Hardly Breathing
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A lot like a home renovator being relied upon for providing consulting services to said so called gold mining company and being paid for it. That money would have been better spent providing the audited financials so they could raise investment capital in Canada and not handcuffing the company attempts at exploration and development. It also would mean Canadians could trade the stock once again.
Agreed. The idleness exhibited is paramount and leaves investors grasping at any lifeline in a vain (vein?) attempt at reconciling the reality. With tales of 456 grams per tonne, posts stating the CTO had been lifted, furthered by potential regulatory violations (going public, can't lose money on the preferreds, shares being worth at least $1.00 etc), desperation becomes the lifeline thrown to them by misrepresentattions. I seriously doubt Mr. Dion would have attempted to open a trading account in the United States to facilitate the granting of shares by the company, Atablama. It must be frustrating the billionaire myth was popped, Todora myth was popped, and the continual loss of previously hyped claims is making it more difficult than ever to sustain the belief Ataclama will mine gold. If the company manages to file audited financials, as they have said they would do for going on three years now, I may change my opinion but for now, nothing illustrates that. Of course much will be attempted to make something out of the late filings due today when they are posted.
Some other ACRL stock promoter actually said the CTO would be lifted in May of 2020, and it could even happen that weekend. That was immediately following the nonsensical Florida filings to keep their corporate status active which some tried to have others believe was the beginning of the beginning, which of course, after many false calls regarding the cease trade order lift, was just another in a long line of false statements regarding ACRL.
Great post Suvorov. Keep it simple so the message about Ataclama can be understood. No one can misconstrue your intent when you speak of Ataslama. Good job!
I thought for sure they had shot at finding gold with the Tautochrometer but unfortunately with no lands to explore for Ataslama, it is pretty much useless. The Tautochrometer excels at reducing ambient background noise (meaning it excludes non-gold radiant complexities and is designed to focus on higher than average strikes of gold, rather than pyrite for example-although higher than average pyrite finds have been reported as regards Ataclama). With the connection of consultants involved with the Tautochrometer and being affordable it is too bad for some the connection was never substantiated. However exploring means you need land and with the exception of the low grade results of Tannahill, not sure where the next 456 grams per tonne of gold is going to come from for Atalamba.
Goodnight, see you in the morning.
They have five additional days past the filing deadline for quarterly reports so November 22 is the day they have to be filed. I can imagine Dave and Joe growing up and explaining why their chores were not done.
David, I asked you to cut the grass!
Dave:It was the pandemic.
Joe, I asked you to shovel the driveway!
Joe:It was the pandemic.
Today-Joe and David, since you have no business activities, no revenues, no exploration, no mining, no audited financials, no activity, few claims (and even those are not much), why are the filings late?
Joe and David:It was the pandemic.
Yes, time I think for a vague press release from Atacama talking about their new Covid cure, or a Clown Casino Coast To Coast, or GoldBerry Energy Shakes. Maybe, just maybe Joes Ataclama Restaurant Chain coast to coast seafood restaurants (in keeping with vague some visitors might complain they were getting seafood but again, the vagueness is the food you see). So many possibilities! Waiting for the platitudes across the latitudes to be served up to open maws while some of course, will be selling Ataclama, Atacama sorry, even though they claim not to be. Who knows, maybe someone is in touch with the company while most are out of touch so the news release should come from the usual suspects. Let's see if they can get inside the fifteen minute window prior to the press release to let everyone know. Atacama might do well to clean up their past.
It seems like yesterday when long investors were gloating and pointing fingers at the naysayers but, like all things Atacama, things were not what they seemed. Happy Second Anniversary ACRL investors for being duped by false company filings! The company, not once, but twice, filed unaudited financials as audited on SEDAR. When this happened I checked with the Canadian regulators and was told "only the issuing corporation can amend SEDAR filings" as the regulators only are the recipients of information posted to SEDAR. To date, the company has failed to amend these misleading filings from the Canadian system of disclosure. Happy Anniversary Atacama! You must be very proud.
Moo
They did give up what Atacama called the biggest gold find in that area equal to or greater than KLG. I wonder why they did not pour their resources into getting the cease trade order lifted and then went after those 456 grams per tonne that were claimed. They lost the claim. Is there one out there even bigger than 456 grams per tonne? I know KLG is happy with 58 grams per tonne in some of their mines. But I get it, why mine something almost ten times bigger than the best KLG find when you think there is an even bigger one elsewhere. But that would require timely and accurate disclosure under very strict Canadian mining regulations (toughest in the world) and really, who wants all that extra work when one can get a good salary for avoiding it.
It is not about "winning" but rather about ensuring the information being passed out as factual is dealt with. Personally, I hope you make a huge amount of money should the cease trade order be dealt with and Canadians can participate in the market for Atacama once again, but it must be legitimate information and not playing the "game" as so many Pink OTC stocks are. Those concerned with selling their shares into strength on the backs of naive investors tout information related to Atacama that is anything but factual. Sure make money on falsehoods, many do but I am a firm believer, however naive I may be,the markets should be based on timely, accurate, transparent information that everyone receives at the same time, not just a select few as has been the case here. Atacama I hope see's a share price increase because they are doing something other than what they have done but with noexploration, mining, joint ventures, not just the vague insignificant filings bandied about as somehow being important. Who cares about a filing in Florida, or OTC non-audited filings? What does matter is assays, audited financials, acting like a responsible issuer of securities, something heretofore has been wanting, not vague promises, most of which have been unkept.
Some ACRL investors may feel they have won but there are many others who have not. Atacama needs full and complete disclosure but until then, it is indeed a game. My role is to continue to warn potential investors about the pitfalls of swallowing falsehoods, the burning thread of lies.
If you pretend to build it they will come.
ACRL needs to be promoted since the information vacuum both from a regulatory aspect and an investors aspect is quite evident. Without stock promoters ACRL would not even be a pimple on the gold belly of Ontario's gold belt. Apart from some useless tidbits, nothing has changed.
and don't forget the debt is now higher than it was and continues to grow and it was Berry's company who called an option an acquisition. But you cannot trust an attorneys letter, it is after all, only an opinion. Laughable financial updates since nothing changes except for the amount of money outflowing. This company and some of its promoters should start a new company called Excuses'R'Us. That way everyone would know what to expect.
Having the cease trade order removed is a very simple process but you want to have it removed before anything can be accomplished. Granted (no pun intended Glenn while you read this) they will be under more scrutiny than if they had just been a few months overdue. The company management has been talking non-stop about having it removed since 2018. Remember, the audits were done, in the hands of the lawyers, with the cease trade order removal just weeks, if not days away (some wag even said it could be done over the weekend in May of 2020!) and yet, nothing was ever filed. They have done nothing to have it removed, not one thing, apart from talking about it.
It all begins with filing audited financial statements, something the company seems unwilling to accomplish. Having the financials audited is simple and given the lack of business activity for a number of years with only outgoing revenues, a grade ten economics student and a business income software program could complete them in a few hours.
The company continues to be in default. Auditing the financials and reporting them would lay bare a number of concerns, especially if they applied to have the cease trade order removed. The amount of money they owe continues to grow, both to the securities regulator in Canada and they debt they have. So being in default while some profit by promoting ACRL on social media seems to be the fate. There are also a number of potentially crippling regulatory violations to be dealt with as well and those are the more serious of the issues. The company continues to miss filing deadlines in Canada.
From the beginning, if ACRL is co-operative and provides information to the Canadian regulators with an eye to having the cease trade order lifted, it can be accomplished in three to six months. So far they have had over three years to accomplish something so simple and have not been able to get it done. Remember it was Berry and his billionaires that were to pay for the audits and exploration and now the dimming torch has been passed along to (but not really wink wink nudge nudge) another to hold it before it too sputters out.
To be fair, Joe and the new management cannot purchase shares due to the cease trade order. I believe shares cannot be issued in lieu of payment either. But really how gullible do they think intelligent investors are? When management allows social media to do their investor relations for them that is sad, especially when the stories being put out there are suspect-like Todora.
Glenn Grant sold all of his holdings. I guess that means you had a fool for a CEO, the same fool who convinced the public they had larger reserves than KLG! And the same fool who said they were going to the TSX (later changed to the Nasdaq because it made a better pitch), and the same fool who said the financials would be audited. Fools gold.
Dried up!
Check out this info. Maybe they can fill in the blanks for you and others about its viability. They did have the info on their website. Are you familiar with them. Maybe DLM is.
DD Summit Group had TTCM on their website.
Managers
Name
AddressBARRINGTON, JOHN
20 THORNFIELD LANE
HAWTHORNE WOODS, IL 60047
Name
AddressKOBESZKO, CASIMIR
2755 BAY OAKS DR.
MCHENRY, IL 60051
I agree, Amazon is easy to shop. No distracting floating tombstones spelling the death of the stock.
You know how you can tell who is selling? Anybody who proclaims on social media (usually repeatedly) that they're "not selling". So true and thanks for the confession.
I fully understand. The conversation must have been long and detailed.
Accountant:Anything new to report since the last filing?
Well, not really but but the guys on twitter say we have a coast to coast mining company and all the land in Canada is owned by First Nations so can we put that in there?
Accountant: Um no. Any revenues or exploration, or business activities changed since the last filing?
No, no and no but we were really really busy letting the claims expire. Can we charge Tim Hortons coffee and donuts costs toward the cost of letting the claims expire?
Accountant: I don't think so. Sorry but I have to go. I have real companies to deal with. A pandemic ate your homework is not going to cut it.
I forgot its lame duck season once again. Betting ACRL is gonna file late again and blame it on the pandemic disrupting their business activity. How do you disrupt nothing? That is the next release I am betting.
Of course but there are regulations regarding the use of promotional language here and in Canada. One cannot tout assay results as being equal to or greater than Kirkland Lake Gold without having a professional geologist sign off on it before issuing the release, which is what they did. So despite you perhaps claiming there was no gold, they did claim there was in the Executive Summary soliciting interest in the Class B Preferreds, so the disclosure should have been forthcoming when they no longer held the land with the fake claims of gold. Someone bought on that story and should have been able to sell when it was realized Ataboy no longer held those lands. They also should have issued an acknowledgement informing the public Tannahill was not an acquisition but an option, or the unaudited financials filed on SEDAR were mistakenly labelled as audited.
a little buying before the company unleashes another press release?
It's too late. The scammers already got to you, you bought.
So is the letter from the lawyer as regards the latest filing. That is the way things work.
No idea. Here is the contact info for the hired consultant (s).
Managers
Name
AddressBARRINGTON, JOHN
20 THORNFIELD LANE
HAWTHORNE WOODS, IL 60047
Name
AddressKOBESZKO, CASIMIR
2755 BAY OAKS DR.
MCHENRY, IL 60051
I agree but disagree. The lands were promoted in the Executive Summary, a document prepared to solicit participation in the Class B Preferred Share Offering, therefore even though no assay existed for those finds, the highly speculative results put forward by Atacama Resources in an obvious attempt to bolster the share price (Mr. Grant himself declared, even though it was contrary to regulations, those shares were worth at least $1.00 per share and investors could not lose), therefore could be the basis of the complaint. Once those highly promoted lands were no longer going to be part of the strategy going forward, the public should then have been informed. It was a material event releasing the highly speculative assay results which resulted in higher volume and a higher share price. A reasonable investor is not expected to be an expert and places their trust in the opinions and disclosure declared by the company. We can go from a misrepresentation of fact to an omission of fact very quickly. Had a reasonable investor known the requirements for making such a claim that is different but reasonable and expert are two different things. Reasonable investors often are taken advantage of, and at times, as seen in the greatest Canadian mining swindle of all time, Bre-X resulted in stiffer disclosure requirements for Canadian miners and those issuing shares of mining companies in Canada that now have the most rigorous mining disclosure requirements in the world. Some experts also were taken advantage of worldwide relying on the assay results from Bre-X. Off to celebrate Portugal choking against Serbia yesterday. The Spanish love it when their arch rivals choke.
An opinion based upon the requirements of securities law.
Rule 405 under the Securities Act defined the term “material” as follows: “[W]hen used to qualify a requirement for the furnishing of information as to any subject, [materiality] limits the information required to those matters to which an average prudent investor ought reasonably to be informed before purchasing the stock....
So the argument would be made the company knew it had no plans to renew the expiring claims and should have informed shareholders and prospective shareholders (the public) at the time the decision was made informing them of that decision. A purchaser buying shares of the company based on their disclosure prior to the filing where this is stated could argue the company omitted that fact from their continuous disclosure obligation and if the purchaser had known those claims previously promoted by the company in their Executive Summary no longer were valid, they may then have opted not to buy.
Therefor the test for omission of fact can be made.
It was the dude from DD Summit Group that bragged about buying beef jerky-you know the jerks who had TTCM on their website.
LOL. Securities law requires issuers of publicly traded corporations to release information that may reasonably be expected to have a material effect on the share price of the issuing corporation. Not only are company officials expected to provide clear, timely, and transparent information but they also can be held accountable for information not released "that had an investor known, may have chosen not to invest" in the issuing corporation. So to explain it simply, misrepresentation is as bad as the omission of fact.
Sorry, not nearly good enough.
LOL. Securities law requires issuers of publicly traded corporations to release information that may reasonably be expected to have a material effect on the share price of the issuing corporation. Not only are company officials expected to provide clear, timely, and transparent information but they also can be held accountable for information not released "that had an investor known, may have chosen not to invest" in the issuing corporation. So to explain it simply, misrepresentation is as bad as the omission of fact.
What a responsible publicly-traded company would do is to inform investors as claims lapse and no longer are held by the company rather than waiting for the next quarter to inform investors. It is shameful that relevant, material information (information that could have a negative or positive effect on the share price) is having to be posted by the public rather than by the company. To claim the company is transparent because they post information publicly well after the fact is not how a responsible issuer behaves. The company could also amend the false information on SEDAR (they don't file EDGAR reports) but for some reason, have chosen not to. Good or bad news should be reported immediately if it is something that could have an impact on share pricing. It will be two years since the false information was filed, and two years some were jumping up and down about the "audited financials" which was a false filing. An attorney responsible for approving those (the old "the audits are in the hands of the lawyer waiting to be signed off on") should be aware of securities law in Canada and intentionally label unaudited financials as audited twice was suspect.
If people did not get their "facts" from Twitter Todora would never have been mentioned. Graphite was the big claim and graphene and silver and gold then diamonds, complete with a hand drawing of the Nippissing Diamond. Management used social media to advance the false information others relied upon to purchase. The Executive Summary was a great example. Why has not management amended the SEDAR filings to clearly show they were not Audited Financials? They have had almost two years to do it. Why did they alter a press release? Why did they use acquisition instead of option? More questions than answers. Before dinner walk on the beach. Later. I guess you no longer wished to be Served up info or catch a cold and become wheezing.
and since then how many other claims have been lost? Todora property lost. Acquisition was not an acquisition but an option but they stated it was an acquisition. They changed a press release. Sure, transparency all the way. Those claims were touted as a reason to buy Atacama back in the day and still on the main page here. Management touted them as reasons to buy but I guess that is what happens when you have a management with zero mineral experience touting claims like Todora and graphite and even Fit4Duty fiascos! Transparent as a London fog.
Ribbit...Ribbit. Cannot sell without driving the price down because no intelligent investor would consider buying this stock - outside of the victims of paid promoters (who then sell as they encourage others to purchase). They have not even taken the time to inform investors they are losing claims. Ribbit...Ribbit.
Investing in ACRL with zero current information is like diving into a "dead pool" full of rotting, bloated, stinking remains of past promises never kept but there are species that love to pick at remains of dead stocks I guess. What you need is clear, informative disclosure so you can see the bottom of the pool when you dive in at least knowing where the danger points are. ACRL is a dead pool at this time, something they have been for years now. They really were Unfit4Duty and investors saw how well that little schlock stock driver went.
Non infrastructure spelling, stimulus spelling, not successful with ArkNet-failed spelling out truth about neither possibility. "Awesome Science" with fat babies is since heretofore minor modifications, in line with Blue State illegal Adult Acquisition abuses on many book covers since someone was a cowboy. Deflationary non=events has never been anticipated with gains plus spelling stimulus program leading to ArkNet non=anticipatory outcomes. Income levels now for ArkNet exceed $19.99 by a one cent projected income stream outside failed project now many years old promising much but delivering nothing but spelling mistakes. The ABC's of business for ArkNet is fractious only. Last nights non-percentile projection growth discussed and dismissed with vagueness seen only in fog.