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.
That must be OK then, right? These multi-million dollar companies rent at the same location and share fax numbers and management to save money on operations, right? How many legitimate mining companies operate in this manner - none.
So heresay is the only detail about this lawsuit? Insufficient information to make an investment choice on.
How about a link to the case?
It does not matter to me - I am just presenting facts to investors. I would not buy this stock. I have been scammed by gold interests which is why I did the research to find out what it costs to extract gold from the earth and what makes gold/precious metal mining viable.
With this company and 2 others operating out of the same location the facts do not support this being a viable investment. Does not mean you can't make money if you buy and sell at the right time. However, I like finding and buying into a viable gold mining investment versus ones like this. Ultimately, little to no gold will be mined and this will eventually run its course like so many others of this type.
Correction not 175M but 175K ounces of gold according to the 1997 BHP assessment in 300M tonnes of earth.
And BHP did not find those levels in it's assessment?
There is a reason the property was abandoned by fortune 500
companies. Buy if you believe this, the facts indicate otherwise.
This company is operated out of the same location as two others:
SUGO, KEPI and ICOA all at 111 Airport Road in Rhode Island.
How is it that a mining, clean tech and wi-fi interest all operate together at the same location with shared management? They even have the same Fax number as ICOA.
If this mining interest had real value in the 100 of millions
don't you believe the management would be located near the
interest versus the other side of the country?
The report indicates .37 ounce per tonne which is considered an extremely low yield and not profitable to mine. I have provided links to facts about my statements - bashing appears to be anything that is contrary to investor belief despite the facts.
1 ounce gold per ton of earth is low yield.
Let's say we have 2M ounces of gold - the real question
is how many tonne's of earth need to be processed to
extract it.
The amount of earth which needs to be processed is just
as important to the amount of estimated gold. Properties
of 1-2 ounces of gold or less per tonne are considered low
yield. It is interesting how the amount of gold in the
property has improved since BHP did their assessment in 1997.
One has to know how many tonnes of earth contain how much gold
in order to get a real number and determine an ROI. Based
on BHP's gold assessment of the property in 1997 there was
nothing for them to walk away from with such low yields.
http://www.timberline-resources.com/main.php?page=190&press=3
1.8B cost to mine 324M in gold?
Basically there is 300M tonne's of earth containing 175M
ounces of gold according to this report.
Mining costs to process 300M tonnes of earth =
300M x 600.00 (low cost per tonne) = 1.8B dollars (cost)
To extract:
175,000 (ounces of gold) x 1850.00 = 324M dollars (profit)
What company would mine this at a loss - none.
From the 1997 Timberline report:
Surface Channel Sample by BHP Returned 40 Ft of
0.37 Oz/Ton Gold (within 140 Ft of 0.12 Oz/on)
Conglomerate Mesa was originally explored by Newmont while it was within the Cerro Gordo Wilderness Study Area (WSA). An initial 22-hole (10,360 feet) reconnaissance drill program focused primarily on just one of the property's mineralized zones ("Resource Area") outlining a mineralized resource estimate pre-dating (and not compliant with) NI 43-101 standards totaling 175,000 ounces of gold contained in 3-million tons grading 0.06 ounces per ton (oz/t).
There is no ROI for mining Mesa therefore there is no value here as a gold stock.
It costs 600-800+ at the minimum to mine gold per tonne of earth. With property yields of less then 1 ounce per tonne of earth there is no ROI on mining the gold on this property. Any legitimate mining company with equipment and resources will look for properties with several ounces of gold per tonne at a minimum.
Please read the info in the post I am responding to about mining gold and the costs associated with it. Facts are facts!
Here is the link to the 1997 Timberline Resources gold content evaluation of this property for Mesa:
http://www.timberline-resources.com/main.php?page=190&press=3
Costs for extracting gold from mining....
I think this will help me as an investor on what to look at when evaluating potential gold investments and what questions to ask.
Worth reading.
http://gold.bullionvault.com/How/GoldMining
http://goldnews.bullionvault.com/gold_mining_51920093
Ahh, an example of the sophisticated ICOA investor at their best!
Believe what you will - scam, this is! ICOA, SUGO and KEPI all at the same location creating shares says it all. Facts are facts.
George is WEBCENTER's CEO - they are the same! This is why the lien is in George's name for WEBCENTER TECHNOLOGIES.
WEBCENTER TECHNOLOGIES, INC
111 AIRPORT ROAD
WARWICK, RI 02886
$317,699.40 SALES/WITHHOLDING/EMPLOYER
Number 8 out of 100 tax delinquent
http://www.nvannualreport.com/entities-DPC-WEBCENTER-TECHNOLOGIES-INC-CIK-0000745084.aspx
http://www.manta.com/c/mmdd887/web-center-technologies-inc
http://www.manta.com/g/mmdd887/george-stroughopoulos
http://www.corporationwiki.com/Rhode-Island/Warwick/web-center-technologies-inc/58464149.aspx
This link shows the name and address for the lien which is George
so it hasn't been paid and what is being said is wrong.
http://www.tax.ri.gov/misc/top100.php
Deptartment Of Revenue
Top 100 Tax Delinquents
WEBCENTER TECHNOLOGIES, INC
111 AIRPORT ROAD
WARWICK, RI 02886
$317,699.40 SALES/WITHHOLDING/EMPLOYER
Number 8 out of 100 tax delinquent
Certainly hope for something other then .0001. Good luck.
Better then wasting money! Good luck to you!
Tax lien report is dated 1 August 2011 - must have paid those taxes in the last 15-20 days or so? When did George say those taxes were paid? No credibility. At least we will have something to verify when the next tax lien report is generated by RI or if they can verify the info by calling the number listed on the lien report. What have you said in the past about the length of time to do financials? Maybe he got the money from his CFO's other companies operating out of the same location?
http://www.tax.ri.gov/documents/lien/xlien.pdf
200701494 STROUTHOPOULOS GEORGE 111 AIRPORT ROAD WARWICK RI 02886
Problem with old gold mines is they have been typically picked clean and to pursue them is far more costly to extract gold. The grams of gold per ton is typically very low and mining has to dig deeper and process more earth to extract gold. This is not cost effective and very low ROI. Any active gold mining company, those with equipment and people are going to be extracting from areas of high grams per ton and not low ones like this area. It takes roughly 800.00 or more a tonne to mine and process the gold from the earth.
Has the DTC suspension been lifted from CNEX?
Also, there has been zero responses from the CEO, the website is expired and the IR firm no longer employed by CNEX or another way of saying is they quit as they were not getting paid. So where is the CEO? Gone it appears. Another long running Canadian gold mining scam.
Tried to help with facts and info about this and now the truth is becoming more apparent as time progresses and the failure to deliver any substantial revenue generating business or activities. With several companies operating out of the same location with the same management for these companies it is obvious to me what this indicates. How is this bashing when these assessments and facts do not agree with others beliefs? It isn't. Live and learn from this.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65720777
All the .0001's you can buy will be coming as it is just paper which appears to have little to no value. If someone can show verifiable revenue streams - actual numbers then there is a chance. However, other then hearing about products and services ICOA does not appear to have any substantive revenue streams that will make this a valuable company at this time. 20+ years and trading at .0001 adds validity to this. Also, the RS last year did not remain at or above the RS value which would indicate no sustaining or substantive value behind the company. Please feel free to refute this information with facts, not speculation or generalities.
Here is why this investment is a poor bet....
Here is information on this company and its management.
Keep in mind that the company employee data is dated and
it is not in ICOA's best interest to indicate they have
less to few employees. Facts are facts people.
http://www.tax.ri.gov/misc/top100.php
State Of Rhode Island
Division of Taxation
Deptartment Of Revenue
Top 100 Tax Delinquents
WEBCENTER TECHNOLOGIES, INC
111 AIRPORT ROAD
WARWICK, RI 02886
$317,699.40 SALES/WITHHOLDING/EMPLOYER
Number 8 out of 100 tax delinquent
http://www.nvannualreport.com/entities-DPC-WEBCENTER-TECHNOLOGIES-INC-CIK-0000745084.aspx
http://www.manta.com/c/mmdd887/web-center-technologies-inc
http://www.manta.com/g/mmdd887/george-stroughopoulos
http://www.corporationwiki.com/Rhode-Island/Warwick/web-center-technologies-inc/58464149.aspx
Here are the State Of Rhode Island Division Of Taxation Liens
if there is any question this is Geroge:
http://www.tax.ri.gov/documents/lien/xlien.pdf
200701494 STROUTHOPOULOS GEORGE 111 AIRPORT ROAD WARWICK RI 02886
Also Erwin W. Vahlsing has tax liens as well:
201000147 VAHLSING ERWIN W 3 JASMINE LANE JOHNSTON RI 02919
Picture, age and location and additional info on Vahlsing:
http://pipl.com/search/?FirstName=Erwin&LastName=Vahlsing&City=Warwick&State=RI&Country=US&CategoryID=2&Interface=46
http://pipl.com/search/?FirstName=Erwin&LastName=Vahlsing&City=&State=RI&Country=US&CategoryID=2&Interface=46
http://www.plaxo.com/directory/profile/210453434295/27ac8971/Erwin/Vahlsing
http://people.forbes.com/profile/erwin-vahlsing/141042
Company has been delinquent with taxes from at least 2005:
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=4354351-167793-168195&SessionID=uAZFHqfYVohHtP7
ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Here is additional info on George and this is why it appeared George may be 69:
http://investing.businessweek.com/research/stocks/people/person.asp?personId=1450346&ticker=ICOA:US
http://www.peoplesmart.com/psp.aspx?_act=resultnames&search=name&firstName=george&lastName=strouthopoulos&city=Providence&state=RI&cam=1153&utm_campaign=ppr-results
http://www.peekyou.com/_strouthopoulos
http://www.spoke.com/profiles/mWpECUf
There was a George Strouthopoulos listed at Arbor Drive age 69:
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=4354351-167793-168195&SessionID=uAZFHqfYVohHtP7
Through July 31, 2005, ICOA leased on an annual basis, a condominium at 3 Arbor Drive,
Providence, RI 02908, for use by traveling executives. The lease was with the Vice
President of Finance, Erwin Vahlsing, Jr., at current market rates for similar
properties in the area.
Wise Technologies Inc
111 Airport Road, Warwick, RI 02889-1049
(401) 352-2300 ?
http://www.prnewswire.com/news-releases/icoa-to-acquire-wise-technologies-54375347.html
- Acquired by ICOA sometime in 2005
http://www.superpages.com/bp/Warwick-RI/Wise-Technologies-INC-L2063862418.htm
I Dock USA
111 Airport Road, Warwick, RI 02889-1049
(401) 352-2300 ?
http://www.manta.com/c/mtkvj6y/i-dock-usa
Link Spot Inc
111 Airport Rd # 1, Warwick, RI 02889-1049
(401) 352-2300
Auth Direct Inc
111 Airport Road, Warwick, RI 02889-1049
(401) 352-2300 ? ?
http://www.manta.com/c/mtkvj6n/auth-direct-inc
Web Center Technologies INC
111 Airport Rd, Warwick, RI 02889
http://icoacorp.com...
(401) 352-2300 Additional Contacts
http://www.manta.com/c/mtkvj6s/web-center-technologies-inc
Other Erwin Vahlsing business ventures:
KEPI
Clean Energy & Power Inc
111 Airport Rd # 2, Warwick, RI 02889-1049
(401) 648-0805 ?
SUGO
Sungro Minerals, Inc.
111 Airport Rd. – Unit 5
Warwick, RI 02889
Phone: (401) 648-0805
FAX: (401) 648-0699
If the CEO told me everything is legit then it is - all will see in the end. How do you explain management involved in running three different companies from the same address in different areas of business? ICOA, SUGO and KEPI (may be others). This is OK because?
Oh, and a 75B RS of 10K to 1 didn't?
ICOA in biz how long? PPS=? - facts are facts!
"The CEO told me it is not a scam" is not good enough.
10 years at .0001 - yes very tired! Definitely a scam if there ever was one. Prove to me it is not. Three or more companies in different areas of business at the same address sharing management between wi-fi, mining and clean tech, anyone want to add to that list? PPS says it all!!!!!
One other point to make on this - when there is a large selling of shares into the market and there is an indication it is a "retail vendor" or some such and they have no control - who issued the shares to the vendor for payment or monies - ICOA. Still waiting to see what service or product is going to make this a success - still not seeing it today. I hope George and company are able to pull a rabbit out of the hat.
Can you? George is not (directly), selling shares into the market. Nothing wrong with that statement. However, when shares are being dumped into the market they are issued from where? George and company!
Rephrase - George either sells shares to investors or issues them as payment then that entity sells the discounted shares on the market for an instant profit. Have to ask George the right questions. Sure, he probably does not sell shares directly into the market.
Not going to penny land w/ 900.00 (less then) of share sales in a day. No appreciable volume other then ICOA dumping share days which should be happening soon. George and company need to pay their share of the rent with SUGO and KEPI.
Look CFO is a CEO at Airport Rd as well - must be saving a lot of money running all these multi-million dollar companies from one office - ICOA - Wi-FI, SUGO - Mining and KEPI - Clean energy. How do they do all these different companies from one location - WOW!
http://investorshub.advfn.com/boards//board.aspx?board_id=5040
Contact KEPI.PK
http://www.cleanenergyandpower.com
Address:
111 Airport Road,
Unit 2 Warwick,
RI 02889
Phone: 401-648-0803 401-648-0803
I suspect you are correct.
A company can state no R/S in PR and still do one - Remember the safe harbor statements at the bottom. It is all perfectly legal even if it is unethical. Not saying ICOA is going to do one, just that they can PR/say they are not going to do one and end up doing it anyways. Keep this in mind when hearing these statements.
Look, ICOA & SUGO share the same FAX# - nothing wrong there! Also, last in the news was 2006 from the updated ICOA
website - nothing in the news for 5 years.
Look for yourselves:
ICOA
COMPANY HEADQUARTERS
111 Airport Road
Warwick, RI 02889
USA
Tel: +1-401-648-0690
Fax: +1-401-648-0699
TECHNICAL & CUSTOMER SERVICE
Tel: +1-401-648-0690
Email: support@icoamail.com
SUGO
Corporate Website
sungrominerals.com
Contact Info
Sungro Minerals, Inc.
111 Airport Rd. – Unit 5
Warwick, RI 02889
Phone: (401) 648-0805
FAX: (401) 648-0699
2006 Last "In The News" for ICOA from their website:
2006/09/09 – BAY AREA TECH JOURNAL :: WI-FI PROVIDER ICOA ACQUIRES SAN JOSE-BASED AUTHDIRECT
2006/01/06 – GRNOW :: AIRPORT NOW OFFERS WIRELESS
2005/10/19 – USA TODAY :: STEWART AIRPORT NOW OFFERS WI-FI SERVICE
2005/10/16 – BOSTON GLOBE :: BOATERS NO LONGER MUST LEAVE THE WATER TO SURF THE WEB
2005/09/03 – KALAMAZOO GAZETTE :: AIRPORT PLANS CEREMONY TO LAUNCH WIRELESS ACCESS
2004/12/21 – BROADBAND WIRELESS EXCHANGE MA :: ICOA FEATURED IN DECEMBER FORBES MAGAZINE SPECIAL SECTION ON WI-FI
2004/11/01 – LAN PRODUCT NEWS :: ICOA LAUNCHES AIRPORT WI-FI NETWORK AT GRK
2004/04/13 – AIRPORTS :: ICOA ACTIVATES WI-FI SERVICES AT CLERMONT COUNTY AIRPORT, OHIO
The truth is last year it looked like it had potential - however, it looks like I got suckered with the rest.
Just because it is not legitimate does not mean one can't make money on it. Typical exploratory mining scam which has the same CFO as ICOA. Must be that ICOA is OK and SUGO is not - do not think so. I personally do not like investing in scams.
ICOA over 10+ years and trading at .0001 - how many legitimate companies are in this range after 10 years? Any links to support this? This is not an opinion but a fact!
Maybe here: 111 Airport Rd. - Unit 5?
Corporate Website
sungrominerals.com
Contact Info
Sungro Minerals, Inc.
111 Airport Rd. – Unit 5
Warwick, RI 02889
Phone: (401) 648-0805
FAX: (401) 648-0699
Until George does something to either disprove or change my opinion I will post what appears to be happening. Yes, one of us will be proven right or wrong, I hope you are right, however, I do not believe that will be the case based on what is occurring and known at this time.
BTW both companies a WI-FI (ICOA) and mining (SUGO), happen to be located at airport road in RI - coincidence? I suspect not.