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what can prevent $1 stock? how about a lot of debt conversion at a fraction of the current share price.
Since March 2010 DGRI has saying how big Basin is? Gold has gone up yet share price has gone down from $.60 to .01 to .03
The ones making money are the people close to the company with debt conversion. I loan the company $10,000 convert my debt into shares at .25% of the FMV in 6 months-I am guaranteed to make a lot of money
9 months and not one serious PPM for cash. It is all convertible debt financing-TOXIC TOXIC TOXIC
How/Why does mgmt keep doing this? friends are making a ton of money. public shareholders are taking it in the shorts.
Yes some can make money most public shareholders are losing money
Keaveney-Crusher good pickup on the news release-How can someone sign off on being CFO for SEC purposes and then have a news release saying you were actually appointed CFO months later. Even if signing date of 10Q was used that would be august not November as the news states
prior Keaveney sucesss in 1999-guess every forgot about he recent public failures.
I suspect that Keaveney found out a way that even though the public loses money he comes ok ahead
why would DGRI hire someone like this? no mining experience and then hide the recent failures but point out a sucess that happened 11 years ago.
What has Keaveney been doing for the last 11 years?
agreed but then the reality sets in that the DGRI have dropped since his involvment. He obviously knows people have money but they have not purchased. Why?
and if they have not then why should anyone else?
answer-convertible debt
I would be more impressed to know if keaveney has bought any DGRI shares in the open market
I also agree that Keaveney is positive. please do not let my grumblings distract from the fact that this is positive.
maybe-it would be far better better if DGRI discloses his background to eliminate any uncertainity that we have found the right background for the person working for DGRI
markets do not like uncertainity, lack of information or lack of transperancy-
DGRI does not get high marks in this area.
Keaveney hire date
the link you provided for a June 2010 SEC filing was a 10Q for the period of March 2009- I agree that Keaveney was not the CFO for that time frame (March 2009) and therefor keaveney correctly did not sign the report
The reality is that neither of us knows exactly when Keaveney was hired.
Keaveney signed the March 2010 report but not the March 2009 report
either of our opinions could be correct-what is remarkable is the fact this discussion is even occuring-the CFO hire date should have been disclosed.
clearly we both agree that Keaveney was hired a significant amount of time before a news release.
share activity is picking up-nice to see
Keaveney past history is interesting and noteworthy. A corporate accomplishment 11 years in a company he worked for is good.
Better would be see DGRI disclose this in an SEC filing, including an actual hire date.
having a cfo type is good, my point is that he has already been there a while-nothing wrong with that either.
my biggest short term concern is the convertible debt and how many shares might be hitting the market
Keaveny hire date-my reasoning is shown below. please read and comment as to why you think it is wrong
to my knowledge DGRI has not disclosed the actual start date for Keaveney. my opinion is based on the SEC filings signed by Keaveney.(or least they bear his name)
He signed off on the 1st qtr report for March 2010 that means he had personal knoweldge of those results. That he is a personal certification to the SEC, either the certification is false (no way he would do that) or he was involved with DGRI
Here is the link
http://www.sec.gov/Archives/edgar/data/928375/000114036110032630/ex32_2.htm
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Dutch Gold Resources, Inc. (the "Company") on Form 10-Q for the period ending March 31, 2010 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Steve Keaveney, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:
(1) the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
(2) the information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
Date: August 10, 2010
/s/ Steve Keaveney
Name: Steve Keaveney
Title: Chief Financial Officer
(Principal d Financial Officer)
signed june 10q which covers March thru June- dont see a start date. no mention in any report. just see that he started signing reports---from March to Dec is 9 months-could be longer
Keaveny-CFO-he has been at DGRI for 9+ months what has he accomplished? share price has gone from .60 to .015
TA-they could have gotten information from the TA prior to the gagging. DGRI mgmt found out about then gagged the TA. normally TA are not gagged as this information should be public-SEC reporting companies are obligated to issue 8k's when shares are issued. they can also be disclosed as part of the 10Q or 10k forms.
DGRI provided this information only in the most recent 10q
why were share issuances disclosed? I suspect because they did not want anyone to see information on convertibles-how much more is there to go?
interpretations-to avoid various interpretations it would have been great for DGRI's management to have included some comments/explanation on those various items- such as law firm
1)we are experiencing new issues which require the hiring of additional expertise
or
2) we are negotiating with various Cdn based mining companies for possible takeovers or other business deals and believe it is worthwhile to be proactive
all of the items you mentioned -new cfo, new law firm and drilling (with no updated news) could have positive angles but they can also have negative angles
In particular the lack of news on drilling is troubling, no news is usually bad news. positive drill results would probably have released very quickly.
shares going down during this time frame is also not a good sign
numerous posters have expressed that new cfo and law firm are postive but they could also can be viewed negatively
new law firm could be a sign of trouble and needing additional expertise to handle problems
new cfo-maybe prior one left due to problems and was no longer willing to sign off on what was going on
-
my view? new cfo and lawfirm are at best minor points of interest-neither add value--
drilling-can add value and interest-the lack of news following up the Nov 11th news release is troubling on two fronts 1) no news could be bad news and 2) management credability on meeting time frames and making future projections
otcbb-for long time management has stated that getting on the otcbb is a priority-SEC reports are being filed so what is the hold up? Hollis comes from the brokerage community so this should be slam dunk-why hasn't it happened
agreed-this is risk/reward deal 20 x +++ is the upside, big rewards for management via cheap stock to pull it off
like i said my biggest concern is the convertible debt holders-how much more can they sell? dgri should disclose the numbers and then market will know-what have they got to lose at this point?
shares have already lost 90%+ dropping from $0.60 to $0.015 debt holders have made a fortune and it would be interesting to know if management had any tie ins/back end deals but we will probably never know
I have been thinking that for about 8 months. I started watching this from the Basin news and yet share price is still going nowehere
huge amounts of cash (relative term $1.3 million in 9 months IMO is lot for a small company) are being spent on overhead. not much on the property side. Hollis himself is got 96K plus 25k bonus plus 250k for a total of $350K plus-could be more since DGRI has not disclosed the total number and has not had a shareholder meeting/proxy in a long time.
management comp is a sensitive area for most of the big money investors because it shows/demonstrates management senstivity to shareholders
big money investors also dislike super voting rights and will stay away from companies that have it.
convertible debt-could be toxic not enough disclosure to know-another red flag for institutional investors.
bottom line for me-big potential-great property lots of gold-
3 m's -mine, management and money-DGRI score 1 for minement, 0 for money and .2 for management for 1.2 not a great score
but bears watching-more disclousre on debt, fully diluted shares, management comp, how cash is being spent would boast score
biggest short term concern-convertible debt, then lack of cash
DGRI share price has collapsed in the biggest gold bull market-IMO you need to understand why, determine what if anything has changed and then invest based on that change
how much convertible debt does DGRI have? I am excited about the property and believe there is a lot of gold but convertble debtr is toxic and can provide a lot of shares into the market.
how much debt can be converted? how many more shares can be issued.
some of the shares issued in the past 9 months relates to services (like management getting more shares, some relates to convertible debt).
big big difference on the per share DGRI value if DGRI still had 115m o/s compared to 194Mt
what if DGRI had 2M of debt which convert at .004
the Sept 10q states DGRI issued 31,153,704 shares for .0042852
total DGRI debt as of 9/3- $6,052,052-how much is convertible and under what terms--this is a big reason IMO why the share price is low
In Feb/March 2010 when DGRI announced Brown report DGRI was around $0.40 per share and gold was at $1,100--DGRI had say 115m o/s
In Dec 2010
Basin--no change
gold price-from $1,100 to $1,400
DGRI share price from $.60 to .015
DGRI o.s-115M to 194M
IMO I think debt conversion has had a negative impact on share price. I think this negative impact will continue will the debt conversion is gone and convertible debt is no longer used
does anyone other than me think there might relationship?
my prior post was incomplete-apologies
see EDGAR also www.sec.gov- also otcmarkets The DGRI reports can be accessed in a variety of different
DGRI files quarterly reports with the SEC. Those statements show the number of shares outstanding. The number goes up every time.
As of Dec 31, 2009 115,717,375
as of june 30, 2010 149,744,622
as of Sept 30. 2010 192,948,792*
does not reflect preferred shares issued to management recently announced
These are the numbers filed by DGRI with the SEC
also look at http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7555040
IMO going from 115M to 192M o/s in 9 months is a lot.
Nor am giving any credability to some who have posted on this board the current o/s is subtantially higher than 192M
I am simply taking what management is reporting
see EDGAR also www.sec.gov- also otcmarkets The DGRI reports can be accessed in a variety of different
DGRI files quarterly reports with the SEC. Those statements show the number of shares outstanding. The number goes up every time.
As of Dec 31, 2009 115,717,375
as of june 30, 2010 149,744,622
as of Sept 30. 2010
what kind of news could that be? buy out? financing? jv on Basin?
for everyone buying there is someone selling. if news of that type was possible why is the company selling so much stock?
line the pockets of friends and family?
too late to buy? why? I can see price swings but you can always buy/sell IF it is still trading.
Are you speculating that DGRI may cease to trade? if yes then why? did something happen with the SEC? has a notice been issued?
OTCBB listing??--is this still being worked on? what is the hold up?
Brown report-SEC look under wwww.sec.gov- also under EDGAR section. report was filed early in 2010,news release was made etc
Brown was registered at the time the report was done. Again SEC reviewed report and had no problems. I would venture my opinion that the SEC is well versed in these areas and has far more experts who are ultra conservative and let the report stand
Brown's report was filed with the SEC, reviewed by the SEC. I have no doubts about the report-it simply can not be vetted more thoughly or completely than this.
the report is real and shows substantial gold. it is based on millions and millions of dollars of actual work
Benton-DGRI itself questions if this property will go back into production thus DGRI states it "MAY" apply for production permit. This is valid and creates credability on other issues
operating losses-most of it is paper relating to the issuance of shares for service. I don;t like it but how else do you pay people when you have no cash. I don't expect anyone to work for free. I think the compensation is way way too high probably $400,000 plus for Hollis-while greedy and excessive and creates great concern -it does not mean a scam. other CEOS make far more, some less-it is a red flag of concern which then has to be weighed against other areas in the company for investment and then compared to other investment opportunities
Brown as mine director-well DUH- he is mining guy-does not say he an employee
Brown's report was filed with the SEC, reviewed by the SEC. I have no doubts about the report-it simply can not be vetted more thoughly or completely than this.
the report is real and shows substantial gold. it is based on millions and millions of dollars of actual work
Benton-DGRI itself questions if this property will go back into production thus DGRI states it "MAY" apply for production permit. This is valid and creates credability on other issues
operating losses-most of it is paper relating to the issuance of shares for service. I don;t like it but how else do you pay people when you have no cash. I don't expect anyone to work for free. I think the compensation is way way too high probably $400,000 plus for Hollis-while greedy and excessive and creates great concern -it does not mean a scam. other CEOS make far more, some less-it is a red flag of concern which then has to be weighed against other areas in the company for investment and then compared to other investment opportunities
office sharing does not equal scam
I did google the address as suggested and numerous address did show up including several attorneys as well as the Asia n Bar Association.
I doubt the law firms are scams. I would think a scam artist would be very reluctant to set up an office next to attorneys, criminal prosecuters etc
office sharing does not equal scam
I did google the address as suggested and numerous address did show up including several attorneys as well as the Asia n Bar Association.
I doubt the law firms are scams. I would think a scam artist would be very reluctant to set up an office next to attorneys, criminal prosecuters etc
what creates your doubt on DGRI? I look at the 43-101 and have absolute confidence the project is real.
I have concerns about their financial ability, their financial statements are terrible, they have only one mining guy out of 5 employees, the ceo and cfo are the other 2 employees -dont who the other 2 people are
while these are concerns IMO they do not rise anywhere close to being a "scam" they are quite simple areas of concern just any other investment would have areas of concern.
a scam is getting an email from Nigeria saying they need help getting money out of the country
Brown is very well known. gosh why would anyone not want to take phone calls from over 300 plus people-- what a waste of his time. time that he does not get paid for----
I would disconnect my phone
his report speaks for itself.
the SEC look it and found it acceptable--
why would anyone want thousands of people calling-- people who know little if anything about mining--most of whom have probably not even read the entire report
where did you get that information-I saw the share issuance but not where they went
the house in Oregon is probably Rauno Perttu's. He used to be with Aultra. No doubt there is some old information floating around.
the new aultra post split is just getting going.
web site is not even up yet
the shares are active but definitely pre promotion
if that appeals to people then it is buy otherwise wait until promotion starts and then see what happens to share price
big volume today! any guess as to whose buying/selling
call Hollis for info-there are 438 follows on this board-everyone should call, send emails until we get the information we deserve
$2-$5 stock price potential-huge targets lots of gold, very very very low public stock. IMO this stock can run and run big
super voting rights by managemnet-I am have been thinking about this issue. So I would like the board to compile a list-good and bad reasons why management (Hollis and Perttuu) should have super voting rights
here is what has been suggested so far
-so people listen/pay attention to Hollis
-avert/avoid takeoever
DGRI only owns 5% of AGDI-AGDI was a shell and then DGRI did a deal and kept 5%-
at some point it might make sense for DGRI to sell the aultra stock-get cash-no dilution to shareholders- and place Basin into production, place Oregon BACK into production.
2 producing gold projects no dilution to shareholders-how much is DGRI worth then?
i see adgi worth $2.00 a share--with 5,00,000 shares that would be $10 million of value for DGI-based on 200,000,000 o/s thats .05 per share-- an easy double from here
put oregon back in production
millions of ounces for Basin
some nice drilling results for Jungo
and what is the share value for DGRI?