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Throbber, once the A/S increase to 1 Billion occurred post r/s everything I previously believed this company was about went out the window. What investor with any sense would buy at .25 knowing the release of endless shares (again) will drive the pps to .0001? I am researching issues related to a potential action against this company, and its principals. I am furious that they would enrich themselves while throwing all us shareholders under the bus the whole time saying, "increasing value to the company and its shareholders." Just the act of increasing from 7 million to 1 Billion within days of a reverse split is completely and totally idiotic. How could they not know it would cause volume to drop off a cliff, and the pps to dive? It's so stupid, its shocking. gg
Total volume so far today is a whopping 745 shares. Wow. Good job Guyer and company. Way to instill buying confidence in your loyal shareholder base by increasing the A/S to 1 Billion post r/s. Looks like the shareholders are responding in kind. gg
I am not kidding about the legal threats. I have a substantial investment in this company, and will be taking action unless the principals of this company start telling the truth. If they have assay results, what are they? If they have none, why not? If they have bad assay results, when were they going to release the same? I only think of this now because the company has increased the A/S to 1 billion to sell shares when in fact any company with impressive assay results, a mining permit, and a mill, all coming together at once would get financing in a heartbeat. They would not need to sell a billion shares - again! gg
Nice spelling on "Gyuer" Bluefin11. FYI it is Guyer, or at least until such time as the class action reads "Guyer, et al" (lol) JMO gg
Company can't get enough money from private financing tells me that there are no assay results, or there are unfavorable assay results, or the assays were never completed. Is there any other option? gg
I have an issue with this company now. If they have good assay results, then why not release instead of raising capital with selling shares up to 1 billion following the r/s? If they have bad assay results, then that would be completely misleading to shareholders to keep that information from us and continue down this road with investors. If they never did any assay results, then why not? gg
From the 14C filed:
"Although such issuance of additional shares with respect to future financings and acquisitions would dilute existing shareholders, management believes that such transactions would increase the total value of the Company to its shareholders. The increase in authorized Class A Common Stock will not have any immediate effect on the rights of existing shareholders."
WELL, I FEEL BETTER ALREADY. THEY TOLD US THAT THE INCREASE WILL NOT HAVE ANY IMMEDIATE EFFECT ON US. I DON'T KNOW BUT THE DROP IN PPS FROM .40 TO .17 IN DAYS BECAUSE OF THE INCREASE IN A/S IS BEING FELT AND IT IS REALLY "IMMEDIATE." MOREOVER, THE MARKET CAP WENT FROM OVER 2 MILLION TO 900K IN 7 DAYS. BY MY DEFINITION THAT IS NOT INCREASING THE TOTAL VALUE OF THE COMPANY.
I would prefer seeing this stock go to zero volume than for the company to get away with diluting after the R/S. Maybe if Guyer cannot raise his 25k paycheck each month he would reflect more intelligently on the latest move.
JMO gg
Nice pictures. However, the present issues has nothing to do with patience. It has to do with a completely ridiculous and irreponsible move by the company by quietly increasing the A/S to 1 Billion from 7 Million immediately following a R/S. The move was the kiss of death for investor confidence. JMO gg
All that potential just wasted with a dumb move like announcing increase from 7M post R/S to 1 BILLION A/S within days of finalization of the R/S. Just look! No volume. Why would anyone want to buy at any price when they can pick it up at .001 or .0001 in a month or so. And then, why pick it up at .0001 when the company will repeat the cycle of R/S, and get the share structure under control to "increase shareholder value" to just increase A/S to 1 Billion. I really thought this company was going to be the success story of the year. I will wait out next news, and the eventual result here. But, I will be also looking at legal options. The principals made representations that induced many to buy in pre-R/S; and post-R/S. Forward looking statements are differet than what has played out here. My main concerns is if the principals enrich themselves over and to the detriment of shareholders. It's a little early, but not looking so good. JMO gg
Either the principals of this company are very strategic and intelligent; or they have no clue. Today wraps up the 7th trading day since the after hour announcement of increasing the share structure from the post r/s 7 million class A shares to 1 billion. That news alone drove this stock down to its close today at about .16 from around .50 a few weeks ago. For those who say it is being shorted, so what. If the demand was there, the pps would rise. The demand mostly comes with a tight supply of shares, and the fact that this company has enormous potential.
There has to be some reason why this company simply did not increase the share structure to say, 15 million, 20 million, etc. The company could have stood to make more selling shares on a slightly increased A/S, than to go for broke and increase to one billion. It is so counterproductive that it screams there is more to it. I doubt the increase to one billion was to save on postage and filing fees for the regulatory notice. Based upon the low volume, and dropping price, the company has caused its capital raising ability to be severe impaired. It simple math. They will need to sell more and more shares to raise what they could have with a slightly higher A/S. Is it possible that this is to shake some leaves from the tree? The market cap is now 931k. At the rate its going, the cap will be less than the actual cash bond of about 500k posted with the state in a matter of days. The principals of the company did not R/S their class B shares. They did not stop paying themselves. They have to know that what they are doing could easily end up in a class action for a breach of the fiduciary duties owed to shareholders. Because too many things don't make sense at all, I have to wonder if there is something more to it than just watching the grand sell off of a billion shares driving the pps into the dirt again. JMO gg
Grizz, under these circumstances I'm not the type to just chalk it up as a loss. I'm not emotional about any stock, but this one had some slightly different makings to it. I think most of all is the fact that Guyer appeared to always be trying to do the right thing with this company and its stock. The beat down to .0001 was really unavoidable due to market maker shorting, and the company's need to raise capital to get it where it is now. The difference now is that the action in increasing the A/S to 1 billion only a day after finalization of the R/S appears on its face as a complete betrayal to the shareholders. I would venture enough to say that that act is what makes us emotional. They could have increased it to 15M, 20M or 25M and the sale of shares with a pps in its current range would have more capital raising potential than to just increase A/S to 1 billion. If the stock goes below 10cents, the brokerage houses will not touch it. If you cause the stock to recklessly go below 10cents, and then have to rely solely on your retail buyers (i.e., like us) then why betray your shareholders. It's and end game. It's not only shocking, but makes no business, fiscal or market sense. JMO. gg
What is surprising is the increase to 1 billion immediately following the R/S to 7 million. There is absolutely no logical explanation for it. In fact, on its face it appears completely stupid because it has and will cause the stock to drop like a rock. If the company was looking to raise money through share issuance post R/S, then why send panic throughout your existing shareholder base, and scare off potential shareholders, by approving a plan to sell up to 1 Billion shares? This makes no sense at all. I doubt that they actually want the stock to go subpenny again. There has to be more to this than meets the eye. I am hoping something good does come out of this, i.e., a merger, buyout, etc. However, if this was done solely for the purpose of diluting the shareholders (again) to raise more money through issuance of shares, I will be searching for a class action attorney in Neveda, aside from making complaints to the SEC. I bought on representations made by the company not only pre-split, but especially, post R/S regarding shareholder value. We were lead to believe the R/S was to increase shareholder value. The Class B Shares didn't budge from 500 million, all owned by company insiders. The act of increasing A/S for Class A shareholders to 1 billion only 1 day after finalization of the R/S is not increasing shareholder value. This company has the gold and silver in the ground, a very difficult to acquire mining permit, and is located conveniently in a location where it can mill other companies' ore. It has much more than most start-up mining companies. The executives should remember the representations it has made in its public filings, and PR's to create its existing shareholder base. Just my opinion, for what it's worth. gg
Company said the R/S was for increasing shareholder value. One day after R/S finalized, the A/S increased to 1 billion. Does anyone out there think this really increases shareholder value? Did anyone, like myself, buy more shares based solely upon those representations? If the intended result from the company is to dilute A Shares, then we should all look into a class action. They did not R/S their Class B Shares. They owe us shareholders a fiduciary duty. No PR today after the filing would leave anyone to believe it was done without any regards for the shareholders. IMO gg
I feel like I have PTSD (that's post traumatic sheeple disorder). You know, when you feel the gate hit you from behind, and the sheerer starts humming.
Company said the R/S was to increase shareholder value, etc. A day after the D is dropped from the symbol, and at 4:30 on a Friday afternoon, the announcement comes out to increase A/S to one billion? Doesn't sound like increasing shareholder value to me. The company could have increased the A/S from 7M to 10M, or 20M or 25M, with some PR. The value of selling shares in those increments holding the pps would raise more money than to just say 1 billion, watch it go subpenny in days, and try to raise money selling millions of shares. That would mean the company is close to its goal, and then decided to wreck the stock. Something is up. There has to be a legitimate reason for doing this, and especially the timing of it. Just my opinion. Hopefully, shareholders will not panic and see where this goes. gg
THEY OWE US SHAREHOLDERS A FIDUCIARY DUTY!!!!!!!!! LET'S SEE WHERE THIS GOES BEFORE COMMENCING A CLASS ACTION AND SENDING COMPLAINTS TO SEC, FINRA, ETC.
I put in order in prior to 4:00 p.m. for the purchase 4000 shares AT THE ASK (.44) The trade went through at the ask, but the pps never changed from .40 to .44 despite the trade going through. Instead, the detail on my trade shows it went through 16:19 (or 19 seconds after close. gg
M.T.,
I don't think it will hit .0002 prior to R/S for all the reasons it couldn't stay there pre R/S. Too many shares, and the constant shorting into the dirt. I am sure that those who shorted it will be thinking they have even more to gain post R/S to drive it down even further. However, it looks like the company's new share structure is to avoid such scenario. It's a simple supply and demand scenario. Only 7 million shares available for a company with a mill, approved permit, and proven assay results for multiple mines. If the company releases assay results off the charts, as we fully expect from the past drill results, then the herd coming into this stock will drive it very high, very fast. I wish some of the posters who were long didn't jump ship here thinking they would use the funds from a sale at .0001 to use post R/S because they may be chasing returns with the herd. Just my opinion. gg
Short volume yesterday was tiny at about 10 million, or 4%. Two days ago it was massive short volume, consistent with MM's taking shorts right through a reverse split, and making more when the pps post reverse split goes down. However, once the 8-K informed brokers, etc. that the all pre-split shares need to be turned in for new shares (or short submitted via a form), the short volume dropped to 4%. It will be interesting to see what happens today. If short covering commences, it may get interesting. And, the post R/S pps should be .50 per share (.0001 x 5000). For all the right reasons this stock should go north very quickly. Just my opinion. Go CGFIA. gg
A few posters made good points about how the short volume could be covered post R/S with the after the R/S equivalent amount of shares. I confirmed this in my research. It makes sense for MM because they most likely see the R/S being followed by a further decline in the pps. However, with a low float on shares combined with what this company actually has to offer the difference between a usual scenario and this is huge and the risk to the MM post R/S is significant. They may very well cover at a higher pps. HOWEVER, the language in the 8-K requiring an actual share turn in, or book entry form turn in, as a requirement to get the new shares appears to be very smart by the company to trap any naked short sellers. On the 20th day, or upon FINRA approval of R/S, the company will be able to see exactly who stood in line to redeem new shares with old shares; and those who cannot produce or cover. The company has seen its stock shorted into the dirt. Now its payback time. gg
"The Reverse Split will be consummated through a demand exchange, under which physical stock certificates for the appropriate post-Reverse Split number of shares of Class A Stock will be issued upon the surrender of the pre-Reverse Split stock certificates. Appropriate arrangements will be made for shares of Class A Stock held in book-entry form through a nominee and for shares as to which the physical stock certificates are held by the respective beneficial holders. The exchange will be administered by the Company's transfer agent, Corporate Stock Transfer, Inc., and notices will be sent to holders of record on the record date, which will be the day before the Effective Date."
Am I reading this correctly that everyone, to include MM's, will have to submit pre-reverse split shares to get the new one's, or through a book entry form? Is this a way to trap naked short sellers? Those who have been selling shares they don't have because they thought this company would delist or go bust now have to prove what they have, and have only 20 days to do so? If so, that would work out nicely for the pps. gg
Today's short volume leads me to believe that the HFT's using programs (algos) are running the show instead of an actual human analyzing the stock on a day to day basis. The short volume is showing only as 492million becaause the other 100+million traded after 4pm. However, the short volume sold today was 57.8% of the 492million. Who in their right mind would short sell this stock on the same day a reverse split is announced? A computer that cannot read the news regarding a R/S, and is not programed to pick up on such news? And that is assuming that the short sale is actually borrowed shares versus naked short selling. As soon as FINRA approves the R/S the stock becomes frozen with a D listing at the end. The trading stops. So, how would anyone short on the stock be able to cover once trading is halted? I think the next few days we may see pressure to cover at any cost. Which is more of a reason to hold shares instead of selling at .0001 in a panic.
The timing of the share restructure, the manner in which it was PR'd, and the amount of outstanding shares post R/S are very smart and strategic. The B shares are only for voting to ensure that there is never a hostile takeover. The managment can enrich with B shares via dividends or setting a price on them in a sale but the PR today specifically stated that all employee benefits, etc., were to be proportionaately adjusted.
Just my opinion, but thought I would share it for what its worth.
gg
Bluestoo, just go to shortvolume.com and see for yourself. Whether shares are borrowed or not, they are selling what they do not own - yet. gg
Yesterday's short volume was 66.8% of all shares sold. For the most part, that has been a pattern the last 30 days. The MM's could always count on the company releasing more shares. However, if the company merges with AMNP (as expected), and the share structure is modified to the extent that it requires short covering, the MM's are going to get a huge short squeeze. And, if the PPS goes up on its own from the PR on permit approval, the result could be even more drastic. I posted last year about my belief that this company will end up in a buyout. Just check Guyer's background. He does all the hard work up front, and packages up companies to sell. IMO gg
M.T.,
I can't do a private post, but wanted to get you some additional numbers. I gave you mine. I know two other people who do not follow Ihub but who have purchased a total of 75million shares between them.
gg
With a bid of 0 and an ask that rarely moves,no matter how many shares in volume, just exactly who is buying? And, who is selling? Accordingly to shortvolume.com, it appears that the MM's are short selling the majority of volume. But who is picking up the volume at .0001 because they never show up on the ask? gg
Waiting for short volume numbers to show how many of the 253M traded today were short. gg
With the volume today, it should be interesting to see tonight exactly what the short volume is - just go to shortvolume.com 184M so far, against a no bid most of the time? Something is not right. Is it possible that the volume is mostly between MM"s? Anyone?
The news is great. However, it you look at shortvolume.com you will see that since July 3rd, the majority of all shares sold (70 to 90%) have been short. As such, don't expect the pps to jump to .0002 as it will cause a squeeze on MM's. If it does jump to .0002, it will most likely be short lived, and back to .0001. One has to wonder if the MM's like to keep up volume on thinly traded days, and then anticipate covering when the company makes a huge share dump to raise funds. History here shows that the company has done it to the tune of 23 billion shares; a necessary evil of getting to this point. The only way to have avoided such a huge share structure would have been somehow avoiding the short sale down to the .0001 dungeon. However, at some point the cycle stops, and the mother of all short squeezes occurs. It may just happen here very quickly. If DRMS recommends approval, the writing is on the wall for approval. The company appears to have everything lined up with financing based upon today's PR. My DD has always lead me to believe that this company will never go operational, but will result in a buyout at time of approval of the permit. Just check Guyer's background, he is all about doing the hard work and packaging up companies to sell when there is value. The PR released today may very well be a signal to investors for confidence, and to the MM's shorting this stock that if they don't relent on the shorting of this stock they will be caught in a huge squeeze. Just my opinion. gg
The short volume has been very high the past week. As such, one would not expect the MM's to let this go higher until they are able to cover. Just go to shortvolume.com and see for yourself. They are selling .0001's when they don't have them. gg
Awesome assay results. I put an order for 20M in 1/2 hour ago at .0001 because the ask is showing .0001 x 10,000. IT WILL NOT FILL SO THE WALL IS FAKE. IMO gg
I have a question for you to ask... at the rate this stock is falling every day, when do they think the market cap will fall below the actual cash in bank (i.e., 26 to 30 million)? Ok, I'm being smart but the cap now is about approximately 2x the cash on hand (and they have about 100M a year in gross revenues). How in the world do the MM's get to spread the bid and ask like they do? They put a low bid in, and then I am sure they short sell to a buyer on the bid, driving the pps down, and then do it all over again. It's like putting another quarter in the merry go round. At what point does it end? Why doesn't this company announce a partial hold back on silver sales, and begin a stockpile? The price of silver cannot hold here long. Even if if goes down more, it will quickly reverse as this is an end game. I cannot wait until the retail world finally learns that silver is in short supply. IMO gg
I have a question for you to ask... at the rate this stock is falling every day, when do they think the market cap will fall below the actual cash in bank (i.e., 26 to 30 million)? Ok, I'm being smart but the cap now is about approximately 2x the cash on hand (and they have about 100M a year in gross revenues). How in the world do the MM's get to spread the bid and ask like they do? They put a low bid in, and then I am sure they short sell to a buyer on the bid, driving the pps down, and then do it all over again. It's like putting another quarter in the merry go round. At what point does it end? Why doesn't this company announce a partial hold back on silver sales, and begin a stockpile? The price of silver cannot hold here long. Even if if goes down more, it will quickly reverse as this is an end game. I cannot wait until the retail world finally learns that silver is in short supply. IMO gg
The raptors attack anything of value and potential with the junior miners to demoralize, create a sell off, and then quietly accumulate. Watch the invisble hand accumulate. It's happening with gold and silver.
Wow, the company is sitting on nearly 30 million in cash, buying back shares, producing 2.4 million oz of silver per year, and growing, and is only 82 million market cap based upon the silver smash down, and shorting of miners. This pps is a deal. At the rate of the free fall for this stock over the past two months I will wait until it hits 1.00 per share and buy a boat load. gg
Unbelievable. The only good thing with this freefall is that if it continues, I will buy in big time; and I already own quite few shares. gg
great job odega! keep it up.
There better not be a r/s. I have been buying a lot of shares over the last year on the REPRESENTATION TO SHAREHOLDERS BY GUYER THAT THERE WILL BE NO R/S. GG
At 12:18 pm, I put in order through etrade for 2 million shares. It took 10 minutes to fill. First filled at 200,000 and second filled at 1.8 million. The bid was .0001 x 999,999; and the ask was .0001 x 5,000. After order filled, and as of now, the bid and ask has not changed at all. gg
As much as I am happy to see .0002 at this point, anyone following this stock and this Board knows that buying at .0002 will be immediately followed by a large dump at .0001. Whether the .0001's come from MM's shorting, or whether they come from the company dumping to raise funds, the net result is the same. We have seen this play out over and over again. Only when a permit is issued AND assay results are disclosed showing vast reserves of pm's will this stock take off. Those of us loyal with this stock will hold, and not sell, no matter what is going on with the pps up and down. gg