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I do not post much but I find it necessary to comment on your post and this board. I find that this board is outstanding and your post equal to the standards this board adheres to. It is great to see posters like yourself giving sage advice to investors who are in or thinking about certain stocks without, repeat without slamming the poster and giving sound advice. Thank you for that and like I said thanks for the sport report.
its coming soon I bet by the action yesterday. It is primed
I think it is great that Sporty and the sport report crew are into INOH and are posting on the Sport Report board that this stock can fly like their previous picks. Lets all benefit from their research and support this baby.
return the hit to 2253
Lets look at the form 10 which is an extensive document laying out everything about the company where at this point you need to know nothing else from a company point of view. It also lays out an operational plan where it states what they plan to do over the "next 4 months" "six Months" etc with estimated costs in accomplishing those plans. That's where they come up with $500,000 needed. They go on to say there is no assurance that the company will get sufficient financing to complete their business plan (which is common for startup companies. Each time they issue a PR it cost the company $250 to get in on the wires and whatever you pay an IR firm(if you do not do it in house). The company stated that back in June that had issued 200000shares to a related party for $200, a great deal. That seems to be the only cash so issuing PRs for the sake of PRs is not in their best interest at this time. This seem to be the opinion of a lot of stsrtups except those that flood the market when they are going to dilute.
To understand what is happening take a close look at the form 10. It has a ton of info. The bet then becomes if they can carry it off. If they do this stock flies. In my humble opinin anyway
I agree absolutely and even after 40 years I still get fooled by the crooks that their business is in their garage or computer stand. This feels legitimate and with luck will succeed. Do not be surprised if one day they raise the float/outstanding shares to raise money. They have to get money from somewhere. Hopefully they issue restricted stocks or preferred shares
I have also been here for over 4 months and am down about 70% but I am not selling and I have to accept the fact that this company is trying to build a business. I seen more in the Form 10 than I have seen in any penny stock (which I have invested in for the past 40 years).
You may not agree with me and that is truly OK but I just wanted to offer my opinion. I think we basically agree on some things like no news forthcoming, price is not going to soar tomorrow or next week until they get something solid to report.
The surprises we may get is that they get a good deal on financing like originally reported and they get some good tennis pro sponsors or they start selling rackets and making money sooner rather later.
In my opinion, if the company continues with no PR's as they work their plan, we will neither fly up or down. This is still a great investment, with exceptional potential, low float, going as legit as it can get and eventually will not be a penny stock.
This does not sit well with penny stock traders because they want it now at a quick profit (which I would like too) but this is now an investment
you can try to understand, justify, accept, or reject all that has transpired with this stock and the bottom line is that Fred has no money, Private investor Brian Collins is only source of funding and his plan now to go down to 30 feet to get samples just adds more wait time and with him not wanting to issue regular PRs or to be close to selling the ore for cash, his only source will be dilution. If you look at the 6/30/14 financials a lot of shares have already been issued to pay for services and interest in properties yet we get no mention of how those properties are doing. It raises now too many questions about Fred and this companies ability to ever make money. Good luck to all who stick it out.
Fidelity will not allow you to buy shares since VTXB has been flagged as Caveat Emptor (buyer beware) see below. Hopefully this will be lifted with the form 10 now filed. I believe, but am not sure the flag was assigned due to change in name and reverse merger and lack of information.
VTXB Vortex Brands Co.
Common Stock Dark or Defunct OTC Pink No Information
OTC Markets Group Inc. (“OTC Markets”) has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) for one of the following reasons:
Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public. OTC Markets believes adequate current information must be publicly available during any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer's securities. At such instances, as a matter of policy, when adequate current information is not made available, OTC Markets will label the security as "Caveat Emptor." Promotional activities may include spam email, unsolicited faxes or news releases, whether they are published by the issuer or a third party.
Investigation of Fraud or Other Criminal Activities — There is an investigation of fraudulent or other criminal activity involving the company, its securities or insiders. When OTC Markets becomes aware of such investigation, the companies’ securities may be subject to Caveat Emptor.
Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
Undisclosed Corporate Actions — The security or issuer is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
Other Public Interest Concern — OTC Markets has determined that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read our Investor Protection page and OTC Markets Policy Regarding Caveat Emptor for more information.
They are not people they are MM's wanting cheap buys bringing down the bid/ask themselves. Nite drops ask then nite drops bid
There was a great post by sporty on his board, "thesportreport"
regarding VTXB as a great investment and how, due to the low float, this will run when news hit. I know it has been said a thousand times but it is best to be in at these levels to make the gain even more dramatic and the risk is minimal at this level.
I talked to Fred last week and he told me financials would be issues in the next day or two and good to his word they were, but nobody seems to have noticed so here they are with the $12,500,00 note payable ( it is not financing but a 25% interest in a note payable where CJTF also got part interest in other properties Also note that millions of shares were issued by CJTF to get this interest in the note and other properties as well as to pay for services rendered. Since most of this was done in prior years the impact on the stock happened in past years if the recipients sold their shares which is usual.
2
Table of Contents
Consolidated Balance Sheet ………………………….……………………… 3
Consolidated Statements of Operations ……………………………………. 4
Consolidated Statements of Stockholders’ Deficit …………………...….…. 5
Consolidated Statements of Cash Flows …………………………….……… 6
Notes to Consolidated Financial Statements ……………………….…….… 7
3
GOLD AND SILVER MINING OF NEVADA, INC AND
SUBSIDIARY
(An Exploration Stage Company)
Consolidated Balance Sheet
June 30, 2014
2014 2013
Assets
Current assets:
Cash and cash equivalents $ 527 $ 710
Total Current Assets 527 710
Property and equipment, net - 387
Note receivable (Note 6) 12,500,000 -
Total Assets $ 12,500,527 $ 1,097
Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable $ 46,362 $ 49,362
Current maturities of notes payable, net of unamortized discount 759,963 659074
Related party notes payable 337,000 337,000
Total current liabilities 1,143,325 1,045,436
Long-term notes payable, net of current maturities
Total Liabilities 1,143,325 1,045,436
Stockholders’ Surplus (Deficit):
Preferred stock - $0.001 par value; 50,000,000 authorized; no shares issued
Common stock - $0.001 par value; 2,000,000,000 authorized;
281,682,037 shares issued 329,682 240,932
Additional paid-in capital 14,617,044 1,766,076
Deficit accumulated during exploration stage (3,589,524) (3,053,347)
Total Stockholders Surplus (Deficit) 11,357,202 (1,044,339)
Total Liabilities and Stockholders’ Surplus (Deficit) $ 12,500,527 $ 1,097
See accompanying Notes to Consolidated Financial Statements.
4
GOLD AND SILVER MINING OF NEVADA, INC AND
SUBSIDIARY
(An Exploration Stage Company)
Consolidated Statement of Operations
Six months ended June 30, 2014
For the period
January 1, 2006
(Date of Inception)
Through
2014 2013 June 30, 2014
Costs and Expenses:
General and administrative $ 21,764 $ 49,305 $ 1,710,565
Contract labor - 500 43,088
Exploration costs:
Vehicle and travel 2,928 2,757 131,879
Mine property field expenses 47,892 59,486 440,879
Geology and engineering expenses - 2,562 362,151
Total Costs and Expenses 72,854 114,641 2,688,562
(Loss) from Operations (72,854) (114,610) (2,688,562)
Interest expense 52,598 9,376 900,963
Net (Loss) $ (125,182) $ (123,986) (3,589,525)
Basic and Diluted Loss per share $ -
See accompanying Notes to the Consolidated Financial Statements.
5
GOLD AND SILVER MINING OF NEVADA, INC AND SUBSIDIARY
(An Exploration Stage Company)
Consolidated Statements of Stockholders’ Deficit
For the Period From January 1, 2006 (Date of Inception) Through June 30, 2014
Deficit
Accumulated
Additional During the Total
Common Stock Paid-in Exploration Treasury Stock Stockholders,
Shares Amount Capital Stage Shares Amount Deficit
Balance, January 1, 2006 (Date of Inception) - $ - $ - - - $ - $ -
Services contributed by stockholder, 2006;
No additional shares issued - - 80,000 - - - 80,000
Shares issued to founders 164,438,120 164,439 (164,439) - - - -
Shares issued for services to founders;
2007, $0.05 per share 3,355,880 3,356 96,644 - - - 100,000
Shares issued for cash; 2007; $0.00 per share 34,534,790 34,535 (34,209) - - - 326
Shares issued for cash; 2007; $0.05 per share 1,677,940 1,678 81,655 - - - 83,333
Services contributed by stockholders; 2007;
no additional shares issued - - 200,000 - - - 200,000
Shares issued for cash; 2008; $0.06 per share 1,245,031 1,245 72,955 - - - 74,200
Shares issued for cash; 2008; $0.50 per share 6,208,378 6,208 185,485 - - - 191,693
Services contributed by stockholders; 2008;
no additional shares issued - - 100,000 - - - 100,000
Shares issued for cash; 2009; $0.15 per share 244,476 244 36,182 - - - 36,426
Services contributed by stockholders; 2009;
no additional shares issued - - 100,000 - - - 100,000
Shares issued for cash; 2010; $0.15 per share 295,385 295 43,715 - - - 44,010
Services contributed by stockholders; 2010;
no additional shares issued - - 100,000 - - - 100,000
Cash capital contributions; 2010
No additional shares issued - - 44,010 - - - 44,010
Accrued interest contributed by note holders - - 242,745 - - - 242,745
Issuance to Gold and Silver Mining of Nevada, Inc. shareholders
In exchange for a note payable 258,852,037 28,852 (304,852) - (24,000,037) (24,000) (300,000)
Cumulative loss from incorporation through
December 31, 2010 - - - (2,242,830) - - (2,242,380)
Services contributed by stockholders; 2011;
no additional shares issued - - 100,000 - - - 100,000
Shares issued for services; $0.25 per share 80,000 80 19,920 - - - 20,000
Cash capital contributions; 2011; no shares issued - - 50,650 - - - 50,650
Accrued interest contributed by note holders - - 85,725 - - - 85,725
Net loss;2011 - - - (282,265) - - (262,265)
Services contributed by stockholders; 2012;
no additional shares issued - - 100,000 - - - 100,000
Cash capital contributions; 2012; no shares issued - 184,060 - - - 184,060
Accrued interest contributed by note holders - - 85,725 - - - 85,725
Modification of note payable for treasury stock - - 130,406 - - 24,000 154,406
Net loss; 2012 - - - (404,266) - - (404,266)
Balance December 31, 2012 240,932,037 240,932 1,636,377 (2,929,361) (24,000,037) - (1,052,052)
Cash capital contributions; no shares issued - - 20,150 - - - 20,150
Shares issued for services; $0.0267 per share 3,750,000 3,750 96,250 - - - 100,000
Shares issued for services; $0.05 per share 3,000,000 3,000 147,000 - - - 150,000
Services contributed by stockholders; 2013;
no additional shares issued - - 92,800 - - - 92,800
Accrued interest contributed by note holders - - 85,725 - - - 85,725
Net loss, Year ended December 31, 2013 - - - (534,981) - - (284,981)
Balance December 31, 2013 247,682,037 247,682 2,078,302 (3,464,342) (24,000,037) - (1,138,358)
6
Deficit
Accumulated
Additional During the Total
Common Stock Paid-in Exploration Treasury Stock Stockholders,
Shares Amount Capital Stage Shares Amount Deficit
Services contributed by stockholders; 2014;
no additional shares issued - - 42,878 - - - 42,878
Accrued interest contributed by note holders - - 42,862 - - - 42,862
Shares issued for acquisition of Note
Receivable; $0.375 share 34,000,000 34,000 12,466,000 - - - 12,500,000
Shares issued for note conversion; $0.00125 share 28,000,000 28,000 7,000 - - - 35,000
Shares issued for past service; $0.001 share 20,000,000 20,000 20,000 - - - -
Net Loss Six months ended June 30,2014 (125,812) - - (125,812)
Balance June 30, 2014 329,682,037 329,682 14,617,042 (3,589,524) (24,000,037) - 11,357,200
See accompanying notes to the consolidated financial statements.
7
GOLD AND SILVER MINING OF NEVADA, INC AND
SUBSIDIARY
(An Exploration Stage Company)
Consolidated Statements of Cash Flows
Six months ended June 30, 2014
For the period
January 1, 2006
(Date of Inception)
Through
2014 2013 June 30, 2014
Cash Flows From Operating Activities
Net loss $ (128,182) $ (123,986) $ (3,592,524)
Adjustments to reconcile net loss to net cash used in
operating activities
Depreciation expense 175 212 21,906
Amortization of debt discount 9,075 9,376 46,575
Services contributed by stockholder 42,878 44,800 915,678
Common stock issued for services - - 370,000
Accrued interest contributed by note holders 42,862 - 542,782
Changes in accounts payable and accrued liabilities - (6,871) 46,362
Net Cash Used in Operating Activities (33,192) (76,469) (1,649,222)
Cash Flows From Investing Activities
Purchase of Equipment - - 21,906
Cash Flows From Financing Activities
Proceeds from notes payable 33,543 - 606,403
Proceeds from related party notes payable - - 337,000
Principal payments on notes payable - (14,000) (34,000)
Proceeds from issuance of common stock for cash - - 429,988
Cash contributed by stockholder; no shares issued - 86,899 332,244
Net Cash Provided by Financing Activities 33,543 72,899 1,671,635
Net Increase (Decrease) in Cash 351 (3,570) 527
Cash at Beginning of Period 176 4,280 -
Cash at End of Period $ 527 $ 710 $ 527
See accompanying Notes to the Consolidated Financial Statements.
8
GOLD AND SILVER MINING OF NEVADA, INC AND SUBSIDIARY
(An Exploration Stage Company)
Notes to Consolidated Financial Statements
Six months ended June 30, 2014
Note 1. Organization, Nature of Operations, Business Condition and Significant Accounting Policies
Organization – On July 30, 2010, the owners of APMD Holdings, Inc., a Texas corporation, (“APMD”) entered into an
Agreement and Plan of Merger whereby a newly-formed, wholly-owned subsidiary of Gold and Silver Mining of Nevada,
Inc. (“CJT”) was merged with and into APMD, which merger closed on August 16, 2010 (the “Merger”). As a result, APMD
became a wholly-owned subsidiary of CJT and its name was changed to CJT Mining, Inc. As consideration, CJT issued
212,000,000 shares of common stock to the APMD shareholders. In addition, CJT had 28,852,037 common shares
outstanding, of which 24,000,037 common shares were redeemed in exchange for a $300,000 promissory note payable to
the CJT former majority shareholder. The note payable was secured by the shares redeemed, which shares are reflected
as treasury stock in the accompanying consolidated financial statements.
The Merger was accounted for as a reverse acquisition. APMD was considered the accounting acquirer since the former
APMD shareholders remained in control of the combined entity after the transaction. Also, the officers and directors of
APMD became the officers and directors of CJT. The historical financial statements prior to the Merger are those of APMD
restated for the effects of the equivalent of a 1-for-1.67794 stock split. No assets or liabilities were acquired or assumed
from CJT.
Name Change – In September 2013 The Company changed its name to Gold and Silver Mining of Nevada Inc.
Consolidation – The accompanying consolidated financial statements include the operations and transactions of APMD
(now CJT Mining, Inc.) for all periods presented and the operations and transactions of CJT from August 16, 2010.
Intercompany balances and transactions have been eliminated in consolidation. APMD before the reorganization and CJT
and CJT Mining, Inc. (formerly APMD) after the reorganization are referred to herein as “the Company.”
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from those estimates.
Nature of Operations and Business Condition – The Company is a mineral exploration company with properties in the
State of Nevada. The success of the Company is dependant on the Company’s ability to obtain all necessary permits,
raise sufficient financing to complete exploration of the properties, develop the properties, and obtain profitable production
from the properties or obtain proceeds from the disposition of such properties. The Company’s properties may be subject
to changes in existing government regulations relating to mining, which may result in the withholding the issuance of
required permits. The Company may be impeded in its ability to acquire surface rights sufficient to explore and operate its
mineral properties. These risks may adversely affect the investment in the properties and may result in the impairment or
loss of all or part of the Company’s investment in the properties.
The Company is an exploration-stage company as most of its efforts have been devoted to raising capital and mineral
exploration activities. At June 30, 2014, the Company had a stockholders’ surplus of $11,357,202 and negative working
capital of $1,142,798. At June 30, 2014 and since that date, notes payable with principal and accrued interest of
$1,096,963 were and continue to be in default. The Company suffered losses of $53,481 during the six months ended
June 30, 2014 and had accumulated a deficit for the period from January 1, 2006 (date of inception) through June 30,
2014 of $3,589,524. The Company used $33,192 of cash in its operating activities during the six months ended June 30,
2014 and used $1,649,222 of cash in its operating activities during the period from January 1, 2006 (date of inception)
through June 30, 2014. As a result of these matters, there is substantial doubt about the Company’s ability to continue as a
going concern. Its ability to continue to meet its obligations and carry out its planned exploration activities is uncertain and
dependent upon its ability to obtain further financing and ultimately to obtain profitable operations.
For the past four years, Brian Collins, an investor, has provided financing to the Company in the form of paid-in capital
without the issuance of additional common shares and also in the form of notes payable to Mr. Collins. At June 30, 2014
the Company owed Mr. Collins $172,114. Mr. Collins has agreed to continue to fund the Company’s exploration and
development until the Company has developed commercially viable mining operations. However, there is no assurance
that this source of funding will continue or that it will be sufficient to allow the Company to continue as a going concern.
9
GOLD AND SILVER MINING OF NEVADA, INC AND SUBSIDIARY
(An Exploration Stage Company)
Notes to Consolidated Financial Statements
Six months ended June 30, 2014
The Company will require additional financing, which if not raised, would result in the curtailment of these activities. In the
foreseeable future the Company will likely remain dependent
on the issuance of debt and paid-in capital to raise funds to explore its properties, and on the availability of project
financing for the development of the Company’s properties. The Company is seeking additional financing; however, there
can be no assurance that it will be successful in obtaining such financing or on terms acceptable to the Company.
There can be no assurances that the Company’s activities will be successful or that sufficient funds can be raised in a
timely manner. These financial statements do not include any adjustments related to the carrying values and classification
of assets and liabilities should the Company be unable to continue as a going concern.
Property and Equipment – Property and equipment consists of office equipment and is stated at cost. Depreciation is
computed using the straight-line method. Estimated useful lives are 5 years. Depreciation expense for the years ended
December 31, 2013 and 2012 was $425 and $950, respectively.
All costs to obtain claims to mineral properties and explore those properties for commercial mineral interests have been
expensed as exploration costs. If commercial mineral reserves are identified, then from that date forward development
costs incurred, including the cost to remove overburden, will be capitalized and depleted as identified reserves are
extracted. Capitalized costs are evaluated annually for impairment. No costs of mineral properties have been capitalized
through December 31, 2012, and therefore no impairment has been recognized through that date.
Income Taxes – At December 31, 2012, the Company has operating loss carry forwards of approximately $1,735,000 that
if not used will begin to expire in 2026. Years open to audit by the Federal and state tax authorities are 2008 through 2012.
There were no uncertain tax positions at December 31, 2012.
Note 2. Notes Payable
The notes payable to third parties were initiated from 2006 through 2009 and consist of eight notes. Certain of the notes
were issued with common shares. The proceeds were allocated between the notes payable and the common stock based
on their relative fair values. The allocation resulted in allocating $240,258 to the notes payable and $174,242 to the
common stock. The resulting discount to the notes payable of $174,242 was amortized to interest expense over the term
of the notes payable. Accrued interest on the notes payable of $69,437 is included in the notes payable balance as of
December 31, 2012 and 2011. Two of the notes payable, for a total of $100,000, are payable to a third-party that the
Company cannot locate. These two notes have been outstanding since March 2009.
The notes were not paid at their maturity dates. Interest continues to be accrued on the notes at 15% per annum but is not
being asserted by the note holders; therefore, the interest that accrued during the years ended December 31, 2012 and
2011 of $47,175 and $47,175, respectively, has been recognized as a contribution to paid-in capital during each of those
years. The $469,937 balance due under the notes payable is in default, is due currently and has been classified as a
current liability at June 30, 2014.
Current operations are being financed by Brian Collins. Current notes payable to Mr. Collins total $172,114.
On August 16, 2010, the Company issued 28,852,037 shares of common stock to the Gold and Silver Mining of Nevada,
Inc. shareholders for no consideration and immediately redeemed 24,000,037 of those shares from the principal Gold and
Silver Mining of Nevada, Inc. shareholder in exchange for a $300,000 promissory note. The note is secured by the shares
redeemed, which are recognized as treasury stock. The note accrued interest at 10% per annum until it matured June 12,
2011. The Company did not make any payments on the note. On April 4, 2012, the Company renegotiated the terms of the
note, which reduced the note payable and accrued interest to $250,000, with no interest accruing over its remaining term.
The balance is payable in $50,000 increments every Year. At the date of the renegotiation, the carrying value of the note
was discounted for interest imputed at 15% per annum, which resulted in an initial debt discount of $68,488. The discount
is being amortized over the remaining term of the note. The unamortized discount was $21,613 at June 30, 2014. The
Company paid $210,000 of the principal balance of the note.
10
GOLD AND SILVER MINING OF NEVADA, INC AND SUBSIDIARY
(An Exploration Stage Company)
Notes to Consolidated Financial Statements
Six months ended June 30, 2014
The carrying amount of the notes payable approximate their fair values based on current market interest rates.
Note 3. Related Party Notes Payable
Related party notes payable were initiated during 2008 and 2009 and consist of 14 notes payable that bore interest at 15%
per annum, totaling $257,000 to Russell Anderson, a shareholder and the brother of an officer of the Company. Certain of
the notes were issued with common shares. The proceeds were allocated between the notes payable and the common
stock based on their relative fair values. The allocation resulted in allocating $156,216 to the notes payable and $100,784
to the common stock. The resulting discount to the notes payable of $100,784 was amortized to interest expense over the
term of the notes payable. Accrued interest on the related party notes payable of $80,000 is included in the related party
notes payable balance as of June 30, 2014. The notes were not paid at their maturity dates. Interest continues to be
accrued on the notes at 15% per annum but is not being asserted by the related party note holder. The $337,000 balance
due under the related party notes payable is in default, is due currently and has been classified as a current liability at June
30, 2014.
Note 4. Assignment of Mineral Claims
In order to finance the mineral interest claim filings and exploration costs, the Company assigned a 50% interest in its
mineral interest claims to Brian Collins, doing business as Collins Mining, (“Collins”) on September 28, 2010. As a result,
the Company will only recognize 50% of the revenue from any mining production that may occur in the future from the
mineral interest claims and the Company will bear its share of the exploration, development and production costs.
In addition, the Company billed Collins and Collins paid the Company $20,150 for the Year ended December 31, 2013 and
$44,010, $50,650 and $184,060 during the years ended December 31, 2010, 2011 and 2012, respectively, for exploration
costs incurred in his behalf. The Company has not recognized income from these payments received because substantial
uncertainty exists about the recovery of the costs applicable to the mineral interests retained by the Company and because
Collins is a shareholder in the Company.
Note 5. Legal Action
In 2007, an arrangement was entered into with Praesidium Professional Liability Insurance Company whereby our whollyowned
subsidiary, CJT Mining, Inc. (then known as APMD Holdings, Inc.) was to issue preferred stock in exchange for an
ownership interest in Praesidium. The transaction was never consummated, and the preferred stock was never issued. In
2012, Praesidium initiated a law suit for which the Company has filed a statement of defense that an agreement was never
reached for the stock exchange. The Company believes it has adequate defenses and intends to vigorously defend
against the claim.
Note 6. Note Receivable and Subsequent Event
On February 10, 2014 the Company entered into an agreement whereby it will sell up to 100,000,000 Class “A” common
shares to Bonanza Mines, Inc. for a 25% interest in a $50,000,000 Promissory Note issued by the Colindo Trust; plus
additional consideration of a 50% interest in the following properties:
(a) a Pilot Mill and a Metallurgical Processing and Production Lab and Facility to be built in, and/near Bullhead
City, (Mohave County) Arizona, which includes an approximate 1,000 tons of high grade precious metal ore that
will be shipped in for processing. This Property is also referred to as the “Gold Star Production Facility”;
(b) mineral claims in, and/or near Lake Havasu, (Mohave County) Arizona which resides on 2,000 acres (the
”Calzona Mines”).
(c) mineral claims in, and/or near Quartzite, (La Paz County), Arizona, which resides on 1,000 acres (the “Gold
Nugget Mine”); .
(d) mineral claims in, and/or near Goldfield, (Esmeralda County), Nevada, which resides on 3,300 acres (the
“Bonanza Mine”);
11
GOLD AND SILVER MINING OF NEVADA, INC AND SUBSIDIARY
(An Exploration Stage Company)
Notes to Consolidated Financial Statements
Six months ended June 30, 2014
(e) Mineral claims in, and/or near Baker, (San Bernardino County), California, which resides on 2,200 acres (the
“Gold King Mine”)
(f) mineral claims in, and/or near Randsburg, (Kern County), California, which resides on 1,200 acres (the “Black
Stone Mine”).
Shares shall be issued as per the following schedule:
(a) 34,000,000 In February 2014 in exchange for the interest in the note receivable;
(b) 33,000,000 after transfer of the above noted properties a – f;
(c) 11,000,000 upon the Company receiving $11,000,000 from any combination of the receipts on the Promissory
note, funds directly invested by Bonanza and net mining revenues earned on the above properties; and
(d) 22,000,000 upon the Company receiving $61,000,000 from any combination of the receipts on the Promissory
note, funds directly invested by Bonanza and net mining revenues earned on the above properties
Thanks For the response Sporty and the synopsis
Hey Sporty
I see you post on the VTXB Board and are waiting for news that is due out soon. I have followed this stock for months and it is set up to literally explode when the news does come. This has the lowest float and share structure of any pinkey I have ever seen. It has a great product. It has not moved much due to the fact that the float is being held tight. I can see this flying with unheard multiples as soon as they file form 10 which they have been working on to become a truly legitimate company.
Let me know what you think about the above and if you agree with my conclusion of being a great opportunity and potential multiples.
Its something and I am glad to get any published news
Just came across this and was told financials to get issued very soon:
COMPANY RENEWS AND VERIFIES MINING CLAIMS FOR
THE FUTURE IN NEVADA
Las Vegas, NV – August 28, 2014
Gold & Silver Mining of Nevada, Inc. (PINK SHEETS: CJTF), a junior mining company
in Nevada, announces the ongoing maintaining and enhancing of mining claims values
in Nevada.
The company is happy to report all claims including the new mid Nevada 31 claims
have been renewed at both the county and BLM for 2015. The renewals and
maintenance activity includes the gold and silver claims at Asset #26 Reveille, all 5 of
our stockpiled ore claims with recent assay results and purchase offer for said silver.
The stockpiled ore and the newest 31 placer mining claims have also been verified with
recent assay reports showing gold and silver.
The company and mining asset co-owners expect more sample work and assay results
this fall as decisions are made to move into production and positive cash flow.
I talked to Fred yesterday about all the negative comments being made and he confirmed to me that all is as stated, that June 30 financials would be out in a couple of days and the stock would take care of itself as news was announce. Just saw this:
COMPANY RENEWS AND VERIFIES MINING CLAIMS FOR
THE FUTURE IN NEVADA
Las Vegas, NV – August 28, 2014
Gold & Silver Mining of Nevada, Inc. (PINK SHEETS: CJTF), a junior mining company
in Nevada, announces the ongoing maintaining and enhancing of mining claims values
in Nevada.
The company is happy to report all claims including the new mid Nevada 31 claims
have been renewed at both the county and BLM for 2015. The renewals and
maintenance activity includes the gold and silver claims at Asset #26 Reveille, all 5 of
our stockpiled ore claims with recent assay results and purchase offer for said silver.
The stockpiled ore and the newest 31 placer mining claims have also been verified with
recent assay reports showing gold and silver.
The company and mining asset co-owners expect more sample work and assay results
this fall as decisions are made to move into production and positive cash flow.
your welcome
Sporty I am expecting CJTF to start moving soon. Talked to Company this morning and he said that financials to be issued in the next 2 days and payment on a $12.5 million note receivable in this or next quarter with a due date of 2/15/15.
He assured me that the financials will answer several questions relative to the stock and the gold they have found so far.
Company has a low float and great prospects.
Sporty Love the pick and really love the board. This will turn out to be the best board on I hub. Looking forward to your picks each week. Best of luck.
if more people bought at the ask when values are depressed then these stocks with great potential would not be such targets for manipulation as long as there is no dilution. Weak hands and day traders keep pennies from rising to levels they should. Anyway thanks for getting us green
Thanks for your reply but unless your bid was at the ask there were sellers but no buyers at the asking price is what I meant and since the ask, bid and last were so close, I am very happy no one reduced their asking price.
no one buying today what is up?
Sporty was absolutely correct. Bought 250000 more based on his post and love this action. This can definitely run to multiple pennies before any announcement.
Just got back from out of the country and see you finally started your own board and made another great pick with your latest stock. Hope the great picks continue and everyone can make some money off of your selections as in previous years.
Keep those picks coming and good luck with your group of mods. Lets all do well in months to come.
I hope so and hope they are in for a lot and when buyers start buying at the ask instead of patting themselves that got them cheap maybe we will have a run like cynk did from .06 to $22 in a month
I can not refute your findings and the conclusions your derive from them. However I can state that Although I have not posted a pic or avatar (do not even know how) and do not pay for a subscription to I-Hub for personal reasons, I am invested in VTXB with 1.6 million shares and have friends/family with over another 1 million shares who do not even belong to I-Hub and are in it because of me.
I am myself getting disgusted with this stock and people undermining the price . If the float is locked by strong hands then why are people getting shares at less than .015 almost everyday? If there is a big short position and MM's playing games who is selling their shares that peeps are jumping they got filled at below .015?
The only way to beat these guys is for the company to come out with some great news and while we wait for it, everyone has to hold their shares tight and bids need to be higher. The recent purchases I made were at the ask to get rid of the blocks that were stopping a higher close, but I am not going to keep doing it when others are undercutting me.
Just hit you back
I have 1.6 million shares
The problem is that they are not showing all the numbers behind what they are showing us on level 2. Like I said earlier they have been playing games in this stock and two others I am currently in and they get people frustrated by being able to outlast us and aggravate some to give up and sell their shares. With that sudden drop this morning I saw my account drop over $12000 grand in seconds. We have to hold tight. Good luck to all.
5 minutes ago I put an order for 70000 at .016 to take out the two asks at .0143 and .016 and got niether and nite when from 66000 shares to 10000 shares and back again. they are rally playing games. I reported this to the SEC and they said thank you for the info but did not indicate they would look into it when they did this 3 weeks ago
If they also get a cusip change it will by catching any shorts
I am very curious. How much do you get paid to bash stocks. Why else would you raise unfounded issues and provide no substance in your posts.
you are actually helping me accumulate more shares which each successive dip. So thanks for that. But honestly, do they pay in stock or cash and how much???
When I raised the bid to .0274 which was the nite and worl ask I got the balance filled of my order and then they appeared again with 10000 at .0274
I just enter order for 100000 at the ask of .025 and got some of it but not nites 10000 shares which then they raise to .0253 and Worl joined him at that price. The games they play and what seems to me they do not or can not let this baby run or they will be in big trouble. The only way to beat them is to keep getting peeps to buy at ask till they can not control it and longs to hold on and do not sell to the flippers.
This will fly when they stop with the games
Between nite and Worl they are doing a great job of keeping this down. It should be much higher. They much be short with the small float with what everbody here says they are holding. Seems every stock I am in any more this is the norm and puts the average trader at a major disadvantage. Where is the free market when these guys can keep playing these games. Massive buys and holds would make me happy by making money and sticking it to them if they are short shares
Today again I bought at the ask to try and see how much nite was going to keep the price down and they are not showing what they have or are willing to share. I hope they are short shares and when news/volume happens they get burnt like the b----- they are.
just placed order at .0269 to take out the ask and got filled immediately at .0267 and .0268. MM's must be hurting since a sale took place right after mine lower than ask and the 10000 shares at .0267 came right back on the ask. With any news and volume buying this will absolutely fly.
Zlue will make holders a bundle in my humble opinion.
This stock is the most contradictory stock I have seen in a very long time. It has a low float for a penny stock, no dilution, and financials that should have propelled this stock to 10 times its current price. I can only figure that some investors can not believe what they hear or seee since the company is not pumping it the way most pennies are pumped for the short hold and flip or to dilute.
I can only guess when investors finally come here this will explode.
Holding till it awakes!!!