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MrBigz....
Your response to tecch1000 included "your mention of dilution, reverse splits, etc is just speculation and your opinion with no basis or fact, so why post it?"
That's what Unico is all about, and, has been for some time --- dilution, reverse splits, etc. The only way Unico can pay the bills is to sell shares. It's preferred method is Death Spiral Financing -- issue short term CD's, default on them, get sued, settle for shares at 8-20cents on the dollar, then the converted shares are sold into the market. It has been going on since 2004 or longer and is continuing right before your eyes. The facts are undisputable!!!!
Here's a little history lesson....
Here's what has happened to the share structure over the years...
Shares outstanding:
Under Ray Brown:
7/7/00 55,266,712
12/27/00 64,785,046
5/22/01 66,893,060
7/6/01 67,893,969
10/08/01 70,054,487
12/31/01 69,678,487
5/21/02 72,062,974
7/10/02 74,112,974
10/7/02 74,112,974
1/8/03 75,112,974
6/11/03 77,507,974
7/10/03 78,257,974
10/15/03 85,852,974
1/9/04 88,952,974
5/27/04 93,462,974
7/14/04 93,462,974
Quite a reasonable amount of dilution for a company trying to do something.
Now enter Mark Lopez as CEO and his Death Spiral Financing scheme...
11/22/04 335,427,896
2/23/05 484,427,896
5/20/05 498,427,896
Note thet the Authorized shares were almost maxed out at 500 mil.
7/13/05 498,427,896
10/14/05 498,427,896
1/3/06 498,427,896
Now the Authorized shares was raised to 5 Billion.
6/2/06 4,899,096,450
7/17/06 4,909,096,450
First MASSIVE reverse split 1:100
8/11/06 49,090,965
10/12/06 182,411,108
1/11/07 747,899,608
6/11/07 1,906,735,609
7/6/07 2,915,363,072
1/7/08 4,815,363,072
5/8/08 4,940,363,072
Now the second MASSIVE reverse split 1:500
7/1/08 9,880,726
10/10/08 12,306,929
1/12/09 23,679,981
6/4/09 141,784,859
7/5/09 202,750,052
And at least another 100,000,000 added since the last 10-Q ------ only 2 months ago. The PUMP AND DUMP continues unabated and most of you cannot see it!!!!...... and you don't care as you are only interested in flipping this to the bigger fool.
EarnestDD,
That's exactly what this has been and continues to this day...
a PUMP AND DUMP operation
EarnestDD,
(couertesy of orowheat111)
"The BODs have consisted of (over the years) a night club performer, a trailer park owner/manager, a dog and cat care facility manager, a retired banker, two of Ray Brown's sons and an auto repair garage owner/operator. All but two have resigned or passed a way. One of the resigned directors suposedly complained and protested of never being informed and being notified of BOD meetings. He was given one million shares shortly before resigning. So just how closely did/does Lopez work with the BODs anyways?"
Absolutely a ton of mining experience ----- NOT
ROTFLMAO
From a PR.....
"Charles Madsen, who serves as General Manager of Unico’s wholly owned Deer Trail Mining Company, LLC subsidiary, has been promoted to the position of Executive Vice President for operations for Unico, Inc"
This is the same Charlie Madsen who said the mill would be producing in April 2007.
This is also the same Charlie Madsen who has no previous mining experience what-so-ever.
This is also the same Charlie Madsen who was a painting sub-contractor and a rental unit maintainence tech prior to joining Unico. His father-in-law, Ken Brown, former president of Unico, Ray Brown's son, was an unemployed broadcast technician prior to joining Unico.
Talk about nepotism!!!
ROTFLMAO
Dem Franchise Boys...
That's a one room office that Unico uses as a mail drop!!!
ROTFLMAO
G_Money....
Then again, it will probably have a small pop on the open and then tank as is normally the case.
tecch10000,
Remember it well, especially the escrowed shares (a result of CD's being converted) that Markey boy voted.
Grrrrrrrrrr....
ahdioyoda,
Looking forward to 1-29-2010
Dem Franchisce Boyz....
You're gonna find out you have significantly underestimated the risk in this share dumping scam.
Dem Franchise Boyz...
Here's a little history lesson....
Here's what has happened to the share structure over the years...
Shares outstanding:
Under Ray Brown:
7/7/00 55,266,712
12/27/00 64,785,046
5/22/01 66,893,060
7/6/01 67,893,969
10/08/01 70,054,487
12/31/01 69,678,487
5/21/02 72,062,974
7/10/02 74,112,974
10/7/02 74,112,974
1/8/03 75,112,974
6/11/03 77,507,974
7/10/03 78,257,974
10/15/03 85,852,974
1/9/04 88,952,974
5/27/04 93,462,974
7/14/04 93,462,974
Quite a reasonable amount of dilution for a company trying to do something.
Now enter Mark Lopez as CEO and his Death Spiral Financing scheme...
11/22/04 335,427,896
2/23/05 484,427,896
5/20/05 498,427,896
Note thet the Authorized shares were almost maxed out at 500 mil.
7/13/05 498,427,896
10/14/05 498,427,896
1/3/06 498,427,896
Now the Authorized shares was raised to 5 Billion.
6/2/06 4,899,096,450
7/17/06 4,909,096,450
First MASSIVE reverse split 1:100
8/11/06 49,090,965
10/12/06 182,411,108
1/11/07 747,899,608
6/11/07 1,906,735,609
7/6/07 2,915,363,072
1/7/08 4,815,363,072
5/8/08 4,940,363,072
Now the second MASSIVE reverse split 1:500
7/1/08 9,880,726
10/10/08 12,306,929
1/12/09 23,679,981
6/4/09 141,784,859
7/5/09 202,750,052
And at least another 100,000,000 added since the last 10-Q ------ only 2 months ago. The PUMP AND DUMP continues unabated and most of you cannot see it!!!!...... and don't care as you are only interested in flipping this to the bigger fool
.
G_Money....
"i see- not proven but estimated"
Funny thing, this has never showed up in the SEC filings where Unico MUST tell the truth under penalty of perjury.
G_Money....
"and you are saying UNCO will find no company who is willing drill inorder to prove or disprove reserves?"
Let me ask you, if you were a contract driller, would you contract with, and drill Unico's properties knowing full well your chances of getting paid without having to sue are slim to none????
Remember one thing G_Money, Unico can, and has, said almost anything in PR's which have yet to be proven (in other words, misrepresentations and outright lies), yet, when it comes to the SEC filings they must tell the real truth under penalty of perjury.
ALL of those misrepresentations and outright lies will be brought out in the shareholders lawsuit against the BOD, which by the way is not far off. See....
http://www.kkbs-law.com/lawsuits/Unico.pdf
Unico has tried every trick in the book to delay this lawsuit and has been ruled against by the courts in EVERY attempt.
Hi ho, hi ho
It's off to trial we go!!!
ROTFLMAO
G.Money
Reserves have NOT been proven.
To do that requires a drill program. The last drill program ended in 2005 and there have been none since.
Unico will have a VERY tough time contracting any drillers to conduct those efforts to prove a resource or reserves as every driller Unico contracted with to drill in the past had to sue Unico to get paid. That word spreads.
courtesy of orowheat111 from another board.....
"In October 2005 UNCO announced that the drilling program was completed, well over five months after they had terminated it.
UNCO announced in April 2005 that the drilling had begun, five months after they started drilling.
It took UNCO over two and half years to post any portion of the Behre Dolbear report. (analyzing those drill cores and proving no economical resource exists)
UNCO let the shareholders believe that the drilling had defined a resource. While all that time they were spending millions building a mill, and bought the mine. All that money came right out of the shareholder's pockets.
Seems withholding vital information was done on purpose and turned out to be a brilliant way to sell diluted shares.
sgt947....
In Unico's own words in the SEC filings (all 10-Q's and 10-K's)
"There are no known, proven or probable reserves on the property."
This was as a result of the SEC finding that Unico had improperly booked some of the Convertible Debentures.
They had booked all of the CD's as liabilities and ONLY those in default can be so booked.
Have no fear, those CD's will be in default shortly and the liability will be re-booked as such.
Also, in Unico's own words... from the SEC filings
"There are no known, proven or probable reserves on the property."
Dem Franchise Boyz,
Yeah and the Transfer Agent is GAGGED by Unico.
BIG RED FLAG!!!!
And the Company office address is a mail drop!!!
The only people 'buying' are you day traders.
What we are seeing is real time verification of The Greater Fool Theory.
Looks like Royal Mines 'lixiviation process' for recovering PM is not all it's cracked up to be....
The following corporate developments occurred since our the filing on July 29, 2009 of our Annual Report for the fiscal year ended April 30, 2009 with the Securities and Exchange Commission:
"We completed our pilot production test on the Smith Lease during the year ended April 30, 2009. The results from our test were very promising, although inconclusive as far as the commercial viability of the gravity concentration process. Accordingly, we had a third party concentration technology evaluate the material to see if they can get consistent, higher concentrate results. However, the third party’s results were inconclusive. We have decided to delay further testing until we obtain additional financing, of which there is no assurance."
WRONG again MrBigz
"UNCO new retail been coming in and trying to chrew thru all the shares being sold by old bagholders"
The volume of late has been you daytraders, not new retail and as you say 'old bagholders'. The shares come right off of Unico's printing press. Real investors would NEVER touch this POS after doing their DD.
Lopez and Unico have LOTS more shares to DUMP on the market than you few daytraders are willing to buy. That's why the price takned yesterday, and, why it will continue to tank as it is Unico's ONLY source of revenue.
History is repeating itself for the umpteenth time.
Why one major shareholder previously sold ......
(From the SEC filings)
Purpose of above-disclosed transaction - 02/18/2009 disposition of 900,000 common shares of Unico Inc. (AZ) new (OTC BB UNCO.OB). for a loss - is due to this investor's need - to capitulate per economic conditions & Unico Mining Inc. inaction of reasonable mining operations and sale of concentrates.
This investor has concerns with Unico Mining, Inc. relying on debenture financing and funding - where by companies / individual(s) purchase mature debentures in exchange for an opportunity to receive 50% off the stock bid price of common share of Unico Mining Inc.
This investor assisted Unico Mining, Inc. with capital by purchasing a 90K debenture (reported on prior SEC 13d) from Moore Investments while Unico Mining, Inc. was in transistion of working towards some level / reasonable mining operations and production of concentrate. Ken Weidrich CFO reported to this investor that he was having difficulties raising capital for Unico Mining Inc. payroll.
This investor accepted and / or participated with above-described debenture transaction to personally improve stock position and reduce stock average given that this investor lost tremendous amounts of value of owned common shares of Unico Mining, Inc. September 2007 - up to this point - secondary to debenture financing.
Ken Weidrich CFO assured this investor during above-mentioned debenture transaction that Unico Mining had strong intentions of steering away from raising capital from the sale of mature debentures to other companies or individual(s). Ken Weidrich CFO indicated that there would be an earnest effort to raise capital with consistent mining operations and sale of concentrates rather than continued debenture financing.
To date - no concentrate has been sold because no significant amount of concentrate has been produced so that Unico Mining Inc. can sustain their concept. (And 8 months later this is still true)
Note that this investor has had SEC amendment obligations / disclosures with past and presently owned common shares of Unico Mining, Inc.
After careful review of past & present Sec 13d & form 3 or 4 report(s) - none of the other companies or individual(s) acquiring mature debentures have reported or disclosed acquisitions or disposition of common shares of Unico Mining, Inc. - relative to SEC Amendment Obligation.
If the companies or individual(s) acquiring mature debentures converted all of their debentures into common share of Unico Mining Inc. - these companies and / or individuals would be compelled to report change of stock position whether acquisition(s) or disposition(s) - SEC amendment obligations.
Either the companies or individual(s) that are acquiring these mature debentures are not aware of disclosure to the public through the SEC -or- decisive amounts of common shares of Unico Mining Inc, (less than 5% of the market cap - the threshold SEC amendment obligation) are being converted & transferred to companies or individual(s) to avoid apposite disclosures to the public & sell common shares for marginal profits between market price of stock and discounted stock bid price. Once common shares of Unico Mining, Inc. are sold - companies or individual(s) may go back and convert another portion of their debenture with Unico Mining, Inc. (less than 5% of market cap) into common shares at a 50% discount of the stock bid price. When those common shares are sold for another marginal
profit - the cycle continues - the stock price continues to decline - and these companies or individual(s) are the few who are financially
benefiting at the expense of Unico Mining Inc. stock price and the common shareholders.
If the latter assumption / statment is true - this investor would consider these actions: financial collusion against stockholders of Unico Mining, Inc.
If the companies or individual(s) purchasing mature debentures are:
1) converting portions of interest bearing debentures of Unico Mining Inc. common shares (less than 5% of market cap - SEC amendment obligation - no disclosure to the public),
2) acquiring the common shares at a 50% discount of the stock bid price,
3) and disposing (selling) of common shares in the open market - this would in effect drive the stock price of Unico Mining, Inc. down and negatively impact all stockholders of Unico Mining, Inc. that were locked in at a higher stock price & position.
This investor finds it interesting & financially convenient that Mark Lopez CEO & Ken Weidrich CFO are not common shareholders of Unico Mining, Inc. specifically: 2006, 2007, 2008, & 2009.
Moore Investments do not appear to be reporting SEC reports regarding ownership of common shares of Unico Mining thence holding immature and mature debentures at the potential financial discretion of Unico Mining Inc. - at the expense of the stock price and applicable stockholders.
Ray Brown will convert accurred interest of monies owed to him - by Unico Mining, Inc. - to common shares at 40% discount from the stock bid price.
This investor will continue to release significant common shares of Unico Mining, Inc. during the month of February 2009 due to the inaction to participate with reasonable mining operations and questionable standards of practice with raising capital - continued debenture financing.
This investor has lost a lot of money with earlier stock investments and participation with said debenture with Unico Mining, Inc. There is a consistent downward trend since 2006 - to present with creative debenture funding and financing at the expense of common shareholders of Unico Mining, Inc.
This investor is disclosing reason(s) for present and future dispostion of common shares of Unico Mining, Inc. - based on incontrovertible facts that have led to my professional opinion(s) and applicable action(s). By definition this investor is an insider with consideration of the amount of common shares of Unico Mining, Inc. owned.
If Unico Mining, Inc. is formally investigated and / or scrutinized this investor believes that they would have difficulties legally
defending their actions and inactions.
(a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; N/A.
(b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its
subsidiaries; N/A.
(c) A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; N/A.
(d) Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; N/A.
(e) Any material change in the present capitalization or dividend policy of the issuer; N/A.
(f) Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; N/A.
(g) Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; N/A.
(h) Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; N/A.
(i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; N/A. or
(j) Any action similar to any of those enumerated above. N/A.
moneyeve,
"Not sure what happened today"
It's really pretty easy to figure out. Lopez and Unico have LOTS more shares to DUMP on the market than you few daytraders are willing to buy.
History is repeating itself for the umpteenth time.
Could be.
One thing for sure, this group of pumpers couldn't hold a candle to some of those that were around this in the past.
The problem here is they have accounted for much of the recent volume buying up what the company is diluting. The rush to the exit will be VERY crowded when they all try to cash out.
They will realize that there are few 'investors' out there that will touch this POS.
Dem Franchise Boyz
"so now your a prophet??"
Unico has defaulted on EVERY CD they have issued when they became due. That's in excess of 100 CD's.
One does not have to be a prophet to figure out what will happen here. It's part of the Death Spiral Financing scam!!
This was as a result of the SEC finding that Unico had improperly booked some of the Convertible Debentures.
They had booked all of the CD's as liabilities and ONLY those in default can be so booked.
Have no fear, those CD's will be in default shortly and the liability will be re-booked as such.
As this POS drops through it's previous lows, you guys will be falling all over each other trying to get out at minimal losses.
History is definitely repeating itself here.
This is nothing more than a 'dead cat bounce' fueled by paid pumpers and day traders trying to play a momo pop. And it is VERY short lived.
moneyeve,
Looks like Royal Mines 'lixiviation process' for recovering PM is not all it's cracked up to be....
The following corporate developments occurred since our the filing on July 29, 2009 of our Annual Report for the fiscal year ended April 30, 2009 with the Securities and Exchange Commission:
"We completed our pilot production test on the Smith Lease during the year ended April 30, 2009. The results from our test were very promising, although inconclusive as far as the commercial viability of the gravity concentration process. Accordingly, we had a third party concentration technology evaluate the material to see if they can get consistent, higher concentrate results. However, the third party’s results were inconclusive. We have decided to delay further testing until we obtain additional financing, of which there is no assurance."
G_Money,
They have been 'mining' shareholders pockets for at least 6 years.
Here's a little history lesson....
Here's what has happened to the share structure over the years...
Shares outstanding:
Under Ray Brown:
7/7/00 55,266,712
12/27/00 64,785,046
5/22/01 66,893,060
7/6/01 67,893,969
10/08/01 70,054,487
12/31/01 69,678,487
5/21/02 72,062,974
7/10/02 74,112,974
10/7/02 74,112,974
1/8/03 75,112,974
6/11/03 77,507,974
7/10/03 78,257,974
10/15/03 85,852,974
1/9/04 88,952,974
5/27/04 93,462,974
7/14/04 93,462,974
Quite a reasonable amount of dilution for a company trying to do something.
Now enter Mark Lopez as CEO and his Death Spiral Financing scheme...
11/22/04 335,427,896
2/23/05 484,427,896
5/20/05 498,427,896
Note thet the Authorized shares were almost maxed out at 500 mil.
7/13/05 498,427,896
10/14/05 498,427,896
1/3/06 498,427,896
Now the Authorized shares was raised to 5 Billion.
6/2/06 4,899,096,450
7/17/06 4,909,096,450
First MASSIVE reverse split 1:100
8/11/06 49,090,965
10/12/06 182,411,108
1/11/07 747,899,608
6/11/07 1,906,735,609
7/6/07 2,915,363,072
1/7/08 4,815,363,072
5/8/08 4,940,363,072
Now the second MASSIVE reverse split 1:500
7/1/08 9,880,726
10/10/08 12,306,929
1/12/09 23,679,981
6/4/09 141,784,859
7/5/09 202,750,052
And at least another 100,000,000 added since the last 10-Q ------ only 2 months ago. The PUMP AND DUMP continues unabated and most of you cannot see it!!!!...... and don't care as you are only interested in flipping this to the bigger fool
.
In Unico's own words...
"There are no known, proven or probable reserves on the property."
This REALLY says it all!!!
Courtesy of bigjohn....
"The company is basically valueless. They have nothing. No resources, No Drill Programs, Not even any Potential reserves according to their own aasys. Just some low grade tailings from decades ago.
There is no hope of any real mining occurring here.
Simply put, The Deer Trail mine is a vehicle for the company to utilize its vague Press Releases that hint, imply or suggest profit that absolutely does not exist... in order to off-load shares. The Pumps go along for the ride getting in and out quickly and trapping Newbees money.
Just your basic pyramid scheme.
Last Guy out is a Rotten Egg!, and looses his arse
Hmmmmmmmm
Executive Vice President of Operations, Charles Madsen
Wonder just what Ray Brown's 32 year old grandson-in-law did before he went to work for Unico in this high profile position???
If memory serves me, he was a house painter!!!!
ROTFLMAO
You can play the stock WITHOUT PUMPING in order to get someone to buy your shares on a momo pop.
Again, this is nothing more than a Death Spiral Financing, share selling scam.
The investigation by the SEC for securities FRAUD is still ongoing.
And a MUCH BIGGER problem ($20+ mil)....
http://www.kkbs-law.com/lawsuits/Unico.pdf
And an even BIGGER problem....
"Unico received a Subpoena Duces Tecum dated November 3, 2008 captioned “In the Matter of Certain Unregistered Offerings/HO-10859” requesting copies of various documents, most of which are related to certain fund raising efforts in which Unico engaged through the issuance of convertible debentures, and the settlements of many of those convertible debentures that Unico defaulted on. The holders of the debentures or their assignees filed a large number of actions in Florida State Court which were eventually settled by Unico, Incorporated and the various debenture holders/assignees by agreeing to issue substantial number of shares of Unico common stock at prices that were significantly discounted from the then existing market prices for Unico shares, in court approved settlements. Certain officers and/or directors of Unico received similar subpoenas from the SEC, and depositions of those officers or directors were taken in March 2009. No action has yet been taken by the Securities and Exchange Commission against Unico and/or its officers and directors following the depositions."
Dem Franchise Boyz,
One VERY big problem....
In Unico's own words...
"There are no known, proven or probable reserves on the property."
Sorry, WRONG again...
The insiders 'buys' were really NOT buys.
All they did was convert the interest due and some principal on the Convertible Debentures they hold into shares at deep discount.
NO money changed hands.
It was a PR event, plain and simple.... all part of the scam!
And I'll type slower for you....
Y o u
d o
n o t
h a v e
a
c l u e!!!!
MM,
So you "don't put much thought in your post's.."
Well how about this statement...
"There are no known, proven or probable reserves on the property."
Source: Unico's latest 10-Q, and for that matter all the 10-q's and 10-K's for many years.
You obviously do NOT have a clue!!
ROTFLMAO