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WHY DO YOU THINK I AM HERE TO DO YOUR DUE DILIGENCE?
LIKE I STATED, ONLY EARLIER THIS WEEK,YOU ASKED WHEN WILL THE FINAL ASSAY RESULTS BE RELEASED - THEY WERE RELEASED A MONTH AGO.
I AM PERFECTLY WILLING TO WAIT FOR THE TECHNICAL REPORT TO BE RELEASED.
AND WILL BE BUYING ALSO AT THESE PRICES ....
"those fraudulant statements"
do you have proof they are fraudulant statements?
SINCE YOU DIDN'T HEAR THE RADIO BROADCAST, HOW DO YOU KNOW THESE STATEMENTS WERE FRAUDULANT - SINCE YOU DON'T EVEN KNOW WHAT THEY SAID?????
only the other day, you asked when will the final assay results be out?
they've been out for a month !!!
LIKE I SAID, WHY NOT WAIT UNTIL THE TECHNICAL REPORT IS OUT, AND SEE EXACTLY WHAT IS THERE?
why not wait for the report, and see exactly how much gold, copper, and silver there is (at least on the 113 acres involved)
why do i constantly have to repeat myself?
in a radio interview several years back, management estimated $3-5 BILLION based on the previous drilling campaigns extrapolated for a 625 acre section. there are 37,000+ acres.
they believe there were tens of billions...
they also felt that where drilling was done was not the most promising sites, but were more accessible, since there are very few roads in the area, and most of the property is on very hilly terrain ... and would be more costly to drill ...
HAS IT BEEN PROVEN YET ... WE ALL NO IT HASN'T ...
the technical report coming out soon will start the process of proving it ...
HAVEN'T A CLUE WHAT THE PHILOSOPHY WAS IN 2008 AND 2010 ... ONLY BEEN IN STOCK SINCE 2011 ...
DO YOU KNOW WHAT THE PHILOSOPHY WAS BACK THEN ? OR JUST GUESSING ?
THEY DO HAVE TENS OF BILLIONS !!!
don't you think we should wait to see how much gold they have (in the technical report due out shortly) ... and how much it's worth in a jv deal and/or a buy out before we call it "over"
just bought 37,500 @ .054
more irrelevant bs
it was grams X meters ... already had this conversation ... a typo error ... OLD NEWS !!!
let me get this straight ... current management is using correct terminology ... and now you are claiming BECAUSE THEY ARE USING CORRECT TERMINOLOGY they are illegitimate because they are reading message boards ... EXTREMELY PATHETIC !!!
THREAD FROM GRAMS X METERS CONVERSATION:
usprinvestor Member Level Wednesday, 09/02/15 04:53:48 PM
Re: None
Post #
15738 of 16088 Go
spoke to my geologist friend ... showed him the pr .... etc. ... his reply:
obviously, grams/meter is a typo !!! should have been grams X meters !!!
and he stated that g X m above 25 should get some attention (assuming gm/ton is above a certain base number - depends on cost of mining).
yes, could have .2 g/ton X 500 meters = 100 - but any geologist would look at g/ton first ---- the table g X m is simply doing a simple math calculation - anyone can do it.
g/m would indicate division - not multiplication
once again, distractions and bs !!!
there is only one thing that matters with uspr's future: THE BUY OUT PRICE!
so since the current management took over, they have set one goal: DRILL PROVE AND SELL.
and they have followed this plan
current drilling campaign is complete. technical report is expected within a month or two. this should PROVE there is gold silver and copper on the property ... and then we'll see what happens next .... imo, a jv deal and further drilling and further proving .... but once resources are made public, we'll see if pps reacts favorably or not ...
you keep leaving out some of the facts....
the mesa deal is irrelevant - SINCE THE COMPANY DECIDED NOT TO BECOME A MINING COMPANY - AND INSTEAD, DECIDED TO PROVE RESOURCES AND SELL - the mesa deal involved mining the property
i never thought pane was a good ceo ... he was a major improvement over the previous management
i never was in favor of plasma ... ALWAYS BELIEVED THERE WAS MUCH MORE MONEY IN GOLD ON THE PROPERTY... and when it became apparent that plasma was bs, pane had to go ...
the ceo just saved uspr shareholders 300 million shares in dilution ...
and again, how do you know how much time he spends working for uspr?
25 hours a week ??? that would be part time ???
more unsubstantiated bs.
how do you know how much time the officers getting salaries spend working for uspr?
for example, the geologist (and director) for uspr spent months in mexico on site during the drilling campaign.
these are totally bs accusations without any facts behind them.
let's discuss spending on overhead vs. exploration using FACTS !!!
under the current bod, less than 10 million shares have been used for salaries, bonuses to the board (including $80,000 in salaries in the latest private placement)
let's remember that the current management reduced dilution by 300 million shares, by first renegotiating the plasma deal from 300 million to 125 million ... and then terminating the deal entirely ... 300 MILLION SHARES IN DILUTION TERMINATED.
under current management, the last 3 private placements (totaling under $2 million) were used to pay off:
1) the debt to the ex-lawyers (incurred several years ago). without paying off this debt, uspr was under risk of foreclosure.
2) paying for the drilling campaign (THIS IS DIRECT SPENDING ON EXPLORATION)
3) paying off previously incurred convertible debt to prevent further price erosion from irresponsible share dumping thru conversion
4) paying legal fees for lawsuit re: termination of the 300 million shares
5) paying for technical report (independent geologists) (imo, SPENDING ON EXPLORATION)
6) paying fees for company incorporation in delaware
7) paying fees to the mexican govt for leases (imo, SPENDING ON EXPLORATION)
8) paying fees to locals in mexico for use of land to access property (imo, SPENDING ON EXPLORATION)
9) successfully defending lawsuit in mexico - terminating deal - re: obtaining leases in 2003 (imo, SPENDING ON EXPLORATION)
10) accounting costs
btw, part of the salary payments involve paying uspr's geologist who was on site during drilling campaign (imo, SPENDING ON EXPLORATION)
like i said, just bs accusations !!!!
WHERE IS ALL THIS SPENDING ON OVERHEAD UNDER CURRENT MANAGEMENT ???
THERE ARE NO EMPLOYEES (BESIDES THE BOD).
THERE IS LIMITED RENT, OFFICE EXPENSES, ETC. (A VIRTUAL OFFICE).
AND I DON'T THINK PAYING SOME OF THE BOARD SALARIES IS UNHEARD OF, OR UNREASONABLE. AND MINIMAL BONUSES TO DIRECTORS, IN LIEU OF SALARY, IS ALSO NOT UNREASONABLE.
instead of bs accusations, why don't we discuss facts....
less than 10 million shares used for "overhead" saved shareholders 300 million in dilution. paying off debt prevented foreclosure. paying off convertibles prevented additional irresponsible dumping, and price erosion.
paying off debt .... minimal expenditures on overhead .... AND THE REST WERE ALL RELATED TO EXPENDITURES FOR EXPLORATION (directly or indirectly)
some FACTS about the company and the mexican mining property....
uspr of mexico acquired the property in 2003 (twelve years ago)
the company became public as uspr in 2006 (9 years ago)
the first drilling campaign by uspr was done in 2008 (7 years ago) - second drilling campaign and resultant technical report in 2010 (about five years ago)
current bod (minus pane et al.) occurred less than two years ago ... and the current head management (ie ceo) took over about a year ago ...
all ties to plasma, pane et al. (including mesa, etc.) have been severed earlier this year ....
the completion of the current drilling program (following the recommendations of the first technical report - and the independent geologists who wrote the report) occurred within the last month ....
a new technical report is expected within a month or two giving probable resources ....
the amount of gold, silver, and copper will then be public knowledge - at least for the 113 acres (.3% (or .003) of the property) ...
CONJECTURE (based on previous statements by company, and logical conclusions - if you don't like my conclusions, draw your own)
institutional financing and/or a jv deal based on the amoount of gold, silver, and copper will be entered into by uspr
with additional financing, more pieces of the property will be drilled ... resulting in additional technical reports ... additional amounts of gold, silver, and copper ... etc.
end game - sell property (all or part of - based on amounts of gold, silver, and copper)
one additional fact ... a local university in mexico was doing an environmental impact study on the property - mining it .... etc. (this was in a previous filing) this will make a feasibility study easier to do .... and hopefully future reports can give reserve numbers instead of probable resources ...
how pathetic ... this is an amended filing of an offering from AUGUST ... august 26th i believe ...
OLD NEWS !!!!!!!!!!!!!!
an additional amount was raised - GREAT NEWS - NOTHING CHANGED WITH RESPECT TO SALARIES BEING PAID
AND ONCE AGAIN, THE BOTTOMLINE GETS IGNORED !!!
THIS COMPANY WILL BE VALUED BY HOW MUCH GOLD, SILVER, AND COPPER IT HAS ON ITS PROPERTY - NOT BASED ON BS FROM A MB ...
so no matter what gets posted here, the inevitable pps of uspr will be determined by the buyout price - which is dependent on how much gold, silver and copper is on the property ...
and we should have some idea of how much gold, silver, and copper there is on 113 acres (LESS THAN .3%) of the property when the technical report is released
great due diligence ..... NOT !!!!!!!
THIS IS THE SAME FILING FROM AUGUST !!!
OLD NEWS !!!
SAYS "AMENDED"
you posted that directors of uspr post on this mb.
do you have proof of this?
would you mind telling us which directors are posting here, and what alias they are using?
he also posted sec filings on aivn mb ... another company he owns
AND THE PICTURE ON HIS PROFILE IS A PICTURE OF JACK WAGENTI
and he has been called jack wagenti dozens of times, and never denies it
WHAT IS EX-CEO JACK WAGENTI'S (JWAGE) MOTIVATION?
WHY WOULD HE BE BASHING HIS OWN INVESTMENT? DOES HE OWN SHARES ANY MORE?
DID PANE PROMISE HIM SHARES? CURRENT MANAGEMENT WON'T HAVE ANYTHING TO DO WITH HIM !!!
HE STATED THAT THE AMOUNT OF GOLD USPR HOLDS IS HUGE ("LAST BIG GOLD FIND") - AND THEN HE MAKES UP BS ABOUT HOW A FRIVOLOUS LAWSUIT IS GOING TO DESTROY THE COMPANY?
BS ABOUT HOW USPR CANNOT COUNTER SUE IN FLORIDA - WHEN IN FACT THE ORIGINAL LAWSUIT OCCURRED IN FLORIDA .... BTW, I BELIEVE IT IS NOW IN FEDERAL COURT
BS ABOUT HOW USPR CANNOT SUE BECAUSE THEY AREN'T ACTIVE - WHEN IN FACT THEY ARE ACTIVE ....
BS ABOUT USPR OWING DELAWARE $130,000+ IN TAXES, WHEN THEY HAVE NO EARNINGS OR REVENUES (YET) .... AND THE LATEST UPDATE FROM DELAWARE SHOWS THEY OWE NOTHING !!!!
I CAN ONLY COME UP WITH THREE MOTIVATIONS FOR BASHING HIS OWN INVESTMENT:
1) HE IS GETTING OLD AND SENILE
2) HE IS WORKING WITH PANE ET. AL.
3) HE IS TRYING TO BUY SHARES CHEAPER
THIS ALL MISSES THE REAL POINT ....
USPR IS DONE WITH ITS CURRENT DRILLING PROGRAM.
WE ARE WAITING FOR FINAL ASSAY RESULTS.
THEN WE WILL BE WAITING FOR A TECHNICAL REPORT ENUMERATING PROBABLE RESOURCES.
THEN WE WILL SEE WHAT KIND OF JV DEAL USPR CAN COME UP WITH
THE FRIVOLOUS LAWSUIT BS IS AN ATTEMPT TO DISTRACT US FROM WHAT IS REALLY HAPPENING
CORPORATION STATUS IS ACTIVE AND IN GOOD STANDING AS OF 10/05/15
AM I THE ONLY ONE WHO CAN'T UNDERSTAND HOW USPR'S TAX BILL WAS $130,000+ WHEN THEY HAVE NEVER MADE A PROFIT ??? NO REVENUES ???
SEEMS ONLY REASON STATUS WAS INACTIVE WAS BECAUSE THE REGISTERED AGENT RESIGNED WITHOUT USPR KNOWING IT .... CONSPIRACY THEORY - PANE AND WAGENTI HAD SOMETHING TO DO WITH THIS
SO NO MORE BS ABOUT USPR NOT BEING ABLE TO FIGHT LAWSUIT ...
File Number: 2849176 Incorporation Date / Formation Date: 1/21/1998
(mm/dd/yyyy)
Entity Name: U.S. PRECIOUS METALS, INC.
Entity Kind: Corporation Entity Type: General
Residency: Domestic State: DELAWARE
Status: Good Standing Status Date: 10/5/2015
TAX INFORMATION
Last Annual Report Filed: 2014 Tax Due: $ 0
Annual Tax Assessment: Total Authorized Shares: 335000000
REGISTERED AGENT INFORMATION
Name: AMERICAN INCORPORATORS LTD.
Address: 1013 CENTRE ROAD
City: WILMINGTON County:
State: DE Postal Code: 19805
Phone: 302-421-5752
FILING HISTORY (Last 5 Filings)
Seq Description No. of pages Filing Date
(mm/dd/yyyy) Filing Time Effective Date
(mm/dd/yyyy)
1 Renewal for Forfeiture/No Agent
1 1 10/5/2015 2:12 PM 10/5/2015
2 Agent Resignation w/o Apt
9019982 1 8/22/2014 12:52 PM 8/22/2014
3 Amendment Stock 2 4/16/2014 3:04 PM 4/16/2014
4 Stock Designation 4 1/31/2014 10:26 AM 1/31/2014
5 Amendment Stock 1 3/24/2011 12:00 PM 3/24/2011
let's go back to the facts and what we do know ...
rth et al. is in serious breach of contract ... a) no $5,000,000 payment to uspr b) no plant built at 29 palms, ca. c) fraudulant documents stating rth had the funds to build the plant (when they did not)
uspr unilaterally terminated agreement due to the breach of contract and fraudulant activities
rth et al. sued uspr for shares despite being in breach of contract
AND NOW WE GET TO THE CURRENT SITUATION ....
uspr answered lawsuit agressively and filed a countersuit alleging fraudulant activities occurred involving rth et al. including individuals as well as rth ... as i understand it including pane, altieri, spano, and others ... and are countersuing these individuals as well as the corporate entities
AT NO POINT DOES RTH ET AL. DENY THE BREACH OF CONTRACT.
let's remember .... anyone can sue anyone for anything ... doesn't mean it will ever get to trial
imo, this ends with a summary judgment against the plaintiffs ... and uspr may not waste time going proceeding with the countersuit ...
so far away from the point ... anybody have a clue what the point is anymore
apples and oranges
in your example, there was a big guy
in uspr's case, plaintiffs have no money ... if they did, they would have paid the $5,000,000 they owed uspr .... they would have built the plant they fraudulantly claimed they had funds for ....
in this case, there is a good chance the suit will be thrown out due to fraud on the plaintiff's part ....
just makes you wonder about the timing of jwage's (jack wagenti's) post ....
and maybe my theory that jack was trying to scare people into selling, so he could buy cheaper, is making a lot more sense ....
uspr certainly does not think they will lose this lawsuit ... and actually are attacking very agressively with their countersuit
ANSWER TO LAWSUIT
Answer, Affirmative Defenses, Counterclaims and Third Party Claims
Answer and Affirmative Defenses
In our Answer, we denied Plaintiffs claims for Specific Performance, Declaratory Relief and Conversion. In addition, we asserted numerous affirmative defenses, including among others that RTC obtained the Company’s consent through fraud, deceit or misrepresentation and RTC failed to satisfy certain conditions under the Restructuring Agreement.
Counterclaims and Third Party Complaint
In our responsive pleadings, we asserted numerous counterclaims against RTC and by way of a Third Party Complaint, we asserted third party claims against Gennaro (Jerry) Pane (“Pane”), Chad Altieri (“Altieri”), Barrington (Barry) Schneer and Joseph Spano (“Individual Defendants”) and PTH.
The Company’s counterclaims against RTC include, among others, breach of contract, fraudulent inducement to enter into the Share Exchange Agreement and the Restructuring Agreement based in part on the misrepresentations of Pane and Altieri, rescission of the Restructuring Agreement based on the misrepresentations of Pane and Altieri and the failure of consideration, and RTC’s unjust enrichment. The Company’s third party claims include, among others, fraud against all of the third party defendants, the breach of fiduciary duty and negligent misrepresentation against Pane and Altieri. In addition, we have alleged the third party defendants conspired to defraud the Company to issue the Preferred Stock.
Key allegations in our Counterclaims and Third Party Claims include the following:
· RTC/PTH and the Individual Defendants misrepresented that they had the necessary permits to legally operate their plasma facility in the City of Twentynine Palms, California; when in fact RTC/PTH could not legally operate the plasma facility because they did not have, among other things, the necessary Conditional Use Permit and Certificate of Occupancy required by the City of Twentynine Palms.
· RTC and PTH, through the Individual Defendants, provided financial statements and information to the Company that we allege were false and materially misleading.
· RTC /PTH and the Individual Defendants misrepresented their technical expertise and ability to operate a plasma facility.
· RTC/PTH and the Individual Defendants since October 2013 continually misrepresented that PTH had received the necessary funding, or that funding was imminent, to improve its plasma facility in Twentynine Palms. In reality, in October 2014, PTH had received only a fraction of the necessary funding.
The Company has demanded a judgment against RTC and the third party defendants for compensatory damages, punitive damages, interest, taxable costs, attorneys’ fees and any such other and further relief as the Court deems just and proper.
why would jack wagenti post "will the lawsuit end our company?"
JWAGE = JACK WAGENTI = EX-CEO OF USPR
been a lot of volume lately ... maybe jack wagenti is selling ??? hope so!!! ....
but knowing jack, he is probably just looking to buy cheaper !!! anyone who knows him, knows he'll tell you to buy when he is selling, and visa versa .... just ask him if he was selling when the stock was .48, and telling everyone else to buy ....
so this latest post from jack looks like he's trying to scare people, so he can buy cheaper ....
BUT WHAT FACTS SUPPORT THAT THE LAWSUIT WILL END THE COMPANY? THERE ARE ZERO FACTS TO SUPPORT THIS CONCLUSION.
are we changing topics now ...
let's see if the stock reacts to the release of the next report with values for gold, silver, and copper ....
let's see if the stock reacts to a jv deal based on these values ....
let's see if the stock inevitably reacts to the inevitable buyout based on the amount of gold, silver, and copper on the property
optionsexpert ... let me reiterate my response to your earlier post:
excuse me. would you mind posting the timetable uspr has mismanaged now?
i believe the clock starts when all the assay results are reported.
i don't believe they gave a timetable on when all the assay results would be in.
i recommend you double check the pr's .....
btw, considering it has taken years and years to get to this point - proving resources - waiting another few days doesn't seem to be so long to wait for the rest of the assay results .... and then the clock starts ...
they already stated they plan on posting a report with numbers on resources.... that puts a value on amounts of gold, silver and copper
plus they did exactly what the previous report recommended ... drilled holes to prove continuity .... and they announced that the results of this drilling campaign appears to have proved continuity
excuse me. would you mind posting the timetable uspr has mismanaged now?
i believe the clock starts when all the assay results are reported.
i don't believe they gave a timetable on when all the assay results would be in.
i recommend you double check the pr's .....
btw, considering it has taken years and years to get to this point - proving resources - waiting another few days doesn't seem to be so long to wait for the rest of the assay results .... and then the clock starts ...
they may do some mining to raise revenues ... have no idea if this would prove g/ton
the pps WILL be determined by assay results ...
which in turn will determine probable resources in a technical report ...
which in turn will lead to a jv deal ...
which in turn will lead to an eventual buyout
DRILL PROVE AND SELL
drilling is over - just waiting for the results
then prove is inevitable - then just waiting for a jv deal
how did you come to this conclusion?
almost half a million dollars was raised last month thru a private placement .... looks like someone is willing to invest money ....
mb banter won't determine the failure or success of this company ....
the amount of gold, silver, and copper resources will ....
and the remaining assay results should be out shortly ....
and then a new technical report outlining the amount of probable resources should follow shortly after ....
then we'll see how much uspr is really worth .... and if money invested recently was dead money, or a wise invesment
that's for only $80,000 of the $490,000+ raised - and for next four months
ridiculous scare tactics !!! again !!! not only with lack of evidence, but defies common sense....
if it is a private placement or convertible, usually 6 - 12 mos before they would be eligible for sale .... SO HOW DOES THAT CAUSE A PRICE DROP NOW ???
now what if these proceeds were used to erase convertibles coming due ? if anything, that would prevent further price drop NOW ....
my "what if" is certainly more likely, than the shares involved could be sold now ....
completed assay results
completed technical report with probable resource numbers
jv deal
perfect .... pre-market trade --- 250,000 @ .065 --- below the bid ....
and then it opens bid .07
another bs trade
btw, g X m number does help one focus on which results are most likely better
i challenge anyone to show one post where i defended the g/m number ...
i clearly stated that the g/ton number is consistent thruout all the assay readings and is the important number ... and if you don't like the new measurement, ignore it ....
why would i defend or even care about a posted number that anyone with a calculator can come up with...
g/ton (gold) X width (in meters) = g/m {TYPO} - should read g X m