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Agreed!
Didn't SIRG have to file a Correction due to not having an official meeting last time, or did I misunderstand what took place?
Did you check out the stock option portion? There is a LOT of incentive for the CEO to get this mine into production!!!
We will not hold a meeting of our stockholders to consider
or vote upon the foregoing actions as described in this Information Statement.
Your vote is not required to approve any of these actions,
Many of these companies are registered in FL. That is quite common. I think it's likely due to some sort of tax break.
The spread is getting smaller, 0.0105 / 0.011, and that is a good sign IMO.
What is the timeline on the permits, and what all permits does SIRG still need to acquire?
I read the post you were responding to. WSRA and GDSM are merely working together for their JV. I also don't think either of the companies mentioned are a piece of crap. IMO both of these companies are progressing quite nicely!!!
I like both WSRA and GDSM, still deciding on which one I should jump into, if I do.
Ooh... He owns more shares now? How did you find that out? It is always good to see the CEO has faith in the company.
I think he will get GDSM back to current this week. I can't wait to see what happens with the merger and how the financing of the JV is progressing.
Agreed!
I certainly didn't see that WSRA is considering a merger. You must be talking about a different company. Lol...
It seems like WSRA has quite a bit in the works. Hopefully, the azurite claim will be up and running soon.
You can certainly tell that a professional accounting firm like Marcum completed this 10-Q/A. The formatting and details provided are excellent!
I'm fairly sure the market is open on Monday, but the banks and the bonds market is closed from what I have read.
It's nice to see that they're making progress!
GDSM is setting up for a huge run IMO!!!
If the proper paperwork wasn't filed to either remove the "E" or for an extension, they would be in the pinks right now. They are still listed as OTCQB; so, they obviously took some action to correct the problem before they were downgraded!
GDSM is looking nice and GREEN today!!!
SIRGE may have paid off that note, but they also took out an even larger note with Asher!
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with the maturity date of April 19, 2013.
I think that's very possible if they get things done properly.
GO GDSM!!!
Exactly! If the "E" wasn't technically removed, they would currently be in the pinks, and they aren't!
Agreed!
The LOI has a 30-day response clause. I think we will know more within that time frame. This could be HUGE IMO.
Instead of being on their website, it was released via GlobeNewswire via COMTEX. That is much better IMO.
Rod tight lipped? I must have missed the reason?? Anyways... Marcum still has 5 days to get the E taken care of.
It is hard to remove something that wasn't ever there. The "investors" tab has never included the share structure.
Yes, GDSM is a pink sheets company, we have all known that since day one. If someone doesn't like pink sheets filings, then they shouldn't invest in the pink sheets market IMO.
the only thing you can rely on are pinkie financial filings and PR's (both of which are like reading a grocery store tabloid
WOW, Rod took time out of a meeting to reassure a shareholder that the "E" was being dealt with! Nice! Did he say what the meeting was about? Do you think it was about funding or permits???
As do I!
That is only your opinion. Many of us believe that GDSM will succeed in their gold mining endeavors. That makes the price of gold VERY relevant!
That is so fitting!! Lol...
SIRGE doesn't have enough shares in the bank to meet the requirements set forth by Asher for the notes coming due. This was made very clear when they attempted to increase their A/S to 1.5B. If they are currently not meeting the requirements set by Asher, there is no way Asher will give them additional funding until they are back in compliance.
Honestly, they had better terms with the notes from Asher than with the new companies. The interest rate with Asher was only 8% and the length of the notes was 1 year. The new notes have an interest rate of 14% with a mere 6 month term.
Reasons for the Increase in Authorized Common Stock
The Company has entered into a series of agreements with Asher Enterprises Inc. (the “Asher Agreements”), to provide
working capital for the Company’s operations while the Company raises a higher amount needed to re-open operations at the Chloride Copper Mine. These agreements were previously disclosed in the Company’s filings with the Securities and Exchange Commission on April 15, 2011, August 15, 2011and November 16, 2011. The Asher Agreements require, among other things, that the Company maintain a reserve of authorized but unissued Class A Common Stock (the “Reserve Shares”) in an amount 5-times the number of shares into which the outstanding debt of the Company to Asher Enterprises is convertible (the “Conversion Shares”). With the recent share price drop that the Company has experienced, the number of Conversion Shares has increased and the number of required Reserve Shares increased proportionately. As a result, the number of required Reserve Shares exceeded the number of authorized but unissued shares of the Company’s Class A Common Stock, and the Company became noncompliant with the contractual requirement. The increase in the number of authorized but unissued shares of Class A Common Stock will both (i) place the Company back into compliance with the contractual requirements and (ii) enable the Company to borrow further amounts from Asher Enterprises for short term working capital to keep the Company operating while efforts continue to raise sufficient funds to re-start mining operations at the Chloride Copper Mine.
False misleading statements like "we aren't using toxic financing", which good ole J. Rod at SIRGE said?
The terms of the SIRGE notes are 42% of the lowest 3 trading prices of the previous 10 trading days, and they can convert as early as 180 days after the note is issued. I would call that VERY TOXIC! Now SIRGE doesn't even have enough shares remaining to get a note through Asher. I wonder how long it will be before we see that A/S increase to 1.5B???
The holder of shall have the right from time to time, and at any time during the period beginning on the date which is
one hundred eighty (180) days following the date of the Convertible Promissory Note and ending on the later of: (i) the
Maturity Date and (ii) the date of payment of the Default Amount, to convert all or any part of the outstanding and
unpaid principal amount of this Convertible Note into shares of the Company’s Common Stock at a conversion price
representing a discount rate of 42% of the then going Market Price which shall be defined as the average of the lowest
three (3) Trading Prices for the Company’s Common Stock during the ten (10) Trading Day period ending one Trading
Day prior to the date the Conversion Notice is sent by the holder of this Convertible Note to the Company.
LOL... I've heard that one so many times that it is simply laughable!! She sure does get a lot of "calls" from what she views as "important" people. LOL...
I received a call
Looking to buy back in cheaper? I'm not selling my shares way down here!
I'm out for Now!!
Good morning Salty! Let's have a nice GREEN close here today!!