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Having been here a long time, it has already been done. Bill Martucci reversed it in the early 2000s and then you saw the endless re-issue of shares.
I think you are right and it will be done all over again.
Did a little cut and paste for you on some of my older comments and what the company said. Here was my comments in October:
I might point out that this sale has occured in the fourth quarter, i.e. October. The 2010 10k/financial has yet to be posted. Your best hopes of confirmation on this announcement via financial reporting won't come until April 2012 at best or possibly the end of the 13th Mayan B'ak'tun in December 2012 at worst.
Well said. Spoke to Steve Nichols the other day who was nice enough to give me his phone number. Nothing new based upon my conversation with him. Hopes of becoming compliant financially and things are better than they seem according to him.
Right now, we can not buy or sell, because the company is non-compliant. If they plan to move forward, update the website, have a working telephone in English, whether here or Bolivia (Same time zone as EST). I am happy they consolidated their overhead, every company has done so, but communications with investors (who have invested millions) should never be sacrificed.
I will waite, have no choice at this point. Mr. Nichols is still involved with the Company per our conversation, just remotely. His involvement began in 2004. He was nice when I met him and is probably as frustrated as we are.
My first involvement with this company was in the late 90s. Wow.
That is one of the best finds about this company to date. Billy the imagination machine (or was it the portly Jaime Melgarejo regime) couldn't waite to press release his name and future financing.
Nice find. A good laugh and cry down memory lane before bed.
I requested the paperwork for the gold bars so I could hold my spot price like they said they would do. Still waiting on the paperwork.
The paperwork would be quite valuable to have right now if the spot price was still held when they pumped out that email.
Maybe not for you, since you are new, but it has been longer than ten years. William Martucci to Jaime Megarejo, Dr Biste's certification, Bill Petty, etc. The names have only changed. The dream and effort may be or have been there for all of them, but the results have always been the same.
I hope this stock does miraculously. It never will and we all have a write-off.
What does this have to do with this company. They have never mined, milled or sold any gold.
Some of you may remember when they offerd bars of gold for sale if you got your order in.
Well said. I have actually been to the former office. And I do remember the sales of products to the Asians that they posted among other seemingly statements of fact that turned out to not be facts at all.
Thank you for posting that and thanks to the reporter who provided more relevant information than the company ever has on its own.
Same old same old
New letter out. I guess somebody was paying attention to my complaints.
It's still a lousy way to conduct busines. There is a new telephone number. Good luck getting through.
Some positive news, some negative. They are downsizing their management office, which is good, but demeonstrates a lack of cash flow.
Management needs to learn that nobody gives a rats ass about how difficult the last few months have been. The last few months have been difficult for the last few years for this company. Stick to one project and finish the job, then move on to the next. All the shareholders here have been left pissing in the wind for the last decade.
Looks like Mr. Nichols will be moving to Vegas.
Good luck. You can buy, but never sell. The company is non-compliant. The 2010 10K is not finished. During 2010 they did not have any sales of product income, but they did have some income from leasing as I understand it.
Their first sale of any substantial product did not occur until April. Thus, they missed the first quarter as well. Unfortunately, they are of the opinion that it would be better to be non-compliant and waiting till the second quarter financial information is completed so as not to disappoint the stockholders with financial information that does not have revenues. Not sure I agree with this.
On another note, their last memo spoke of how they will be having a better line of communication and more frequent targeted news pieces (heard that story for years). June 29th was the last communication.
Additionally, I had the telephone number to the office, which when I spoke to Steve Nichols in May/June he said he would not answer, but would call me back once he saw my telephone number. Of course this number is now no longer an opperating number so I was misled again for the twentieth time.
Just keep in mind that our CEO is a seventy something idea guy with no ability to implement and complete a project.
If you plan on buying assume you are losing your money.
Other than this is the fifth eight months time estimate for the last five years.
I think you can call Old Monmouth and they will tell you an approximate float currently.
I have 120,000,000 shares and have been through it all. However, this latest information and based upon my discussions with management, I have a little hope. However, I have considered this a total loss for years now.
Make your own choices and consider this stock nothing more than a day at the racetrack.
You've been suckered.
By the way, there are some new pictures of mining and locals on their website.
Fizzleout
It is my belief that they have mined and sold some product, but that it did not happen until after the march quarter, i.e. April. Therefore, instead of putting forth the disappointing 10-K report for 2010, it will be filed simultaneously with the six month statment, which will show some revenues.
on their website
A june newsletter is posted.
Don't worry. They keep updating the photo section with more pictures of Bill and the natives.
How bout a picture of a rock being sold or some mining?
I haven't seen any new financials. Basing my info on conversations
No fourth quarter sale of product revenues as I have said based upon my Sears crystal ball.
The problem is the company is operated by Bill Petty who is a personable deal maker with absolutely zero ability to follow through and get things done. The company needs somebody to make things work not just make deals.
That has been its problems for the last decade. From what I have discussed with Steve myself nothing has changed.
They are nice and friendly gents though.
I like Bill's horse desk, if that was still there when you were there.
Website up
I was just happy to find out that they still rent space on Vantage Drive.
please
Well I spoke with Steve Nichols today. They are still in operation and actively pursuing mining interests in Bolivia.
Similar issues as in the past. I'm not discussing it all with everybody here. He did say they are only posting news as things happen unlike in the past. He said the website should be up today, but being in business myself, I know how long these things take. It will be up next week if not by the end of today.
I was happy to speak to him again after two years.
A poster with infanately more knowledge and personal face to face time with owners and others than all the moderators currently have combined.
If you don't like what I say, that is fine. If you don't believe what I say that is fine. But what I have said is accurate and facts based upon meetings with company personel past and present, including Jaimie, Steve N. and Andrew Austin.
Good luck, I hope it turns out well for all of us. I own 120,000,000 shares. I hope it goes up. Not getting my hopes up.
Petyy just found a new foolish buyer for all his shares. that is all
When the financials come out. "Deal fell through." No sales of products. No financing from the Warburgs or Rothchilds. Nothing.
My guess is Petty is A.D.D. He is probably an honest man, but can not accomplish anything because he can't focus on one thing and complete any task.
To date, nothing has been followed through or completed. Nothing.
There is nothing to hope for here other than a tax loss.
Sounds good Iman. I'm just preparing to prepare a plan of typical disappointment.
I'm currently filling out my order form to direct buy the already mined gold right from Bolivia. Remember when Billy offered that one. I called and that telephone line actually worked unlike the corporate office or investor relations doesn't do now.
There is nothing new and the fourth quarter will reveal that the sale of minerals fell through as usual and financing fell through as well.
Good luck to all. Don't get your hopes up.
Here is the warning on Pinksheets for all you happy investors:
Insider Trading Warning
This company may not be making material information publicly available.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
What is insider trading?
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.
Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if that person is "aware" of the material nonpublic information at the time of the purchase or sale.
Affiliates, insiders, relatives, or other persons in possession of material information should use extreme caution when buying or selling securities on the basis of material information, particularly in securities where the company is not making adequate current information publicly available as a matter of practice.
Why does OTC Markets display this warning?
Companies that are identified on otcmarkets.com as having “No Information” may be placing their shareholders at risk of violating 10b5-1 insider trading rules. OTC Markets recommends that investors wishing to place a trade in such securities contact the company to verify it is making adequate current information publicly available.
How can a company make material information publicly available?
Companies can make material information publicly available by registering a class of their securities and making current reports with the SEC.
Companies can make material information publicly available by qualifying under Rule 12g3-2(b) under the Exchange Act (“Rule 12g3-2(b)”).
For companies that are not subject to SEC reporting requirements under 12(g) or 12(b) of the Act, OTC Markets provides the Alternative Reporting Standard to facilitate the availability of adequate current information.
Companies that post such information through the OTC Disclosure & News Service are able to conveniently and efficiently make their information publicly available on their quote page on www.otcmarkets.com.
The Alternative Reporting Standard is designed for companies to meet the minimum disclosure requirements under SEC Rules 15c211 and 144(b) and assist companies in protecting their affiliates from 10b5-1 violations. Companies are urged to seek the advice of experienced securities counsel regarding materiality and methods to make material information publicly available.
For more information about the Alternative Reporting Standard, please visit our Alternative Reporting Standard page.
Note: Companies may choose to provide current information on their corporate websites. OTC Markets encourages affiliates, employees, insiders, or any person in possession of nonpublic material information about a company to examine the company's corporate website for current information, if they are not able to find it through otcmarkets.com or in current reports filed with the SEC, to ensure compliance with Rules 10b-5 and 10b5-1. However, the warning message on the company's quote page on otcmarkets.com will continue to be displayed. To remove this warning message, the company must meet one of the three standards listed above.
For an overview of insider trading, visit the SEC’s website at sec.gov/answers/insider.htm.
Just a heads up. There will be no fourth quarter sales. The company will be coming out with some reason why this did not happen.
This is why there is a delay. This company has never mined anything in Bolivia and it never will. 12 years and counting.
NOTIFICATION OF LATE FILING
Name of the Issuer: _____________________________________________
Check One: Annual Report Quarterly Report Interim Report
For Period Ended: ______________________
Address of Principal Executive Office (Street and Number):
State below in reasonable detail why the Annual/Quarterly Report, could not be filed within the prescribed time period.
Anticipated Filing Date: ____________
[Please be informed that the filing of this notification grants issuers 5 additional calendar days to post a Quarterly or Interim Report and 15 calendar days to post an Annual Report.]
Person to contact in regard to this notification:
Date: ____________________________
Signature: ________________________
Name: ___________________________
Title: ____________________________
Expected filing date April 15th. Not suprised. Sorry for bad cut and paste
Look at the companys. They are all meaningless shells. Nothing of substance, nobody has a track record of production. They are all on their first projects and are "Developement Stage" businesses shuffling worthless pieces of paper back and forth from the printing press, something like the Federal Reserve does.
As the overused term of the last year, they are ponzi scams trading worthless paper trying to attract the next dope in the 1970's style pyramid scam. Just don't be the last one in.
Twelve years long and still a bag holder. My own fault, nobody else.
Petty has got to be 70 something, if he has chips I imagine he wants to cash out soon. That and only that will make this go up.
Look at their website under projects. There is a grand total of one. I will give you a guess..
Andrew Austin is the President of Kalahari. Don't get too excited. At least the company has been around since 06.
Good to here from you again, my namesake.
Any public entity other than Fannie Mae and Freddie Mac. Oh that's right they had nothing to do with that.
Nothing really new. Read for yourself if you like:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=41926
It's alive, but on life support. I didn't read that piece so enthusiastic