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Left message with IR. 2 simple questions:
a) Has an agreement been reached between the company and a financial partner?
b) When can we expect an update or introduction of the financial partner?
Here's what I'm looking at:
The stock went from $0.0013 to $0.009 (690%) on news that the company appointed new management (Tuesday, 14 February 2012), followed up by additional news the company updated their financial & disclosure statements (Friday, 24 February 2012). Both of these events were carried out by management as Objective 1 of their business plan released to the public.
Objective 2 includes the introduction of their financial partner as well as acquisitions. What do you assume will happen to the pps once this news is released?
They executed Objective 1 as they stated they would. What makes you believe they cannot execute on Objective 2?
No unfortunately I was called into a meeting and had 15 minutes for lunch. I'll try giving them a call after work. I'm on central time so they should still be in the office when I get off.
FY2011 10K is due by Friday of next week. My guess is financing news will be out late this week or early next week.
gail- have you spoken with DKGR investor relations at all? I plan on calling them at lunch.
I take it you don't know what a reverse merger is? An exchange for ownership/assets. Not a pure acquisition.
CARSON CITY, Nev., Feb. 14, 2012 /PRNewswire/ -- Drake Gold Resources (OTC Markets: DKGR). Drake is in the final stages of the aforementioned acquisition being vended in. After this, the financial and disclosure statements will be released and subsequently posted to OTC Markets, and the new, asset will be formally announced.
For any inquires please contact Investor Relations at phone: 530-405-3547 or email: IR@Drakegold.com.
CARSON CITY, Nev., March 14, 2012/PRNewswire/ -- Drake Gold Resources (OTC Markets: DKGR) is pleased to announce that it has completed all required financial and disclosure statement filings with OTC Markets Group and, as a result, has obtained the OTC Pink Current Information Tier status.
"Meeting this objective was a critical precursor in the transition of new management and the rolling out of new acquisitions. Management is excited to introduce our financing partner as well as producing oil & gas assets which will conclude our final objective for this phase of the company,"stated CEO Bob Jackson.
I'm just going to keep posting this until they release the news.
Company website: www.drakegold.com
Reverse merger in the works!
I'm in this just to make money like everyone else. What I'm betting on is the financing and acquisition news. If the price goes up to $0.03 as a result, I'll sell and be happy. If any "scam" news come out after that point, I could care less.
If what you're saying is true, and an agressive PR campaign is coming, then why not buy now? Is buying before a PR campaign bad? Not in my experience.
Why take the time, money and effort to update filings? Why get approval for OTC Pink list? Why offer to do an interview and risk your credibility?
Why do any of these things if you truely weren't going to change the direction of the company? Doesn't make sense to do any of this if you're not going to follow thru on objective 2.
What here tells you this is a scam??
I emailed IR Friday and sent a follow up this morning.
Ace- any more news on the pr leak?
Yep. Check out the newsletter their pick (SPK#) just put out. Looks like they're going after APS.
Glad I'm all in with DKGR!!
Rainmaker- get back over to DKGR bud!
Wow! APS's pick is getting hammered. They should have done their DD on DKGR. Would have been a much more promising pick.
AUTO is the market maker identification for Automated Trading Desk Financial Services, LLC. This MM is a subsidiary/division of ATD which are trades handled by super computers (algorithmic trading).
No, I agree. No "bad" information came out of the interview that should induce selling. Just the expectations of "nervous hands" were not met so they got scared and left. Glad some/most of them are gone.
I don't think I'll get anything material. Just trying to get a sneak peak.
DKGR Interview DD. Please read.
The annoucement that DKGR's CEO would be conducting an interview was released on Wendesday, March 14th. The stock opened and closed at $0.008 on this day. This morning, the stock opened at $0.0079. This tells me that nothing regarding the interview was priced into the pps from the time it was annouced until this morning. Therefore, the reaction we're seeing is simply nervous hands (mainly retail) and the pps will recover and return to the $0.007- $0.008 range today or early next week.
I emailed Investor Relations with a few questions regarding the financier. I'll post whatever the response is.
Jack Welch was an engineerer. Not someone who had financial intelligence.
I'm holding. Management has executed every objective they've outlined to date. There is no evidence not to believe the acquisition and financing news won't come soon.
Weak hands...
Day traders keeping it under $0.0082.
I'll be listening in to the interview and will post the important comments as I hear them.
I agree. The interview will be used as a catalyst for acquisition related news next week.
In reference to you're private message yesterday, if they have $1.5 mill to use for (shhhhh..), then surely big money is coming in from the financier.
It's possible. But management mentioned the financing news would come prior to the interview. Interview is in an hour and 20 min.
> $.0095
Financial partner announcement should come today in the interview. I don't believe this is simply a Q&A. Based on the most recent PR, management is excited to "announce" the financial partner. It was also mentioned that the financial partner news would come prior to the interview. Since it hasn't came yet, my feeling is it will be annouced in conjunction with the interview.
Also, CEO's don't take time to schedule interview's if there isn't some positive forward looking statements.
Beacon Equity on DKGR:
Agree completely!!
My guess is the interview tomorrow is to kick-start a string of acquisition news to follow next week. The interview is to create attention. Once they've caught everyone's attention, the big news begins to roll out!
I can't seem to find any. Checked OTC Markets, PR Newswire and Drake's website.
Maybe more retail and MM's are starting to take notice.
Ace- Thanks for the info. How do you know it's for 1.5? Better load up now.
Stock Plays Online (DKGR):
Holding 1.5 mill. Added more this morning @ $.0075
The company doesn't say anything, management speaks on behalf of the company. And they just got new management.
If management was going to BS with investors I don't think the CEO would take the time to have a live interview and also spend the money to update all of their filings. Doesn't make much sense to go thru all the effort.
More DKGR DD!!
The company has 50,000,000 of unissued preferred stock. They can exchange all of these shares with a private company, which would be full ownership, in exchange for $xx million in assets. This is the simple idea of a reverse merger.
As an example, DKGR exchanges their 50 mill preferred stock for $50 million in assets of a private company. Now you have $50 mill in assets over 663,743,820 share oustanding = $0.075 pps. They can exchange the preferred stock for however much assets the private company agrees to. So the pps could be much higher.
My guesses are the following:
a) reverse merger with private company holding oil & gas properties
b) reverse merger with private real estate company. DKGR currently owns 7.5 mill shares of a private real estate company in Oregon.
c) both of the above