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You/Vic posted that SGDM has significant assets. I asked for proof of that. My DD shows you are incorrect and I posted an exerpt from their annual report to back up my point. If I am wrong then prove it or withdraw your statement.
As far as I know the acquisition hasn't been completed. I'm waiting for our assistant moderators to tell me otherwise.
Can you point to any statement from SGDM saying that they have completed the acquisition of UniverCompany?
Until they do, they are an empty shell. You claim to be a shareholder so maybe you can tell us why they are worth $6.36 per share?
You/Vic are mistaken. SGDM does not have these assets as it has not acquired UniverCompany yet. From it's annual report dated 2nd April:
"We do not expect to generate any revenues over the next twelve months. Our principal business objective for the next 12 months will be to successfully consummate the proposed acquisition of UniverCompany. If we are not successful, we will then have to seek, investigate and, if such investigation warrants, engage in a business combination with another private entity whose business presents an opportunity for our shareholders."
The only thing that would make shorty cover is a substantial cash offer from a credible company. A share only offer from the Stargolds of this world would cut no ice with them. They would turn on Stargold with a vengence and short it into oblivion imo.
I hope you're right with your optimistic outlook as I'm still holding here for better days ahead.
I don't KNOW but I'm giving my opinion based on the movement of the PPS over the past few weeks. If anybody was accumulating up to 32 million shares it would show there imo.
We don't know the size of the naked short position. It has to be over 0.5% of O/S to make the SHO list but we don't know what number is being used for O/S. With the latest O/S number that's only 1.6 million to make SHO. Figures of 50 million FTD's mentioned here are just speculation.
Thanks Invenstor. 10% of the AURC stock would be ~32 million if the Ibox is correct at this time. Accumulating anything like that number would have a big impact on the PPS so it's safe to assume it hasn't happened imo.
Another factor would be insider buying. These things always leak so if there was a substantial bid on the table we would have seen an impact on the PPS by now. That hasn't happened either.
Not at all. They obviously wouldn't have to buy the shares they already own. It is very common for a company making a buy-out offer to build a stake in the target company first.
There is usually a limit to the amount they can buy before they must make an offer for the remainder. I don't know the rules in the US market.
Don't you think that if someone was considering a cash offer or even a partial cash offer that they would have been accumulating AURC shares at the bargain prices on offer in the past few months? There is no sign that this has been happening and demand for shares has been weak resulting in the present abysmal pps.
Good post DOS although unfortunately I think your ideas on a buyout price are unrealistic. Let's not forget that AURC is trading at 6 cents a share at the moment, whether we like it or not.
The worst possible scenario imo is Star Gold coming along with (say) a one for ten share offer and saying it is equivalent to 63 cents per share. Let's hope that never happens.
There's a space for a signature at the end of the first page but it hasn't been signed on the copy posted. I assume that they have the original stamped copy and it would be better to put that up on the website. Typing the name of the company is not adequate.
Here's what it says:
"Firm’s Signature - Eastlink Consulting Bureau
Moscow City.
March, 15, 2006
Report Date
Chief Auditor"
Hey, Aurus should forget about OTC BB, Frankfurt, London AIM etc.... Hong Kong and Shanghai are the places to be!
I would guess that they posted these statements on their website because they PR'ed that the numbers would be out today. According to DOS, who spoke to Frank La Posta earlier, he had anticipated having the consolidated numbers today. He now estimates that they will be ready on Thursday.
I noticed that the Krong financials weren't stamped but I assumed that this was an unstamped copy and they have the stamped original.
Those are not the final Aurus financials. The consolidated financial statements are to be produced shortly by La Posta and will include the share count as I understand it.
I hope you're right about the serious company making a bid but 2C seems to be in the know and he is making noises about Stargold. They seem to be just a shell company with an OTC BB listing and big ideas. A buy-out by them would really be a reverse merger for Aurus imho.
The benefit would be an instant uplisting to the OTC BB without jumping through all the hoops of filings etc. Such a move would not force shorty to cover however. Instead of being short AURC they would be short SGDM.
If I'm interpreting you correctly you are insinuating that Stargold are the interested party in the proposed buy-out.
A quick look at the Stargold 2006 annual report indicates that they have very little assets and no income this year.
I presume any offer they might make would be a shares only deal. Why would that be of interest to Aurus shareholders?
Maybe you can throw some light on this please?
Good to get your CFO blessing on these numbers. They certainly look legitimate to my non-expert eye. We still need the SEC filing of course to shut these basher idiots up.
Point taken, S-R. I revised that to "as he estimates".
As I understand it that is the role of Laposta and Associates.
They will consolidate the accounts and file the 15c2-11 with the SEC. Then it's off to the races.
If Frank La Posta comes up with the goods on Thursday as he estimates, then I can see no reason why the SEC filing should not follow soon afterwards.
That sounds great, DOS. We need the 15c2-11 filed with the SEC before the market will accept the AF's as legitimate. Posting them on their website means squat unfortunately.
Congrats to all fellow long-suffering longs here. It looks like our ship is finally coming in.
They spoke a lot about the Frankfurt exchange but that hasn't happened yet.
So what happens to those shareholders who have phantom shares in their accounts? How will the NSS crew come up with the certs? This could be interesting.
The link is in the I-box....
http://stage6.divx.com/members/528829/videos/1126555
My guess is the O/S is a lot bigger than stated in the I-box here. Nobody knows for sure because the TA is gagged and the company won't release the numbers.
It makes me wonder how AURC can qualify for the SHO list when the O/S is unknown. Most likely they are working on the old number for the O/S and taking 0.5% of that as the threshold number of FTDs.
Remember this classic from the PR on Dec 15th when the company discovered to its shock, horror and total amazement that it had a naked short problem:
"The Company has learned that the SEC has implemented the Short Sale Threshold rule on its stock which is the result of excessive naked shorting on its securities. Although the Company regrets that such shorting exists, it is very positive that no further shorting shall be allowed to affect the positive developments ahead."
Only five settlement days required to become a threshold security and make the Reg SHO list....
"Threshold securities are equity securities that have an aggregate fail to deliver position for:
five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC))
totaling 10,000 shares or more; and
equal to at least 0.5% of the issuer's total shares outstanding."
http://www.sec.gov/spotlight/keyregshoissues.htm
How do you know what the market cap of this company is when you don't know the O/S? Just curious.
So you are saying that the share structure posted in the I-box is incorrect? This is the first I've heard about 150 million shares to acquire Krong. Just trying to catch up here. Why is the PPS tanking recently? I thought 10 cents was the bottom but I was wrong obviously.
So that means we won't have ole Gerald to kick around anymore.
He'll be greatly missed.
Welcome on board, Martin.
The support at 0.10 has been fairly solid for some time now. I'm not sure it will be possible to buy much lower than that but wtfdik?
Reading between the lines here I'd say that you anticipate that we will get this audited verification of the assets sooner rather than later. Let's hope that you're right. We need something positive. The market is obviously not impressed with the recent PR's.
Good stuff, 2C. I look forward to the updates.
There's a new emphasis in your posts recently on getting the company to do the things necessary for credibility in the market. It's all about transparency as we know.
Thanks for doing the math, Ezzo. Definitely something wrong with the numbers. The 150 ton figure certainly looks low. That's not a lot of ore. It wouldn't be the first time they've issued incorrect numbers by mistake.
I mean 3.33 ounces of gold per day. They've got to be producing more than that surely? A good panhandler could do that much!
I would think that for security reasons they wouldn't want to leave gold bars lying in a safe at the production facility. Much better for AURC to make regular deliveries to the bank.
Specbidder I am very familiar with that slide presentation and have recommended it here in the past. I understand the NSS problem but unlike you I still don't believe that is AURC's problem at the moment.
Go to any list on Ihub and you will find people ranting about naked shorting whenever the pps goes down. I've recently come through a traumatic example of this in another stock that shall be nameless where people were shouting about the NSS and short squeezes etc etc for over a year. Eventually it was proven that NSS wasn't the cause of the problems at all. So I am very skeptical when I hear people beating that drum. Just my opinion as always.
I think Vic answered this question before. As I recall he said that the dividend on restricted shares are usually restricted also. I wouldn't expect the dividend on free-trading shares to be restricted but we won't know for sure until the company clarifies the matter.
Okay so you're saying that this price reduction will take place automatically on the ex-date. I got it. Thanks.
2C will give you his take on this but I think it's because AURC lost the licence to mine the Klyon "maple" deposit. They never officially announced this but all mention of Klyon was removed from the website although curiously they left a picture of it on the title page.
It is possible that there is some shorting going on in which case AURC would appear back on the SHO list in a few days time. Until then it's not proven to be a factor at the moment and I don't believe it is.
I wonder is it possible that the good news today offset the price drop due to this being the record day for the divy?
I'm seeing 0.124 at the moment so the pps is down a bit today.
We need clarification as you say.