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Yup...they already busted Pietrzak....and are hopefully looking into Shepp and NMC as well....
True, but still, I doubt it would happen. The $ that shareholders have lost (and will lose) probably dwarfs his net worth....and his actual NMC holdings are relatively small. Furlong is the one that is most culpable.....but surely most of his (and his family members) ill gotten gains are squirreled away in many of those corps and possibly trusts....
Thanks again for all your efforts!
True, but still, I doubt it would happen. The $ that shareholders have lost probably dwarfs his net worth....and his actual NMC holdings are relatively small. Furlong is the one that is most culpable.....but surely most of his (and his family members) ill gotten gains are squirreled away in many of those corps and possibly trusts....
I doubt that'll happen....it is rare with stinkie stocks.
Does anyone know if RPH or the co had any bank accounts frozen?
My first post here in ages....I follow a bit now and then. I heard about this back when, actually had two limit orders that never filled, thankfully. (just after the first FHAL "big" news) Two days after the first limit order, I was convinced something was smelly.....and never traded.
I was also the first one to post of any personal history with Arlitt, of which I had a lot, which cost me bunches of lost $, back as far as the mid '90's.
I know all about reserves, resources, inferred, indicated, proven, possible, probable, etc....all the terminology, some of the terms have been superceded......
I've been wrong before, but I seriously doubt there will any more good pops in price...there's simply little left that could make it run...save an announcement of a sale---which may not include the sales price..... or some assays results which mayoffer no proof of viability, or some more mention of Blackstock ( which, so far has done nothing, though, to slow the inevitable decline.)
The double printing continues....a good indication that someone is dumping shares..and maybe churning to hide the dumpage....
I've never heard of a class action suit being filed against a penniless grey sheet firm, much less a stinkie pinkie.
No law firm would take the case.
I don't think Shepp has much to worry about. Remember, they don't even have a registered stock. Too bad they are allowed to trade at all.
Technically, you are right.
However, a bit about tailings piles.....
One, never in history has there been even 1/10th the value in them as even the recent suspect assays done by Diversified showed.
Two, there really isn't much to do to produce a feasibility study for tailings. The ease of processing the product would be easy to determine, based on product type.
It is easier to process tailings than even processing a surface deposit. Surface mining can be profitably be done at grades as low as .01opt Au ($9 per ton).......this tidbit of info should be a clue that SV's dirt has little value. If it had even $50 worth per ton, it could be economic to process. But $20,000 per ton, as Jordan's bogus work claimed, or about 1/10th that as Diversified's, no way in _ell!!!!!
Tell it to the courts. All of the HCCA claims were found to be "virtually worthless" Now, tell me what has changed since then?
I have all those old assays and reports saved to my hard drive......they are laughably bogus.
no university ever did any study on the haha "ore", which is naught but tailings.
The board members, as The Facts stated, know nothing of mining, nor does Shepp.....and BX has no experience, either, that shows in any of their profile or news.
It's hearsay that BX had any assays done.
Beside the point, but I can't imagine why they would get involved. They have no experience brokering penny mining deals.
Also, if NMC had any value, they would have proved it themselves years ago, AND they wouldn't have needed to find a buyer. The world would have beaten down their door.
I hope you aren't a pamper....or wear them...heheh
I know, 99.999% for sure, that there is little or no value in the SV dirt. Which means the company will never garner any real interest from any buyer in their right mind.
And you are right, there is nothing good in the doc, save the laughable blurb about BX.....Shepp came clean and painted an accurate picture. It was not pretty, but it was reality. One would have to be an idiot to see anything positive in it.
Alba, the lease hasn't been renewed, according to the disclosure doc....
atlanta, my gut feeling is that there is little chance left for any runs in this stock.
That is, unless they find an alchemist to transmute the elemental dirt.....
or they put out a fluff news saying they have a buyer.....(but don't say for what amount.)
I think, as do samples, pt, and alba, that the BX news is just for show....and that BX will be incapable of accomplishing anything.
Good luck on getting out with a small loss. If I were a enlightened shareholder like The Facts, that'd be my goal.
Lots more double prints, atlanta. I'd not be crowing about .0037 if I held shares!! They could just as well have called the final price .0032, as the last transactions were one sell, and the buy split into two, at .0035 and .0037.....
Where are the shares coming from? Company treasury? Very possible....
That's cool, if true, atlanta. However, the chances of there being more than .02 opt AU or pgm's above trace levels are slim and none.
Thus, BX won't find anyone willing to pay more than a couple million, if that...
The BX connection is meaningless without any value in that SV dirt, period.
Sheppard admitted as much: http://investorshub.advfn.com/boards/quotes.asp?ticker=NMCX&qm_page=72272&qm_symbol=NMCX
scroll down to page 13....
and on page 14:
" Test results obtained by us for certain portions of our properties and concentrates by independant assayers may prove inaccurate for all or any portion of a property or some concentrates."
Bingo. Of course any real mining person knows their assays ARE 100% bogus.
Of course they continue to call the worthless dirt concentrates. Nothing more than deception, subterfuge, even fraud....
Depends on whether he could sell at above the "bid". If not, that's an instant 25% loss, or $75.
On the trades I mentioned, they could have both been sells. The vilified MM's will often give ya more than you're bidding on a sell, if there's some stock out there at a higher level...and vice versa or a buy....
Alright, who's the bozo who just tested the system...
100 share double print at .0032 and .0037 Whoa. He just suffered an instant 5 cent loss..errr, plus commission.
http://investorshub.advfn.com/boards/quotes.asp?ticker=NMCX&qm_page=72272&qm_symbol=NMCX
Only one problem....I don't think BX knows any alchemists. Thus, even they won't be able to transmute the SV elemental dirt into riches beyond belief.
Thus, no sale......
I hope you're reading The Facts' excellent posts. You won't find any hard hitting DD on PP. No one want to admit their fears, that the company is worthless.
Sheppard came close to saying as much in the disclosure doc, though.
A couple years ago, when the AKOL/Fowler debacle occured, I had a conversation with a Fowler rep. After I told them of AKOL's pr, they disavowed any arrangement, and warned AKOL. Those AKOL guys were crooks. They later backed off in a pr.
At the time both NVMG and FWOG had symbols, but had never traded. Since then FWOG has only traded a few 100k shares. Don't know if NVMG ever traded.
FOGC never was a symbol for FWOG, I don't think. FOGL (Frontier O&G) became AKOL, (which falsely claimed to have a JV with FWOG) which became TWOG, then who knows what. It was all a huge scam.
FWOG never traded much volume at all. I think they might be kinda legit. Now kinda a moot point as they're private again, apparantly.
The only reason I can think of why Shepp and NMC may not be sanctioned is because the stock trades grey, and apparantly has no SEC registration. Thus the whole sordid mess can fly inder SEC radar.
But HCCA was an OTCBB stock and filed audited financials. Thus they were busted.
Very well done, The Facts!!
The key, of course, in all this, is assays. They have never had any done by reputable firms. Why? Because they know what those commissioned by Az and done by two of the top firms looked like----.005opt Au and trace Pt.
It should be a simple process to evaluate tailings. But, since the piles have been there for a long time, they would need to collect a number of samples, including at depth, to know for sure what is there.
Smart mining folks have always known. It's simple, no tailings pile on earth has ever contained values even 5% as rich as the most recent bogus assays done by Diversified, or 1% of those done by the quack Jordan.
Too bad you didn't read this board and RB before investing. The truth has always been known.
In case you haven't seen it, here's a great link. It shows some things you may not be aware of, Namely that NMC sent only a total of $25,000 to Az for "royalty" payments, but claimed, in one of their financial statements, to have sent some $43k and change. (you'll have to look to pinksheets.com for that report.) As well, one can imply that they sent the $ to Az in an attempt to make the public think that they'd actually sold some product. But the state refused to accept the $ as royalty, instead putting it in a suspense account, waiting for NMC to verify mineral content--which, of course, they couldn't do.
http://jimewescamp.250x.com/index7.html
More of my old DD can be found here, though some links are dead
http://investorshub.advfn.com/boards/read_msg.asp?message_id=6159894
atlanta, didn't you read his first post? He's still a shareholder.
My post about BX having lost value was irrelevant to their legitmacy. Sorry....... Which they obviously are. They were just hired by MSFT to help broker a deal with YHOO, if I read correctly.
However, very likely alba and samples are right in their ideas.
The Facts, I asssume you're referring to Shepp.
Abut the video. It was originally done in 2003. The only difference with the second version is that Shepp narrates it. It is even sleazier than the first.
Interesting that this disclaimer has been added to NMCX news:
"This news release is for information purposes only and is neither a solicitation to sell securities nor an offer to buy securities, which solicitation or offer may be made only via prospectus. The registration of the Company under the Securities Exchange Act was revoked in March of 2003. Until the Company has effected a new registration with the SEC, Section 12 under which the Company registration was revoked states: "No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence."
NMCX isn't even registered with the SEC?? Perhaps this is true with grey sheet companies? No wonder the SEC has never shut down this re-incarnation of the revoked HCCA.
Correction, it was Dec 2006 when the share count debacle became public knowledge....
Enjoying your story. Most of the info has been obvious to us outsiders. Illegal shares, Sheppard culpable as he's at the helm, etc etc.
Another reason there'll never be an audit. It would have to show the true value of the SV dirt.....
Great that you're putting all this on a public forum. I hope the PP lemmings are reading....
Here's the news:
NEWS!
NMC, Inc. Provides Update
HENDERSON, Nev.--(BUSINESS WIRE)--
NMC, Inc. (Pink Sheets:NMCX):
Over-issuance of Common Stock
NMC, Inc. (Pink Sheets:NMCX) announced today that during the audit of the company's financial statements for the years ended December 31, 2004 and 2005, by the Public Companies Accounting Oversight Board (PCAOB)-registered accounting firm, the Company discovered that the number of shares issued by its in-house transfer agent exceeded the company's authorized shares of common stock. This over-issuance was disclosed in the Company's financial statements. Subsequent to the completion of the audit, the Company discovered a more recent over-issuance by its in-house transfer agent. These over-issuances totaled approximately 1.7 billion shares. Additionally, at the time the Company's prior board of directors created the Class A Preferred Shares in July of 2004, there were not, nor are there currently, a sufficient number of authorized shares of common stock to accommodate conversion of the approximately 400 million outstanding shares of Class A Preferred Stock (each of which converts into 5 shares of common stock), now held in a revocable trust by family members of a former officer, director and current shareholder of the Company.
Prior to the discovery of the greater imbalance between authorized shares and issued and convertible shares, the Company had prepared a letter to all shareholders, then intending to make its audited financial statements for 2004 and 2005 available. However, the aforementioned imbalance may require restatement of the Company's financial statements for the years ended December 31, 2004 and 2005.
Management is conducting an internal investigation of the facts surrounding the over-issuance and related matters. Once the board of directors has evaluated the circumstances and impacts of these issues, it will recommend corrective action. In the meantime, the board is exploring possible alternatives specific to the over-issuance, including without limitation, increasing the number of authorized shares and/or a reverse split, any of which would require a majority vote of the shareholders. Pending final resolution of these issues and subject to limitations under Nevada law, the Company expects to treat outstanding shares held by non-affiliates of the Company as having been validly issued.
The Company expects to make audited financial statements available after the resolution of these matters and completion of its audits, including an audit of 2006, by means of the filing of a Form 10 with the Securities and Exchange Commission (SEC).
Having accepted the resignation of its in-house transfer agent as a result of the aforementioned events and other problems, the Company has engaged the services of an external, independent transfer agent. The new transfer agent is expected to begin transfer duties for the Company in January 2007.
Without giving effect to the over-issuance and related issues that may have an effect, NMC, Inc. had an accumulated deficit of approximately $65.4 million at December 31, 2005, principally attributable to the writing off of acquired assets and operating expenses.
During the audit, three independent geologists and two assayers conducted four geological reviews and full custodial assays on all its properties, although only the Skull Valley property was verified for the purpose of the audit.
Buyer Payment
On December 23, the Company received a payment in the amount of $350,000 pursuant to an agreement for the sale of first-stage precious metals ore concentrates for a total purchase price of $500 million to a privately held entity. Per the agreement, additional installments on the down payment of $11 million are payable over the next 23-month period. After the $11 million down payment has been paid, the customer may begin taking prorated possession of the first-stage concentrated ore, and the remaining $489 million balance of the contract is to be paid over 8 years. There can be no assurances that this contract will be fulfilled in its entirety, and there is no prepayment penalty or limitation on assignability.
Civil Litigation
In March 2003, the SEC filed a civil action against two former officers and original members of the Board of Directors. This action continues, with a court hearing scheduled for March 19, 2007. These former officers and original members of the board of directors have resigned, and the Company is not a party to the litigation but has incurred and may continue to incur some expenses attributable to the litigation.
Form 10 Registration Statement
At the present time, management anticipates that a Form 10 Registration Statement--which is expected to contain audited financial information for the most recent three years ended December 31, 2006--will be submitted to the SEC no earlier than the second quarter of 2007.
Communication with Shareholders
In the interim period and prior to the effectiveness of a Registration Statement, the Company has been advised by its legal counsel to limit its news releases significantly; however, the Company anticipates that it will continue to keep the market informed of critical developments.
About NMC
NMC, Inc. has interests in mining and ore processing. In addition to its Skull Valley claims, the company owns 7 mining claims of 20 acres each in Mesquite, Nev. and 17 mining claims on 340 acres in San Bernardino County, Calif., in all of which it owns 100% of the mineral rights.
This news release is for information purposes only and is neither a solicitation to sell securities nor an offer to buy securities, which solicitation or offer may be made only via prospectus. The registration of the Company under the Securities Exchange Act was revoked in March of 2003. Until the Company has effected a new registration with the SEC, Section 12 under which the Company registration was revoked states: "No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence."
NOTE CONCERNING FORWARD-LOOKING STATEMENTS-PLEASE READ
Statements contained in this release that are not purely historical are intended to be forward-looking statements within the meaning of the Safe Harbor clause of the Private Securities Litigation Reform Act of 1995. These statements are based on information available to the Company as of the date of this news release, and the Company assumes no obligation to update or revise these forward-looking statements. Forward-looking statements are inherently uncertain, and the Company's actual results may differ from management's expectations. Risks and uncertainties associated with forward-looking statements include without limitation, risks associated with the Company's ability to complete an audit and obtain registration of its stock with the SEC in light of the allegations against its prior management; the ability of any customer, including the customer whose payment is reported in this news release, to complete its obligations under any agreements with the company; U.S. and foreign currency fluctuations; changes in environmental and mining regulations; delays in obtaining regulatory approvals; costs associated with processing ore concentrates; fluctuation in precious metals markets; general economic and business conditions; litigation and other factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Financial estimates, whenever provided, either by the Company or by third parties, are subject to change and are not intended to be relied upon as predictions of future operating results. NMC, Inc. assumes no obligation to update or disclose revisions to such estimates.
Source: NMC, Inc.
Exactly!!
I've emailed BX IR twice.......nary a peep from them. Undoubtedly, as they are a large multi officed company, IR knows nothing of the NMCX pr.....and to find anyone there with any info would be hard.
IR has a 1 800 number. Someone oughta call.
Then it was your friend with whom I traded pm's...He was the one that never bought in.
Your portrayal of Shepp leaves out all the bad stuff associated with the affinity swindle he ran.....Care to see links to all the bad news?
And, none of his bio, as presented by NMC back in 2004, is verifiable using simple internet searches.
As soon as I watched that video which he narrated (the second version) I had him pegged as a mealy mouthed palm greaser who would say anything to sell his product....and one who knew nothing of mining.
Since I know a bit about mining, I knew this was a scam within hours of my DD start, back in Feb 2005. (I'd forgotten about HCCA, but knew of it back in 99-2000....)
Hi, were you the fella with whom I traded some pm's with about two months ago? I forget what login I used...I never made any public posts but after two pm's to bullmeover (I think he was the one) that asked some tough questions, I was booted. Obviously, he tattled on me.......
If you are the same guy, you're the one who was accused of having two personnas posting from the same IP.
That board's closed minded attitude toward tough questions is a joke.
One would think that reality would set in for them...the reality that this latest news is pretty much meaningless. The real picture was shown in their disclosure doc where they did come pretty clean.
As a shareholder, you oughta call Magee...(I have his number) and ask him why the heck he got involved...He, as all the board and Shepp, are obviously clueless about real mining.
IMO, they were never anything but a shell....they did put out a lot of news that was almost certainly bogus.
Um, don'tcha mean he's down 40% or so, that's if he actually exercised any options back when the stock was higher....?
But Tim, if the company never realizes revenue, or reaches .006 and higher, based on that info, Shepp won't get much....
They might play around a little with it. But their main role is just to match up retail orders, since there's no official bid/ask.
Main reason the stock doesn't move much are:
Relative to the o/s, the volume is low.
As is shown by the large number of PP believers, many are reluctant to sell. Some of the selling is likely more dilution, as the company still has shares to sell.
And, since many still think the co will be sold, they'll still buy.
I'm convinced that some of the volume over the years has been from the company or insiders churning, to give the appearance of higher volume, to mask the share dilution.
This could be why the stock hasn't crashed as badly as some penny stocks do.
Wow, look where this shell has gone:
Posted by: antisubmarinewarfare
In reply to: None Date:1/19/2008 1:56:58 PM
Post #of 1753
In my Scottrade account I purchased my ANYT during the time that this was TWOG. Each share of ANYT shows in my Gainskeeper as having cost me $363,300 each. My Ameritrade account bought ANYT during the time that this was SBMI at $8.70 so... Yeah...I can see that there may be some digruntled shareholders here. Great Shell. Hope you got a real deal on it. ~ASW~
*****************
He missed CEVU. After the failed ILGY stock swap, TWOG became CEVU, then SBMI....each time a big r/s.....
And your point is? So a measly $8000 or so was bought. Still .0035 on the low end. First day in a while that a fair bit more was bought than sold. Meaningless, pretty much.
bingo....and thus my tongue-in-cheek offer for the certs....