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The last 4 paragraphs of
your post(63055) are in EVERY CGFI 10Q. They change a few dates/numbers. 5 minutes of work. Pinky101.
and the remaining paragraphs are adjusted as needed in EVERY 10Q. Mostly filler in every pinky scam.
Here, you can read them for the Thousandth time. Better still, buy a copy machine:
These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets, or the amounts or classification of liabilities that may result from the possible inability of the Company to continue as a going concern. Management’s plans with regards to these conditions are described below.
The Company continues to explore sources of additional financing to satisfy its current operating requirements. During the fiscal year ended August 31, 2012 and through November 30, 2012, the Company entered into funding arrangements with an institutional investor (the “Delaware Partnership Investor”), under which the Delaware Partnership Investor has provided convertible debt financing to the Company of $429,000, ($52,000 during the three months ended November 30, 2012) (Note 7).
During the fiscal year ended August 31, 2012 and through November 30, 2012, the Company also entered into three funding arrangements for a total of $153,000 ($53,000 during the three months ended November 30, 2012), with a group of New York private investors in the form of convertible notes (Note 7).
Considering the difficult U.S. and global economic conditions, along with the substantial stability problems in the capital and credit markets, there is a significant possibility that the Company will be unable to obtain financing to continue its operations.
Thank you for posting the
same story that has appeared in EVERY 10q for years.
That aside, Wally Erickson will be more than happy to tell you that this company is in no hurry to do anything. The Mill could easily have been permitted and running in 2010 if CGFI was truly interested in doing so.
CGFI management is much happier taking investers money and spending it. "Adding Shareholder value", so to speak.
Unfortunately, shareholders added value Never shows up in the Share Price.
But, Steve Fearn does well. $3,000,000 for an Unpermitted mine property he bought for $20,000?
Shareholders really made out on that deal.
This thing is only 13 clicks away from the next Reverse Split.
And I just told you why.
If YOU have the time,
call 970-247-5469. Ask for Wally.
Ask him about that "permit" youre so excited with.
Make sure your sitting down.
And youre right. The Punchbowl's in Lakewood Colorado.
Oh, so they rent the Mill in 2008
and sit around a couple years while suckers pay the freight?
Funny, never saw any of that mentioned in a "10Q".
When you get that free moment, dont forget to call Wally?
btw, yur buddy guyer's dumped another million shares at 33-34 today. About a third of days volume, so far.
and Lunch isnt even over.
lol
Let's try it again, 567tbd. Have you called Wally yet?
I'll even give you the Number: 970-247-5469
You say youve talked to Wally? It seems youre not asking him the right question. I already told you his answer.
So, why dont you call him back and ask " Whats a reasonable timeframe to get a Mill like POW Permitted and Running"?
He'll tell you "2 years. Tops".
Come on TBD, you can do it.
and let us all know.
Have to admit it was
chump change day. Got 620,000 spread 44's to 35.
Expect big dilution next few weeks.
Dont forget to average down!
Whatever you guys do,
dont forget to keep averaging down.
and keep hoping.
rofl
"scams don't put up a Half a Million Dollars in bonding with the State Regulatory agency"
Wanta bet!
What better way for a junior exploration mining company to raise monies from investers! In this case MILLIONS!
In my DD I spoke to someone at the "State regulatory agency".
Care to guess what they said?
It doesnt take 9 years to Permit a viably productive Mine in Colorado. Unless of course its flooded or contaminated, that would be very problematic. But who would do that?
And it doesnt take 6 years to permit a viably productive Mill in Colorado. Unless of course you can make easier money printing and selling shares to those who dont know any better.
So you see, scam pinkies have no problem putting up plenty of bonding dimes. It's not their dimes. And they live very well off the leftovers.
Got any more dynomite?
Its kinda funny how you see the
same words used repeatedly in the pinkies.The old "forward thinking statement" routine. It's like everyone uses the same playbook.
Words like "Preliminary". translates to "we sorta looked at this".
and "Potential". translates to "something could happen".
Then theres the usual "Possibility" and "approach" and "Expectation" and "amendment" and "projection".
Like a language all to itself.
It's a beautiful thing cuz nothing ever comes of it.
lol
Those "preliminary NI 43-101s" must be worth
their weight in Gold!
and I'll bet that 30 bucks really kicked things off!
rofl
You are absolutely right.
I love taking advantage of it!
10q's due out in a week/10 days.
Probably was wrapped up a week/10 days ago.
You must know how the Markets work. Especially if you trade pinkies. As we all know, inside information is illegal to trade on. But, as you should know, it happens all the time, especially in the pinkies. In some ways,it's the lifeblood of modern market capitalism.
So tltq, truth is CGFI bid trades are still on a regular downtrend. And the share price continues to fall.
When 10q is finally published, you'll only be finding out late what some people have already known.
and that's not "good news".
About 40 million in last 7 months.
With current subpenny prices,daily volumes will increase accordingly. Wouldnt surprise me to do 10-20 million over next 30 days. The dilution is enormous.
CGFI has printed and sold
over 35 billion shares in the last 9 years. It has easily taken in 20-30 million dollars of invester money.
If you can find any of that money, let me know.
And this company is beyond risky. From all outward appearances it is a stock selling Ponzi scheme. Monies going to insiders or affiliates.
It will be subpenny again after the upcoming 10q.
Dont say nobody told you.
I wouldnt be so quick to
say theres only one difference.
Quote, "(i.e. get the mill opened ASAP then focus on opening the mines)".
You're aware CGFI is 9 years old?
Took 6 years to land on the Moon.
From scratch!
That was a lucid, well thought out
response. I respect that.
BUT,(ever notice how the most important part of any statement always comes after the word'but'),
your analysis is not accurate.
If I was trying to drive the pps down, I wouldnt tell you what I do and how I make some of my living. That would make no sense.
Inherently, what goes on in this room means nothing to CGFI company or the price of shares. I have no need for members money. The Market is a huge entity. Worldwide. When I say what I say it is only to enlighten the few I hope have enuff sense to lick their wounds and move on.
This company has the worst track record I've ever seen. There may be worse, but I've yet to see it.
They latched onto a defunct Mill in 2008. Since then and today it's been used as a Carrot to drain invester dollars. Millions of invester dollars have simply vanished over the last 9 years. Of course its always accounted for in 10q/k's. But never any added value to the company.
Always try to remember that the price of stock only reflects Company value. This company has no value and it will always reflect in the price. No matter how many Reverse Splits they do. It's an insult to the word'management' to use it when referring to this company.
This is a NINE year old company thats never earned a living. Anyone telling you they need to raise money is telling you the truth. But the Company will never see it.
And neither will you.
This is what I find remarkable in
all this.
You say "Nothing has changed in the last 30 days except a few million more shares".
You could've said the same thing 9 YEARS AGO! This is no closer to being successful or producing income or Mining or Milling than it was 9 YEARS AGO!
Dont believe me. Call the DRMS! 970-247-5469
Then you say "Let's all just be patient until the next 10Q comes out".
And what possible difference would that make?
Except for suckering in newbies, it hasnt made one bit of difference in the last 9 YEARS!
I went back thru the books to see if this company was real or not. Took me 15 minutes. There's nothing there!
I dont understand how you find the people who listen to this jibberish.
That's one way of saying it.
Another way of saying it is
"there hasnt been ANY news from the company".
You're a funny guy.
LOL
No Bio, after the september Reverse
Split it was 5.6 million O/S.
and you havent seen anyhting yet. Guyer already dumped 1.1 million below bid today. and it's only 1 oclock.
Made some good wheat on that 52 to 37 run.
once its in 002's again it'll tank fast with good daily volumes.
This things easier to read all the time.
O/S is over 125 million. Selling
stock is what they do. It's the only thing they do.
This things tanking faster than I expected. Volumes picking up as dilution accelerates $.003's on deck already. My boards lighting like a Xmas Tree!
Trip 000's hitting soon. YeeHaw!!!!
Maybe that's it. I been around
a little longer(6 months). In 5 months you'll see what I already know. No harm.
But it does explain a question Ive had. You dont seem to take account that CGFI is 9 years old. You make comment of the things they dont do,but neglect that theyve had 9 YEARS to do it!
That's the benchmark of every pinky scam that ever was.
They cant add more than the scam allows. Otherwise it falls apart.
"The most successful scams hide Weakness."
Bernie Madoff
Lot easier to do what I
did. Go to the head of the class.
Call Wally Erickson direct: 970-247-5469
If he's out and about, ask for
Kate Pickford or Bob Oswald.
Seems like the whole Division knows about this Gem.
LOL
Morning sem. and morning all! Need
some large volume dumps today. $.004 on the bid.
Cmon carl,convert that debt!
Give us some Big Blocks!
Im new here. You sound like
someone who knows whats happening. You were talking about the Mill permit.
You said "I hope it is FULLY conditional very soon".
What exactly is a "Fully conditional" permit?
Is that a good thing?
You could have your
uncle Ben in Silverton and it wouldnt change a thing. And Im sure you must know Guyer rents that house. Makes for quicker moves. just some dd for you.
Like I said, been around 6 months. Never heard of this thing before that. Didnt take me long to see the foibles with it. Not unlike many pinkscams Ive seen before. Sell plenty of stock, tell lots of stories, keep moving targets and deadlines,and never let them see you sweat. This one has also used weather excuses very effectively over the years.
But it's a nice little racket for the few who benefit.
Dont be surprised when you and others here are talking similar stuff next spring.
Thats the point.
Quote: "mining exploration-stage company engaged in the acquisition and exploration of mineral properties, primarily for gold, silver, zinc, copper and lead, and the milling and processing of ore from both owned and non-owned mining properties".
Aquiring Mines with no Permits is not "Exploration".
Mortgaging an Unpermited inoperative rundown Mill from the guy sitting next to you is not "Milling".
Add to that 9 years and millions of invester dollars in the history books.
and That's what triggers investigations. Jack.
Its unfair to try an offload
excuses onto short sellers. CGFI management has thrown Billions of shares into the marketplace with nothing to back it up. Furthermore,the monies derived from those stock sales have never been utilized to add value to CGFI.
A stock price rises in accordance with increased company value.
Conversely, it decreases when there is no value.
This company appears to have always been in the business of telling stories and deriving revenue thru stock sales.
And very little if anything else.
One of the Biggest problems CGFI
has is in its own history. 9 years, 35,000,000,000+ shares sold, a Reverse stock split, and they hardly "OWN" anything of significance. They Lease/Option/Mortgage/Rent virtually everything they claim as an asset. And when they enter into aquisitional agreements, its nominally with someone already associated to CGFI.
When you have a 9 year old company that has taken in Millions upon Millions of invester dollars yet never earned income or revenue,and has almost nothing to show for it except negative balance sheets and forward thinking statements, something is Seriously out of whack.
I can totally understand why this company would be investigated by legal authorities. It would be criminally negligent not to.
Investers need all the protection they can get in the pinksheets.
After Septembers Reverse Split,
O/S was 6 million. Todays O/S is 124 million(appx).
So, Guyer has dumped 118 million shares into market since september.
Also,as far as guyers personal shares, you can only see what you find. And youre not finding it all.
Also, for some unknown reason, guyers been laying off the big dilution lately. Difficult to short on small volume days. As soon as he gets back to dumping millions per day, we'll be shorting the krap out of it again. Its simple for anyone to see: when you have a company producing nothing with an owner increasing O/S by millions of shares, pps can only go down.
Like taking candy from a baby.
flicker, youre talking about sales of his personal shares that he granted to himself in return for all his hard work and extreme effort.
Thats not what Im talking about. and btw, Form 4's dont cover all sales. Do some studies on "Convertible Debt" when you have some time.
But I digress,
Im talking about the ever growing 124,000,000 O/S unloaded into the market since September. Shares that lucky people like yourself continue patiently to await the enormous benefit of.
Sorry for the confusion.
You'll see 000's as
guyer starts dumping again. Or as some here like to call it "convertible Debt". Share volumes been low lately. he's probly on vacation. he's dumped over 100 million shares in the last 6 months. he just needs to get his mojo back.
The real question remaining is are there enuff suckers left to continue supporting the charade. Once the sucker money's gone, its all over. Im sure he can come up with more stories.Doesnt CGFI need a new Cadillac or a Sailboat? But at some point the sucker pool dries up. He's burned all retail investers over the last 6 years Insiders have made out very well and want it to last as long as possible. But over the years it's become more apparent this dog has fleas.
and speaking of fleas, anybody hear any more about
"April, 2013: Construction of tailings repository"?
well, my advice is
Dont hold your breath.
Your missing the point. Restrictions can
be lifted as easy as they are placed. Eg: distribute and file shares with 4 year restriction. Then change to 6 months simply by re-filing. Its that simple.
The Pinksheet market is Very popular with scam artists and fraudsters for reasons such as that. Manipulation is rampant.
And RETAIL investers are always the victim.
In fact, expect another Employee Compensation announcement.
If that doesnt tell you where the priorities are, nothing will.
These guys make my job too easy.
If your talking about
invester groups (like Magna) who double their money in days by getting shares off market, at heavy discount, YES! They are absolutely insiders becuz theyre Certainly not Retail Investers!
But why argue?
Lets just call it 'Convertible Debt'. And we all know the benefit investers get from that, dont we.
Its surprising how little some people
seem to know about pinksheet companies.
'Restricted Shares' is a perfect example. Its a term that means very little in the pinkies.
And its no different here.
First: all restricted shares in this company were given to insiders.
Second: restrictions can be removed at any time by the insiders who have them.
Third: Pinksheet companies are notorious for playing games that place investers at the end of the benefit line.
The people running this company have read the playbook from cover to cover. And have been playing it for Years.
That March thing was only another
date that comes and goes. Like all the others. Most info originates from someone on the board. Someone takes a snippet from past 10q's and translates it as something is coming. For insiders, its 'Plausible Deniability". They never said it.
As far as doing anything different, where to start?
They get a DRMS go-ahead on Mill workings,then go out and lease Uranium Property. With invester money, of course.
Then Rice does an in-house NI-blahblah touting plenty of reserves and throws it in a PR. Which means absolutely nothing to anyone.
And the DTC chill's been around 4 years and never been addressed.
See, none of that really matters. When they want money, they sell shares. PPS doesnt matter. Its all found money and they print shares whenever they want. Shareholders are Bagholders in PinkyLand.
Im waiting for "April, 2013: Construction of tailings repository" to mysteriously disappear from the website. And you can rest assured April will come and go.
Didnt know this thing even existed until
gotta pennypump newsletter in September. Took about 10 minutes to find it just another pinkysc#m. But, credit where credits due, it's going on 10 years and theyre still living off investers money. In a perverse way,that can be admired.
Is this reply acceptable?
Lets take the last first.
and it shouldnt take pages to answer.
3) CGFI share price in constant decline since company's inception. $.66 ran down to $.0001 in 2012 ---- followed by 5000:1 Reverse Split bringing share price to $.50 ---- current share price now $.005.
Those are facts. So, what value does Norman Singer,or anyone else in CGFI management, bring to the table?
You incessintly pound they should be remunerated for their service. I say "what service"?
2)As in the past, expect A/S increase into multi Billions. and A/S converted to O/S in short order.Always watching out for that 'Hostile Takeover'. and btw, theyre overdue for the next 'employee compensation plan". Been 7 within the last 3 years. They keep up on that.
1)I explained the answer to your question 2 months ago. Unfortunately it's no longer available. I dont have time to do it again. making too much money. sorry.
It appears it would be best we
agree to disagree.
Quote: "My question was not whether one would judge management performance solely by PPS dropping, but what areas did they fail on, or conversely what would you have them do differently?"
Why not just ask to re-write the Bible in crayon?
Are you aware this company dates to 2004?
Would be much easier to show successes becuz you'd be hardpressed to find 1(one).
Oh, and have you come up with ANYTHING on Norm's contributions to CGFI yet? ANYTHING at all?
You would be approaching a project
backwords if you paid people without knowing their responsibilities. You cant judge someones work quality unless you can find it. How can you pay/defend someone who, for all outward appearances, performs no service. Cant find what he does for CGFI, he's probably not doing anything(and if he is doing something for CGFI, it isnt working). But,you wanta pay the invisible man, thats your perogative. And hey, you find a CGFI accomplishment with Norm's name on it, I'll take it all back. Dont tell me he 'consults' and 'admins' for ACME Engineering or Podunk Electric. Show me something(anything)with 'CGFI' in it.
and Good Luck with that.
regarding R/S:
pps result to date speaks for itself.
Uranium Claims: If they have to lease unproductive Uranium property along with the already unproductive precious metal mining property to keep 'News Flowing', they have a huge problem.
200 to 250 million shares: Your very optimistic. Guyer has already dumped 35 Billion shares. And theres Billions more where that came from. In the pinksheet world its called 'Outhouse Wallpaper'.
You do know this is the pinksheets?