Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
specul8r- great summary and I agree with you.
A little patience here should pay off big time.
I expect to be holding about 50 percent of my stock
for several years.
Should have many chances to add stock on these dips too.
GLTY and all longs.
Rocky
Looks like in this case it will
help you avoid making money.
"Shares Outstanding 195,098,820 a/o Mar 21, 2011"
http://www.otcmarkets.com/stock/MXMI/company-info
It's great to have a good position in these shares.
If the naysayers knock it down, you can buy more
on the cheap. If people get exuberant and push it up
you get richer. Everyone should have some MXMI IMO.
Long term returns should be fantastic.
Good luck to all longs.
Rocky
Likely being held down so someone can load up.
Might as well take advantage of that and
load up too.
GLTY
Rocky
don estaban - Not really Don but I'm
putting money on an increase in share price.
When? I do not know but will wait it out.
Rocky
Hi wickw50. Just got back.
It is this Kirkland Lake
(known for it's gold mines):
http://en.wikipedia.org/wiki/Kirkland_Lake
Not a lot Don. Picking up
a few shares from time to time though.
I believe we will see higher prices
but not chasing it.
Don't really like big spreads either.
By the way you just caught me in time.
Shutting down my computer right now and
heading North for the Kirkland Lake area.
Be back Monday.
GLTY and all.
Rocky
Better to ask him rather than us:
Contacts:Advanced ID Corporation
Dan Finch1-214-755-0932
finchaido@gmail.com
This stock is not dead yet.
GLTY
Rocky
Yep. eom
It's scarcely a trot yet. LOL
Wait until you see it really run!
We probably have to wait until MXMI runs.
GLTY
Rocky
If you want it you have to put it in at
.0089 (NITE's offer) right now.
AUTO will usually only give 5000.
Auto is actually there to buy.
GLTY
Rocky
SEC charges Albertan for fraudulent financials
Ticker Symbol: C:*SEC U:*SEC U:PWDR
SEC charges Albertan for fraudulent financials
U.S. Securities and Exchange Commission (C:*SEC)
Wednesday April 13 2011 - Street Wire
Also U.S. Securities and Exchange Commission (U:*SEC) Street Wire
Also Powder River Petroleum Inc (U:PWDR) Street Wire
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil charges against Alberta resident Brian Fox for fraudulently inflating the revenue and assets of Powder River Petroleum Inc., a Calgary-based OTC Bulletin Board listing. According to the SEC, Mr. Fox falsely reported millions of dollars in loan proceeds as revenue and counted properties that the company did not own among its assets.
The SEC's complaint, filed on April 8, 2011, in the Northern District of Oklahoma, identifies Mr. Fox as the president of Powder River from 2003 through 2008. During that time, he provided false information to auditors and bookkeepers that led to the company filing fraudulent financial statements, the SEC claims. Powder River, which had a 54-cent high in 2005, is now in bankruptcy proceedings and trades for 0.1 of a penny. (All figures are in U.S. dollars.)
The scheme, as described by the SEC, began in 2004 when Powder River was selling minuscule percentages of its U.S. oil and gas leases to Asian investors. The transactions were essentially loans, with the company repaying the investors 9 per cent of their original investment every year. The problem, as the SEC sees it, is that Mr. Fox caused the company to recognize $33.5-million of the money it received from the investors as sales, which artificially inflated Powder River's revenue by as much as 2,417 per cent. During the four years that this accounting practice continued, Mr. Fox told the company's auditor that the money was "prepaid production payments."
The complaint also cites Mr. Fox for causing the company to report assets that it did not have. According to the SEC, he represented to shareholders, both through the company's financials and at shareholder meetings, that Powder River owned two oil and gas leases in New Mexico and Texas worth a combined $11.5-million.
In reality, the company did not own either lease, the SEC says. Powder River had negotiated a deal in 2005 for the New Mexico property, and it paid a non-refundable $500,000 deposit. Within months it defaulted on that agreement, and forfeited its rights to the lease and to its down payment, the SEC claims. Despite that, Powder River continued to report the New Mexico lease as an asset for nearly three years, until the first quarter of 2008.
The Texas agreement, as described by the SEC, was similar. In 2006 and early 2007 Powder River made a $1.5-million non-refundable deposit to acquire a lease for $6.5-million. The company then reported the lease, along with an associated $5-million note payable, on its balance sheet through to 2008, even though it never consummated the deal. Powder River ultimately forfeited the $1.5-million down payment on that lease as well, the SEC says.
The complaint also cites Mr. Fox for causing Powder River to overstate its proved reserves. In its year-end results from 2004 through to 2007, the company claimed that it owned proved reserves worth between $3.7-million and $382-million. The problem, according to the SEC, is that the claim included reserves from properties that the company did not own. The reserves also included a questionable estimate prepared by a Texas engineer who was a convicted felon and securities fraud recidivist, the SEC says.
The result of Mr. Fox's overstatements was that the company reported revenue of $13.4-million in 2007, an overstatement of $10-million, the SEC claims. Its assets, which it reported at $27.8-million in 2007, were actually $19.2-million, according to the complaint.
During the scheme, Mr. Fox paid himself a salary that the SEC describes as "large" plus a $320,000 bonus that was linked to the company's fraudulently inflated revenue.
The SEC is seeking an appropriate civil penalty, a permanent officer and director ban, and disgorgement Mr. Fox's bonus.
ASC in the matter of Fox
The SEC suit is not the first regulatory action Mr. Fox has faced. In 2000, the Alberta Securities Commission cited him and two others for improperly raising money for a private entity called Renco Energy Corp. The ASC said they raised $481,500 from investors in B.C. and Alberta without filing a prospectus or being registered. The ASC banned him from serving as an officer or director for 18 months and ordered him to pay the $6,000 (Canadian) cost of the hearing.
© 2011 Canjex Publishing Ltd.
Me too. eom
Right - always someone taking profits. eom
I take it that you never followed the link.
It was there more for your entertainment than info.
I believe this stock will do well over the long run.
Just have to be patient.
GLTY
Just remember that right now we are in a "dip"
on this stock.
http://www.youtube.com/user/lucasekstrom
That would be great Don! eom
Still time to buy before close and
you won't be missing this opportunity.
GLTY.
Rocky
In the past when the restriction was over
I have just sent in a form I signed stating
I was not an associate of the company and
perhaps another thing or two.
There was no fee to pay.
Looks like they got out way too early.
The Company must have some plans if they went to the
trouble to get reinstated. Best to stick around
for awhile and see what happens.
mm107 - Agree it is a problem. Brokers are getting
so that they just want to pick up their commissions
without doing a lot of work.
Some companies help investors out by taking back
restricted shares and exchanging them for
free trading shares (they eat the cost and work with their transfer agent)
but I don't see either MXMI or GDSM doing that.
Since I got mine for free when I bought some GDSM shares
I'm not wasting time with it. When they are free trading
I'll take care of it then (and hopefully they will be worth
worth more - perhaps much more.)
GLTY
Note the exitment over on the GDSM board
(GDSM rinstated).
My guess is that GDSM will want to hang on to
their MXMI shares for some time to come.
mm107 - not really. If you had say 100,000 shares
even at .035 you would have $3500.
A $200 fee would still leave you $3200 - commissions.
(However I'm not selling mine till much later.)
GLTY
teddy08 - They are not worthless. Right now they are worth the
share price minus the fee. Around next September you won't
need to pay the fee - just fill out a form.
mm107 - Just hang on to them.
Whoever told you they are worthless
is full of it.
'"GDSM" owns 14 MILLION shares of MXMI! And GDSM shareholders own combined distributed in "DIVIDENED" in SEPT., 2009, another 14 MILLION shares! That is a total of 28miilion'
Most not likely to enter the market right now.
No point in selling now anyway.
Not for a cent or so.
Not worth it.
The opportunity is to bet on success IMO.
The opportunity improves as the share price increases,
(and probably vise vera).
If we can get back over 5 cents
things would start to look great
but then you all know that!
GLTA
Rocky
A few orders for the the system
would do wonders for this stock.
"Hope rises again..."
Seriously it is a great intro.
Just the info one needs
to really know the value of this stock
and it's incredible prospects.
GLTA.
Rocky
Why do you say they are worthless?
Give him the money and get them released
if you want to sell them right now.
They are worth about a cent each right now and going up.
Next week they should be worth more.
(Similarly the ones that GDSM holds are
not worthless.)
Thanks for the reply.
Assuming they owe money for a joint venture
they must also have an interest in the joint venture
so any company that merged with GDSM would also inherit
that asset. I don't see that as a problem that cannot be easily settled.
It could be a net benefit. Now is the time for this company to be
picked up before gold gets too much higher.
I'll just sit on my shares until it happens
(perhaps even add a little now and again).
GLTY
Rocky
Why not just let us know what Mr Chaffee
had to say?
Obviously not used as a company website
but follow the links.
Someone could be paying it.
It could be generating revenue while
the company waits to use it again.
Actually it looks like the website is generating some revenue:
http://www.goldcoastminingcorp.com/index.html
Thanks Irwin - appreciate the info.
Rocky
We used to own part of it.
I believe we sold our share to the Asian owner
some time ago (I'd check that out with Dan to be sure).
I believe we still have a working relationship with them.
Note that there is a link on our website:
http://www.advancedidcorp.com/index.html
A Happy and prosperous New Year to all.
Rocky
Test only