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Southridge Mineral states that it was in the "development and acquisition of gold and silver mines in Mexico," but Bandera Gold, a competing company, said Southridge claimed to have business in places in Mexico where none existed.
Starting in early 2012, Southridge began issuing press releases indicating that it had surface rights to Cinco Minas in Jalisco, Mexico, something that caught the attention of Bandera Gold, a gold exploration company in Alberta, Canada, that said it has ownership of the land.
Bandera Gold has been in a legal dispute with its former joint venture partner since 2008 over a $5.6 million agreement to invest in Cinco Minas.
"[Southridge] was claiming a comprehensive drill program and they were intercepting bonanza grades -- all of which when we were acutely aware the site was dormant. It has not had activity since late 2007," said Stephen Roehrig, Bandera's CEO.
Concerned that Bandera Gold's shareholders might be confused by the conflicting information, Roehrig said he hired an independent security team to monitor the site and found no evidence of mining activity.
Roehrig told ABC News Bandera sent "cease and desist" letters to the address Southridge registered with the SEC. Those letters returned "undeliverable."
Linda Coker, the tenant relations manager at the Dallas office building of Southridge and Southridge Minerals, told the Dallas Morning News that Southridge does not lease space in the building, though she said the company may have had a temporary or virtual office operation there.
"We made efforts to try and communicate with them," Roehrig told ABC News. "There's never been evidence that he at all exists. All attempts to communicate with him ended up as a dead end."
The SEC suspended trading in Southridge stock after the company issued a statement claiming that it had a joint partnership in Mexico with Kinross Gold Corp. of Canada. Kinross told the SEC there was no such deal.
http://news.yahoo.com/2-executives-may-faked-deaths-193752084--abc-news-money.html
IBOX helps investors as it should. The company itself is hurting shareholders JEEBS. LMAO!!!
It most certainly is if it isn't cleared up quickly. LMAO!!!
http://www.sec.gov/investor/alerts/dtcfreezes.pdf
What are “chills” and “freezes” and
why does DTC impose them?
Occasionally a problem may arise with a company or
its securities on deposit at DTC. In some of those
cases DTC may impose a “chill” or a “freeze” on all
the company’s securities. A “chill” is a restriction
placed by DTC on one or more of DTC’s services,
such as limiting a DTC participant’s ability to make
a deposit or withdrawal of the security at DTC. A
chill may remain imposed on a security for just a few
days or for an extended period of time depending
upon the reasons for the chill and whether the issuer
or transfer agent corrects the problem. A “freeze”
is a discontinuation of all services at DTC. Freezes
may last a few days or an extended period of time,
depending on the reason for the freeze. If the reasons
for the freeze cannot be rectified, then the security
will generally be removed from DTC, and securities
transactions in that security will no longer be eligible
to be cleared at any registered clearing agency.
DTC imposes chills and freezes on securities for
various reasons. For example, DTC may impose a
chill on a security because the issuer no longer has a
transfer agent to facilitate the transfer of the security
or the transfer agent is not complying with DTC
rules in its interactions with DTC in transferring the
security. Often this type of situation is resolved within
a short period of time.
Chills and freezes can be imposed on securities
for more complicated reasons, such as when DTC
determines that there may be a legal, regulatory, or
operational problem with the issuance of the security,
or the trading or clearing of transactions involving
the security. For example, DTC may chill or freeze a
security when DTC becomes aware or is informed by
the issuer, its transfer agent, federal or state regulators,
or federal or state law enforcement officials that an
issuance of some or all of the issuer’s securities or
transfer in those securities is in violation of state or
federal law. If DTC suspects that all or a portion of its
holdings of a security may not be freely transferable
as is required for DTC services, it may decide to chill
one or more of its services or place a freeze on all
services for the security. When there is a corporate
reorganization, DTC will temporarily chill the security
for book-entry activities.
When DTC chills or freezes a security, it will issue
a “Participant Notice” to its participants. These
notices are publicly available on DTC’s website at
http://www.dtcc.com/legal/imp_notices. When
securities are frozen, DTC also provides optional
automated notifications to its participants. These
processes provide participants the ability to update
their systems to automatically block future trading of
affected securities, in addition to alerting participant
compliance departments. DTC has information
regarding these processes on its website.
What can investors do?
Prior to investing in a security, investors can ask their
broker-dealer if there are or ever have been any DTC
restrictions placed on any security they are considering
buying or selling. This information may affect your
decision to purchase or sell the security. The brokerdealer or the broker-dealer’s compliance department
should be able to address the inquiry by checking with
its back office or by calling its account manager at
DTC. Given that DTC does not always disclose the
reason for a chill or freeze, a broker-dealer may not
be able to provide its customer with information as to
why the freeze was imposed or if or when it will be
lifted. Investors should also thoroughly research the
company and its transfer agent prior to investing in the
security
A DTC chill is good enough proof. If the BS products EGOC has don't do enough to give it away.
Who else bought this real product and had fantastic results with it besides the CEO's own leasing company? It's just flying off the shelves. LMAO!!!
ZOMG, CEO really wasting time posting on a message board instead of a PR. EGOC SCAM still in trips with BS product.
Then take out those EGOH 4'SSSSSSSSSZZZZZZ!!!!!!! LMAO!!!!!!!!
LMAO!!! PMCM Dumpage now in fours. WHEeeeeee!!!!!!!
.075 Volume also precedes dumpage. Paper tiger bid. LMAO!!!
Dwarf star ready for collapse into a neutron star is ZPPBD.
So really now, who is going to hire an ATYG limo with ads all over it to support that share buyback? LMAO!!!! How many have shown this earth shattering idea of a limo service with advertisements plastered all over it to any one and have them say, "Dang I wish that company had stock to buy, I'll invest in that." or "I want to hire that limo."
https://www.facebook.com/RacingLimosAmerica
I trade not own as most of it is a scam anyways. I traded ATYG from 2/12 up until 5/12 and just watched as the dilution kept hitting until the end of July when I decided to post about it. I got sick of the dilution summer that happened all over, but now laugh at it. I will stop when the dilution does. Seriously if the CEO doesn't like to deal with impatient shareholders he should just go private.
Damn killed that run it almost hit .0003 pre split levels. Huge run LMAO. Scammy traders were counting on old shareholders to load the boat and bring in newbies. Didn't happen so the turnip bleeders bailed early. The dumpers would have dumped anyways.
.0026 close down over 50% nice FIND.
ATYG futures so bright gotta wear shades.
ZPPBD the D is for Delinquent. WHEEEEEEeeeeeee!!!!
The real SUTI float will be known once 2012 audited fins come out. 16 million is not it. LMAO!!!
ATYG CEO thanks shareholders for sunglasses LUXURIATOR STYLE 23 . LMAO!!! The future is looking golden.
http://www.celebritynetworth.com/articles/entertainment-articles/5-expensive-sunglasses-earth/#!/luxuriator-style-23-sunglasses_848/
Concerning future events and the Company's growth and
business strategy. Words such as "expects," "will,"
"intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and
variations on such words and similar expressions are intended to identify
forward-looking statements.
BENEFICIAL SENATE LAW NEWS=AWESOME.
CDEL at .25 on BMSN. WHEEEEEEEEEEEeeeeeeeeeeee!!!!!!!!!!!
Fives still holding on this PMCM POS. Where's that bounce? Looks like a flop.
.0094 BMSN WHEeeeeeeeee!!!!