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Not sure when is the last time you reached out to the management team but do you have any idea as to when 10q or 10k may be filed? thanks.
I don't understand your reply. In the filing, I thought it said 5 business days, hence my question. 5 days seemed short if they need more time for whatever reason but I go by what is stated in the filing.
About Scott, i may be wrong, but I believe he was ousted as CEO in 2016 (I can't seemed to find a PR on ihub news stream) and in Feb, he is resigned from the board as a director.
On Shinning tree property claims sale in February, cut and pasted the PR below.
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In consideration for the claims, Shining Tree will receive a 10-year Net Smelter Returns Royalty, at 3% for the first 200,000 ounces of gold and 2% thereafter. During the term of the Net Smelter Returns Royalty, if Green Swan files a NI43-101 compliance resource estimate of at least one million ounces of gold grading at least 2 grams of gold per tonne, Green Swan will at that time make a one-time payment of USD$250,000 to Shining Tree
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“The Shining Tree gold project was an unfortunate failure in the company’s past. When I joined the Company Board, the Board told shareholders we would clean up the Company’s past and build value for the shareholders. Today’s announcement is another step in that process” said Otto Pichler, Director.
“Shining Tree’s gold project is another example of the Company not successfully building shareholder value in the past. After the failure to complete the Shining Tree Spinout announced in March of 2011, the failed Shining Tree Private placement announced in April of 2012 and the failed acquisition of the Shining Tree properties by Canada Resources PLC in April 2014, these assets were left largely dormant. Further, these mining claims were placed on “Special Status” by the Ontario Ministry of Northern Development and Mining due to the Company failing to carry out good Corporate Social Responsibility and Community Engagement," Stated Dan Byrnes, President and interim CFO of the Company. “With the new Board of Directors strong emphasis on building shareholder value and the complicated issues facing these claims, I believe the sale of these claims provides the best opportunity to create medium and long-term value for the Company shareholders without risking significant additional capital” added Mr. Byrnes.
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I see your post 156242. Its there. But, I see that 156241 is deleted.
My two cents. You are right about 8 months if you are talking about IGEX deal. Otherwise, there were 2 pieces of news in February on Scott's resignation and ShinningTree sale.
When someone communicating "from his perspectives" without actual source or stating it's only his "opinion", he is spreading rumors, in my view. How does he know all these "events" in such details? Sounds like he has beef with Dan/SRSR so he is not a friend of us investors/shareholders, again, imo. Regardless, you are correct that Dan/SRSR is partially responsible for not releasing PR, hence allow rumor mills to do its thing. I hope to hear something from Dan/SRSR soon in the form of PR.
Thanks. Let's hope we see filing soon instead of going pink.
So what is the new deadline after the extension? I thought its only for 5 business days but I guess I am wrong.
Isn't today the deadline to file? Hope we see something soon.
I can't help myself but chime in here. Why are you bashing Dan relentlessly? SO Scott knows about mining (i assume) and he has been to the property. Yet, here we are years later, still waiting for SRSR to take off. Scott sit on his behind for a long time. He has done nothing. Now, Dan got into the lawsuit due to SRSR investment. If anything else, he has more incentive to see SRSR in a better place and recoup his investment lost. Once that happens, the lawsuit may become a less issue for him. NO? In my view, a driven CEO is more important than fraudulent ones. Sure he will have a steep learning curve. But he has a higher chance to be successful than someone who does nothing or selling shares on shareholders' expense. Lastly, so what if Dan visited the property? it's not like he has xray vision that he can see the ores beneath the earth. It's more important for him to be a salesman and get funding to have someone believe in the property and willing to move forward with more study and eventual mining?
Again, this is just my own person views/feelings. I still give Dan the benefit of doubt. I wish him all the best and hope he can make us a few dollars richer.
Unfortunately, without formal update from SRSR or IGEX on what is happening, everyone will voice their pov/opinions. As you stated, most are speculations. However, with track records of the company, some speculations are harder to dispute until company performance proven otherwise. I am just keeping my finger crossed that Dan can make a positive impact and shake off all the baggages left from previous management. It's not an easy task but he still has my support. Though, I have to say, I do feel that we should have chosen a clean shell instead of another problematic company. Perhaps its due to cost. It does cost money that srsr doesn't have to buy a clean shell? Anyway, I don't know the details so that is my question/speculation. LOL
Got it. Thanks for the explanation.
Dan does have a tough problem to solve. As a super long time shareholder, I hope he can succeed to some degree so I can preserve some of my investment or even make money. We will see.
All these selling make me believe that we may not like what we will be seeing in the upcoming filing. We will see.
Question, how can IGEX owns asset if the terms of acquisition have not been met yet? If the deal fall through, asset goes back to SRSR? I am wondering..
Under the terms of the acquisition, the Company will file a Form S-1 to facilitate a distribution of shares so that post-split, 95% of the Indo Global shares shall be held by existing Sarissa shareholders as of the record date, while 5% will be held by existing Indo Global shareholders. Sarissa shareholders will receive 1 new share of Indo Global for every 20 Sarissa shares held on the date of record. The Company intends to file for a name change to Niobium Technology Corporation, a symbol change to “NBTC,” and for a 12,500:1 reverse split, for approval by the Financial Industry Regulatory Authority, Inc. (“FINRA”).
Tick tock.. two more business days or sooner before official filing. Looking forward to hopefully a steady rise of SP.
So.. it seemed current management team is trying to raise fund, which is a good effort. I don't think I ever heard of such effort from last management team? Now, did your source mentioned any feedback from the other party? Did the other party just walk away for good or there are follow up meetings.
Can you prove that Dan is paying himself 250k a year or putting it on the books? Or its just your speculation? I am not sure about 250k amount but he does deserve a salary? With no money in the bank, what wrong with putting this on the book? If SRSR fail, he gets nothing. If SRSR success, he deserves reward? Like all CEOs out there?
Anyway. waiting continues. Still hoping for bigger better outcomes.
Thank you Spark!
0.0666 I guess it will keep going down till we see filings with those financials and share structures.
hahah.. :P
Right now, I see a pile of poop and I am waiting for it to turn into gold still. I like the story but annoyed with continuous selling. I thought I averaged down at the tail end but guess I didn't. Blah. This may not matter much if we get some good news that spell out financials. Hopefully soon..
Ok.. I am done and will shut up for the time being. LOL
"self examination?" I am not allowed to voice how I feel about the stock action? Even with the good story the selling continues. I haven't sold yet and still own GRSO. I think I am allowed to vent?
WOW.. POS.
This is actually why I average down today. Bid hasn't move for a 2-3 days and changed today. May be a sign for reversal. But who knows. Keeping my fingers crossed. If we get any good news, we will move higher.
OK I broke my own rule and average down. My gut feeling said we bottomed and will form a base here till further development. Let's hope I don't get a tummy ache like last time when I average down in the high 20s.
I am ready for more news GRSO! Show me some good news in sales numbers and share structure please! =)
I have emailed Dan a couple months back and was waiting patiently. However, it's time for a PR update on the igex deal. I do support current management but only give them benefit of doubts. A little more transparency for all is a good thing, imo.
This is actually not a bad thing imo. Seller(s) is/are done for now. Potential buyers are probably waiting on the sideline till this story further developed. With all the nice news, the SP continues to slide till where we are now. Folks are cautious, I assume, and they should be. Whoever is willing to average down has probably done so already. I think, filing, clear picture of share structures, further business development and showing that they hit their projected revenues in the next couple of quarters will send us higher. Unfortunately, for me, I need this stock to go up 5x to start making profit. I already invested the full amount I am willing to put into any single penny stock so no average down for me. :(
Volume has come down a bit in the last week or so. Possibly means selling is done or close to done, assuming there aren't any other bad financing deals that we were not aware of. . I bought in the 40s and saw SP went down gradually. If there weren't selling, with the promising outlook, SP should be much higher by now. IMO. But this is a penny stock so I am used to this kind of volatility.
Here is a Nasdaq chart. Look at 1 month chart. Bottom of the chart is the volume bars. Volume were higher in previous 4-6 weeks.
http://www.nasdaq.com/symbol/grso/interactive-chart
Financial reports or future filings will provide a clear picture. In the meantime, according to OTC Markets site: (https://www.otcmarkets.com/stock/GRSO/profile)
Share Structure
Market Value1 $4,845,150 a/o Apr 13, 2017
Authorized Shares 100,000,000 a/o Mar 30, 2017
Outstanding Shares 53,243,410 a/o Mar 30, 2017
I may have missed it but did we ever find out about current share structure?
I actually like the low volume day. Meaning selling is at least slowed down or possibly over. IMO. We can form a base and move up from here. While news about possible business development will be nice, I would love to see earning reports in a quarter or two.
Spark you rock! Keep us posted. Yes, I am sure the CEO is super busy with so many initiatives taking places. While I am very disappointed with share price, I am still keeping my faith in GRSO.
Let's hope we don't have to deal with R/S ever here. If the money are used wisely to invest and build up GRSO businesses, we are looking at a good company in the making. Otherwise.. you know.. just another penny stock.
I just read the 8k. They do need capital for all those acquisitions and expansions. Reg D financing explains all the sellings recently, I think. We should head back up once whoever is selling is out of shares. We shall see. GRSO has a good story so I am holding my bag for now. Let's hope the ceo turns it into a monsta money making machine for us and fill my bags w greenbacks.
One more thing, another poster mentioned the TA is gagged and no clarity on current share structure. This is a red flag to me.
Lucky you! Maybe. If this continue to go down, you may be paying too much. On the other hand, I am jealous of you if this one goes back up. :) Good luck to both of us.
So far, this stock is a major loser. At this rate, we may see sub penny by April. Constant selling and price walk down. Someone said TA is gagged so no one knows about current share structure. Someone is making dough and I doubt its us retail investors. It's a pure gamble at this point. IMO. This is a penny stock! Do Not buy with money you can't afford to lose or you may be get bitter later!!
Still holding my bag. If all the business development claim is true and is truly profitable without sneaky or simply bad "financing" deals behind the scene, this may be a good mid/long term investment. I now need this stock to triple/quadruple to break even. :*(
Another hopeful week. Hoping selling stops and we are moving back up or at least side way till more development news from the company..
Still hoping my bag for now.
Like I said, things can go either way with a penny stock. I believe a month ago you were predicting 1.5 a share. Now you are saying sub-penny. The truth is that we don't know what the future hold at this point except the share pricing is trending down and possibly at the all time low. It's possible that there is dilution but also possible that its year end selling. What we know,based on new releases, is that a potentially profitable business is being built. IF the CEO can pull it off, build up sales and distribution with sound financing options, we are at the beginning of a great run. If this is smoke and mirror and nothing come to fruition, than your sub penny prediction will come true. If you truly believe this is a lost cost, I suggest that you simply move on and don't look back. Better for your health. I bought enough penny stocks over the year to learn to cut my loss and move on.(trust me, easily said than done. I got quite a few garbage worth nothing stocks in my brokerage account.) If you do have any insight on why this is going to sub penny, please share and help out other investors like myself. Thanks.
The stock continued to trend down and that is a fact. While I still want to believe in long term potentials, I would advise new investors not to buy with money they can't afford to lose. This is a "penny stock" and things can go either way really quickly. Great to have optimism but also be aware of downside risks.
I am holding what I have and not averaging down any more. Every time I average down, the price got 20-30% cheaper. Now the stock need to double for me to make profit. :( Looking forward to next few news releases and see how things shape UP. :)
In my view, He is not lying about Scott being a professional. Professional Penny Scammer that is. And, when he said all is lost, he meant Scott's SRSR honey pot.
About 2 months since news...
I hope we get an update or news soon.
Does that mean this is the low or we lost the bottom and ready to fall further? :) I thought I got a bargain at low 30s and its now in mid 20s. I am not chasing/average down anymore on a penny stock. Hope to see a reversal soon.
This is my first MJ bet and hopefully this company can not only grow quickly through M&A but also grow with high margin and profitability.
I wonder if tobacco giants like Altria will make a play in this industry at some point and start gobble up smaller and successful players at some point.