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Thanks for the update which I assume is the viewpoint expressed by CFO.
Interesting this information as shows that more money was needed to activate the mill, not just paperwork", and my impression from your observations is that it is now clear they will not meet projections of the mill re-opening this fall- woudl that be a correct impression ?
Also interesting they blame the reverse splits on the lenders, and the press releases- but certainly company is responsible for content of the press releases.
I do not accept for one second that the convertible note holders as short term speculators have any desire to buy a mill with no ore and no permit, and a company with a potential judgemeent winding its way through the courts.
In response your your message-
1. I do not consider it bashing to ask logical questions and expect a minimum of objective discussion about the company. If you review my posts I have always indicated that (a) it could be the CEO is just mentally challenged in some way (b) that with his inexperience and apparent lack of education he may just be in over his head (c) or simply I have asked you to provide logical support for your continued positive opinion about this stock (d) I have also mentioned the CEO probably has lots of technical expertise but the business results dont justify confidence in his ability to deliver results as a CEO.
2. You indicate that this upcoming week will prove that your stock-picking ability wil be show by a rise in BTDG stock price. I believe you have made this sort of comment many times before,but I will certainly keep an eye out for this.
3. You mention that CEO actually has degrees from legitamate institutions - why not disclose these ? What is the secret ? Why would he list fake MBA and not real degrees ? Keep in mind his AAS and BA degrees listed appear they might also be fake.
4. My academic degrees- you asked this,I am not sure how relevant this is , but in response I have a B.Sc, two masters degrees, all from real universities.
I believe I have always responded in a polite manner, and I do believe your positive attitude is admirable. But it is illogical that you cannot provide any support for that positive attutude. I mean really, guy is claiming fake MBA, maybe fake BA as well- he also claims GAAP financial statements when they are not. It is one thing to positive, another to be fanatically opposed to reality. I am open-minded, please do answer the questions.
Why not answer the questions ? If your position is logical I am sure everyone would want to know why. Posting GO BTDG over and over I am not sure what purpose that serves.
Sure will be watching the purchases this upcoming week ! You are pobably the perfect speculator for BTD- no matter fake degrees, no revenue, no profits, no capital,declining stock price, you keep positive.
But why not address the issues ?
Well, LOL B shares sound like more bother than their value. I am curious about this whole issue and I do think relevant ( as always has been) on how company can or cannot be financed.
So end of June, wonder if company will update their projections for investors ?
Where is the claimed AA and BA degress from, are they from diploma mills also ? I cant find the quoted University of San Gabriel ? hopefully those degrees also arent from diploma mills.
SO what do we have
-degrees from diploma mills
- incorrect and misleading financial statements
- no sales, no cash flow, no profits
- many press releases last 3 years , nothing ever executed
- business acquired for which there is no evidence it had revenue or assets
And you post GO BTDG. Based on what ?
Thanks. The only broker I know that perhaps clears on it is Brown Brothers, every other one you mention does trade through DTC. Thus to me interesting is if one can buy still from some of those firms, and certainly as you well point out they do not wish to deal in actually transferring certificates, it would seem what is happening is they are running down the certs still on record at DTC. That is only explanation I can think of.
I do not know how process works with transferring actual certs for a DTC chill stock, though I would guess company may have a relationship with a broker to match larger buyers or sellers.I do wonder how eventually this would effect convertible note holders.
As far as preferred B my only real point is if converted to A stock one may have extreme difficulty selling that A stock if one cant place in a retail broker which you confirm that understanding. I dont disagree there may be some otehr type of brokerage firm that will handle the certificate to sell and transfer.
To me this presents huge issue in over time less brokerages willing to trade elctronically, and definitely most investors I know very leery of doing private placements in a stock with a DTC chill.Thus furtehr limiting their financing possibilities.
I know how DTC works but I dont completely undersand how the certificates trade tehs edays.
Alemeda Degree is NOT a real degree.It simply is a piece of paper one buys. The US Dept of education does not except, nor does the state of oregon which regularly considers such issues. The assertion form their website that it is "accepted" by corporatons is absurd- if some people work somewhere and about a piece of paper from Almeda, and no one has looked into, that doesnt mean accepted .Loog at numerous websites site as degreeforum.com, ALL mention Almeda as a pure diploma mill.Every year places that do look into- such as public servants or teachers who get paid mroe for more certifications etc, there are scandals involving diploma mills.
Issue of course is how doe sthis qualify CEO, and does CEO using this strategy of promoting itself give an idea how he operates ? Does this give you confidence still that CEO is "qualified" as you state ?
You have ignored also the misleading and incorrect financial statements. How do you defned the financial statements ? Look up any site on financial reporting, you cant do mergers then not have described and accounted for in the fnancial statements !!! And negative assets- how often have you seen financial statements with negative assets ?
No I am not talking myself just responding to posts that give the unlikely scenario one can just walk into a retail broker with stock of a company with a DTC chill, under $,25 and expect just to place in an account. Second, I always want to learn especially ( as I dont know)is how are insitutional brokers trading this stock and how do remnants of stock in DTC system from before the chill still trade.
For example if you can sell on Scottrade does that mean someone on otehr side agreeing to get certificate physically transferred, or as I suspect, it is a remant of formerr DTC position ? I will check out the link you provided maybe the answer is there.Thanks.
By your logic if i print a piece of paper saying "MBA",charge $500 to "review" a letter form you saying I worked in such adn such place, the send you that piece of paper that would be a valid MBA ?
There was a famous case recently about a "university" like Almeda which gave a degree to a dog !
You first said one of reasons he was qualified was CEO had an MBA. Next that it was a legitamate MBA. Next that it comes from a school with a reputation as a diplomae mill, doesnt requires any studies, or even verifies the supposed life experience, but issues a "degree in return for payment - and you do not consider that bogus ?
Every bit of information indicates it is a bogus degree, check out boards like degreeinfo.com etc, they all state same thing.
The US Dept of education doesnt accept the degree, the state of oregon flat out states is a diploma mill, it i snot accredite deven by the lowest accrediting body acceptable, and you say it is not bogus ?
I appreciate you are always polite and do eventually answer questions, but I find it hard to believe that would defend a fake MBA and the person who put the fake MBA designation on his website.
I am still looking to see if even his claimes AAS degree was also bogus.
In response which I hope you answer
- The fake MBA is fake- read their websitem basically it can be purchased and suppsoedly justified by "life experience". It is not accredited by RA,NA or even lowest level of accreditation the DETC. It is declared illegal in several states that pay attention to this issue.
- What good job are you referring to ? No fund have come in for years, stock price continually declines, no sales, no operating cash flow, no profits, CEO claims fake MBA, filings are patently either incorrect , misleading or incomplete. Perhaps it is a language issue- what funds have come in ?
- Ye shinting at non public news to come most people woyld say promoting, as would be saying go BTDG.
- No big deal about losing money , this type of thing is speculative to begin with but I know enough : but unsuspecting investors who company, then supported by people like yourslef who seem to accept anything, is sad when people lose money through misleading disclosures.
Where is the AAS from ? I cant find University of San Gabriel, do you know what contact info or website info is ? I find it hard to imagine someone would also claim a fake AAS as well as MBA, so I am assuming the Associate degree should be legitamate.
I am trying to be open minded and understand on what basis you continually promote this stock- and appreciate you responding - but every thing that is looked into comes up with fake ornon-existent claims or transactions, or projections that never are met. Again after years of this, time for CEO to step down and focus on his strengths, get a reverse done, and start over.
If BTDG merged with Sino (a) it would show up on their financial statements which it does not (b) also, their would be filings in the location of incorporation of Sino. So it would be easy for BTDG to show copies of these filings (c) there are costs involved in a merger, BTDG has no money, someone paid and proper accounting woudlshow these expenses, and corresponding entry even if a contribution for expenses entry.
So again you make an assertion regarding BTDG,and yet again seems what BTDG asserts is not true.
You admitted you were wrong about MBA, which is to your credit that ultimately facts you will admit. We can go through almost every assertion this company has made and come up with discrepancies , so many that there is a pattern.
Please do not risk unsuspecting investors with promoting this stock until you have any reason for promoting a stock based on the track record. Would you employ someone with a fake MBA, who claims continually correct financial statements which are not, who never implements his initiatives ?
Incorrect and misleading filings is another issue- and you had indicated besides the fake MBA, that your other reason for saying CEO qualified was that filings were being made. But of no value of course you agree if incorrect and misleading, and no you bring up fake China merger.
- financial statements specifically refer to being prepared acording to USA GAAP when they are not US GAAP.
- numerous strange and odd discrepancies : negative total assets,lack of accruals for expenses, lack of entries for contributions for expenses, odd after the fact insertions such as shares issued but no corresponding entry to financials or re-statements
-using SEC 8k form which implies is SEC reporting company when it is not
- claiming merger which requires consolidated financials and notes on merger which dont appear.
-claims to have acquired for shares mortgage-generation busienss which to date has no reported revenue,profits, or even assets acquired
I think like the fake MBA issue if you actually consider these points and look into point by point, you will see that the filings are either incorrect,incomplete or misleading. You have ruled out that MBA is mentally disturbed, but you have confirmed his fake MBA which may explain the lack of knowledge and experience to make proper filings.
So question is you came up with only 2 reasons you felt CEO qualified- an MBA ( which you have proved is from a degree mill), and that filings are made ( which are misleading,incorrect or incomplete. Please do show me that these are incorrect assertions- I woudl love to know how on earth anyone with a smattering of business or investment knowledge could claim the financial statements of this company are prepared according to US GAAP as the statements themselves claim !!
So you confirm fake MBA claimed by CEO. Again Almeda University sells MBA's : " Almeda University, that is not recognized as a legitimate degree-granting university by the U.S. Department of Education or any mainstream accrediting agency, and which has been flagged as a “degree mill” by the Oregon state government."
I do appreciate you took the time to look into this- so I guess even you must admit kind of shady, and eliminates you reasoning CEO is "qualified" because he has an MBA.And brings into question, at a minimum, his other assertions- upon analysis most of which are not valid either. Being open-minded as I have asked you repeatedly, please give 1, just one supoorting fact or logical deduction of why you promote this stock ? Just One ! Just one success these past few years.
Called Alameda College, they do not offer an MBA and person who answered the phone say they never have.So (a)internet doesnt show they offer an MBA (b) phone call confirmed that. The other similar name is a diploma mill So either (a) the claimed MBA is from a diploma mill (b) or even worse it is from an institution that doesnt grant MBA's. Thus instead of a fake MBA received, a made-up MBA that never existed even on paper.
So you are saying that alameda College ws a MBA granting college , but then decided to convert to a junior college ? Where did you get that information ?
Sorry to be a pest but this is an important point especially you had specifically stated this was one of reasons you had opinion CEO was qualified.This isnt a big surprise though, the filings made show someone wth a smattering of knowlede of terms and formatting, but little business contract or disclosure experience.
I wonder if same situaton with University of San Gabriel for the AAS degree ?
Well,
1. If he is not making salary, and he probably has other business as well, he may just have to prioritise his calls. Anyway I wouldnt fret as he probably just a bit gruff sometimes.
2.Yes Lannen a different kettle of fish- but he was on a "mission" as opposed to pure business. I also had talked dto him.
3 Seems Ryan and Crosby have other companies that do business with Cambell, who knows reason fro their departure.
Still boils down to the dynamics of situation of fundamentals and simplicity of this stock which reduces common risk factors. Since illiquid one needs to accumulate in small amounts. Sicne no promotion, hopefully word of mouth slowly moves price up in upcoming years I am quite confident of a $5 to $10 buy-out price. Look at it this way for $5 million buys out 20% of 50 million ounce resource + future potential at deeper levels+ lots of potential bother that as Lannen experience shows can be substantial.
Why on earth would any serious business or funding come to BTDG when one can start a new public company for a fraction of teh cost and time to sort out BTDG ? Can you honestly say you believe they will do a $500 million deal ? You have always been a polite poster to this board, and positive attitude, which I respect. But the fake MBA is not just inexperience or ignorance- this is a real issue. What university whether RA,NA or even DEC accredited awarded an MBA to this CEO ? All indications are it is a fake MBA.
I completely agree that in such stocks one has to accept the speculative aspect but there should be some reason for the speculation. Unfortunately this stock I took a position on a few years ago, and I accept is a loss but I dont accept misinformation.
You refuse to give any logical back-up for your views and employ circular reasononing that doesnt make sense- so I just ask the questions.
1. "is qualified to be CEO ."Why , "because he has a MBA". There is no record of any legitamate MBA from the place he mentioned.Why does MBA qualify CEO ? "Because CEO's claim that MBA".
2. MBA is fake as far as all information out there, I am open minded please supply 1 bit of information .
3. BTDG has failed to generate revenue, cash flow, or even that businesses they claim to have acquired exist. How does this generate confidence for BTDG to execute any current announced plans ?
4. "filings are the justification" - oh come on, just to give one example- financial statements re-stated, and CEO claims they are in accordance with GAAP when they are not. Uses SEC reporting company forms when company is not SEC reporting.
Let's be open here- if you had an employee who had failed at EVERYTHING for 3 years, would you keep the employee on ? Let me ask you- how can you promote a stock with no justificaton to unsuspecting investors ?
I am not unduly beating up CEO, he probably has a level of technical competence, but no evident CEO skills- cant generate revenue, cash flow, investment, execute on new initiatives, therefore how can you say he is a qualified CEO ? If I am wrong please do show me some , even 1 item that has been successful the last 3 years.
The subject is of interest to all shareholders as it effects company's ability to finance itself-so not counter productive. Second, this in my opinion is exactly why so many shareholders have been burned in this stock because of fanatic resistance to the realities of the market as it is today- as opposed to trying to learn.(I did learn a bit about the Colorado permitting reading this board.)
People discussing "coventional financing" when none available. People discussing "manageable" dilution when financial statements themselves show how much dilution coming. People discussing a mill going into operation by the summer without a chance $3 million would be raised to do so.
No one trying to scare anyone, I know if I had class B shares I would appreciate helpful advice and a heads-up, and I woudl not like misinformation.So I do not understand the reference to facepalm.
Anyway do let us all know how you get a DTC chill stock into a retail brokerage account when the time comes and the costs involved.
Please supply some justification for you projecting BTDG as a good speculation. Have they generated any revenue in 3 years ? Have any of their initiatives proven successful ? Have their acquired " businesses" generated any sales,cash flow ? Is there a reason CEO claims in his filings the financial statements prepared according to GAAP when they are not ?
I am trying to be open-minded , and also with respect that you must have a reason for your continued promotion of this stock.
Everything indicates the claimed MBA is fake, and that wa sonly thing you could come up with to justify the CEO's competence.
Plese be so kind as to tell us then what your DD showed.
First , what college are you talking about ?
-Alimeda or Almieda doesnt exist as far as I can see.
- Alameda College doesnt offer master's degree, and nothing indicates it ever did.
-Alameda University as I indicated i wrote earlier a degree/diploma mill.
Every bit of information available points to this claimed MBA being fake. This I would think a serious credibility issue, so out of fairness if you have some DD showing otherwise, please share with us.
I wouldnt worry about CEO attitude, he probably gets lots of calls and since he surely doesnt pull a salary he has limited time.You are shareholder, and good to stay in contact periodically.
1. 3% NSR is better than 30% interest often because maintaining an interest involves issues often of participation in capital costs etc etc. That was one of issues Independance fought Hecla about.
2.The companies you mention are public companies so in the exhibits to their public filings will be the details you seek.
The CEO knows what he is doing, and Chester is a superb long term investment for patient investor. The key is the ownership of the claims in the Silver Valley, everything else gravy.The company has under 5 million shares, if CEO controls over 50%,and company is a hundred years old so many shareholders lost,the public float is minimal ( much less than Independance I think).
I still believe this is a $5 to $10 stock. Hopefully word of mouth with over time start moving price up before Sunshine Silver makes an offer. Just read the NI43-101 report at Sedar website- over 50 million ounces of silver resources + potential for even more at deeper levels -just on Chester ground !
Will all respect you are missing the point, which effects also overall why CGFI has such financing problems.
It really is not an issue of what restrictive legend is on the certificate, and no the broker didnt laugh as he knew the issues straight away ( which some brokers of large companies dont).I already wrote the reasons most brokers cant take such securities - even if free trading - and in particular with a DTC chill.This is an industry-wide issue even with penny stocks without a DTC chill.The broker did not ask at all what the restrictions were because the first issue is whether he could take the stock even if free-tading.
There is one firm in NY that advertises they can take such stocks, they charge $600 even to review if they can take. The DTC chill makes it very difficult and expensive for a broker to take these stocks in certificate form.Clearing firms set minimum prices. Scotssdale also advertises they can take such stock for a fee, I dont know if they could clear this stock.
In any case this whole issue highlights one of reasons why CGFI has had problems financing itself. And if you can find a broker at e-trade who will let you take that stock into your account and it can be traded, by all means let me know !
Trying to be fair to Kazorchian , providing him an opportunity to explain as he identified this as something that qualified CEO.
Amazing someone posting that BTDG could have a chance at a $500 million deal. This is so interesting, that one just has to ask what the thought process is behind such things !
If you state he is not lying please explain the fake MBA ? Unless there is some explanation all indications are that the claimed MBA is fake.This would explain CEO's ignorance of many basic business pratices.
However to be positive- company must do a reverse, get filings and accounting out of CEO hands, and have CEO focus on 1 thing, something he knows about.
You keep repeating GO BTDG, Earnest keeps repeating it is a scam- but if you ask EarnestDD question why he wil give an answer. Why will you refuse to address common sense issues any stockholder is curous about ? By all means if you have one, just one, thing CEO has embarked upon successfully with BTDG last few years just let us know !
Look with only $25 in revenue one can understand CEO being under pressure, and making mistakes- but they keep coming.
By the way what I am totally unclear about is how with a DTC chill even the institutonal brokers can clear the stock.
Does anyone know ?
I dont work for them but I know situation in general with placing such shares- and I talked to etrade, once you get past their general instructions about such shares and talk to someone in compliance they will say the same thing.You may be a big client or have institutional connections to get around current issues, but in general my understanding from several brokers and market makers that placing shares of a low priced stock with a DTC chill is simply not possible with most brokers. Since your post indicates you havent tried yet ( unless I misunderstood) I am unsure how you are expecting to place these shares.
Also if you ahev a way to do this I would be most interested to see how you are able to do !
What financing are you thinking that wouldn't cause dilution ? As discussed previously no bank will provide them working capital or term loans; they cant get smelter contract without showing steady ability to produce which they cant; regular private placement at these prices would require similar discounts if not more and with DTC chill most invesors would shy away.That leaves convertible financing by a firm that has access to institutional or offshore broker/clearing facility.
It really doesnt matter whether they get the permit or not at this point, they indicate they need $3 million to re-activate mill which is unlikely to be secured. Let alone whether they even have ore to mill.
Perhaps I wasnt clear enough. Whatever printed on certificate has nothing to do with whether etrade would accept the certificate for CGFI shares for deposit- as the stock has a DTC chill, plus there is an industry-wide issue with placing low priced stocks,I doubt they can be placed in an etrade account in certifciate form. The otehr method is via DWAC but if CGFI has a DTC chill I doubt they are DWAC eligible.
Metropolitan Mines ( MEMLA) also in a somewhat similar position to Chester in relation to the Sunshine Mine.
If you look at the history of the mine you will see savvy operators locked up these small juniors.
- Sunshine Mining Company owned 51% of Chester, had major ownership in Metropolitan, and bought several surrounding penny juniors. When Sunshine went under, they lost this control.
- When De Motte took over Sterling, he developed relatons with key players in the Silver Valley, and got control of Cheser and major agreement with Metropolitan.
- When Sterling changed management in May 2008 the new people ( Roger Voorhees, Jim Meek)embarked on an inexplicable strategy of getting rid of control of these companies ( hence why Cambell got control of Chester back).
So it is very likely Sunshine Silver will seek control of nearby juniors, and definitely have to have control of Chester. The contracts are based on very old agreements which are not always clear on APEX rights - no mining company wishes to become embroiled in legal challenges to where veins extend onto nearby propertiesm so easier just to buy control.
Other companies that may attract interets in a real silver boom might be ASLM or even SBUM, but CHMN remains best bet followed by MEMLA.
It is so amazing to hear that e-trade will take DTC chill shares of Colorado Goldfields- hence my question to be more precise, do you just think they will or have you actually placed the shares into your account in certifcate form (as there is DTC chill the shares cant be transferred via DWAC).
I have a very hard time believing that e-trade will take CGFI shares for placement in their account, have you actually tried to do this ? This stock has a DTC chill on it which is kiss of death for placing shares in non-institutional brokerage account.
In response,
1. Have been following the juniors for a long time, the 1967-1968 I wasnt around but was a fantastic run, so was 2003-2006 for some stocks. Sterling had an incredible run, so did Chester at same time, American Silver also did well.
2. ILDM was another great run for the patient.
3. Lucky Friday story was best, actually if I recall last bit of Lucky Frday Hecla purchased way over $50.
Problem is now with new rules by clearing agents etc, whole sector dormant but I think Chester will prove the exception.
4. Sunshine Mine- on SEDAR website there is the NI43-101 plan Sterling did as well as that of Sunshine Silver. The original plan De Motte and Mclean put together taken over by Sunshine Silver except they are preparing a massive expansion in capacity. The real kicker is the Sterling tunnel built 2006-2007 which opened up all sorts of new upper country area for exploration.Thi sis in addition to deep targets from 3700 level.
Only wild card is how Campbell chooses to play his cards, hopefully holds out for $5 to $10+ plus per share, and maybe he will release unaudited financials one of these days.He has been around since old Spokane exchange days so he knows his stuff.
I am not quite sure the purpose of posting GO BTDG all the time. Can you provide any support to a positive view about this stock ?
What is your opinion of the CEO claiming to have a MBA ?
Another issue of course is permitting there ae some areas that a permit may never be granted, especially if EPA gets involved- and this often has nothing to do whether local population is pro-mining or not.Very few mining companies will fight the EPA, in fact very few politicians will pick a fight with the EPA either.Since CGI claims this is a zero-discharge plan (or was imposed upon them) maybe some aspects of permitting may be easier.
A good example is the Montanore depost of Mines Management.Noranda had that project for years, and finaly threw up their hands and just walked away and gave project away.(a resource of over 200 million ounces of silver and over 1 billion pounds of copper).
We are now mid-June and some people were posting that the permit only required some additional "paperwork" and could be received in time for a September re-opening. Does anyone still believe that or have any additional information on the status ?
I do not know the particulars of these Colorado Mines, and share the scepticism that this company truly has potential to produce- but conceptually nothing by definition says these mines cant re-open IF they have reserves. Look at the Star-Morning mine of Hecla's, for years people said would never re-open. Or some of activity in Virginia City area in Nevada. Or the Wildcat deposit in Arizona which people said could never solve its metalurgical problems.
My own opinion is that even if techncially there was a possibility of reserves at the nearby mines it would take several years and several million dollars to even to get to reserve status, at best- and I doubt this CFO has the market savvy to manage such a process to raise sufficient capital to do so.
The weird thing is if there were any real basis for the type of resource they quoted, they could have been shouting from the rooftops the potential economcis etc as opposed to presenting a "gross profit" percentage and extrapolating from there.
The company as far as I can see has announced agreements which is doesnt have the financial ability to fulfill, to acquire certain mining projects. Not uncommon in the junior sector- but then one has to look at the probability of whether they can raise the financing, which is and has been extremely doubtful.
Then even if they acquire these properties, is their quantity of material that is economic. So basically yes of course hard to say there is no gold,silver or copper,in these properties, there probably is some. But whether the metals present will be ever economic is another question.
What information do we have ? Some rather fuzzy press releases lacking key details necessary to hazard a guess as to any potential to become reserves, and presented in such a slipshod way and use of supposed NI43-101 guidelines that anyone familiar with such reports would question the validity or merit of what was released to the public.
Then there is a mill, with a first and second against it. It has some value, if only for scrap value of equipment. Does it have an economic value ? We do not know, but it has some promotional value of course.Then there is permitting issues.
If management set and met objectives and intelligently communicated to investors that would be one thing- but this company has a track record of establishing unrealistic projections they havent met.
Maybe what causes the confusion is they put out press releases indicating hyopethetical values of metal in the ground without any even rough estimates of costs to extract. There is a reason why regulatory bodies severely frown on this type of "disclosure". Proof is in the pudding- didnt do company any good anyway.
Maybe if you would answer the basic questions one would have something productive to discuss with CEO.
Let's imagine the situation :
What could one talk about : (a) why is it for 3 years + you havent delivered any sales, cash flow or other result ? (b) why do you issue shares for a business that apparently doesnt exist ?(c) why do you claim an MBA from either a non-existing school, or one that is an outright diploma mill which is worthless ? (d) why do you keep filing financial statements claiming to be GAAP when they are not ?
Why waste CEO's time since except for you and Styker everyone knows the answer ? Please do - to be opened minded, give us 1 , just 1 concrete success this company has had in the last few years- all I can see is recently they reported $25 in revenue. CEO by his own filings doesnt understand basic meaning of GAAP, nor is able to exercise any powers of discenment of what it sheer fantasy or not.
It isnt right for CEI to continue in this role, nor for you to promote this stock to unsuspecting people, unless you can show just 1 single reason to back your repeated promoting of this stock.
CEO may be an excellent technical person,I cant judge. It is obvious though he does not have the ability to turn BTDG around.
Imagine the next press release - someone has indicated that based on the possibilty of someone putting up a billion $ CD, they would then confirm they would irrevocably instruct a bank,when selected and one of top in the world, to issue a standby letter of credit to back a US letter of credit to back a binding letter of intent subject to $500 million being paid for a project escrow account subject to a property being recorded at the court house once a letter was sent from lower patagonia.based on your reasoning this shows a billion $ deal is underway.
Let assume for some bizarre reason your analysis is correct that CEO is a qualified person - please back this up with something
I would be extremely suprised if you dont encounter the hassle I described, it is very common now in the industry. Just my opinion, but to substantiate loss better to go through the process than wait until too late- plus if you dont get in account how can you time your sale for best tax advatage ? Just call any broker and tell them you have a stock with a DTC chill, trading under $.08, that you received in conversion of a class of stock- see if they will even take, and if they do the costs.
As far as the $3,000 limit , if you have capital gains you are not limited to the $3,000 ( i assume this cant be your only investment).
I think you are assuming that it wil be easy to place this stock in brokerage account, I am 99% sure it is not unless you have a fairly unique small institutional brokerage firm. One firm I know charges $600 even to evaluate whether they will accept !
Anyway just my opinion but for reasons stated if I were in your shoes I would start process. as far as stock going up, well after all that has happened and may happen, my opinion hardly likely except for brief spikes.