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.
Yes. Looking like we might be turning the corner here.
More facts...
The Company entered into a Convertible Promissory Note with Grand View Ventures on February 16, 2012 in the amount of $190,000. The note has an interest rate of 15% with the maturity date of February 16, 2013 (See Note 7).
The Company entered into a Convertible Promissory Note with Grand View Ventures on May 3, 2012 in the amount of $133,333. The note has an interest rate of 15% with the maturity date of November 1, 2012 (See Note 7).
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with the maturity date of April 19, 2013 (See Note 7).
The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with the maturity date of January 1, 2013.
Relly? One permit and the mine goes into production? What about the $2 million+ dollars that they need just to get the mine ready for production? What about the 3-6 months it will take to get the mine ready?
Late 2013 IF they get funding and all of the permits in hand.
There is a long way to go from now until full production.
With no revenue, who is paying that $88,000 overhead every month?
How many shares of dilution will that result in?
At current price (.0069), that's 12,753,623 shares a month. Multiply that by the months until profits come in.
When the toxic loan money dries up... that will be the reality here.
The chart is pretty clear and the L2 is supporting. 0.004 looks like weak support which is confirmed by L2. First strong support level is between 0.003 and 0.0035. If that doesn't hold the next real support is around 0.002. After that, 0.001 is very strong support although it may dip into the trips with an over correction. Hard to call bottom on this one. All of the moving averages keep failing as support.
Give me a break. That is absolutely ridiculous. So I guess it is also illegal to call and confirm a share structure with at company's transfer agent, to call the BLM and check on the status of permits. ROFL
Oh, so now there is no proof. So, all of the accusations of WSRA ridding themselves of GDSM were unfounded and only opinion?
Not so. I would suggest doing some basic research on securities law. The thought that confirmations of what has been publicly announced and general discussion of business practice being illegal is beyond ridiculous.
That is an opinion that is not shared but by only a few.
Not if there is no longer any relationship between the two. The stock discussion boards are for discussions of what is relative to the material events of the companies that the boards represent.
If that is the case then GDSM will from now forward be off topic on this board. All discussions should remain on the topic of WSRA or will be removed.
Looks like the Sr. VP of operations jumped ship before it completely sank...
Effective December 1, 2012, Michel Rowland, Vice President, Exploration, and a member of the Board of directors since April 2011, has assumed the responsibilities of Travis Snider, who resigned, effective November 30, 2012. Mr. Rowland’s employment agreement, previously disclosed by the Company on Form 8-K filed February 28, 2012, is amended to reflect this new effective date.
Debt yes. Massive debt as claimed... no. Easily manageable if and when GDSM completes the audit and uplist. In case some don't understand, the $11MM in cumulative losses is not debt. It is a write off accumulated over many years and will be used to offset profits when they come.
Not illegal provided that no inside information that would beneficent an investor is given. Discussing general time frames and providing verification of what has already been publicly announced is not illegal.
It most definitely will.
And what debt do they supposedly have?
I think this ship has a leak.
IBox appropriately updated.
Nope. A little effort in DD goes a long way.
The simplest of DD provides the latest update and refutes those claims.
Probably not. "One must lose a worm to catch a fish". Or something like that.
Last update was on 11/5/12. A month from there is 12/5/12.
PPS moving up on light volume is a GOOD THING.
Shares can't convert above the A/S which is still reported by the Florida SOS as 750MM shares.
The test assays have already been completed with positive results. However the Goldstar project has been set asside to pursue the more lucrative Azurite project.
Audited fins are in process.
Merger is on hold pending the audited fins.
JV is still in play pending funding.
The "pictue" is looking great from where informed investors are sitting.
Aahhhh. Smart!
Trading OTCs on margin... that is brave!
Chess game waiting on who is going to make the first move. 0.0009 seems to be the pivot.
That is assuming that the O/S remains unchanged which will not be the case as stated by the company itself. As far as fundamentals... where is the data supporting the valuations that keep getting thrown around?
LOL. I love it!
Haven't been wrong yet.
The loan of July 17th, 2012 was the last loan they were allowed to take by Asher without increasing the A/S count. That loan and the previous loans were contingent on a number of estimated shares in reserve based on a higher PPS.
Two things contributed to the halt of Asher giving loans to SIRG.
1) SIRG began taking loans from other toxic lenders aside from Asher which tied up even more shares in reserve.
2) the PPS fell significantly after the loan on July 17th, 2012 requiring more shares to reserve than SIRG had to reserve.
Since there were (are) mulitple toxic loans in place, many more shares were needed to reserve for those loans as a stipulation of the loan agreements. Or as SIRG put it...
As a result, the number of required Reserve
Shares exceeded the number of authorized but unissued shares of the Company’s Class A Common Stock, and the Company became
noncompliant with contractual requirements.
Sure... as soon as the reverse split the stock.
Asher did stop lending them money. The whole reason for the A/S increase was to satisfy the requirements of Asher so the toxic money flow could begin again. It is explained by the company in the filings.
Well some things haven't changed. They are still accumulating toxic debt, not releasing any news, have no funding in place and
have no interested buyers.
Pretty sweet deal he has there. Wonder what he also makes at Blackpool?
Totally agree.
LOL seriously? That is an automated trend agrigator. Of course it says sell because the PPS is trending down. Just as it said "BUY" when it was trending up... which it will again soon enough.
The PPS is getting prime for the bottom feeders. It will turn soon.
Correct. That is typical lending practice. Lenders will not go long term for high risk loans without extreme return rates. The current rates are bad enough as is but if the term were longer the rate would typically exceed 25% and probablly would still not exceed a 3 year term.
Well, the company stated that following the change in SS, the OS will increase to 369,223,884. So that is 21,390,799 shares to be dumped imediately.
That leaves them 328,692,783 shares that are authorized and unreserved for issuance. Up to that amount can currently be dumped without increasing the A/S again unless they reverse split.
That information can be found here...
PRER14C
History shows that SIRG was trading in the trips and is where this will go back to if the trend of toxic financing and dilution continues.
Yeah, putting the "cart before the horse" it seems.
LOL If I remember tomorrow, I will.