Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This 10K is a lengthy document and I can understand how it could contain some typographical errors. But a mistake in the year ending date on page 1 is a bit much. You would think they would have enough internal QC to catch something like that.
Makes one wonder a bit about management. I emailed SFMI IR on this point. Wonder if they will answer the mail and, if it really is a 2010 10K, submit the obligatory correction.
Last few days been sort of like watching paint dry.
Anyone out there have any insight about what we might expect for the week ahead?
Even if we were to receive a 10Q or 10k, don't imagine it would tell us anything about recent activity, revenue, etc.
I have just posed this question via the SFMI Investor Relations link.
Also asked them to inform us when we can expect the required senior management reports to be filed in accordance with "fully reporting" status.
I will post any answer that I get for all to see.
Of course, the necessary follow on is are we trying to evaluate a 10K that is 15 months old or not?
And, if above is true, should we expect a 10K covering the most recent FY?
Thanks RBK.
Something seems strange about a "fully reporting" company that reports that senior management almost entirely ignored a filing requirement but makes no attempt at mitigation of the failure by telling the world when they will file.
Also, see my most recent post. Just noticed the ending date of 31 Dec 09 on this 10K. Gosh, last time I checked we are well into 2011.
Admittedly I have not pored over all of the many hundreds of posts we've seen since the 10K was released. So, I guess I could have missed discussion on the following.
However, what follows immediately below in italics was lifted directly from the 10K.
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2009
If this 10K is really for the period ending 31 Dec 09, 2 questions.
1. Why is this report so late since the ending date was almost 15 months ago. And by extension, when will we see the 10K for the period ending 31 Dec 10?
2. If it really is dated 31 Dec 09, why should we be surprised that it doesn't reveal much of anything regarding production, etc.
What am I missing?
I don't know either. But, if they weren't required to disclose, why would they bother to point out these failures in the 10K?
Afraid I am not schooled on the provisions of SEC reporting.
Not sure I agree with you on this. Failure to file means they did not disclose what they did. I do not believe you can conclude that no insider transactions took place from those who did not file. Because most of them did not file, we really don't know what they did ... or didn't do.
May be dumb questions but I don't know the answer below. Can anyone help/comments?
The 10K is chock full of cases in which management blew the requirement to report insider transactions. So, question #1 is as follows:
1. Now that the 10K is filed, will the SEC force these laggards to comply?
And 2,
2. Would continued non-compliance result in delisting?
Thanks
Gas ... not disagreeing with you but would appreciate the logic behind your assessment.
Unfortunately, you are not going to hear from them. They have already made their money and moved their boiler room on to the next set of suckers.
Yes, a bit.
I personally lost a bit about a month ago, saw the error of my ways and bolted ... never to return.
Was just trying to warn some fresh meat not to waste their money on this pig. Of course, they are all smarter than me and think they can buy in big now and ride the wave. And, of course, they ignore my suggestions. Suppose they will learn the hard way.
You are absolutely correct ... it is a steal. They are stealing your money. IMHO, buying more is simply a fast way to lose more. This does not act like a real stock because it is not a real company.
I trust these guys about as far as I could throw them.
Thanks Oscar. I'd been looking elsewhere and missed this.
CC ... has you birdy returned with an update?
Agree it should be coming out ... but many of these puppies rarely if ever keep to a schedule or inform you when the filing is delayed or why it is delayed. More often than not, there is simply no report and everyone is kept wondering why. Seem to be a lot of unknowns here. I'll not revisit all the back and forth on are they producing but it does give pause for reflection. A pause that a 10K should clear up once and for all.
I've read all the posts, seen the pictures, read the historical data, heard from those who attended the shareholders meeting. But is it possible that UREC and his evil band of inter-galatic thieves have spirited away all the gold and silver in them there hills? Pennies are oftentimes like Forest Gump's box of chocolates methinks. Time for some facts I hope.
Has anyone received anything from SFMI management regarding the 10K?
I still have a decent stake by the way.
Must have missed an announcement. What is supposed to happen in 4 more days? Fact or conjecture?
Commissioned is very much different from actually doing the 43-101. Unfortunately WLOC has a long track record of announcing something or other in a PR ... then that's the last we hear of it.
A number of "geologist is sent" PRs over the months. What did he do, go on a picnic? Never a report of findings that I can find.
Good luck to those of you who remain believers. IMO this is all so much hot air. CEO must be a busy little beaver ... think he runs about 5 or 6 companies at the same time ... none very well it appears.
If I am wrong and this is legit, I will be the first to admit it. But I believe there is ample evidence to the contrary.
JMO.
Double click. Duplicate posts.
I also enjoy the exchange of info from the wide range of experiences that the various posters have. Whaz posts excellent technical stuff that I don't know hardly anything about. Wanted to learn more. Thus my request for a good educational starting point. Wasn't asking him to lead me by the hand just a starting point. Just like HW has a depth of practical experience in mining ... but in that case experience that I will never have.
Clearly I struck a nerve with Whaz when I expressed surprise over his "do the work yourself" response over the title of the book he referred to. I simply did not want to buy 5 books and then try to figure out which one he was referring to. So once again Whaz, terribly sorry to have offended you with an off hand but obviously to you insensitive "I concur" with another poster. Wasn't intended to PYO but I guess I can understand your reaction.
My sincerest apologies.
Sorry to offend you. That was not my intent.
I liked what you posted that showed extensive background in technical analysis. Thought I would like to learn so asked for a reference. If Nison had only written one book I guess I could have been certain I was getting the right one. But he has written a number of books going back nearly 20 years. You suggested I get his most recent book. So I asked for clarification since 1992 did not sound very recent.
I was not asking you to do a lick of work for me. Just asked for the title of the book. If you have physical challenges that preclude you from answering that question, then just tell me that. Geez, how was I supposed to infer from "do your own work" that you had a physical challenge?
Sorry what I thought was a simple question offended you. I had no way of knowing it was not simple for you to answer. Heck, I had never even heard of Nison until you mentioned his name. I will figure it out and I will bother you no more. Thanks for the lead on Nison.
Have a nice day.
You were reading my mind re that response and I thought it odd also.
I did the same thing you did on Amazon and found several titles, all having something to do with candlesticks.
Was only trying to make sure I got the right book. Oh well.
I also ordered the book by Elder that another poster recommended. My tech skills are rudimentary at best so I figured I might be able to learn something.
I made a modest buy yesterday at .23. Sure hope something positive happens with this sucker.
Good luck.
Just trying to narrow down the search since Nison has a number of books in print. But knowing the book was from the early 90s will at least be a start.
They believe the hype and pump and think these are real companies with real growth prospects. And some apparently fail to do any cursory DD to begin with.
They get suckered in by the thought of easy money when in fact, it is all a scam. The WLOC family of bogus companies certainly is.
I got burned about 2 years ago with KDKN. Did not realize how fast I could get fleeced. But I certainly did not over extend my self as it appears many have. My loss back then was painful but not devastating.
I haven't been on these boards very long, only a couple of months. I watched the WLOCD/WLOC disaster about a month or 6 weeks ago. But as recently as last week, there were people saying "WLOC has not dropped recently so I am buying more." Tried to warn them off by suggesting they go look at the pps history and take a couple of hours to review the hundreds of posts on this scam, SEC releases, etc. WLOC was at .11 when I read that post, think it closed around .06 or so today.
I have started a personal crusade to warn folks off when I can ... but most don't seem to listen. I guess because the prospect of huge gains from companies with 0 revenue and even lower prospects blinds them to reality. Plus they do not understand the level of risk that they are assuming in the ultimately unsuccessful search for the next Exxon or gold giant or tiddly winks monopoly.
Such is life I guess.
And I agree Doc has not helped very much to warn people. But then again, don't suppose the moderator is obligated to protect people from themselves.
Whaz,
Any idea what the title of Nison's latest book is? I searched on Amazon and found a boatload of "candlestick" books with similar titles.
I'm still in.
Thanks Stumpy
Whaz,
Most impressed with your technical analysis knowledge. How do you suggest that a non-techie like myself start learning at least the basics of tech anal/charting. Can you suggest a decent reference?
Thanks
Nice post Whaz.
Thanks. Perhaps overly worried because of dirth of info (both from company and on the board). Just looking for a bit of reassurance I suppose.
Ain't going anywhere.
Nor am I am going to respond to post #979!
What are you basing this assessment on? What do you know that will cause this puppy to change direction? Not saying you are wrong but need some rationale more than a simple statement. Hoping rarely works.
Thanks Whaz. Fib lines are not anything that I know an awful lot about quite honestly.
But from a fundamental basis the lack of news, delayed reports, no revenue announcements are all not so good.
Appreciate your explanation of the Fib lines.
Guess we will have to see.
I can promise you that I will not do anything that a certain poster suggests. I haven't a clue what that guy is all about ... nor I suspect does he.
But I am getting more and more concerned about this. Delayed reports, no reports, votes of confidence with nothing to back it up. Starting to worry me. This stock is down nearly 75% since it reached its high back in Feb. We need positive news and I think we need it soon.
Getting a bit hard to keep the faith with what this stock has done since mid Feb. Basically a grinding loss of value with one minor positive blip back around 10 Mar.
And still no meaningful releases from the boys at RAPT. I understand the potential of RAPT but in my view management is hanging us out to dry. Almost as if they want the stock to drop in value.
I ain't deserting yet ... but could someone convince me that there are good days ahead? The chart since mid Feb is straight down with no signs of a reversal. Cruddy volume, etc.
Would appreciate your comments (with one exception).
Been a long time coming but it sure looks like this is going to be some kind of fireworks show pretty soon.
Whaz ... what are you basing this assessment on? Not saying you are wrong, just trying to figure the basis of your opinion.
As do I.
I was merely trying to alert some posters who obviously believed all the pump was for real. Researching hot air results in hot air oftentimes.
Canyon ... What is your take on the 25K per ton figure. Seems awfully high to me based on historical numbers of 2.5 oz per ton that have been tossed around. 25K is the equivalent of over a pound of gold per ton (realize it would be numerous different minerals in addition to gold).
This 25K per ton number is so much higher than any thing I have read about it gives me cause for concern.
You're right of course.
Sometimes hard to ignore his nonsensical babble ... so I poke him back to see what he will say. I can promise you that I don't waste much time on this clown.
I checked other boards he is on. Same drivel there. Seems to recycle his meaningless, mis-spelled double talk.
I am hanging in there with RAPT. Hope we get some real promising news before much longer. In your opinion, is now a decent time to buy more? I have been buying a bit on the way down. Would feel better if we had a reversal at some point.
Since it appears that you must be somewhere in FL, have you actually dropped in on their Groveland offices?
Can I assume your head is in the bucket?
Zoe,
Sorry these crooks ripped you off ... they got me about 6 weeks ago.
I think what we have here are folks like us who are used to investing in real stocks. Then we see the hype about some apparently wonderful opportunity so we take the bait. But IMO none of the hype is based on fact, just pure speculation by people who are paid quite handsomely to craft a fantasy land story.
There is money to be made in such stocks, but one must be nimble, get in early and, most importantly, get out early before the inevitable crash or grinding descent into oblivion. I admit that I treated some of these as real stocks that act like real stocks ... they aren't and they don't.
The guys making the real money are the PR firms and insiders who know when the pump is coming. By the time most of us hear about these so called gems, it is almost always too late. A high percentage of the true believer posts are intended to convince others to buy in to kick up the pps so the scumbags can sell and move on. Many of these "to the moon buffoons" are telling you they are buying when I feel certain they have already sold.
Sorry, but that's the way most of these work. I guess there is the occasional penny that becomes a Microsoft but I don't know how to find them. Plus most companies that turn out to be long term behemoths start via the IPO route, not the glossy PR route.
Trust me, WLOC is not and will never be a long term hold. These bums will simply lie in wait to fleece the next bunch of newbies who buy into the idea of easy money. I guess there is some slim possibility that you could hang around long enough for the next pump to allow you to recover some money ... but by doing that your money is tied up in garbage. Plus some are tempted to buy in after already taking a huge loss with the belief that the stock has already dropped, surely it has to recover. NO IT DOESN'T!