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there it is going for a little hop. This is going to be a reset restart pumper. give it time for accumulation and they will have there gold mine to pump
Really thought this was going be a good one. Well I'm in it for the long haul at this point. Hope they find A way to "work it all out".
they will pump this again in time the 8 said new property is a gold mine lol nice. Once a pumper always a pumper they got alot of cash out of the last one all they need to do is do it again under the new property.
there it is
Form 8-K for SWINGPLANE VENTURES, INC.
21-Jun-2013
Termination of a Material Definitive Agreement, Change in Directors or
Item 2.01 Termination of a Material Definitive Agreement
On May 27, 2013, Swingplane Ventures, Inc. (the "Company") negotiated an extension on the notice of Default that was filed pursuant to an Option Agreement and amendments thereto with it's wholly owned subsidiary, Mid Americas Corp. Under the terms of the extension agreement, the Company was required to pay approximately $55,000 in property maintenance fees on or before June 15, 2013. Under the extenstion agreement the Optionors agreed to evaluate Swingplane's proposal to renegotiate the existing Option Agreements and the amendements thereto at such time as the Optionees, in attendance with potential joint venture partners, attend at the property on or about June 7, 2013.
Mid Americas Corp. paid the funds in trust to its Chilean legal counsel on June 5, 2013 to pay the property taxes to be paid prior to June 15, 2013, subject to the renegotiation.
On June 7, 2013, management and the potential joint venture partner met with the Optionors and spent two days undertaking a property visit.
At the end of the property visit, the potential joint venture partner proposed to Mid Americas Corp. and the Optionors a joint venture whereby they would undertake a joint venture to earn 65% of the project by way of funding the property, in phases as warranted, through to a feasibility study. They proposed to undertake mapping, sampling and drilling programs to determine if a mine plan could be executed. They further proposed that upon determination to proceed to construction of a mine, they would fund construction and would carry the Optionor and Mid Americas Corp. to be repaid from production. The exploration program proposed was estimated to be a four year program.
During the exploration program, the Optionors and Mid Americas Corp. could continue small mining production on the property to generate revenues. The Company proposed to raise the funds for a small miner exploitation plan, which would require some additional sampling and some minor drilling of the property to be able to provide some resource estimates to the Company's potential funders. The Company further asked the Optionor to provide the amount of funding that would allow for continuing operations to allow for the Optionor to keep the project ongoing until the Company could raise the required additional funding.
The Optionors requested payment of $500,000 by July 1, 2013 in order to enter into a renegotiated agreement. Mid Americas Corp. had no ability to raise the $500,000 by July 1, 2013 and the joint venture partner advised they would not pay any up front funds, other than property tax payments and any payments required to keep the property in good standing, to the Optionors.
Therefore, the Company determined that it would not be advisable to pay the property tax payment on June 15, 2013 as it would not be able to raise the required $500,000 by that date. On June 15, 2013, when the property tax payment was not paid, the Company had breeched the payment as required for the extension of the option and therefore, unless the Company can get the Optionors to reconsider their position, Mid Americas Corp. and the Company have no further rights or interest in or to the Algarobbo property.
Management has advised the Optionors that should they wish to reconsider their position in regard to the requirement for $500,000 by July 1, 2013, the Company would make every effort to negotiate a new agreement on terms it believes it could meet as the Company believes that the Algarobbo project is of sufficient merit to warrant making every effort to maintain an interest in the project. As at the time of this filing, the Optionors have not indicated to management there is any interest in continuing negotiations. Management intends to undertake one further attempt to contact the Optionors in an effort to get them to reconsider, however, there can be no assurance that they will be successful or if they can get the Optionors to reconsider that they will be able to present any offer that may be acceptable to the Optionors.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers:
On June 13, 2013, Mr. Johannes Lindorfer tendered his resignation as a director of the Company.
Mr. Lindorfer did not resign as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.
Item 8.01 - Other Events
Management has determined to continue in the mining industry due to the associations it has made with potential funding sources and experienced mining contacts, such as the potential joint venture partner. The Company has spoken with the consulting geologist to the joint venture partner in regard to other projects whereby the Company might participate as the Company has determined to remain in the mining industry. One such project has been identified and the technical information has been requested. This project is believed to be further developed than the Algarobbo property as it has a resource identified and estimated. As we currently understand the project, it will require funds for exploitation and does not require any exploration funding. Exploitation funds are much more easily raised in this current financing environment. Technical data has been requested and once received will be reviewed and at that time an agreement would be negotiated subject to a property visit. It is believed that the main cost items will be dewatering and plant maintenance to get the project operational. The project is a gold property in Mexico which would make it much more accessible to current management and less costly in regard to operations.
This stock is done. The only reason it's green is shorts trying to get in before it crashes below a penny. Read the new 8k. They have no property to mine. If your still buying then your crazy. GLTY
just think if there were t be good news were this thing would go. It has the history and back story for another good pump if you ask me.
didnt i see a volume of over a million a couple days ago?
i show it up a little this morning so far well see if their may be something working takes time to get these things worked out. i am hoping if not you are correct .00000001 to come
looks like we are done for. no news at all this close to the dead line. not good. if any of the meetings or reports where good there should be something out. looks like it is headed below a penny.
didnt yesterday finish with over a mill in volume
I got in at the same price then the bottom fell out. I have learned from SWVI a valuable lession in stocks being my first purchase. If your going to play penny stocks you have be able to watch the computer and get in while its going up and sell while its still going up set a goal of profit and get out. IF its still going up you can get back in on profits.
Started buying in at .68 then the bottom dropped out. Since then I purchased more at .03 to .06 I have 168,000 shares now with an average cost of .28 hope to recover at least what is invested.
better for a loss now no matter how much than to lose it all.
This is frustrating. I can't believe there is nothing they can release. I will ride to the bottom.
tell me about it need the news soon
getting ready to bail on this one myself. getting to close to the deadline for the lease. if anything at all came out of the meetings then they need to put something out to put some confidence back into the investors. other than that i believe we will just continue to go down in price like yesterday. and for those of us that have a large position even slightly going down is a big loss.
maybe there could be a dip for some others to get in before a release of news that was good or its just selling down and going away
It does not appear anything is coming anytime soon.
If you add a trend-line, we were on an upward slope prior to APS and the lawsuit.
hope for news today that would be nice, even if bad at least i'd have the weekend to cry lol
good new is what we need alittle could go a long way
Good news should be coming out soon. There wouldn't be interest in two joint ventures if there were bad news coming out on this property.
I can live with that but am growing tired
I'd expect a quiet week with news next week
I hope for good news prior to Friday.
Ouch. Lets cross those fingers and hope this is all legit
I got it at the peek @.68 my first stock purchase lol lets say didnt go well with significant other lol. Have made some better since then been doing DD. in KNDI for good profit now
true some of the statements sounded like that was coming and the search for another investor was on before the default. I hope the results of the study done were good that would set things in the right direction
I got in around the same time, @0.28
It sounds like MidAmerica is out by default, so if we can't find someone else to pay the bills by July 1 I think we lose everything
ok seen it. I'v been with swvi since the pump early feb time frame. Still in one new to trading and missed the dump two i like mine stocks.
The article is under news, dated 5/14/2013.
The guy that's trying to sue APS. We were holding 0.05-0.06 pretty strong until his bad PR.
im new to this but i'v seen that name before who is that. Any opinion on the investor.
IMO, I don't think it's going to take much to get this rolling again, just the right news. (and keeping away the bad PR, such as George Sharp)
y yes it is hope it can pay off
Patience is a virtue friend.
The post is about the stock not having activity. I would like some news on the plan to go forward with the company. I would like to see a move in the volume or the price so I can decide if it’s going anywhere
Once again, what does that mean? If you must type something, make it legible please.
were is the news starting to think this stock is dead
The last 2 or 3 posts on here I can't even understand what the heck you guys are saying. Do you ever proof read? Try that...
Buy now, SWVI cans take lower.kakaka
find an investor that would be great im still holding since the big run up have a personnel like for mine comp.
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