent director. Mr. Veloz comes to us from the Ministry of Mines and Petroleum in Ecuador where he served as a mining Auditor. He has vast knowledge and experience conducting studies about environmental impact diagnosis and evaluation. Mr. Veloz has rendered his services for both the public and private sectors. Mr. Veloz has served as National Mining Director and Regional Mining Director of Ecuador. Within the private sector, he has consulted hundreds of local companies and some major mining companies such as: ARB Inc., COLISA, CULTEX and ODIN Mining International Inc. He has a post-graduate degree in Sustainable Development of Minerals from the Japan International Cooperation Agency, and currently he is member of the advisory board of several mining companies wishing to enter into the Ecuadorian market.
Duncan Bain is a Director of several junior mineral exploration companies. He has been in the exploration and mining industry since he was an undergraduate student in 1975. He has run an exploration consulting firm since 1986 whose work has included supervision of grassroots to advanced stage programs which have included airborne and ground geophysics, mapping, geochemical sampling, trenching and drilling, and has worked in both underground and open pit operations. He has reviewed numerous gold, silver, base metals and diamond properties in a wide range of geological environments, both in Canada and internationally, in the southwestern U.S., Mexico, Ecuador, Peru, Colombia, Portugal, Saudi Arabia, China and Papua/New Guinea. Mr. Bain has written numerous technical reports required for securities filings by Canadian and U.S. securities commissions. Mr. Bain has served as an advisor previous to this appointment and he had previously accepted a position in April but has not been available until now.
Jaime S. Gomez, CEO and President of Quri Resources, Inc., stated, "We welcome Mr. Bain and Mr. Veloz to our growing team. They have worked with us in the past, as independent consultants (in their respective fields of expertise), and having them accept positions on our Board of Directors, as independent directors, validates Quri Resources as a growing company with major potential. I look forward to working with them."
Quri Resources Inc. Acquires La Conquista
QUITO, ECUADOR, Jun 29, 2009 (MARKETWIRE via COMTEX) -- Quri Resources, Inc. (PINKSHEETS: QURI) is pleased to announce that it has acquired the Conquista project in South America.
Quri Resources, Inc. announces today that it has acquired 100% interest in the Conquista Gold mines, (990 hectares). This property is located 150 kilometers northwest of Quito. Conquista has 2 working mines, the Santa Teresa and Palanzuro. Free gold can be observed and concentrations of up to 10 grams per ton are present. Past production in addition to continued sampling have shown probable gold deposits exceeding management's original expectations. It is the intention of the company to begin production within 3 months.
Eduardo Munoz, VP of Quri Resources, Inc. stated, "We have been on site for 5 months studying the property, today our plans materialized. It gives me great pleasure to see the company moving towards growth and success. We are slowly transforming from a junior exploration company to a gold producing company. Ecuador is moving closer to becoming one of the important mining sectors in the Americas and we want to grow along with the country. Kinross just finished its acquisition of Aurelian; Dynasty Minerals, Corriente, Nortec Ventures, International Minerals Corp, just to name a few are among some of the majors also positioned in Ecuador, we are amongst good company. Everyone should expect to hear more exciting news in the near future." Mr. Munoz also stated, "We should be able to go into production with La Conquista in the next 3 months starting production at approximately 4kilos of gold per month and at today's gold prices we are looking at a revenue stream of $100,000 per month. We should be able to increase our production to 10kilos of gold per month 6 months after we begin operations, bringing our revenues up over $280,000 per month. This would certainly enhance our cash position allowing us to continue our intensive exploration of the area. Needless to say, we're ecstatic with the course we've taken today."
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