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.
Explaining The XUA and HUI Gold Index
The Philadelphia stock exchange is where you can get up to the minute updateso n the XUA gold index. The Amex HUI gold index quite often tends to be a very ...sensitve in nature so to speak. That is all folks, Game is now on, I am certain of it
Explaining-the-xua-and-hui-gold-index
PHLX EQUITY OPTIONS - NASDAQtrader.com Home Page
... "PHLX GOLD/SILVER",JAN,XAU,XAU,"Susquehanna Securities","PHLX",XAU, ...
www.nasdaqtrader.com/dynamic/SymDir/phlxoptions.csv - Similar
http://community.nasdaq.com/News/2010-06/goldcore-update-gold-consolidates-in-all-currencies-while-silver-breaks-out.aspx?storyid=25224
Rudd gives ground on mining tax
SHANE WRIGHT, ECONOMICS EDITOR, The West Australian June 19, 2010, 4:25 am
[img]l.yimg.com/ea/img/-/100619/a_220609buspit03-161o8ac.jpg
[/img]
WA mining bosses missing in Africa
June 20, 2010, 3:44 pm
Nine Australian mining executives are missing in west Africa after their plane disappeared.
Board members from West Australian-based iron ore miner Sundance Resources have been in Cameroon in the past few days speaking with officials about the promising Mballa project.
AND NOW
Diggers killed in Afghanistan
June 21, 2010,
Australia has reportedly suffered a "number of casualties" in Afghanistan, with the federal government set to release details shortly.
7News understands as many as three soldiers have been killed in the incident, involving the Special Operations Task Group, which occurred earlier today.
The Minister for Defence, Senator John Faulkner and the Chief of the Defence Force, Air Chief Marshal Angus Houston, will hold a press conference in Canberra at 5pm.
Two Australian soldiers died earlier this month in a roadside bomb blast in Afghanistan.
I guess nobody reads my posts I get schooled in each night, or they get lost from two ago ..AGAIN!
World Capital Market Inc. Finra Our SEC firm NY and KATG and btw. I hope we continue to make the MM's cover and buy their shares consistently higher and higher with great frigging katx news!
"Man all this work this weekend to get schooled in a name change and what is needed. Ken is following the plan to maximize shareholder value to a tee. Thanks again to all who said "godsend..wtf are you talking about....and the lessons learned"
Quote:
How can the OTCBB be used as a Stepping Stone to the AMEX and NASDAQ?
Daily news articles report that it is becoming increasingly difficult for early stage companies to raise capital.
Capital market conditions indicate that this status may continue. Overcoming this condition will require companies to execute a new approach by designing their business plan so it can succeed through raising small rounds of capital in planned follow-on offerings. This process envisions harmonizing a continuous capital-raising effort that begins by funding the company with a small initial round of founders capital, to raising a small private round to raising a larger interim round (PP, 504, Reg. S or bridge loan) to preparing, filing and funding a small SB-2 offering and making the company a publicly traded entity by listing it on NASDAQ’s tier three market, the OTC Bulletin Board and in 2003, transitioning to the BBX. This is a model that will allow companies to create a capital structure that is Wall Street-acceptable and then maximizes the company’s market cap value by making its early milestone becoming publicly traded. The OTCBB, as just one of the OTC programs, can provide companies with the experience needed to fully engage greater exchange entities such as the NASDAQ and AMEX proving to bring a most lucrative growth transition.
INTRODUCTION
There are two trading systems that are separate from the National Market: the Over the Counter Bulletin Board (OTCBB) and the National Quotation Service Bureau (NQS), commonly known as the Pink Sheets. Together, the OTCBB and Pink Sheets make up the OTC market in the United States. The OTCBB and the Pink Sheets are quotation mediums, rather than stock exchanges. OTC securities are traded by a community of market makers who enter quotes and trade reports through a sophisticated, closed computer network. In the last ten years, there has been a dramatic increase in trading using the OTCBB as a critical “stepping stone” to create capital structure and maximize the companies market cap value creating improved business metrics that are worthy of an outstanding NASDAQ or AMEX listing. In this paper, the significance of trading on the OTC Bulletin Board, its potential to move companies into greater exchange possibilities and the fluidity of this process will be explored.
WHAT IS THE OTCBB
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for approximately 3,800 companies. The OTCBB has grown from a daily volume of 29MM shares with $100MM market volume since its introduction in 1990 to more than 40MM shares and $400MM market volume today. Currently the 3,800 companies are traded by nearly 300 market makers, quoting an average of 39,000 positions daily.
All Market Makers subscribing to NASDAQ Level 3 service and in compliance with SEC Rule 15c2-11 are eligible to “voluntarily” participate in the OTCBB and may enter or exit at will. A further breakdown shows 475 banks, 28 insurance companies and 3,265 companies trading; although 25% of the OTC companies have financial SIC codes.
The largest company on the OTCBB is Publix Super Markets with a $9B market cap and $15B in revenues.
Heroes, Inc., as of November 2001, was the smallest, with a $302k market cap and revenues of $6.5m.
Some 2,000 OTCBB companies have an average market cap of $1m or less. OTCBB data is now fed into more than 450,000 Level I terminals. Since 1993, all trades have been reported in real-time, and since January 1999, every company trading on the OTCBB must be a reporting entity.
On Feb. 8, 2001, the SEC approved a proposal prohibiting member firms from trading ahead of customer limit orders. The new issues market in the U. S. is the largest in the world. As such, it has various sectors that appeal to many companies unsuccessful in attracting funds from other markets and/or sources.
This is especially true of firms in high-technology industries. For example, a high-technology company in Asia often prefers to issue securities in the U.S. public markets rather than in its domestic market. There is a venue that even companies in relatively early stages of development can issue securities to the public: the Over-The-Counter Bulletin Board. Biotechnology firms and firms specializing in computers, communications, and related areas have actively participated in this market in the past few years.
Now, the attractiveness of the OTCBB market is causing momentum to build among development stage companies in other industries. Comparing the Bulletin Board with its larger NASDAQ counterparts, one can see the inherent magnetism. Although the OTCBB like NASDAQ does have real-time electronic quotes for domestic issues and does have requirements for issuers to remain listed, it is unlike the NASDAQ in the following important ways. It does not:
•
impose listing standards therefore it has no minimum quantitative listing requirements;
•
assess listing and maintenance fees to issuers;
•
maintain relationships with quoted issuers; and
•
have the same obligations for Market Makers. Because of these material distinctions, the OTCBB is a terrific alternative to venture capital or the traditional underwritten initial public offering of a private company.
HISTORICAL POSITION OF THE OTCBB
As good a fit as the OTCBB is for development stage companies, many issuers wonder why the technique is not more widely used. There are several reasons, chief among which are:
1. The OTCBB’s historic position among other trading platforms.
2. The pervading misconception within the corporate finance community.
3. The media focuses on sound bite size sensationalism. The OTCBB “step-child” image has led to a lack of understanding among issuers and some investors. An important reason why this venue is not more often utilized is simply a lack of education among executives about the process and its benefits. The pervading viewpoint among executives is probably that the OTC market is simply composed of the Bulletin Board and Pink Sheets, the latter still burdened with a less than sterling reputation as an obscure corner of the securities market.
This however, is not true. It’s important to realize what the over-the-counter market really is and just how prevalent it is in the mainstream investment community.
The financial definition of over-the-counter securities refers to securities, which are not
traded on an exchange. For such securities, broker/dealers negotiate directly with one another over computer networks and by phone, and the NASD monitors their activities.
The Bulletin Board is but a small part of the OTC environment; there are several components of the OTC widely used by institutions as well as individuals:
•
Pink Sheets:
A daily listing of bid and ask prices for over-the-counter stocks not included in the daily NASDAQ over-the-counter listings, published by the National Quotation Bureau and used by brokerages.
•
Forex:
An over-the-counter market where buyers and sellers conduct foreign exchange transactions.
•
Intrastate Offering:
An over-the-counter securities offering limited to investors residing within one specific state.
•
Third Market:
Over-the-counter trading of listed securities among institutional investors and broker/dealers for their own accounts, rather than as agents for investors.
•
Pink Sheets, giving rise to the name “the Pink Sheet market.” The origins of the Pink Sheets go back to 1904, when the National Quotation Bureau began as a paper-based, inter-dealer quotation service linking competing market makers in OTC securities across the country. Since that time, the Pink Sheets and the Yellow Sheets (another version of same) have been a central resource for trading information in non-NASDAQ OTC stocks and bonds.
Recently, Pink Sheets has been transformed to utilize the power of the Internet and the advances in web based technology to increase the timeliness of information. In September of 1999, Pink Sheets introduced the Electronic Quotation Service, an Internet-based, real-time quotation service for OTC equities and bonds for market makers and brokers but the Pink Sheets remain outside the purview of the NASDAQ primarily because they are owned and operated by Pink Sheets LLC, a privately owned company.
The NASDAQ National Market is where the big boys, the Intels, Microsofts and Dells of the world trade.
During the first three months of 2000, the percentage of companies with 100% gains raced to over 40% (the average first-day gain was a little over 112%) and fully 16% of deals exceeded 200% gains on day one! These spectacular first day advances attracted an enormous amount of media attention. Unfortunately for the issuing companies, this type of “branding event” is arguably the most expensive marketing a company could ever endure. However, the high initial valuation doesn’t often last, a quick look at the tape now reveals that many of these “high flyers are either no longer in existence or have floundered leaving their management teams and founders with virtually worthless equity and sometime stratospheric tax bills related to options exercise strategies gone awry.
A second factor that attracts headlines is market volatility. The media loves a sound bite and it’s hard to ignore events like the more than $300 billion in wealth that evaporated during the week of April 14 due to the big board nosedive. In addition, this downturn stimulated extensive margin calls that supplied even more fodder for reporters. Although first-day runs and wide swings contribute to the notoriety of select companies, it can also produce the potential for unhappy shareholders. OTCBB companies do not have the market cap to attract the kind of attention that companies trading on exchanges do, which can be advantageous during periods of extreme volatility prevalent in today’s market environment.
Although listing on the OTCBB hasn’t been a popular strategy in the past, it probably will be more broadly utilized in the near future because of the changing dynamics of the securities business and the advent of the BBXSM .
CFOs want a high-valued currency created when share price trends upward but they also want the cash balance that a fairly priced offering provides. OTCBB listing can offer the best of both worlds.
HOW DOES THIS PROCESS WORK?
NASDAQ Listing Requirements:
For initial listing, a company must satisfy one of the following to be in compliance: the stockholders’ equity requirement, the market value of listed securities requirement or the net income requirement. Under Marketplace Rule 4200(a)(19), listed securities is defined as “securities quoted on NASDAQ or listed on a national securities exchange.” Seasoned companies (those companies already listed or quoted on another marketplace) qualifying only under market value of listed securities requirement must meet the market value of listed securities and the bid price requirements for 90 consecutive trading days prior to applying for listing.
Publicly held shares is defined as total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more.
NASDAQ Market Requirements
NASDAQ National Market
(Entry Standards) Market Alternative
Qualitative Standards:
In evaluating listing eligibility, the Exchange also considers qualitative factors such as the nature of a company’s business, market for its products, reputation of its management, historical record and pattern of growth, financial integrity, demonstrated earnings power and future outlook.
Public shareholders and public float do not include shareholders or shares held directly or indirectly by any officer, director, controlling shareholder or other concentrated (10 percent of greater) affiliated or family holdings.
AMEX Market Requirements
Registration Under the Securities Exchange Act of 1934
Full registration required Form 20-F)
THE SUCCESS OF THE OTCBB
The OTCBB is an excellent spring board for becoming a fully reporting company and is an important step towards getting on the NASDAQ SC exchange as exemplified by the number of companies that have gone from the OTCBB to listed exchanges in the past 18 months as opposed to the number of IPOs during 2003.
Until June 18, 2003 Wall Street investment bankers say they had priced either five or seven IPOs in 2003; that’s according to whom you wish to believe. With such a small number of companies going public, it’s hard to believe how the financial press and various financial reporting services can get so confused. The number is now either 6 or 8 for the year! Compare that with the number of companies moving from OTCBB to larger exchanges.
According the AMEX March 31, 2003 weekly activity report, there were 12 companies that listed on AMEX in the first quarter verses 9 in the same period last year. An astounding 75% were upgrades from the OTC Bulletin Board
The NASDAQ had 21 for the same period verses 23 the prior year, while it too had a large
percentage of OTC Bulletin Board listings showing 15 having switched verses 13 from the prior year, or a 15% increase.
The bottom line for candidates is that listing on a bigger exchange is more than ever from OTCBB source.
Additionally, the key to the success of the OTCBB as a stepping-stone to NASDAQ and AMEX is its propensity to ensure a company’s continued growth with a relatively short transition time into a larger exchange program. Here are some personal testimonies from companies who used the OTC Bulletin Board and are now trading on the NASDAQ or AMEX: I. Decorize Inc., (AMEX: DCZ) a home-furnishings importer, went public with a listing on the over-the-counter bulletin board
on July 5, 2001 -- just 16 months after CEO Jon Baker cofounded the company in his horse barn in Springfield, Mo. In December, Baker, 49, applied for the company to make the leap to the
American Stock Exchange which -- with its more rigorous listing requirements -- would increase the likelihood that investment firms like Merrill Lynch and Morgan Stanley would recommend the company’s stock to their institutional and individual clients. Three months later, on March 5 2002, Baker walked into his office and found the Amex approval letter waiting for him. “Getting on the Amex, that changes the world for us,” says Baker.
DECORIZE INC
(AMEX:DCZ) Quote data by Reuters
II. On April 29, 1999, E. David Gable’s improbable dream came true. Carnegie International Corp., a small Internet support and computer telephony holding company he took over three years earlier, graduated from the OTC Bulletin Board to a listing on the American Stock Exchange.
Gable, a former car dealer, even rang the opening bell in honor of the listing for the company he had initially run out of his attic. “This was everything I’d ever worked for,” says the 54-year-old Baltimore native. After he took over in 1996, he took Carnegie public via a so-called reverse merger with Electronic Card Acceptance Corp. (ECAC) and DAR Products Corp. two bulletin-board companies in very different businesses: credit-card transactions and grip technology.
III. Swissray International (SRYL), a Swiss digital x-ray equipment manufacturer, took only 3 months to take Swissray (initially quoted on OTCBB and moved to NASDAQ after 9 months) public via a reverse merger. Afterwards, the company placed two follow-on equity offerings, raising a total of $10 million and thus quickly recouping the initial reverse-merger. During the ensuing three years, Swissray increased its sales 3.5-fold and successfully launched a number of new products. With the total annual sales of $13.2 million, total assets of $24.4 million and equity of $6.6 million, Swissray’s market capitalization reached about $27 million. The shares became actively traded around just 6 months after the reverse merger was completed. At this favorable valuation, the average daily volume was around 2.5 million shares or $3 million. Therefore, Swissray’s entire capitalization turned around in only 9 weeks.
SWISSRAY INTL
(Other OTC:SRYI.PK) Quote data by Reuters
IV. Nutrisystem.com Inc. of Horsham, Pa., which specializes in weight loss programs, completed a reverse merger at the same time it got an infusion of $7.6 million in private money. (Its assets totaled $8.4 million.) “It was early enough in our evolution that private placement was preferable to an IPO,” said Chief Financial Officer James Brown. The stock now trades on the OTC Bulletin Board, but it moved up to the NASDAQ. The NASDAQ application and approval process took about six weeks. The company decided THIN, its new stock symbol, is in and NSCI, the old one, is out; it retained that symbol when it lost its NASDAQ listing. Brown has taken part in an IPO but says the reverse merger “definitely was easier
NUTRI/SYSTEM INC
(OTC BB:THIN.OB) Quote data by Reuters
pj .....................................~~~~~~~~~~~~~~~~~~~~ Go Kat Gold Holdings KATG , KATG lol
Thank God for CornerstoneResources then, and me one step ahead with Rusty .
All we need is one hole on each property and Ken's business buddies gonna come. K
I guess that because Mr. Stead - AS I CALL HIM NOW- not only made His Corporation successful back then, but developed a strong network of freinds and business partners who he wouldn't have to worry about questioning His Honesty and Trust when the right time came - kinda like 10 years in the future right about now.
I don't think he would leave the South Princess amongst other properties behind for his partner. Come on, even with your one post a day - Clowning here will get you thrown - well - I don't know. I have learned much these last 9 months about TOS violations (a jail on the web, huh) - The diff between Malfic and Felsic density and depth..huh, Market makers,/nite shorting and Pinks, huh, new geo reports/ and where to look.
I for one am glad I will be telling my grandkids not to be afraid to call someone in power and ask what they honestly think, Bum on the Street SAME TOO, Clown in the trees..SORRY, but when they say Daddy, I am nervous or scared as all people get without practice. I will tell them of the days, when MR. STEAD would just pick up the phone and say "Hey There, ...How's Colorado, kids and such, then sit and talk with you about Newfoundland and how it came to be, heritage wise, mineral wise, history wise and such for frigging HOURS bud...more than once he offered his hand and kind words to many of us. Some talked, some ignored, and some just did what they do."
So pick apart these properties here and let's play kindergarten. You put the ones Cornerstone has in One Basket ...I will put the ones KATX has in another. Okay. Then we can have our teachers tell us who is right. Sound Fair?.
If you forgot btw was here: http://www.nafinance.com/Listed_Co/english/cornerstone_e.htm
- Note they did have different names way back then. Okay, so I'll take The First 4, sound fair.
- You take ? Well. it is your turn
yadadadadaddadaadad...whatever be prepared for the KATG battle back and forth to make the board balanced as they say. Head's up, Can't be looking down all the time or you will certainly miss out on this one. Tool long for you anyways Mr.
This board is going to be filled real soon with wise investors. The same ones, wouldn't you know are over invested in BVIG's Sister Copper Ticker. All Ken had to do was stake the claims before the big boys came along.
He Did
All he had to do was put himself in the sedimentary geology belt and understand the Bona Vista. Man, heck he lived in the backwoods there, but you know that.
He Did
All he had to do was prove "YOUR" financing for handcamp for the last 8 months over and over.
He Did
Then all was left was getting a Mining Comp to believe in what he had, uplist, and then JV REE's
He Did
Then get NY SEC LAW
He Did
Then get China based Auditng Firm again NY
He Did
He would say the CEO of successful exploration and mining business is not to be afraid to ask questions, Don't get sucked in, Be loyal to what you talk about, and tell the truth. Hey kids Remember this on Father's Day because you are not supposed to act dumb on purpose. Show your heart, and greet with a smile - Godsend is my name for a reason. By the show of kat facebook and the other board"s" I know shareholders believe the same thing as well.
Happy FATHER's DAy GUMP, I will be the first one to just say - Well..- Well. Well. I hope you are good today.
pj
All I know is tomorrow is Father's Day, and my DAD would be proud of the MAN I have become.
If I was posting, excuse my language, but bullsmak every day to people I wake up to every morning for almost a year now, and He noticed that I kept asking the same question over and over and over, all the time to different people who have already answered it, I wouldn't be able to look him in the eyes For One.
And most likely lose all credibility in his eyes. I mean come on, "That Feeling right there, hits me in the stomach even thinking about it" - your own father looking down at you, not saying "you"
particularly. TOS
Check this out re Rusty, Rusty, Rusty, Rusty !!!!! These are a dime a dozen. Here's Rusty's neighbor. LOL. www.cacheexploration.com/home.html
The market cap of this one is less than five million bucks. The Kat properties are old Cornerstone rejects.
THAT IS SOME RED HOT SHEIST FELSIC and MALFIC IN THE MIDDLE
The company is very excited to be able to lay claims over such a favorable area where the geology, sub-aerial mafic and felsic volcanic rocks are the same as that hosting its Rusty Ridge (IOCG) property.…
Large brecciated, hematitic felsic volcanic rocks permeate the southern portion of the new claims creating the same type of environment found on the Rusty Ridge property allowing for the same high potential of another Iron Oxide, Copper-Gold (IOCG) discovery
(For that Bird who wanted it on Rusty and what it is really all about)
investorshub.advfn.com/boards/read_msg.aspx?message_id=51490647
Almost forgot one of the links to the IOCG property images: The best image overall is halfway down the page.lol
Almost forgot one of the links to the IOCG property images: The best image overall is halfway down the page.lol
http://www.ga.gov.au/minerals/research/pubs/presentations/gawler/gaw_ppt_williams_17agc.jsp
http://www.google.com/images?um=1&hl=en&client=safari&rls=en&tbs=isch%3A1&sa=1&q=olympic+dam+3D+inversion+modeling+of+the+airborne+magnetic+data&aq=f&aqi=&aql=&oq=&gs_rfai=
IOCG - One Hole will do it for me. These pictures got me thinking about measuring the Olympic Dam's 3-D magnetic inversion model and compare it to our Rusty Ridge's 3-D Gold and Copper and follow the felsic sheist again.
(For that Bird who wanted it on Rusty and what it is really all about)
(Check out these first couple links on creating your own 3-D Model and Viewer)
And For those Who want to have GeoFun SEARCH free downloads out by dataset or product type.
https://www.ga.gov.au/products/servlet/controller?nationalToggle=&national=include&offPageSelection=false&pager.offset=0&original_offset=0&event=REFORM_PRODUCT_SELECTION&sort=cat_type%2Csub_type&sel_count=0
https://www.ga.gov.au/products/servlet/controller?event=GEOCAT_DETAILS&catno=68802
http://www.ga.gov.au/3dmodels/gawler/model.html
http://www.ga.gov.au/resources/multimedia/3dmodels.jsp
http://www.ga.gov.au/resources/multimedia/world-wind.jsp
If we now start to look at our results, this image shows the observed or measured gravity data used in our inversions. Once the data are inverted, the inversion model is forward modelled to calculate the predicted gravity response of the model. If the inversion has been successful, the two images should be similar.
The simplest inversions are unconstrained and don't use a reference model. But even these can show us some useful geological information. For example, we can look at a 2D slice of calculated susceptibilities in the inversion model at a depth of 1000 m (left). They correspond well with the interpreted basement geology. But because the inversion model is a 3D model, we can also look at cut-away sections of the property distributions (right). Immediately we can see a strong planar feature northwest of Olympic Dam. At the top of basement, this feature corresponds to the position of the Todd Dams Fault, and this is the first time that we have derived clear dip information for this structure.
Soil geochemical anomalies that suggest potential for a body of Iron Oxide +/- Base, Precious and Rare Earth type mineralization, similar in style and setting to the giant Olympic Dam deposit in Australia… A recently completed 3D inversion modeling [shown below] of the airborne magnetic data show a discreet, strong magnetic anomaly underlying the Rusty Ridge area. Coincidental with this are moderate to strong IP chargeability anomalies that suggest either graphite or significant concentrations of sulphides. Graphite can be for the most part eliminated as the rocks are terrestrial, not marine meaning that conductive argillaceous rocks would not be expected in this environment.
Anomalous levels of the Light Rare Earth Elements (LREE) cerium and lanthanum, all present in Olympic Dam (and others), were not only detected in soils but also in rock samples. Other rare earth elements such as Yttrium(Y), Niobium(NB), Zirconium(ZR) along with Uranium, were all detected in both soil and rock samples. In addition, the soil geochemistry also produced anomalies in silver, gold and copper.
The host rocks for most of the mineral occurrences and the unit overlying the most intense portion of the magnetic anomaly is a brecciated, hematitic felsic volcanic rock
After watching this video
It is obvious why Teck is Kens #1 choice for Handcamp
RBC Capital Markets Global Mining & Materials Conference
Speaker: Don Lindsay, President and CEO
Tuesday, June 8, 2010
12:05PM Eastern / 9:05AM Pacific
Access webcast
Download/view presentation slides (1.87MB PDF)
http://www.teck.com/Generic.aspx?PAGE=Investors&portalName=tc
http://www.teck.com/Generic.aspx?PAGE=Investors%20Pages/CEO%20Direct%20Pages/CEO%20Direct%20Q4%202009&portalName=tc
World Capital Market Inc. Finra Our SEC firm NY and KATG and btw. I hope we continue to make the MM's cover and buy their shares consistently higher and higher with great frigging katx news!
"Man all this work this weekend to get schooled in a name change and what is needed. Ken is following the plan to maximize shareholder value to a tee. Thanks again to all who said "godsend..wtf are you talking about....and the lessons learned"
How can the OTCBB be used as a Stepping Stone to the AMEX and NASDAQ?
Daily news articles report that it is becoming increasingly difficult for early stage companies to raise capital.
Capital market conditions indicate that this status may continue. Overcoming this condition will require companies to execute a new approach by designing their business plan so it can succeed through raising small rounds of capital in planned follow-on offerings. This process envisions harmonizing a continuous capital-raising effort that begins by funding the company with a small initial round of founders capital, to raising a small private round to raising a larger interim round (PP, 504, Reg. S or bridge loan) to preparing, filing and funding a small SB-2 offering and making the company a publicly traded entity by listing it on NASDAQ’s tier three market, the OTC Bulletin Board and in 2003, transitioning to the BBX. This is a model that will allow companies to create a capital structure that is Wall Street-acceptable and then maximizes the company’s market cap value by making its early milestone becoming publicly traded. The OTCBB, as just one of the OTC programs, can provide companies with the experience needed to fully engage greater exchange entities such as the NASDAQ and AMEX proving to bring a most lucrative growth transition.
INTRODUCTION
There are two trading systems that are separate from the National Market: the Over the Counter Bulletin Board (OTCBB) and the National Quotation Service Bureau (NQS), commonly known as the Pink Sheets. Together, the OTCBB and Pink Sheets make up the OTC market in the United States. The OTCBB and the Pink Sheets are quotation mediums, rather than stock exchanges. OTC securities are traded by a community of market makers who enter quotes and trade reports through a sophisticated, closed computer network. In the last ten years, there has been a dramatic increase in trading using the OTCBB as a critical “stepping stone” to create capital structure and maximize the companies market cap value creating improved business metrics that are worthy of an outstanding NASDAQ or AMEX listing. In this paper, the significance of trading on the OTC Bulletin Board, its potential to move companies into greater exchange possibilities and the fluidity of this process will be explored.
WHAT IS THE OTCBB
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for approximately 3,800 companies. The OTCBB has grown from a daily volume of 29MM shares with $100MM market volume since its introduction in 1990 to more than 40MM shares and $400MM market volume today. Currently the 3,800 companies are traded by nearly 300 market makers, quoting an average of 39,000 positions daily.
All Market Makers subscribing to NASDAQ Level 3 service and in compliance with SEC Rule 15c2-11 are eligible to “voluntarily” participate in the OTCBB and may enter or exit at will. A further breakdown shows 475 banks, 28 insurance companies and 3,265 companies trading; although 25% of the OTC companies have financial SIC codes.
The largest company on the OTCBB is Publix Super Markets with a $9B market cap and $15B in revenues.
Heroes, Inc., as of November 2001, was the smallest, with a $302k market cap and revenues of $6.5m.
Some 2,000 OTCBB companies have an average market cap of $1m or less. OTCBB data is now fed into more than 450,000 Level I terminals. Since 1993, all trades have been reported in real-time, and since January 1999, every company trading on the OTCBB must be a reporting entity.
On Feb. 8, 2001, the SEC approved a proposal prohibiting member firms from trading ahead of customer limit orders. The new issues market in the U. S. is the largest in the world. As such, it has various sectors that appeal to many companies unsuccessful in attracting funds from other markets and/or sources.
This is especially true of firms in high-technology industries. For example, a high-technology company in Asia often prefers to issue securities in the U.S. public markets rather than in its domestic market. There is a venue that even companies in relatively early stages of development can issue securities to the public: the Over-The-Counter Bulletin Board. Biotechnology firms and firms specializing in computers, communications, and related areas have actively participated in this market in the past few years.
Now, the attractiveness of the OTCBB market is causing momentum to build among development stage companies in other industries. Comparing the Bulletin Board with its larger NASDAQ counterparts, one can see the inherent magnetism. Although the OTCBB like NASDAQ does have real-time electronic quotes for domestic issues and does have requirements for issuers to remain listed, it is unlike the NASDAQ in the following important ways. It does not:
•
impose listing standards therefore it has no minimum quantitative listing requirements;
•
assess listing and maintenance fees to issuers;
•
maintain relationships with quoted issuers; and
•
have the same obligations for Market Makers. Because of these material distinctions, the OTCBB is a terrific alternative to venture capital or the traditional underwritten initial public offering of a private company.
HISTORICAL POSITION OF THE OTCBB
As good a fit as the OTCBB is for development stage companies, many issuers wonder why the technique is not more widely used. There are several reasons, chief among which are:
1. The OTCBB’s historic position among other trading platforms.
2. The pervading misconception within the corporate finance community.
3. The media focuses on sound bite size sensationalism. The OTCBB “step-child” image has led to a lack of understanding among issuers and some investors. An important reason why this venue is not more often utilized is simply a lack of education among executives about the process and its benefits. The pervading viewpoint among executives is probably that the OTC market is simply composed of the Bulletin Board and Pink Sheets, the latter still burdened with a less than sterling reputation as an obscure corner of the securities market.
This however, is not true. It’s important to realize what the over-the-counter market really is and just how prevalent it is in the mainstream investment community.
The financial definition of over-the-counter securities refers to securities, which are not
traded on an exchange. For such securities, broker/dealers negotiate directly with one another over computer networks and by phone, and the NASD monitors their activities.
The Bulletin Board is but a small part of the OTC environment; there are several components of the OTC widely used by institutions as well as individuals:
•
Pink Sheets:
A daily listing of bid and ask prices for over-the-counter stocks not included in the daily NASDAQ over-the-counter listings, published by the National Quotation Bureau and used by brokerages.
•
Forex:
An over-the-counter market where buyers and sellers conduct foreign exchange transactions.
•
Intrastate Offering:
An over-the-counter securities offering limited to investors residing within one specific state.
•
Third Market:
Over-the-counter trading of listed securities among institutional investors and broker/dealers for their own accounts, rather than as agents for investors.
•
Pink Sheets, giving rise to the name “the Pink Sheet market.” The origins of the Pink Sheets go back to 1904, when the National Quotation Bureau began as a paper-based, inter-dealer quotation service linking competing market makers in OTC securities across the country. Since that time, the Pink Sheets and the Yellow Sheets (another version of same) have been a central resource for trading information in non-NASDAQ OTC stocks and bonds.
Recently, Pink Sheets has been transformed to utilize the power of the Internet and the advances in web based technology to increase the timeliness of information. In September of 1999, Pink Sheets introduced the Electronic Quotation Service, an Internet-based, real-time quotation service for OTC equities and bonds for market makers and brokers but the Pink Sheets remain outside the purview of the NASDAQ primarily because they are owned and operated by Pink Sheets LLC, a privately owned company.
The NASDAQ National Market is where the big boys, the Intels, Microsofts and Dells of the world trade.
During the first three months of 2000, the percentage of companies with 100% gains raced to over 40% (the average first-day gain was a little over 112%) and fully 16% of deals exceeded 200% gains on day one! These spectacular first day advances attracted an enormous amount of media attention. Unfortunately for the issuing companies, this type of “branding event” is arguably the most expensive marketing a company could ever endure. However, the high initial valuation doesn’t often last, a quick look at the tape now reveals that many of these “high flyers are either no longer in existence or have floundered leaving their management teams and founders with virtually worthless equity and sometime stratospheric tax bills related to options exercise strategies gone awry.
A second factor that attracts headlines is market volatility. The media loves a sound bite and it’s hard to ignore events like the more than $300 billion in wealth that evaporated during the week of April 14 due to the big board nosedive. In addition, this downturn stimulated extensive margin calls that supplied even more fodder for reporters. Although first-day runs and wide swings contribute to the notoriety of select companies, it can also produce the potential for unhappy shareholders. OTCBB companies do not have the market cap to attract the kind of attention that companies trading on exchanges do, which can be advantageous during periods of extreme volatility prevalent in today’s market environment.
Although listing on the OTCBB hasn’t been a popular strategy in the past, it probably will be more broadly utilized in the near future because of the changing dynamics of the securities business and the advent of the BBXSM .
CFOs want a high-valued currency created when share price trends upward but they also want the cash balance that a fairly priced offering provides. OTCBB listing can offer the best of both worlds.
HOW DOES THIS PROCESS WORK?
NASDAQ Listing Requirements:
For initial listing, a company must satisfy one of the following to be in compliance: the stockholders’ equity requirement, the market value of listed securities requirement or the net income requirement. Under Marketplace Rule 4200(a)(19), listed securities is defined as “securities quoted on NASDAQ or listed on a national securities exchange.” Seasoned companies (those companies already listed or quoted on another marketplace) qualifying only under market value of listed securities requirement must meet the market value of listed securities and the bid price requirements for 90 consecutive trading days prior to applying for listing.
Publicly held shares is defined as total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more.
NASDAQ Market Requirements
NASDAQ National Market
(Entry Standards) Market Alternative
Qualitative Standards:
In evaluating listing eligibility, the Exchange also considers qualitative factors such as the nature of a company’s business, market for its products, reputation of its management, historical record and pattern of growth, financial integrity, demonstrated earnings power and future outlook.
Public shareholders and public float do not include shareholders or shares held directly or indirectly by any officer, director, controlling shareholder or other concentrated (10 percent of greater) affiliated or family holdings.
AMEX Market Requirements
Registration Under the Securities Exchange Act of 1934
Full registration required Form 20-F)
THE SUCCESS OF THE OTCBB
The OTCBB is an excellent spring board for becoming a fully reporting company and is an important step towards getting on the NASDAQ SC exchange as exemplified by the number of companies that have gone from the OTCBB to listed exchanges in the past 18 months as opposed to the number of IPOs during 2003.
Until June 18, 2003 Wall Street investment bankers say they had priced either five or seven IPOs in 2003; that’s according to whom you wish to believe. With such a small number of companies going public, it’s hard to believe how the financial press and various financial reporting services can get so confused. The number is now either 6 or 8 for the year! Compare that with the number of companies moving from OTCBB to larger exchanges.
According the AMEX March 31, 2003 weekly activity report, there were 12 companies that listed on AMEX in the first quarter verses 9 in the same period last year. An astounding 75% were upgrades from the OTC Bulletin Board
The NASDAQ had 21 for the same period verses 23 the prior year, while it too had a large
percentage of OTC Bulletin Board listings showing 15 having switched verses 13 from the prior year, or a 15% increase.
The bottom line for candidates is that listing on a bigger exchange is more than ever from OTCBB source.
Additionally, the key to the success of the OTCBB as a stepping-stone to NASDAQ and AMEX is its propensity to ensure a company’s continued growth with a relatively short transition time into a larger exchange program. Here are some personal testimonies from companies who used the OTC Bulletin Board and are now trading on the NASDAQ or AMEX: I. Decorize Inc., (AMEX: DCZ) a home-furnishings importer, went public with a listing on the over-the-counter bulletin board
on July 5, 2001 -- just 16 months after CEO Jon Baker cofounded the company in his horse barn in Springfield, Mo. In December, Baker, 49, applied for the company to make the leap to the
American Stock Exchange which -- with its more rigorous listing requirements -- would increase the likelihood that investment firms like Merrill Lynch and Morgan Stanley would recommend the company’s stock to their institutional and individual clients. Three months later, on March 5 2002, Baker walked into his office and found the Amex approval letter waiting for him. “Getting on the Amex, that changes the world for us,” says Baker.
DECORIZE INC
(AMEX:DCZ) Quote data by Reuters
II. On April 29, 1999, E. David Gable’s improbable dream came true. Carnegie International Corp., a small Internet support and computer telephony holding company he took over three years earlier, graduated from the OTC Bulletin Board to a listing on the American Stock Exchange.
Gable, a former car dealer, even rang the opening bell in honor of the listing for the company he had initially run out of his attic. “This was everything I’d ever worked for,” says the 54-year-old Baltimore native. After he took over in 1996, he took Carnegie public via a so-called reverse merger with Electronic Card Acceptance Corp. (ECAC) and DAR Products Corp. two bulletin-board companies in very different businesses: credit-card transactions and grip technology.
III. Swissray International (SRYL), a Swiss digital x-ray equipment manufacturer, took only 3 months to take Swissray (initially quoted on OTCBB and moved to NASDAQ after 9 months) public via a reverse merger. Afterwards, the company placed two follow-on equity offerings, raising a total of $10 million and thus quickly recouping the initial reverse-merger. During the ensuing three years, Swissray increased its sales 3.5-fold and successfully launched a number of new products. With the total annual sales of $13.2 million, total assets of $24.4 million and equity of $6.6 million, Swissray’s market capitalization reached about $27 million. The shares became actively traded around just 6 months after the reverse merger was completed. At this favorable valuation, the average daily volume was around 2.5 million shares or $3 million. Therefore, Swissray’s entire capitalization turned around in only 9 weeks.
SWISSRAY INTL
(Other OTC:SRYI.PK) Quote data by Reuters
IV. Nutrisystem.com Inc. of Horsham, Pa., which specializes in weight loss programs, completed a reverse merger at the same time it got an infusion of $7.6 million in private money. (Its assets totaled $8.4 million.) “It was early enough in our evolution that private placement was preferable to an IPO,” said Chief Financial Officer James Brown. The stock now trades on the OTC Bulletin Board, but it moved up to the NASDAQ. The NASDAQ application and approval process took about six weeks. The company decided THIN, its new stock symbol, is in and NSCI, the old one, is out; it retained that symbol when it lost its NASDAQ listing. Brown has taken part in an IPO but says the reverse merger “definitely was easier
NUTRI/SYSTEM INC
(OTC BB:THIN.OB) Quote data by Reuters
pj .....................................~~~~~~~~~~~~~~~~~~~~ Go Kat Gold Holdings KATG , KATG lol
I think we going to have our new FINRA ticker some time early this week, Maybe as early as Monday KATG is going to get our wonderful CEO on board the BB
Sorry for the confusion today. Got schooled in Nevada SOS this weekend. LOL
...........PJ.....people will soon be saying Ronald Davis/ Ronald who? Bella Who? "many don't realize how many corporations are under the registered agent of VAL-U-CORP SERVICES, INC. Try 4346 different companies. I will be looking for KATG here Sunday night until it pops up.
http://secretaryofstate.biz/SOSEntitySearch/RACorps.aspx?fsnain=9e8ULhHToF6%252bDAzN6FdhkQ%253d%253d&RAName=VAL-U-CORP+SERVICES%2c+INC.
With Ken and Tim both listed as CEO/Director and Treasurer. Bell'as time is about up and about us about time going into our new Entity on the BB with Handcamp drilling the following week.
Does anyone know that if and when a company say starts trading under its new name ticker symbol, with a recently updated current 8k going back to 2005, and with a IMHO BAD MOTHER in regards to our Future Auditing Firm, - - WILL THE RECORD DATE COME ALONG WITH THE DIVY'S AS WELL?
Michael Bongiovanni and associates CPA who also specialize in China ......huh......We seem to be getting ready for maybe a dual listing as well. Google him a friend said and his Auditing firm Rocks http://people.forbes.com/profile/michael-j-bongiovanni/104912
Bongiovanni and Associates: Man I love that GREENTree Dude
Rick ---PURCHASE AGREEMENT JV on Handcamp katgold
Management’s Discussion and Analysis or Plan of Operation
Plan of Operation
Over the next twelve months, the Company expects to maintain all of its six mineral properties and possibly acquire one additional gold property. The Company intends to drill at least one gold property in a joint venture pending the availability of additional financing. The Company’s current budgeted cash requirements of $650,000 will allow it to maintain its existing mineral properties and to drill on the gold property. With the Company’s on-going financing campaign, it is anticipated that the Company can increase its budget requirements and continue to acquire attractive mineral properties. The Company will continue to employ its current 5 employees along with engaging the services of a geologist on the monthly contract beginning in the second quarter of 2010.
JV BABY!!!!GOLD
The Company intends to drill at least one gold property in a joint venture pending the availability of additional financing.
THIS AGREEMENT made at the City of Mount Pearl, in the Province of Newfoundland and Labrador, this 28th day of May, A.D., Two Thousand Ten (the “Agreement”).
Compare this to www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7299124
BETWEEN:
BELLA VIAGGIO, INC., a Nevada corporation with its head office located at 1149 Topsail Road, in the City of Mount Pearl, in the Province of Newfoundland and Labrador, Canada, A1N 5G2 (the “Grantee”);
AND:
KAT EXPLORATION INC., a Nevada Corporation with its head office located at 1149 Topsail Road, in the City of Mount Pearl, in the Province of Newfoundland and Labrador, Canada, A1N 5G2 (the “Grantor” and collectively with the Grantee, the “Parties”)
WHEREAS the Grantor is the recorded and beneficial owner of the Handcamp Gold property which comprises 149 mineral claims in 3 separate licenses being license number 011745M (11 Claims), license number 017308M (86 Claims) and license number 017485M (52 Claims) located in NTS map 12H/08 for Rocky Pond, in the Province of Newfoundland and Labrador, Canada (hereinafter called the “Property”);
AND WHEREAS the Grantee has requested the Grantor transfer all its rights, title and interest in the Property to the Grantee in consideration for the Grantee issuing to the Grantor 161,000,000 restricted common shares (the “Shares”) of the Grantee and the Grantor has agreed to the said request;
Per: Ken Stead
Read more: http://www.faqs.org/sec-filings/100604/Bella-Viaggio-Inc_8-K/c61820_ex2-1.htm#ixzz0rI8Eshrz
Biochem. Katx Cusip Number - Not sure if you have this but read: JV GOLD Property
KAT EXPLORATION, INC.
DATED: April 19, 2010
CUSIP NUMBER: 48238M104
The Company intends to drill at least one gold property in a joint venture pending the availability of additional financing.
3 days after this: Bella Viaggio, Inc. entered into a Securities Purchase Agreement dated as of April 16, 2010 with Kenneth Stead (PURCHASER) and Ronald A. Davis and Ronald G. Brigham (PRINCIPAL SELLERS),
- SO QUESTION IS WHY ARE THE SELLERS SWITCHED NOW AS OF JUNE 4TH 8K----
Management’s Discussion and Analysis or Plan of Operation
Plan of Operation
Over the next twelve months, the Company expects to maintain all of its six mineral properties and possibly acquire one additional gold property. The Company intends to drill at least one gold property in a joint venture pending the availability of additional financing. The Company’s current budgeted cash requirements of $650,000 will allow it to maintain its existing mineral properties and to drill on the gold property. With the Company’s on-going financing campaign, it is anticipated that the Company can increase its budget requirements and continue to acquire attractive mineral properties. The Company will continue to employ its current 5 employees along with engaging the services of a geologist on the monthly contract beginning in the second quarter of 2010.
Frequently Asked Questions
Can any company go public?
Yes, virtually any company can go public with their own trading symbol on the OTC Bulletin Board or Pink Sheets.
Does the SEC care that my company is a start-up or development stage company?
No. They only care that everything is filed correctly and that all disclosures are made.
Does the SEC care that your company does not have the funds to implement your business plan?
No. The SEC doesn’t care about your financial ability to implement your business plan as long as it’s fully and accurately disclosed and you actually intend to implement the business plan described in your filing.
Does the SEC care you or the other officers or directors has had a personal or business bankruptcy?
No. But it must be disclosed.
Does it matter how large your auditing firm is?
No. the SEC only cares that your auditor is registered as a PCAOB auditor.
How long does it take to go public direct on OTC Bulletin Board or Pink Sheets?
It typically takes about 6 to 8 months to become a trading company on the OTC Bulletin Board or Pink Sheets by direct filings, start to finish. Much of this depends on the speed in which you answer questions and provide information when requested.
How is the initial price of the stock determined?
The initial stock price is determined by the market maker with approval of FINRA. The initial price is based on several factors including the price of the last public offering, assets, and other considerations. The initial price is largely irrelevant, as the first orders in the system will set the price of the stock. In other words, the initial quote price of a stock typically has a very large spread, or difference between the bid and offer price. For example, it may be 2 cents bid by 50 cents offer/ask. But once buy and sell orders enter the system, the quote will reflect those orders.
How long does it take to do a reverse merger into a public shell company?
It typically takes only a few weeks to complete a reverse merger into a public OTCBB or Pink Sheet shell company and begin trading.
Will you be successful in taking us public?
The short answer is, YES! The SEC reviews registration statement but does not make any subjective on the merits of your filing. They review to assure that all of the information required by the rules and regulations is included. The SEC does not block registration statements. As long as the control persons of your company don’t have issues that you have not disclosed to us, and as long as you are cooperating with us and responding to our information requests during the process, you will become publicly traded. If you do have issues, like felonies or past issues with regulators, if you disclose it, we can let you know if we think we can get you public ahead of time.
Can you list a foreign corporation directly on the OTCBB?
Yes, the filing is different for a foreign corporation that wishes to go public direct on the OTCBB or Pink Sheets and the cost is a bit more. Instead of an S-1 registration, we would file a F-1 registration statement, which is a completely different document, with more SEC review than the S-1.
Do you raise money for me when you take us public?
No, we take companies public by self-filings and reverse mergers. No money is raised as an actual part of those processes. Although many times a reverse merger will be accompanied by a contingent simultaneous funding. That said, we do have many real contacts that can raise money, so long as your company meets certain criteria. And yes, we have successfully found funding for our clients.
What is an Accredited Investor?
If an individual, the individual's annual income during each of the prior two (2) years must have exceeded $200,000 (in each case including foreign income, tax exempt income and full amount of capital gains and losses but excluding any income of other family members and any unrealized capital appreciation) and would need to be reasonably expected that their individual annual income during the current year would also exceed $200,000.
-or-
If an individual, the individual's joint (with spouse) annual income during each of the prior two (2) years must have exceeded $300,000 and ould need to be reasonably expected that their individual annual income during the current year would also exceed $300,000.
-or-
If an individual, the individual's or joint net worth must exceed $1,000,000. (Explanation: In calculating net worth you may include equity in personal property and real estate, including your principal residence, cash, short term investments, stock and securities. Equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property.)
Who pays for the company’s audited financials?
You pay for your own audit. We can recommend experienced auditors if you need one.
How much does the financial audit cost?
An audit can cost anywhere from $5,000 for a brand new corporation to $100,000 or more for an extremely complicated company audit.
What is the difference between the Pink Sheets and the OTC Bulletin Board (OTCBB)?
The Pink Sheets and the OTC Bulleting Board are competing quotation services for OTC securities. The Pink Sheets is a privately owned company, while NASDAQ operates the OTCBB. Unlike the OTCBB, issuers do not have to be fully reporting companies with the Securities and Exchange Commission (SEC) to be quoted on the Pink Sheets. Because of this greater transparency, it is widely accepted as fact that the OTCBB is a better trading market than the Pink Sheets. Thus, we highly recommend that you go public on the OTCBB.
What is a CUSIP number and does my company require one?
CUSIP stands for Committee on Uniform Securities Identification Procedures. A CUSIP number is a nine digit number issued by Standard & Poors in the United States and CDS in Canada. A CUSIP number uniquely identifies the issuer and the security and is used by the financial community as an identifier for their computer systems. A CUSIP number is a requirement for eligibility for the booked based system in the United States.
What is an ISIN number and does my company require one?
ISIN stands for International Securities Identification Number. An ISIN is a 12-character alpha-numerical code which does not characterize financial instruments but serves as a uniform identifier for security trades and settlements. The Canadian Depository for Securities (CDS) has adopted the ISIN as its standard identifier for security trade and settlement in Canada.
What difference does it make if a public shell company is a 1933 Act company or 1934 Act company?
1934 Act companies are subject to proxy rules in order to provide the quote. You can tell the difference in public shells by the file number of the public company. The file number for 1933 companies contains the numbers '333' whereas for 1934 companies, the file number is '0'
What does 'piggyback qualified' mean?
When describing a public shell company, a "piggyback qualified" security is one that meets the frequency-of-quotation requirement described in SEC Rule 15c2-11(f)(3). The frequency-of-quotation test or "piggyback" exception is based on whether a broker/dealer has itself published quotations in the security in the applicable inter-dealer quotation system on at least 12 business days during the preceding 30 calendar days, with not more than four consecutive business days without quotations. Once this criteria has been satisfied, authorized participants may register on-line in a security. As long as the security remains piggyback qualified, any participant may quote the security without a Form 211 submission
What are “Footnote 32 Shells”?
Footnote 32 is part of the SEC rule-making passed in June, 2005. The rule provided a clear definition of a ‘shell company’, defining it as a shell company as one with no or nominal operations and/or nominal assets (other than cash). Opponents of Footnote 32 shells claim that they are merely business plans created for the sole purpose of selling the shell after it gains trading status. They believe there are only 2 legitimate ways to create a public shell, 1) through Rule 419 (the old “blank check” company rules which require SEC approval at the time of creation and the time of the private company acquisition), or 2) filing a Form 10-SB to create a reporting company whose business plan is to acquire an operating business. The problem is that shells manufactured in both these ‘legal’ manners cannot obtain a trading symbol before the reverse merger (except for the SPAC, which raise a substantial amount of money and are allowed to trade so long as the price is $5.00 or greater). The problem they have with is that it puts honest shell sponsors who follow the law of Rule 419 and 10-SB at a big disadvantage because such shells do not have a ticker symbol and do not trade yet. Public shells that are already trading command a big price premium over non trading shells because they are already trading and have a ticker symbol so the buyer saves a substantial amount of time and expense by avoiding the filing of a registration statement. Some opponents to Footnote 32 shells believe that the SEC is scrutinizing these types of shells. This is simply not true. There is simply no way the SEC can determine the original intent of the public shell registrant? Moreover, the job of the SEC is to review the registration statement for accuracy and proper disclosure, not to police the intent. That said, a phony business plan Footnote 32 Shell is not a good thing. Although Footnote 32 shells have free trading stock because they was created through a filing with the SEC under the 1933 “Selling Stock” Act, the company's business plan was phony, meaning the company didn't really intend to enter in to the business as claimed. In this case, the filing is a deception to get around the law and inappropriately and illegally create a trading shell. The SEC has said in Footnote 32 to a 2005 Release concerning shell companies that it is illegal to create a shell this way.
What is a “Form 10 Shell”?
Form 10 Shells, sometimes referred to as “Virgin Shells”, are shells that do not trade. Form 10 shells also have no free trading stock because they have no stock registered under the 1933 “Selling Stockholder” Act.
What is a “SPAC” (Special Purpose Acquisition Companies)?
Theoretically, the SEC does not allow ‘manufactured’ Public Shells to trade under Rule 419. However, if the public shell has over $5,000,000 in net assets and a stock price of $5.00 or greater, it can trade under the Penny Stock Rules. These shells are great if you can raise $5,000,000.
What does DTC Eligible mean?
DTC stands for Depository Trust & Clearing Corporation. Stocks held by DTC are kept in the name of its partnership nominee (Cede & Co.). Not all securities are eligible to be settled through DTC ("DTC-eligible"). First a little history: DTC eligibility used to be almost automatic after a company cleared its registration statement and its 15c2-11. One of the company shareholders would deposit their shares with their broker, who would apply for DTC-eligibility through a clearing firm affiliated with DTC. Once done, the stock could then be bought and sold electronically through brokers or online. Recently, this ‘automatic’ DTC eligibility approval by DTC is no longer occurring for many smaller companies going public. Some are having trouble even finding a broker or clearing firm even willing to submit the DTC-eligibility application. The cause of the change is easy to pinpoint, but as usual, the reaction by DTC, clearing firms, and brokerages is not so easy to understand. In Jan 2009, FINRA issued a notice to its broker-dealer members reminding the of their responsibility to insure federal securities laws and FINRA rules are complied with when they are participating in the sales of unregistered securities. Since these brokerage firms were charged with investigating the stock issuances of issuers to make certain there were no unregistered distributions, smaller companies were immediately hit the hardest, because they have the shortest operating histories and are more likely to trigger red flags with FINRA. The end result is that it has left many companies, and even attorneys, at a loss as to how to become DTC-eligible. The problem is that many shareholders of these non-eligible companies cannot deposit or trade their shares. Obviously, this is a huge problem. We have also heard that name changes or stock splits or other things that cause companies to obtain a new CUSIP would also cause the company to be required to re-apply for DTC eligibility. In a nutshell, a company needs to be 'real' and not a 'shell' in order to become DTC eligible.
What is a “Blank Check Company”?
A blank check company is a development stage company with no specific business plan or purpose or one that has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies. Even though this company is created through a filing with the SEC under the 1933 “Selling Stock” Act, the SEC’s Rule 419 specifically provides that, even though registered, stock in this kind of a shell cannot trade so long as the company is a shell company. These shells are no good.
How do I complete a reverse merger?
Our securities attorneys can provide everything needed to complete the merger including but not limited to due diligence, restructuring, share purchase agreements and name and symbol changes.
Question for Handcamp - Can you borrow a shell and then move up. Ronald Davis and Ken Stead?
http://www.otcmarkets.com/stock/BVIG/company-info
http://www.faqs.org/sec-filings/100504/Bella-Viaggio-Inc_8-K/
http://nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=Ji6hnCJCRNX541ZMO6c0Rg%253d%253d
keep looking.....
BVIG Keep looking.....
http://nvsos.gov/sosentitysearch/corpsearch.aspx
White Cobra ~~ Still looking and searching new shells?
Balihi. With much Respect - and I know you have an answer. Does it have to do with BMX? Ding Ding. I know you watch this especially and have much love for your inside KAT DD some do not listen to until it is out - so can you tell us Please.
PJ
BTW - Gone all day with the kids at the amusement park: Kiddie pools are not made for Daddy's some one told me tonight, as I was the only one who got hurt. lol
my favorite part from today:
Results thus far have allowed for a much better understanding of the structures and mineralized zones at the Handcamp Property which has assisted in identifying new drill targets and in determining orientation of holes in the drill program.
Ground geophysics and high resolution Geological Survey of Canada airborne magnetic survey that was completed in 2005 has assisted our geologist in outlining several northeast trending highs that correlate with structures that host mineralization in the area.
KAT Exploration has already received the drilling permit from Newfoundland Department of Mines & Energy to carry out the drilling. Our geologist Mr. R. James Weick outlined the drilling targets based on approximately 20 kms of Induced Polarization (IP) that was recently completed over various sections of the grid and airborne magnetic data. The final stages of trenching will commence on June 21st, 2010.
Californicator...With your response...Slovakian Katx also rules Mate
Charts have their business here...just look at trader's comments
investorshub.advfn.com/boards/read_msg.aspx?message_id=51433311
When this thing blows....we are gonna laugh at this 50% pullback and say "How petty that was....glad I wasn't stupid enough to get spooked out of my shares at the bottom" Well......I guess all except for those who did sell down here. MO .......rule
Posted by: tradersrule Date: Wednesday, June 16, 2010 2:29:48 AM
In reply to: None Post # of 64071
This pattern is setting up very similar to January's spike and subsequent consolidation to around half the value of the peak. It then proceeded to ride the 50day for awhile, hovering just above the gap between .05 and .06. We may see the same pattern here....with the gap at .10 and the 50day being .12ish and rising. I wouldn't expect that the consolidation period be nearly as long, however, with drilling expected any time now...and with results soon to follow....which will be HUGE news. JMO and observation .....rule
And Daggfish: Congrats....on the new mod board. I hope we catch some big fish here.
I want this to be the last post of my Ihub career this morning! LOL
In reply to: godsend74 who wrote msg# 64626 Post # of 64664
I have been in since Nov. Am I going to set a gtc sell order? No, as there is no reason to do so. If it makes some people feel better than by all means have at it.
Doesn't Anyone Remember where the $5Million Dollars in Financing came from: A group of private investors, out of Vancouver at 10 cents. That is why people bought in Januaray and why KATX - not KATG, will not break past this. - Ask yourselves who is buying at .11 and .10,
Answer - The Investors
VMS GOLD - Another Huge Gold Find ------felsic that is. Plate upon plate upon plate
Intersected 65.7 meters grading 18.2 g.t au and 79.6 meters grading 4.61 g/t au
Creso Explorations CXT Best N1 and new drill holes just added!
pj -
Hey Doubloon - You know not advertising the other one's. Thanks , my friend.
VMS GOLD - Another Huge Gold Find ------felsic that is. Plate upon plate upon plate
Intersected 65.7 meters grading 18.2 g.t au and 79.6 meters grading 4.61 g/t au
God, Has smiled on all of us, We are going to rock out another N! with just a couple more drill Holes ranging over 80meters again! Watch for the JV
Show of Solidarity is what it is about, Whether it works or not. Welcome . or Why not . No biggie
PJ and the rest
Well then Er0ck. You In? Show of solidarity
Grahamber...Now I have to reply again from early this morning to some who didn't think it was so funny.
From Ken again: "I am glad I am sitting next to you" We open BIG - my prediction...
Starting the morning off ..where are the borrowed shares are sort of lost so to say. Finally start closing Green Again.
Bob has been Right. All along before you even knew about the Copper among others.
---------Sorry change the subject It is about Market Maker to Market Maker Shorting------
Get him back onboard the Kat train if you really want a discussion. Hell jB is over on Facebook lol
Wait for the Rusty Ridge assay and newest trenching results....coming next......
Watch the movie: take a break and watch
http://www.deepcapturethemovie.com/
http://www.facebook.com/pages/Kat-Exploration/283084523208?v=wall
~~~~~~~The Real Investor's are here
Er0ck...I would watch out with what you are saying.
Power is Power whether Facebook Ihub or Wall Street. People and Investors listen
BIO WILL Explain it all to you
BTW " What is your opinion on nasdaqtrader and uplisting alongside the Philadelphia Stock exchange Turn it up or could put a song in for you too
[Suppressed Sound Link]
Bob has said this time and time and time again. Bob has also proven he knows very very very little about stock trading time and time and time and time again. I and many other people on here have told bob the facts, we have showed him the actual laws that brokers have to follow, we have showed them statements from brokers that have said they do not even allow this at their firm, and he still thinks that doing this has some effect on naked short selling.
He has no understand on how this works nore does he want to actually learn. He also mostliekly doesn't even understand short selling, or naked shorts and how they work.
Bob is 1000000000% WRONG about this and has been told that many times before on here. Don't believe me? Call your own broker and ask them about their policys on this.
For Those who think Feasability Studies are the only thing Read Biochem's Examples:
The seven dynamos we feature here have some of the brightest minds in the mining business. They are very different men but each is driven, opportunistic, well educated, well-connected, passionate, overtly competitive and, in most cases, workaholic. And, while few would admit it, luck has played a role in their success.
Cumulatively, they have made themselves and their investors billions.
Robert Friedland
Robert Friedland is a legend. If you don't believe us, go ahead and ask him yourself.
But, seriously, he is. Born in Chicago to a Germanborn architect, he found his way into an industry always in need of promoters, and Friedland may just be the best one this industry has ever seen.
His unparalleled gift for promotion once had nickel heavyweights Inco and Falconbridge outbidding and out-shouting each other for the right to own the robust Voisey's Bay nickel deposit in Labrador. When the dust finally settled, Inco paid $4.3 billion (about $160 per share on a pre-split basis) for Diamond Fields Resources and a nickel deposit that Inco would later take a $1-billion writedown on before it developed the asset in 2005. It's said Friedland himself pocketed more than $500 million in the deal.
But before that, in 1992, he led the discovery and subsequent sale of Fairbanks Gold's Fort Knox gold deposit in Alaska to Amax Gold for US$152 million. Fort Knox is now owned by Kinross Gold (K-T), and has produced roughly 4 million oz. gold since 1996.
In the early 1990s, as chairman of Galactic Resources, Friedland became derisively known as "Toxic Bob" for a cyanide spill at the Summitville gold mine in the San Juan mountains of Colorado. But before the problems set in, Friedland had Galactic investors making as much as 10 times their money.
Then there was Vengold (Venezuela Gold), run by Ian Telfer, but that story did not turn out so well when Vengold's concessions in Venezuela's Kilometer 88 district proved barren.
In 2006, The Northern Miner named Friedland the "Mining Person of the Year" for his efforts with Ivanhoe Mines (IVN-T).
Ivanhoe's core asset is the 12-km-long system of copper- gold deposits discovered at the Oyu Tolgoi project in southern Mongolia. Ivanhoe Mines and Rio Tinto (RTP-N) formed a partnership in 2006 to develop Oyu Tolgoi. Rio Tinto paid US$303 million for an initial 9.9% stake in Ivanhoe, which Rio Tinto may increase to up to 46.6% through a total investment of US$2.3 billion inside five years.
Farther west in southern Mongolia, Ivanhoe's major coal discoveries at the Ovoot Tolgoi project were transferred in 2007 to SouthGobi Energy Resources (SGQ-V).Friedland memorably dubs the deposits the "beluga caviar of coal."
As co-chairman and controlling shareholder of private firm Ivanhoe Nickel & Platinum (Ivanplats), Friedland is involved with several mining projects, including the Kamoa copper project, west of Kolwezi, in the Democratic Republic of the Congo's Katanga province.
Friedland jumped into the headlines again in early May when he became chairman of Potash One (KCL-T), a Vancouver-based junior that hopes to build Saskatchewan's first potash mine in almost 40 years.
Potash mines are expensive, however, and it's thought that Potash One will need $1 billion to put its Legacy project into production.
Potash One plans to mine Legacy using "solution mining," a process by which water is poured into the deposit and the potash is then separated from the rock. A conventional, shaft-driven underground potash mine can cost more than $3 billion.
Friedland was previously involved with Potash North Resource before it was bought by Potash One earlier this year.
Biggest success:
Coaxing $4.3 billion out of Inco for the Voisey's Bay nickel deposit without first securing a development deal with the Newfoundland government.
Current Boards:
Ivanhoe Capital (Private): Chairman
Ivanhoe Energy (IE-T):Chairman, president and CEO
Ivanhoe Mines (IVN-T):Chairman
Ivanplats (Private):Co-chairman
Potash One (KCL-T):Chairman
André Gaumond
André Gaumond is the president and CEO of Québec City-based Virginia Mines (VGQ-T) and maybe the nicest guy on the list.
A geological engineer with a master's degree in geological economics, Gaumond has worked as a geologist for several organizations, including Noranda, Quebec government firm SOQUEM, and for the Quebec government itself.
In the late 1980s, he worked at Pemberton Securities and later Midland Walwyn as a mining analyst. In 1990, he joined Corpomin Management as a technical and financial adviser, where he held a few senior management positions in different mining exploration companies.
Gaumond reorganized Virginia Gold Mines in 1992 and became president of the company. It was in this capacity that he led his exploration team to the James Bay lowlands of northeastern Quebec.
It was there that Gaumond and his team discovered the Éléonore gold deposit that led to the US$420 million acquisition of Virginia Gold Mines by Goldcorp (G-T) in 2005.
It proved to be quite a deal for the junior. Despite lucrative overtures from Goldcorp, not one person left Virginia to work for the major. And in April of this year, the current version of Virginia starting receiving $100,000 per month from Goldcorp based on a sliding-scale royalty agreement built into the sale.
Analyst Eric Lemieux with Desjardins Securities has crunched the numbers and says the royalty is worth at least $65 million and could be worth as much as $175 million.
Virginia still has a list of properties in the James Bay lowlands, chief among them the Coulon base metals project. Expect to see a resource estimate on Coulon by the end of the year.
Virginia also signed an exploration agreement with MacDonald Mines Exploration (BMK-V) whereby the junior has the option to acquire a 50% interest in Virginia's Assinica property in exchange for $2.5 million in exploration work to be carried out during the next four years. Virginia also gets $130,000 cash and remains the operator. Assinica consists of one block of 79 claims totalling 4,073 hectares. Gaumond received the title of Quebec Entrepreneur of the Year in 2005 for his achievements regarding the Éléonore project, and was named "Mining Person of the Year" by The Northern Miner.
In 2006, the Prospectors and Developers Association of Canada presented him with the Canadian Prospector of the Year Award.
Gaumond is on the PDAC board and is a member of several professional associations, among them the Quebec Order of Engineers.
Biggest Success:
Selling a gold deposit without a feasibility study to Goldcorp for almost half a billion dollars.
Current Boards:
Detour Gold (DGC-T):Director
Virginia Mines (VGQ-T): President, CEO and director
Michael Kenyon
Michael Kenyon may never be mistaken for being the nicest man in the mining business, but it's quite certain he is one of the shrewdest.
While it's difficult not to mention him in the same breath as Roman Shklanka, his long-time business partner and associate, Kenyon has experienced too much success to attribute it exclusively to good fortune, good circumstances or good friends.
Kenyon was a founding director of Sutton Resources and president and CEO of the African explorer from 1983 until Barrick Gold (ABX-T) bought the junior and its considerable Bulyanhulu gold project for a princely $525 million in 1999. Sure, it was ex-Placer Dome man Shklanka who sold Kenyon on Bulyanhulu after Placer had kicked the tires, but it was Kenyon's company and cash that made possible the eventual deal with the Tanzanian government.
What is often left out of that story is that Barrick also acquired Sutton's Kabanga nickel property in Tanzania in the Sutton takeover. Barrick still owns half of Kabanga [the other half belongs to Xstrata (XTA-L)] and its presence in the deal helped Sutton fetch the price it did.
Free agents once again, Kenyon and Shklanka looked for a new project before settling on the Onça-Puma nickel- laterite project in Brazil, then owned by Inco. After negotiating a deal to acquire the project, Canico boosted total resources, which, by early 2005, stood at 113 million tonnes grading 1.95% nickel.
Canico was later bought by Vale (VALE-N) [formerly CVRD] in 2005 at for a whopping $940 million.
Kenyon was on a roll but still had some magic left for his followers, and this time the deal would not involve Shklanka.
In 2007, Kenyon, a founding director of Cumberland Resources, helped negotiate a takeover by Agnico-Eagle Mines (AEM-T) for $725 million. Cumberland's main asset was the Meadowbank gold project in Nunavut, which contained mineral reserves of 2.9 million oz. of gold at the time of the acquisition.
Kenyon is a seasoned mining executive, with a masters of science degree in geology from the University of Alberta, but he, too, has seen failure.
Earlier this year after years of trying to bring the Tulsequah polymetallic mine back into production in British Columbia, Redcorp Ventures (RDV-T) pulled the plug in the middle of a feasibility study due to escalating costs. A few days later, Kenyon, then the company's president and CEO, announced he was stepping aside after 26 years with the company.
These days, Kenyon is a director of Detour Gold (DGC-T), which boasts Canada's largest undeveloped gold deposit.
Biggest success:
Getting Agnico-Eagle Mines to pay $725 million for a relatively small gold deposit that was once considered too remote to mine.
Current Boards:
Andagan Resource: President, CEO, director
Detour Gold (DGC-T):Director
Troon Ventures (TVN-V):Director
Robert McEwen
Robert McEwen is chairman and CEO of US Gold (UXG-T) and Lexam Explorations (LEX-V) but he is better known as the founder and former chairman and CEO of Goldcorp (G-T), still among the world's lowest cost 1-million-plus-ounce gold producers.
The Goldcorp story is the stuff of legend.
Robert's father, Donald McEwen, ran a small securities firm, McEwen Easson, which specialized in mining companies. Robert spent most of his early years in the family business leaving only for an MBA and a stint at a brokerage firm. He eventually bought a majority stake in the family firm in the early 1980s. Through a holding company known as Goldcorp, a company started by his father to hold shares in gold-mining companies and gold bullion, McEwen bought Dickenson Mines and its Dickenson (Red Lake) gold mine. Thought to be almost depleted, McEwen believed there was still much undiscovered gold on the property because it was next door to the powerhouse Campbell Lake gold mine.
Restructuring the company, McEwen replaced the Dickenson Mines board and made himself CEO. McEwen then transformed Goldcorp into an operating company to clear up the financials and gain access to Goldcorp's capital.
In 1995, McEwen spent $10 million on exploration drilling at the site. Six weeks later, the head of exploration returned with nine drill samples averaging 30 times the gold grade the company was mining at the time.
But before any new veins could be exploited, the mine was shuttered. Its unionized workers walked off the job in June 1996 and the strike lasted 46 months and included a death threat that was mailed to McEwen's office. (McEwen would publish it in the Red Lake newspaper and offer a reward but no one was ever arrested.)
McEwen effectively broke the union in the spring of 2000, after building a new processing plant and rechristening the mine as "Red Lake."
In a bold move later that year, Goldcorp posted its geological data on the Internet and gave away US$575,000 in cash to geologists who determined the best strategy to find Red Lake's next 6 million oz. gold, beyond what the company had found.
In 2001, the mine started producing gold at US$59 per ounce, one of the lowest production costs in the world.
For his efforts, McEwen was named The Northern Miner's "Mining Man of the Year" in 2002.
Goldcorp remained McEwen's pride until he stepped aside as CEO in a friendly merger with Ian Telfer's Wheaton River Minerals. In that deal Telfer was named CEO and McEwen became chairman. McEwen later vacated the chairman role, too, when merger talks started with Glamis Gold.
Since 1993, when McEwen started restructuring Goldcorp, its market cap went from US$50 million to more than $8 billion when he left the company in 2005.
McEwen has been chairman and CEO of US Gold since July 2005, when McEwen became the company's largest shareholder. During his reign, US Gold's land position in Nevada's Cortez Trend has grown from to 282 sq. km from 58.
The Cortez Trend is part of the Battle Mountain- Eureka gold belt that includes Barrick Gold's (ABX-T) Cortez mine (35 million oz. gold) to the north and the Ruby Hill mine (4 million oz. gold) to the south. US Gold's properties on the Cortez Trend sit 16 km south of Barrick's Cortez Hills mine, now under construction. Recent discoveries in the Cortez Trend indicate that it could rival the famous Carlin Trend, which is located about 50 km northeast and hosts upwards of 180 million oz. gold.
McEwen owns a 14% stake in MacDonald Mines Exploration (BMK-V) and 37.4% of Minera Andes (MAI-T), 49% owner of the San Jose silver-gold mine in Argentina.
Through his company, McEwen Capital, he holds stakes in a number of junior mining companies including Noront Resources (NOT-V), Everton Resources (EVR-V), Golden Valley Mines (GZZ-V) and Rubicon Minerals (RMX-T).
McEwen donated $20 million to establish the McEwen Centre for Regenerative Medicine at the Toronto General Hospital and another $2.5 million to Schulich School of Business. In June 2007, McEwen was presented with the Order of Canada.
He earned a bachelor of arts degree from the University of Western Ontario, and an MBA from York University in Toronto.
McEwen is a throwback to an era when self-made mining men almost single-handedly built junior companies into mining powerhouses. Sure, he's not always on the right track, but who is? More often than not following McEwen's money will make you money.
Biggest success:
Turning a seemingly depleted gold mine with low margins and a dysfunctional work force into the world's richest gold mine that has made Goldcorp into Canada's second largest mining company by market cap.
Current Boards:
Lexam Explorations (LEX-V): Chairman
Minera Andes (MAI-T): Chairman (and named two board members after he made a $40 million investment)
Rubicon Minerals (RMX-T): Strategic Advisor
US Gold (UXG-T): Chairman and CEO
Roman Shklanka
Roman Shklanka has helped create mineral wealth on several continents, especially Africa.
He's a bit of a prodigy and this was in full view when he entered the University of Saskatchewan at the age of 15 and earned a bachelor of arts degree in 1951, followed by a bachelor of commerce degree in 1953.
A summer job with the Saskatchewan Department of Mineral Resources introduced him to geology, and by 1956, he had earned a master's degree in that discipline. He went on to Stanford University and obtained his doctorate in geology in 1963, specializing in petrology and ore deposits.
His first field experience came with the Ontario Department of Mines, but he left for the private sector and management position with Placer Development, where he was in charge of several exploration programs in eastern Canada.
In 1978, he was transferred to Australia and spent about three years searching for new projects. During this period, he helped secure the Porgera and Misima deposits in Papua New Guinea, which are now significant gold mines.
After returning to Canada and settling into Placer's Vancouver office, Shklanka was promoted in 1985 to general manager of exploration and in 1987 to vice-president of foreign exploration when Placer merged with Dome Mines to form Placer Dome.
Under his guidance, Placer Dome acquired the Omai and Bulyanhulu gold projects in Guyana and Tanzania, respectively, and the Granny Smith and Osborne mines in Australia.
Following some differences of opinion and sensing an opportunity, Shklanka left Placer Dome in 1990 and merged his company with Michael Kenyon's Sutton Resources, which successfully negotiated with the Tanzanian government to acquire Bulyanhulu after Placer Dome had walked away from the project.
Subsequent drilling and underground development attracted Barrick Gold (ABX-T), and the major purchased Sutton for $525 million in 1999. In fact, Shklanka served as a consultant to Barrick from April 1999 until March 2002.
In 2003, Shklanka teamed with Kenyon again as chairman of Canico Resources, which secured and advanced the Onça Puma nickel-laterite deposit in Brazil. This project also caught the eye of Vale (VALE-N) [formerly CVRD] and the major bought Canico for $940 million in 2005.
As a founder and chairman of Polaris Minerals (PLS-T), Shklanka steered the B. C. aggregate miner to producer status in 2007. The company continues to serve domestic and international markets but has been battered by the recent economic slump.
Shklanka won AME BC's Colin Spence Award for global mineral exploration and the PDAC presented Kenyon and Shklanka with the Viola R. MacMillan Developer's Award in 2006.
Biggest success:
With so many under his belt it's difficult to list just one but it is likely turning the Bulyanhulu gold property in Tanzania into $525 million. That deal got the ball rolling.
Current Boards:
Andagan Resource (Private): Chairman and director
Copper Mountain Mining (CUM-T): Advisor
International Barytex Resources (IBX-V): Chairman and Director
Keegan Resources (KGN-T): Advisor
Kobex Resources (KBX-V): Chairman
Polaris Minerals (PLS-T): Chairman, director
Eric Sprott
Sprott started his securities career as a research analyst with Merrill Lynch Canada after graduating with a bachelor of commerce from Carleton University in 1965. Even then he was seen as gifted, with his graduating class voting Sprott "the most likely to succeed."
Sprott has more than 35 years in the investment business. After earning his designation as a chartered accountant, Sprott founded Sprott Securities in 1981.
In 2000, the investment management division of Sprott Securities, now known as Cormark Securities, was spun-off to form a separate entity called Sprott Asset Management. Consequently, SAM was founded with a track record of managing assets through Sprott Managed Accounts since 1981 and the Sprott Canadian Equity Fund since 1997.
Sprott then sold Sprott Securities to its employees in 2002.
Last year Sprott became a billionaire when he took Sprott Inc. (SII-T) public (see story on page 14).
One of the largest and most profitable aspects of the Sprott empire is its funds. There are the Sprott Hedge Funds (one and two), Sprott Bull/Bear RSP Fund, Sprott Offshore Funds (one and two), Sprott Capital Funds (one and two), Sprott Canadian Equity Fund, Sprott Energy Fund, Sprott Managed Accounts, Sprott Gold and Precious Minerals Fund, and the Sprott Gold Bullion Fund.
In December 2004, the Canadian Investment Awards presented the Sprott Hedge Fund the Opportunistic Strategy Hedge Fund Award.
Two years later, the Sprott Offshore Fund won the 2006 MarHedge Annual Performance Award in the Canada-based Manager category.
In October 2006, Sprott received the 2006 Ernst & Young Entrepreneur of the Year Award (Financial Services) and the 2006 Ernst & Young Entrepreneur of the Year for Ontario.
In December 2007, Eric was named Fund Manager of the Year by Investment Executive, a magazine for Canadian financial advisors.
In October 2008, the Sprott Offshore Fund won the award for the Best Long/Short Hedge Fund globally by HFM Week, a publication for the hedge fund industry.
Sprott has been expecting the credit crunch and housing slump in the U. S. since the start of the Millennium, when he predicted that the huge U. S. trade and budget deficits would ultimately undermine the U. S. greenback.
Biggest success:
Launching Sprott Securities and continually leveraging that success into a multi-billion dollar empire.
Current Boards:
Sprott Asset Management (Subsidiary of Sprott Inc.): Chairman, CEO
Sprott Inc. (SII-T):CEO
Sprott Molybdenum Participation Corp. (MLY-T): Chairman, President, CEO
Sprott Resource (SCP-T): Chairman
Ian Telfer
Ian Telfer is not just rich, he's wealthy. And most of that wealth came from his dealings during his more than 20 years in the mining business.
Telfer was president of TVX Gold from 1983 to 1993 and president and CEO of Vengold from 1993 to 2000. He was also an officer with Lihir Gold (LGG-V).
Telfer has an uncanny ability to raise large sums of money. In fact, he's raised more than $1 billion for various mining companies.
Telfer turned Wheaton River, a languishing junior with an exhausted gold mine and $20 million in the bank, into a company that in 2003-04 more than tripled production to reach 600,000 oz. gold, while raising US$450 million and making six major acquisitions along the way.
In February 2003, Wheaton carried out the largest gold equity financing in the history of the TSX (at the time) to buy a 25% interest in the Bajo de la Alumbrera copper-gold property in Argentina and a 100% interest in the Peak gold mine in Australia.
In April 2005 -- after fending off a hostile bid Coeur d'Alene Mines (CDE-N) by spinning Wheaton River's silver assets into Silver Wheaton -- Wheaton River teamed with Goldcorp, with Telfer taking over from Robert McEwen as CEO. And, in 2005, Goldcorp, with Telfer at the helm, bought Virginia Gold Mines and its 3-million-oz. Éléonore gold property in Quebec's James Bay lowlands.
But not everything Telfer has touched has turned into gold.
His experience helming Vengold was less than stellar. When waning gold prices failed to rescue Vengold from its ongoing pursuit of mining properties during the 1990s, Telfer had to sell off most of the company's assets to pay off debt. In 1999, Telfer together with Jim Tobin, a former vice-president of Canadian telecommunications giant BCE, turned Vengold into Itemus, an Internet incubator company largely financed with cash left from sales of mining properties.
Inside two years, following a series of hi-tech buys at the top of the market, and the subsequent popping of the information technology bubble, Itemus declared bankruptcy.
Despite the setback, Telfer is as well connected as anyone in mining, with ties to Endeavour Financial's Frank Giustra (former president and chairman of Yorkton Securities), Eugene McBurney of Griffiths Mc-Burney and Partners (now GMP Securities), who both helped Telfer raise money for Wheaton River. And Pierre Lassonde, the former head of Newmont Mining (NMC-T), once served as an advisor to Wheaton.
Telfer is a chartered accountant and has a masters of business administration from the University of Ottawa.
Biggest success:
Turning Wheaton River from a junior with little direction ultimately into an executive position with the Goldcorp, Canada's second largest mining company by market capitalization.
Current Boards:
New Gold (NGD-T):Director
Goldcorp (G-T):Chairman
Uranium One (UUU-T):Chairman
http://miningmarkets.ca/issues/story.aspx?aid=1000334564&type=Print+Archives
Leafs007...Send it to Ken and Family. I am sure you will get a great response from "The Man" He is the type of guy who would love to hear it as well. Show your support.
Remember tomorrow is ..."Do not sell a dang share day"....and I am officially announcing that next week is "Watch a Market Maker Squirm week"
Hey godsend, i can't pm you regarding the "solidarity email" but do as you wish with it! Wouldn't it be cool if the messages of our SOLIDARITY on Ihub also reach the ears of Ken Stead?? I'm sure it would put a grin on his face from ear-to-ear :)!!
Thx Biochem for starting the movement!
Yes they have Biochem
No matter if it is true or not, Today showed WE showed up. Katx shareholders are smarter and smarter every day. MM's better give up or go elsewhere for now
pj
Very Soon, "Little Richie, what do you think it would do for the PPS if Ken pulls out a pr with actual resutlts coming from Rusty Ridge- maybe they won't be drilling results, but if the trenching and assay samples come back confirming IOCG
- whether how big or not - Any Guesses? I mean why hire another GEO who specializes in this, if Ken didn't already know -
Please read once again my response below in red. That’s all for tonight. Follow the crumbs
"You know why Ken was clicking his heels, so late in the day March/not May......because he knew we had an IOCG Property......Wait for the PR with new assay and trenching results next . IMHO"
From: patrick roberto [mailto:patrick_roberto@hotmail.com]
Sent: Monday, June 14, 2010 11:14 PM
To: j zwicker
Subject: RE: Thank You...
Mr. Zwicker,
I do appreciate your quick response so late in the day. So Can I take it that Kat Explorations has field crews focusing on multiple properties at present. Can you tell me which ones are the current focus. Guessing you say Handcamp and lucky of course - Is this currently the case or are there others currently as well?
From: jzwicker@katexploration.com
To: patrick_roberto@hotmail.com
CC: kstead@katexploration.com
Subject: RE: Katcopper Mr. Stead So So Sorry
Date: Mon, 14 Jun 2010 22:46:21 -0300
Mr. Roberto,
You probably are not expecting a response this late in the day but I happen to be in my office and so I will give you a brief reply. We believe all of our properties have merit or we would not hold them. Please be assured that we have the personnel to guide us as to which properties we will give attention to at any given time, while not neglecting any of them. It would be few if any exploration companies that could have a field crew working on them all at one time with the number that we have in our company. We are pleased with where we are and the properties that we are focusing on at this time. When we feel the time is right, we will release a PR on all of our properties and the results from the work of our field crew, as well as other information necessary to keep all informed. Thank you for your continued interest in KAT.
Jack Zwicker
Kat Exploration Inc
Investor Relations
Ph 902-497-3188
jzwicker@katexploration.com
www.katexploration.com
From: patrick roberto [mailto:patrick_roberto@hotmail.com]
Sent: Monday, June 14, 2010 10:26 PM
To: ken stead; j zwicker
Subject: FW: Katcopper Mr. Stead So So Sorry
Hi Mr. Stead Mr. Zwicker
Again, I have heard no response from you on this, so shall I take it not to even worry on the issue? I have been telling others today as well the reason to stay in and MM's don't matter ie.... per below.
One Question an honest to god great investor asked me had to do with the Shaylee property, which has always been a favorite of mine along with that of Twi-lite. It seems like the great smaller properties staked ie...Handcamp, Lucky, and Rusty are always followed with bigger and brighter ones right next door. Is there any work currently being done on either twilite or shaylee, or could you direct me as to the idea behind both of them adjacent as such as they are to their smaller counter parts.
Thank you again, in both regards
Patrick Roberto
I am sure almost all true investors are going back to how real investing is truly done. I know I am and others here too. For those who don't know how, read my last post to Biochememist recently - and do it yourself: Phone calls are Better and developing a trusting relationship over time regardless of the MM's is how Wall Street Does it all the time.
The "long picture and jigsawing the puzzle together is what Fun and Money is all about!
Sent By: godsend74 To: GreenTea Date: Saturday, February 13, 2010 8:12:58 PM
Hi GT... got a message from new IR guy this am. and even returned phone call...sleeping at the time I guess it is 3 hours ahead there I think......but sounds like a great guy
RE: Kat exploration PDAC conference and Mr. Stead?
From: Jack Zwicker (jzwicker@katexploration.com)
Sent: Sat 2/13/10 9:25 AM
To: 'patrick roberto' (patrick_roberto@hotmail.com)
Mr. Roberto,
The company will continue to work toward the fulfillment of past PR’s, as to a time table I am not at liberty to go into detail at this time, but again encourage you to continue to access our web page for future updates on all of these issues. Thank you again for your interest.
Jack
From: patrick roberto [mailto:patrick_roberto@hotmail.com]
Sent: Saturday, February 13, 2010 9:56 AM
To: jzwicker@katexploration.com
Subject: RE: Kat exploration PDAC conference and Mr. Stead
Mr. Zwicker,
Thank you for your up response concerning the PDAC- should be interesting for everyone from all past data and research regarding, not just a couple, but, everyone of their excellent properties. One question I forgot to ask, however, is concerning the private investors and dual listing and upgrade to another exchange which was mentioned by Mr. Stead in the previous months press release. Do you think that is still a possibility to work on in the short term, or put off longer out after all the excitement of March is over with? I will try to keep this short just because I know come this weekend, I have a feeling you might get swamped. Still much appreciated to the encouragement you suggest to us all.
Patrick Roberto
From: jzwicker@katexploration.com
To: patrick_roberto@hotmail.com
Subject: RE: Kat exploration PDAC conference and Mr. Stead
Date: Sat, 13 Feb 2010 08:35:03 -0400
Mr. Roberto,
In answer the question the purpose of Kat attending the upcoming PDAC is to get the interest of various mining companies with what we have to offer in our properties. The Handcamp certainly being one. We are not at the point of drilling at this stage. You know that the winter in Newfoundland can be somewhat unpredictable. We are very excited to be attended at the conference and will be holding a number of meetings with different companies as mentioned. As regards PR, please keep watching our web site for news for ongoing test results and other facets related to our company. Thank you for your contained interest in Kat and we encourage continuing to do so.
Regards,
Jack Zwicker
IR
From: patrick roberto [mailto:patrick_roberto@hotmail.com]
Sent: Saturday, February 13, 2010 12:53 AM
To: jzwicker@katexploration.com
Subject: Re: Kat exploration PDAC conference and Mr. Stead
Mr. Zwicker,
I have currently been a long time investor in Kat Explorations over the past year with a few others and I just wanted to let you know that a lot of us on Investor's Hub surely back our CEO Ken Stead. A great man with great business sense. I know he is super busy as of lately, but my question concerns the PDAC Conference coming up this March in a couple of weeks. Will Kat explorations have much of the drilling done on twilite and handcamp to bring, and regards to the private investor financing and newly acquired meetings with certain mining companies that week of march, can we expect any pr's to be released. I guess most of us here are looking for the handcamp samples that were sent in to see the quality of gold. In greatest regards to both you and the CEO Mr. Stead and his Family. Thank you for taking the time to help him out in answering the many emails and phones he has been recieving. Any information with the conference or sampling would be of great value to us here. KATX has a good solid following who will stand behind this company.
Again for you All
thxs midight
Jeremy - A show of solidarity is what you estabished today. There are many longs and new investors alike in that bunch who have "just already" begun to listen - Great Job.
http://www.facebook.com/l.php?u=http%3A%2F%2Finvestorshub.advfn.com%2Fboards%2Fread_msg.aspx%3Fmessage_id%3D51430265&h=39513cFgG2pvdQrrnBe3qo6PIew
http://www.facebook.com/pages/Kat-Exploration/283084523208
Jeremy - A show of solidarity is what you estabished today. There are many longs and new investors alike in that bunch who have "just already" begun to listen - Great Job.
http://www.facebook.com/l.php?u=http%3A%2F%2Finvestorshub.advfn.com%2Fboards%2Fread_msg.aspx%3Fmessage_id%3D51430265&h=39513cFgG2pvdQrrnBe3qo6PIew
http://www.facebook.com/pages/Kat-Exploration/283084523208
Date: June 5, 2009 Jb? Why are you posting this now? Come on
Er0ck, I guess you and I both agree with the Bird it is a "possiblity" More like truth is what I believe though.
That is if BHP doesnt come over to Canada and swoop it up because of current tax laws in Australia, from BHP pretty much said no way to. Come in swooping with a whopping 200 million dollar buy!
Snow, Ken and others as said before, pretty much know what they have had already. Did you forget the MINING companies who inviteded him to the PDAC -
Talk about greatness
1. BHP
2. Vale
3. Tek
Huh.......Erock, also your opinion on a matter I believe is still in the works. Option agreement with Vale on Lucky but tied into a NDA ie...non dilutive option agreement for Full JV 50/50 on Rusty once Lucky proves up to a point"
pkp544- That was funny. I already sold my kids for katx, Hope to buy them back sooner than a month. Boy do I miss them. Ken will always be my CEO.
I would respond to that this morning Go Katx Go. Ask me later swim lessons