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That is not how the stock market works. Shares can't magically just be "dumped" into the market. There ALWAYS has to be a buyer.
It's up.
Better read this closely...
SIRG DEF14C
Millions of shares are about to be issued to note holders...
Link...
Venue Change
Does that work?
Really? I as well as many others have committed money and received a positive financial return. That pretty much satisfies the definition.
FYI: it takes (3) 0s to be in the trips. LOL Doesn't matter even if it was. Chart is shaping up nicely.
Well then, by all means enlighten us.
Interesting. Did FINRA drop them or the other way around? Seems like a step in the wrong direction.
It has everything to do with investing. That is why most of us are here.
Maybe this will help...
in-vest-ing: To commit (money or capital) in order to gain a financial return.
So far, so good.
It's not about luck or fate and anyone who thinks it is has no business investing. GDSM will do just fine for those who understand how the stock market works and what to look for. For those who do not understand, they should not invest in GDSM or any other stock unless they understand the risk and are willing to lose their entire investment.
Think again. There is no way that SIRG will be able to secure a loan from any conventional corporate lender. They just don't meet the requirements. For SIRG to meet the requirements of conventional lending they will need a 5 year minimum of positive revenue history, a proven means of repaying the loan and a positive history of repayment of a similar loan type as the one they are trying to secure. SIRG has none of that and as such, no conventional lender would touch them.
The only chance they have is to find an AIG that is willing to give them a chance. That means that they will either have to use the property that they have as collateral or sell the property to the AIG and enter into a lease/purchase agreement. In either case, they will also have to give a portion of the company to the AIG until the contract is satisfied.
While AIG deals can work, they usually come at a high rate of return and can also mean the loss of the property if SIRG ever fails to deliver. AIGs don't care about non-liquid assets so they will seize and liquidate if their investment is in jeopardy. AIGs always include a safety exit clause to protect themselves.
That same song has been sung for years and here GDSM is... still trading.
That is pure seculation and that is fine as long as an investor treats it as such. If SIRG had funding in place then they would announce that they did. Also, if funding were in place, the funding would show up in an 8K, a 10K and the toxic notes that they have (are?) taking would be settled by now.
Having no revenue and taking hundreds of thousands of dollars in toxic financing to pay their salaries at the expense of the share holders is "big whoop"?
While getting permits is an important step, unless they came up with the $2 million dollars to get started, they are meaningless.
For SIRG, everything is always "just a few months away" or "any day now".
Yes, that is how they chose to word the terms of that and one other 15% Grand View note, however, in reality that is not how finance works. No lender (toxic or othewise) will issue an open ended term loan with no definitive means of recovering their money.
The actual terms of those Grand View notes are that Grand View, at their option, at any time from the inception of the loan may convert to common shares at 0.045 PPS or at ANY PPS after the maturity date.
Furthermore, that is the term for the Grand View notes and NOT FOGO. The FOGO is a completely different loan of $200,000 that is due on Jan. 1, 2013. No further details were given on the terms of this note.
That is the whole point. We had this same discussion when the PR was released about the carefully chosen wording that was used. At the time, some on the board were stating emphatically that "accepted" meant approved. That, however, was not the case as is known now. SIRG should have issued a PR stating that they "submitted the MPO for approval" instead. The thread to that discussion starts here...
investorshub.advfn.com/boards/read_msg.aspx?message_id=78575661
DD is anything that is pertinent to the company or those involved which include both personal and professional information. My sources are practically unlimited.
I never said that GDSM has been successful but yes, they are legitimate. It is a mistake to confuse the two.
For someone to make money, others must lose money. That is just how it works. It is the same in every single aspect of our economy.
GDSM management "raking in money" is not actually the case. In fact, Marc hasn't made much money(relative to what has traded) at all. The majority of money is going into investors hands which also accounts for the majority of the volume. The second largest amount of volume are shares that were issued by GDSM for services (audits and CPA). Unfortunately, most companies that sell issued shares don't really care about preserving the PPS which is why we are where we are today.
That being said, the dilution appears to be over and GDSM is almost fully (if not fully) diluted. So, from a technical standpoint, GDSM is looking very nice right now IMO.
GDSM has not increased their assets by changing the rate of the Series E shares. That is basic stock market economics.
Those of us who have done the DD know that GDSM is a legitimate business. Successful, not so much. Lack of success, however, does not invalidate their legitimacy.
Nobody knows if they will succeed but at the current PPS, being over sold and the liquidity of this stock, it doesn't really matter if they do or not for some. There is money to be made here either way.
When the PPS dropped below 0.001 it triggered a "bottom play" alert. Lots of traders in this market watch closely for those. Regardless of what GDSM does, IMO the stock should go up on technicals alone.
How can I fail to explain something that doesn't exist? There is no such thing as "bankruptcy evasion". How could that even exist? If so, anyone who succeeds and does not file bankruptcy would be evading bankruptcy.
If they increase the A/S, they will file a form with the state of Florida. This can be accessed by going to Sunbiz.org.
As long as the shares do not hit the market and exceed the A/S, it doesn't matter what they do with them.
I'm not saying that there hasn't been dilution... that is how we got to an O/S of 739MM (at last filing). All I am saying is that right now, it can't exceed 750MM.
There are too many unknowns to give an explanation for the Series E shares. For all we know (and this is a plausible scenario), the E Shares could be held by the CEO for voting rights and keep control of the company.
GDSM has done nothing illegal by changing the rate of conversion. The proper paperwork was filed with the state of Florida which is all that is required. The company value (called market capitalization) is calculated by multiplying the PPS with the O/S. Since the O/S cannot exceed the A/S, the value of the company is not affected.
IF shares were issued higher than the A/S count, then there would be consequences. To this point, that has not happened and the CEO knows SEC regulation.
Nothing nefarious going on here. It is just a company with limited resources trying to get their feet off of the ground.
Please read this post. If you need help understanding it, plesae feel free to say so and I will try to explain further.
investorshub.advfn.com/boards/read_msg.aspx?message_id=82634151
Someone just tried to paint it with $15. That has been happening for a while.... dump a few hundred thousand at the bid and paint the close with a couple thousand shares. That is a trick used to make it appear as if the dilution is not affecting the PPS. It can work for a while but will eventually fail as the bid support erodes.
Like I said and anyone who understands how the stock market works knows... the O/S cannot exceed the A/S. The A/S has not been increased and is still at 750MM. That is as many shares as can hit the market. There is no exception to this. If the A/S and O/S are both at 750MM then it is fully diluted. That means no more shares can be issued unless the A/S is increased. There has been no filing for an increase.
Those who know what fully diluted means knows that it is a good thing.
750mm A/S actually. ... and GDSM is fully diluted.
Works both ways though doesn't it? The bid support is also hidden. And once again... the A/S has not increased. As of right now, GDSM is fully diluted. That is a great place to be for upside potential.
Excellent. Christmas came early this year! 2013 is going to be very profitable.
Good! More shares for me!
No 9s have hit yet today. How is it red being up 22%?
Nice catch on the tricky wording. Looks like the MPO was not and is still not approved as claimed 4 months ago. Makes one wonder why they chose to use such misleading wording in that PR.
.0012s up.
That it does. There is no question regarding the reality of the mine. Whether it ever re-opens and will ever be profitable, however, is still in question.
Until SIRG actually mines something, they are also a "mining" stock.
The Kingman Daily Miner is a small town "nickle" paper. Exposure is always a good thing I suppose but news about SIRG reported in that paper is about as far reaching and one step above posting a flyer on the corner telephone pole.
You are absolutely correct.
Yes. A lot of smart investors made a lot of money at that time. This is setting up for even more. Looking like it has bottomed out at this range with accumulation occurring.
The past due note for Grand View and the upcoming FOGO note equal more toxic debt than all of the past Asher notes combined. At least the PPS was higher when Asher was dumping shares. Not the case anymore. Many more shares will be needed.
So all of the funds were used for permitting? That's laughable. Permitting doesn't consume $88,000 per month. It would be interesting to see just whose pockets that money is going into.
Yes it is dilution when shares issued devalues the value of current holders shares.
No, SIRG is not worth a dime more and won't be unless they start turning a profit. And FWIW, production does not equal profit. IF they EVER produce anything, profitability is a completely different issue.
Dilution through Asher, FOGO and Grand View should NEVER be considered a joke by investors.
Of course there is only one Asher note remaining. Asher stopped loaning SIRG money because SIRG was not in compliance with the terms of their notes. Thus the increase in the A/S.
Asher isn't the only concern though. There is more toxic financing through Grand View and FOGO than there was with Asher. What's worse is the interest rate is higher and the terms shorter. Even to toxic financing companies SIRG is becoming a big risk. Just like any lender... the higher the risk, the higher the interest rate and shorter the term they are willing to lend.
$200,000 more due in two weeks. Who is going to be left holding the bag of worthless paper? It isn't going to be Grand View or FOGO. The battle of which toxic financier will dilute the fastest is about to begin.
Just a matter of time. She'll go again... faster and harder than last time. Load Up!