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Potentially billions of shares to be held for big gains in the very near future.
Lol, great minds think alike.
LOL, Well, if you say so. My stance is very clear and I don't really care what anyone else thinks of it. Personally, if others feel like they want to sell to feel better, then they should sell. I do enjoy watching them come back time after time saying they bought back in and the watching them soon after talk about how they sold. They lack the knowledge needed to trade these stocks for big gains. I am not worried at all. In fact, I am more excited when people get scared and sell. It gives the MMs what they are after and allows them to become more comfortable in moving the price up. Don't take my word for it. Sit back and watch. WINK...
That is exactly what will happen. There is a lack of understanding and patience with these traders. That is also understood by the MMs.
Ok, I don't follow you. What does that have to do with what I said?
Agree 100% with your string of posts. Dead on facts...
Now your talking 007. Nice to have you back. Smart move my friend...
With all due respect. Charts tell a part of a story but won't tell you the whole story. Anyone who puts all their eggs in that basket only set themselves up to make many mistakes. Im not saying they can't help but if you could figure where everything was going to go just based on the chart, you would never lose. And that is just not possible as their are fundamentals that play a large role in where things will go.
I fully planned on staying in the current range of 3-5 today. The 6 and 7 hits, although not a great deal in relation to total volume, were a surprise to me. So, as of now, this is exactly where we are supposed to be.
On the price action or the filings?
The lowest retail will pick up at this point is going to be .0004. 100 share hits at .0003 don't count at being "invested" in this stock.
Sure is. Patience has paid off and will continue to pay off as time goes on. The ones who were not strong enough or lacked the foresight to see where this was going sold for a loss. They pat themselves on the back as if they made a good trading decision and say things like "I'm glad I sold". Look for them to continue to post negatively in the hopes that it will go down as that will allow them to sleep at night. They made a mistake. However, if they want to feel better about their decision to sell, I have some good news. The MMs plan was for them to get scared and sell so they did exactly what they were supposed to do. If they really want to feel better, they will load as many shares down here as possible to make some money and make up for their loss. Most will choose the negative path as that is human nature. Too scared to get in the game which is the same reason they fail on trades. Time will Tell.
Noooo, that wouldn't be possible and not even close to logical. Someone throws a bid on top of over 200 million existing bid and gets filled in minutes. Try looking at 11:59 and tell me what you see.
Timing of new is irrelevant to how good or bad it is. That is because, most of the time, news is positive. Secondly, this particular filing is a must in order to stay current. So they have to release news. This is the part where your theory collapses. They have until the 15th to file it. If it was bad, why would they want to move that date up to the 10th? Use some logic in your thinking for a change.
Agreed. No one can deny that it is being suppressed temporarily. By temporary, I mean until they have covered enough at each level. Then it will move up in range. Sooner or later, you have a breakout. I'm really referring to the final conclusion you have regarding the CEO. Pretty harsh words regarding him without having proof that he did it or has knowledge of it, don't you think? In the end, it doesn't matter what believe feel about him. If they want to make money, they buy as much as they can down here and then sit back and watch it increase slow and steady until one day in the near future, BOOM.
Based on you theory, you are suggesting that at these prices and looking at the tape, they would sell some shares at .0003 and short some shares at .0003 and then cover their shorted shares at .0002. Does that sound feasible? There haven't been any major shares purchased on .0002. How does this benefit them? Logically, we can conclude that that wouldn't make any sense simply because of the amount of shares held. Anything you short and cover is basically the same shares so if you shorted 5 million and covered 5 million, that would be 10 million in volume. That would take forever to make money from at these levels when you carry 2 billion+ shares. I want to be clear that I am only disagreeing that they are shorting this down AS THEY SELL as that doesn't make any sense at these levels, with the amount of shares they hold.
Volume definitely matters. Based on your theory, you think they could keep volume up to sell billions of shares down here. Shareholders wouldn't put up with that for the long term. But again, agree to disagree. We will see.
Price matters in terms of how much money you make. Now, 33 million shares in one trade has not been the norm here. That was approx. $6,600. Not a great deal of money. However, selling 13 thousand shares would be much easier. We can talk all day about our opinions on this matter. I think in the end we agree to disagree because it is my opinion that it would be safer, easier, more profitable, etc to convert with discounts. That is common practice in penny land and not viewed as abnormal. In the end, we can see who will be correct in their assumptions.
Well, that is a very logical conclusion if you start out with the idea that all companies want to steal from you. Unfortunately, you are missing a very vital part to this. First, why go through the trouble of having to sell down here at these prices when you could have been selling the whole time at the top? Wouldn't a discounted conversion be better/ smarter for someone to take advantage of something that you claim is worthless but given value? It would be based on an amount of shares that they could sell. I mean, if it was valueless, why not sell shares at .50 and down. The amount of shares is irrelevant in this conversation as the amount would be less but the value would be more due to a higher share price. Also, it is an easier sell to someone at a higher price with no fear of buyers feeling like it will go to no bid. Logically, what you say overall is incorrect. Pure speculation all the while leaving out some very essential information in determining that as reality.
You know, I have actually read your posting here for the last few weeks and while I didn't agree with the overall reasons you've stated about this stock going up, I did agree that this stock is going to go up. If I can remind all here how you started off, you stated it doesn't matter whether or not this was real, it is going up. I agree 100% but I would like to point out that I don't believe this to be a scam. Now, I see you have taken a slightly different route and decided to try and attack from a fundamental standpoint basing your opinions on statements from filings and PRs. Am I to believe that your whole outlook on how to trade has changed in this last few weeks? I think you know it is going to go up. I think you want more shares. Of course you'll deny this. Unfortunately for you, your denial would only make your initial posts look like major mistakes and if anyone actually read those prideful posts, they may form a not so good opinion. And correct me if I am wrong but you know how to trade stocks do you not? Good luck with your end result....
"Let BCIT Trade" website??? I don't know what that is.
Yes, thank you. I am aware of that.....
Since you live in AZ, do you know who the registered agent is for Searchlight?
Ok, I wasn't asking you to defend/refute the opinion as stated. It is merely my opinion based on what I have seen. I'm not saying there are no scams. I am stating that the lifeblood of a penny stock is capital which wouldnt come from revenues as there is more than likely no product at the time of their inception. Is it not logical that companies, whose stock is traded on the pinks or OTCBB, are not revenue producing but have an idea or service that they can offer the masses for sale? From a private placement standpoint, lenders can come in and make outrageously beneficial deals for themselves that including discounts that I have seen as high as 55% based on the lowest trading day over the last 20 days. Having said that, when it comes time to collect, do you think they will leak out their shares or do you think they will sell it till they get to a point when they run out of shares? I've seen Asher do multiple PP and then sell a majority of the converted shares and then keep the rest to sell down the stock leading up to the next conversion so they can get the lowest possible price and thus attain more shares. Now, is that the companies fault? Yes and no. Yes because they made the deal but the alternative is not have any financing at all so how is that good for shareholders. I will stand by my opinion that most are just trying to make it in the good old USA and conversions/dilution are a financing method used down here to get the capital to try and make it. It is because the majority of them fail and shareholders lose money that people yell scam most of the time. Again, some are scams but this is true no matter where you trade or what you involve yourself in. Ever heard of ENRON? Was that down here in the pinks? Nope. I think you need to work on your blanket statements again if you still feel that all penny stocks are scams.
Well, you base everything off of opinion so it is difficult to follow. You see, you base everything off of the lack of something as evidence of something else. That is not evidence of anything. There are some in Germany as well, Not just Costa Rica. Do you know anything about venture capital? Are you aware of companies that specifically place venture capitalists and companies together. Are you aware that the Registered Agent to Searchlight has been in the mining industry for many years and owns/owned around 75% of all the claims in AZ and got them cheap. Is it feasible/probable that some of these properties have had attempts to bring in venture capital prior to GNCP to try and get the ball rolling and thus would have partial stake in the property? Would only make sense because of the amount of costs associated with mining. There are many unanswered questions and some we will never know the answer to. Does that mean that if I don't find the answer that it means something completely different. It should not be a secret that people investing in stocks do not tow the company line as if they were a part of it. They invest in stocks to make money. They learn as much as they can to make that money. When they sell for a profit, do they still come here and post new information? Of course not. The stock served its purpose which was to make money. I am of the opinion that most penny stocks are not scams but their lenders play a role is destroying whatever idea/product they could have brought to market. This is because the lenders don't care. That has nothing to do with the management. The "scam" part gets thrown around very easily because if they price rises and lenders sell it back down, the ones who bought at the top are pissed. It is not that most are scams, it is that most don't succeed. Does anyone one know the number one reason for business failures? Lack of capital. It isn't the product, service, etc. it is the lack of financing. When the lenders take advantage of the fact that financing Options are limited, the company and shareholders suffer. In this case, no discount to conversions but that doesn't mean they can't take advantage of a situation as note holders. They could have caused the situation just to take advantage of it. Everything, every opinion, fact, pr, email, filing, trade, is open to interpretation as well as change. I prefer to base everything off of what is visible and not what is invisible. You choose what you can't see and then say something else exists because you can't see the first thing when the answer could be any number of things because the first thing isn't visible.
No I'm not. I'm basing my arguments on human nature, logic, basic math, level 2, and trading tape. It matters not whether or not this is a scam. I don't believe it is but I could prove how the stock price will go up no matter what avenue you choose. How often can someone say that about a stock? It just doesn't matter in terms of the stock price at this juncture. Feel free to think it is a scam. In which case, you bought into a scam. Guess, what? You will get all your money out and probably profit some too unless you sell too early like some will or already have. Again, it won't matter. As for the note holder information, how come you don't want to look up this information from them. I agree some are hard, difficult, impossible to find but not all of them. They are definitely private companies and being private companies, they are entitled to stay private. However, Bauman is extremely easy to find and since you only asked for one, you can call him and his wife up and really get on them. Lol.
LOL, so we are left just grabbing into worse assumptions based on all the facts. If I felt this stock price was going to stay down here, I would have sold. Since I think it will go way up, I am going to stay. It's that simple. You don't seem to have this same perspective. You own shares but you hate the company. I will choose logic above all. Now, enlighten me by telling me these "facts" that are not true in your mind so I may then rebut your thoughts.
We couldn't be further apart on this. Not a logical assumption at all.
LoL, one arm of a pump and dump is a PR blitz. Is that what you think you are seeing or have seen? I certainly don't see that but that's fine. You're entitled to an opinion. Doesn't matter if I agree or disagree with your opinion because it has no bearing on the stock price one way or another.
Well, let me tell you a different perspective that makes more sense. First let me ask you a question regarding the convertibles? Are you aware that the convertible notes are converted based on the average share price on the preceding 5 days of the conversion date? This is the case here. Now, we know where the price was over the last 3 years. Would it make more sense for a scam to be able to make more money by making the terms of the conversion more profitable and easier to make money by making the convertible include a discount to current average share price? I know that they could have been converting more and more over the last two years when the actual Debt was originally due for conversion and not done an extension. I know they could have been selling at much higher prices over the last two years and doing so with a hefty discount to the current price. I mean, since you claim the paperwork is fraudulent, would it make sense to extend the note? Would it make more sense, if your statement holds water, that they convert shares the entire time and sell? Really, there is more to prove it isn't a share selling scheme. But hey, we all got opinions. One of us is right. We get to find out together.
That's an untrue statement. You don't know that the paperwork is fabricated. And correct me if I am wrong, you were going to be patient with management and not cast dispersions until you got the whole story? Logically, if you spend the kind of money and time in a scam, one that would have been started many years ago. Waiting for three years to implement this so called scam plan, then say, well, 60 is better than nothing, would that make any sense? How much money is spent on setting up the company, paying for filings to stay current, paying for PRs, paying for whatever, and your claim is that? Share selling scams are built off of momentum upwards not while the price is going down. A pump and dump is based on constant PRs to keep interest up. An illusion that would have included gagging the TA which wasn't done. You want to talk about keeping emotion out of this yet your statements are only relying on your emotions to make assessments of this situation. This is why you go back in forth. Reflect on that.
LOL, let me know when you find a reputable financial institution or regulatory agency...
Your thought process is understandable. However, when we are talking about 100 shares, it would make sense only when the example used on that web page is used as the price was around $6. Down here, it wouldn't make much sense. If you were going to try and get as much money as possible, you wouldn't be doing it 2-3 cents at a time. That's not logical. Even 10k bids hits only represent $2-3 at a time. Again, not logical. The action on L2 is representative of someone trying to cap the ask to scare people into selling the bid. Now, if we are specifically referring to note holders shares here. The questions are, is it logical to conclude that they would sell below the average at which they hold those shares and secondly, will interest keep the price up in doing this down here over and over again? Another way to ask that question is, How many shares do you think they will get through down here before interest is lost and no one is buying anymore from them? Choosing a random number, let's say they can get though 30% of their shares which is over 600 million. Let's say they get an average of .0003 for these shares. This means, they would only get $180,000 for shares that they held at over $800,000. That is not logical. So, we must conclude that they aren't selling their shares in some sort of leak out plan because the interest would dry up extremely fast when talking about that many shares.
It probably is. My stance with the poster is not to change him but merely show others the absurdity of "certainty arguments". Real intelligence doesn't come from being right all the time as we are human and the understanding and acceptance of that fact is almost an evolutionary change. Real intelligence is shown when someone can admit making mistakes and in wasting no time in changing direction when new evidence presents itself. That is the top of the food chain....
I congratulate you on getting better in offering opinions as opinion as opposed to offering them as facts. Let's dive right in
From your post
"As for legitimate exploration companies versus one like GNCP?"
Rebuttal
Right off the bat, you compare any number of companies you don't mention as legitimate all the while relate them to your perception of the other side of the fence, GNCP, and basically state, like it's fact, that they are not legitimate. Keep in mind, your main point has been location of mines, ownership of mines, and whether or not they have the minerals touted here. There is an NDA which could hold the keys to your answer but as suspected, you have come to a conclusion without exhausting all efforts to find all the facts. Ownership of mines is up next, again, NDA may shed light on this but again you haven't exhausted all efforts here. You use one site, which you proclaim you or anyone could get lost on due to hard hard it is to navigate,to determine fact. How fast do they update this site you speak of? Do you work at this site? In order of questions asked, you don't know, and no. As for whether or not they have gold. Have you determined this all by yourself? Have you drilled there? Have you assayed this property? Are you a geologist? Have you done any work or know anyone who has? Answer for all, nope....
From your post
"If a person is a savvy investor in mining stocks, and interested in what the exploration company is exploring, they would want to know where the claims are (precisely, not vague and misleading statements about "White Hills"). They would want to see some maps showing the claim(s) locations, drill hole locations, maybe a technical report, and what the qualifications of the geologist/engineer are. Do all legitimate companies publish all this? Maybe not every last one, and I apologize for talking in absolutes. But any exploration company that wants to be taken seriously do."
Rebuttal
So, your opinion is that if they want t be taken seriously, then they do it? If they want to be treated as a joke, they don't? Contradicts the pump and dump scenario. I would imagine a pump and dump would want to be taken seriously so they can sell shares. Not to mention, this is your opinion and not fact. Many companies hide their actions for the element of surprise. Read "the art of war" for more information. As for the information, again, what makes you think they won't share this info. If they do, do you apologize for stating that they are a scam because they didn't. I don't know about you, But when I am in control of anything I am doing, I don't like it when someone feels like they can dictate what happens when it isn't in their hands. Perhaps, you think that CEOs should do whatever the people (shareholders) say? Poor decision. You just described the USA and its downfall. But, that is another story for a different day.
From your post
"I understand the need to keep some information private, especially in a hot exploration area. But there has to be some level of disclosure to attract attention from savvy investors. Not disclosing claim locations is just ridiculous."
Rebuttal
Well, if you understand the need, why question it all the time? I'm not saying to never question as that would be bad advice. I am simply saying exhaust all other efforts. Let me ask you this, if they came out with it, would you still say scam? Based on your theory, this is a pump and dump. Would that mean you would want to attract as many investors as possible? Why not just share the information as to the exact locations if it was a scam. You said it yourself, they are renting the locations for promotional purposes. Why not share the locations? The owners would fully go along with it and you can talk about all the gold there and no one would be the wiser. It's been done before. Logically, your theory collapses on itself in this area but that's cool, we are all entitled to our opinion.
From your post
"There apparently are very few savvy investors here (and by savvy, I mean ones that understand the basics of geology, exploration, etc., not investors who are savvy at trading) Few here seem to really care that the company is being so evasive about where their damned rented claims are. I can guess where they are, and I think I'm right, but why have they not disclosed full info on the claims as they promised to do 6 months ago?"
Rebuttal
Very Nice, " guess" and "I think". We may be getting some where. Do you believe they should share any and all information all at once to make investors feel comfortable at all times? Its an investment. Nothing is guaranteed. What makes you think they won't decide to share more information? Is it because they haven't at this point in time? Do you determine when the correct time is? I'm not saying I agree with their timing all the time but I can say without hesitation that it is not my call. Constantly question everything, never give 100% certainty and then say things like "i'm guessing" and "I think".
Till we meet again....
Yes, that is a very viable assumption. I was merely pointing out that the poster said " nothing after September" would be included. And yet, the PR said, they were waiting on the AR to include more recent actions.
I agree. It is extremely strange to me that you can't see this is going to go up. But, God didn't make us all equal so I am tolerant of other's opinions. Just the other day, my 3 year old daughter told me she owned the moon. Not exactly her words. She just said it was Emma's moon. And I politely said, oh, ok... So, I say the same to you. OH, OK...
Allow me to rebut your post below with some logical points. Please respond with some logic if you're going to respond at all.
From your post
"Legitimate junior exploration companies are quite explicit about what their holdings are (claim numbers, maps showing claims, geological reports, etc.). Investors like to know that kind of stuff."
Rebuttal
Investors would like to know that kind of stuff. So do competitors... Your blanket statement as to what all legitimate junior exploration companies do really paint you into a corner. For one, how do you know they all do it? Now, if they come out in due time with that information, do you then publicly retract your statement, forget about it and hope others do the same, or stay on your same path of destruction but talk about something different?
From your post
"Stinky pinkies play games and don't disclose key things like where their claims are. And lie about their OS."
Rebuttal
Again, blanket statements leave little room to maneuver which is fine with me. Makes it easy to show others the lack of intelligent thinking. Find anyone who thinks blanket statements help any argument and I'll show you an idiot or someone who has an agenda. I'll let you figure out which one you are. Now, you have no proof that the CEO lied. Now, if he did fib for reasons that benefit the company because someone called bitching at him(DL2), would it still not be acceptable. What if a deal was being finalized but wasn't completely done? Do you just share the information with the guy who calls you up mad? What if I told you that the person you guys always bring up that got "yelled" at also came around and told the CEO that he would be patient. You guys took his anger and co time to use it here in a negative manner and he has moved past the anger and is supportive. But, you wouldn't care about something like that would you.
From your post
"Come on, face it - this is not an exploration company, it is a share-selling scheme. A pump and dump, and we are now in the dump phase."
Rebuttal
I find it interesting that a complete stranger tries so hard to help and even goes so far to say "Come on, face it" as if I will just change my mind. Lol. So, we are now in the dump phase? So, you think it is logical to just dump billions of shares at this level? I really want you to answer this question, do you believe they can dump billions of shares here? There is no way they will have any support from buyers to "dump" billions of shares here and you know it. Now, since we are, according to you, in the dump phase, when was the pump phase? I have reviewed the PRs and promotions in the past and in no way does it signal to me there was a pump phase. So that means you are saying they have a dump without the pump. Is that logical? Since your viewpoint is that this is a scam, wouldn't a scam mean they are trying to make money? How about the 100 share bid hits over the last 3 or so weeks. Is that them too? If so, how does trying to scare people help them dump shares and where exactly does the bid hitting fall into the pump or dump phase? No answer, ok, if it isn't them, how does that help any retail investor here? What would be the purpose?
From your post
"Hope for a little bounce when the Annual Report comes out, but I think there will be disappointment when it shows up. After all, it only goes through September (the end of their fiscal year). None of the shenanigans that occurred after that will be discussed."
Rebuttal
Finally, you say something logical which is opinion based. You said "I think". Good job. Oh wait, just following that you made a very direct statement as if it were fact. And with your usual blanket statement as well. Just when I thought you were getting it. You used the word "none" as if you were writing the annual report and knew it was "none". Do me a favor, I'm a little slow, what is the "subsequent events" section found in these reports mean? I can only assume they mean events that occurred following the end date of the fiscal year. But, since you know for sure, maybe you can straighten me out.
THE END....
DL, as far I know, any conversion rate higher than .0003 means it was better for the balance sheet. Now, we don't know what they planned on the conversion rate to be. For all we know, they could have planned on the new rate to be .001. That didn't happen, obviously. But, the conversion rate did end up somewhere around .00036 based on my calculations which is an additional decrease in debt by approx. 20% based on the $690,000. So, a win? Different perspectives will give different answers. The guys buying at .0002,0003, 0004 most definitely. The guy who bought at .002, definitely not because they decreased a little debt all the while, those people are currently down a lot. No matter how someone's personal feelings are regarding it, it does help the balance sheet a little more than what it would have been based on the .0003. Also let me remind you that the previous conversion rate was based on an average of 5 days with no discount. So either way, the price would have at least made it down to at least .0004 from its recent highs. It just may not have gone down to .0001-.0002 range.
This is what mining companies do when they don't have the funds to mine the property. Exploratory mining companies' sole purpose of being is to find properties that have potential for mining, test that potential by drilling core samples, prove the existence of whatever it is they are looking for and then either JV or sell the property. This means that monetizing the property is always in the far off future if ever. And by "if ever", i mean they must prove the existence of, gold in this case, then find a partner for JV who has the funds to mine or sell the property to a mining company. This is of course dependent on many factors such as the mining companies financial strength as well as the commodity price as it relates to turning a profit. This is a very typical thing for exploratory mining companies as well as major mining companies to do. Look up how many mining companies give impairment to their properties. It is simply about the amount of time between the purchase of the property and monetizing the property. Many mining companies buy properties years in advance with the knowledge that they will give impairment simply because they don't plan on mining the property for years. Unlike other industries where using impairment would be considered extremely bad, it is extremely common with mining companies. Don't take my word for it. Go look it up. Think of it is terms of depreciation for a companies office building. Over time, they fully depreciate it. Does that mean it is worthless? Nope. It simply means that they have written down, over time the cost of the structure. This would be done over the lifetime of the asset. But, the value remains. They can move out of the building and sell it. All proceeds from the sale would then be considered profit from a tax standpoint. The difference is in which the asset was written down. In this case, they can honestly say that they can take the impairment now because of the fact that they know they are going to mine the property any time soon. And in the event the property does get mined, it is an uncertainty that it would occur in the near future.