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But, on the bright side it is more volume than we have had in 3 weeks...I mean a few days LOL WOO HOO!
Just found this page from AGS's web site. Looks like it is AGS' standard wording. Maybe thats the "New York City-based institutional investor"
click chere to go to their website and the page that describes what reserve equity financing is. Confidence gaining, but still on the down side.
Visium Asset Management is also out of NY and is sort of associated with AGS
Same text as IDCN from here also. Maybe it is standard wording, but this doesn't look good. I am not confident at all.
web link from atricle
The Reserve Equity Financing provided by AGS represents cost effective and flexible financing that places China Wi-MAX in control of how and when it raises equity and debt.
Chris you will like this:
Reads almost word for word as what is posted on the Indocan home page. In bold is the same text. LOL
from Flint Telecom Group Signs $10 Million Reserve Equity Financing Line With AGS Capital Group
The Reserve Equity Financing provided by AGS Capital Group is a cost effective and flexible financing that places Flint Telecom in control of how and when it raises equity and debt. In order to utilize the agreement, Flint must increase its total authorized common shares and have an effective registration statement in place, both of which are in progress. Flint Telecom can then sell its common shares when the price is attractive to the Company or issue debt to AGS. The Agreement does not prohibit the Company from raising additional debt or equity financings, other than financings similar to this agreement.
Full details of the agreements and conditions are disclosed in the Company's SEC Form 8-K filed yesterday with the SEC.
from Indocans web site
Indocan Resources, Inc. (OTC: IDCN) Signs $100 Million Reserve Equity Financing Line With New York City-based institutional investor.
The Reserve Equity Financing provided by a large capital group is a cost effective and flexible financing that places Indocan Resources in control of how and when it raises equity and debt. The Agreement does not prohibit the Company from raising additional debt or equity financings, other than financings similar to this agreement.
Full details of the agreements and conditions will be disclosed in the Company's upcoming formal Press Release in a few days.
Thank you for the quick and candid reply. Not really sure what the term "broker support" means in the IDCN world. Do you have any insight as to its meaning? It would help clear up a fairly vague reference. Thanks again.
Ken It is 2 weeks since the "few days " post on the web about the PR. Is it still comming or did JRB and Angela snow us again? Please investigate it. JRB isn't replying to emails on the subject.
Although I hope it is not the case, I agree with your opinion.
I wouldn't put too much time and energy into it Chris. You know it is JRB and his wife (she was the filer of the move to the new domicile for the corporation). Too many false or missleading PRs and web site updates. Just waiting to see if this forthcomming PR makes this one move. Too bad they had to ruin the confidence of last spring and dsestroy the share structure. So, if no PR today then a few days now means 2 weeks. Par for the course I guess.
I agree with you and I can sit on this for quite some time until profitability. I just feel like complaining cause it is actually fun sometimes. I have faith in what Ken is telling us is the best he can do and I know JRB (even though I have no trust in him) wants to keep this cow alive and get new investors in over and over again. He will have something for us soon and if we are lucky it might have enough to get the ball rolling uphill again. EVERYONE have a safe and happy Thanksgiving holiday! GLTA
Yeah? .... But, do you feel aware now? LOL
Yeah, that would be very interesting indeed.
FYI
The normal Space-Time Continuum has been redefined to day as a "few days" = "1 week"
Not that I am enjoying the BS from the JRB world, but based on what you stated, would it be better to let the tax sellers though and push a PR after they started their tax break sells? But then again, what would it matter with our new A/S and O/S. JRB could state the world was comming to an end an IDCN had the only solution to save it and we would still not have much. What this is going to come down to is a factual PR on a revenue producing item and nothing less. No ifs, no buts, no forward looking statements. We need a revenue generating and an independantly verifiable product. Common JRB! Quit BS-ing and be a standup CEO for once in your life! Ahh hell, who am I kidding? Anyway, JRB YWGYITE-IWGM. GLTA
Thanks Teffy. I am also done with JRB and will jump off on the next bounce from that one. I am in cheap too and hoping for some profit after he sat on my funds for a year. Dont need a large bounce to meke me profitable. Lets hope this next PR from him has enough push to it. Was looking at this one and noticed you were in it so I wanted your take. Thanks for the reply.
Teffy, What do you think about this one. If JRB come through on the other one you and I are both in, I might put a llitle towards this. Do you know the real share structure of this one?
Side note question Ken,
What is your confidence level after your last conversation with him?
BTW thanks for keeping us informed when you can.
few
determiner
not many, one or two, hardly any, scarcely any, rare, thin, scattered, insufficient, scarce, scant, meagre, negligible, sporadic, sparse, infrequent, scanty, inconsiderable In some districts there are few survivors.
not many many, divers (archaic), abundant, plentiful, sundry, manifold, inexhaustible, multifarious, bounteous
from:
[Old English feawa; related to Old High German fao little, Old Norse far little, silent]
I think silent has been JRB's intended use of it so far.
IDCN JRB news
I would hope so, maybe because he is using an London accent in his PR's / web posts and we are loosing the meaning over here in the USA? (i.e. Cafe and Cafe or lead and lead, or live and live) (lol)
So the quote from http://www.indocan.com states;
"Full details of the agreements and conditions will be disclosed in the Company's upcoming formal Press Release in a few days."
Let’s see, that came out on Tuesday.
so from where I come from. what this means in the English I was taught;
• A day would be Wednesday. (1 day)
• A couple of days would be Thursday. (2 days)
• A few days would be Friday. (3 days)
• Some days would be Saturday (4 days)
• A week is would be ?
Anyone else have a different definitions?
I wonder if that has anything to do with a previously mentioned JV partner who has finnaly started to report their 10 reports with the SEC?
Nah, stay professional. I wasn't part of your conversation to him so if you ripped him one, I take back my previous comment to you. Also, in that light, just stay on him and remind him as CEO who he works for besides himself and that he needs to step it up a bit in informaion area. Vague references to timeframes and projects only lead to speculation and angry share holders..... but you already know that. GLTY and thanks for keeping us informed. It is appreciated eventhough we act ungrateful at times.
You are right my friend. Ken got duped like the rest of us and I don't hold him to anything. I don't think many people really do. However, that doesn't mean JRB gets a pass "because he has always done this". I will wait for some time if I ever do anything. Not sure if I will , but then again not sure if I won't either. I do have the juice to go either way on this and if I do, it will be on my terms and only if it is worth it. I know I will make money off of this thing in time. Two pips and I am in decent profit. So I am really not all that stressed about it. Just a soapbox day so I apologise if I offend anyone or hurt feelings, but this is the business of making money . GLTA
You need to expect better than that Ken. As the IP and as a Rep for what you say is 3.5 Billion shares, you are rolling over way to easy and letting JRB have his way without some sort of justification. You need to nail him down on some dates and milestones to achieve. He needs to quantify what he has done or else it looks like he was not acting in the best interest of the share holders and was only looking out to line his pockets. If the latter is the case, jail time for JRB would be the next big material update. You might want to remind him of that and that some are just unhappy enough to force that issue. JMODYODD
True, I just hope he didn't act upon any inside information. It wouldn't matter if he was lied to or not. By him announcing publicly he was going to buy shares here and through his group, he probably covered himself. I think he is pissed just like the rest of us. On a side note: I have now 2 frozen Pinkies thanks to the SEC crack down of late. I didn't have much in them but I am sure I will be headed for a loss in those at some point. GLTA and let’s hope that a great PR is coming so we can all win.
All I can say is unless Jeff comes up with information soon and it is information that is in the best interest of the shareholders and company, he will go to jail and be fined. Ken, on the other hand, is most likely in the clear as long as he did not act on any of the insider information. However, I am hoping that the increase of shares and gaged TA has to do with an RM or an actual purchase of revenue generating items.
JRB is violation of the rules if he personally benefitted or sold 1 share of his during the gagging of the TA. Any shares that have sold would have to be the property of the company and not JRB. This would not be covered or protected by "safe harbor".
Read below for the rules.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
What is insider trading?
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.
Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if that person is "aware" of the material nonpublic information at the time of the purchase or sale.
Affiliates, insiders, relatives, or other persons in possession of material information should use extreme caution when buying or selling securities on the basis of material information, particularly in securities where the company is not making adequate current information publicly available as a matter of practice.
BTW. Its not an opinion. It is the Law. Pink sheets are subject to it also.
Charles, I just went out to their site and a slew of trojans flooded in. They were blocked by my computer. That is most likely why they are down. (under construction) Looks like the hosting service in India is badly infected. At least 6 cookie trojans were detected by my security gates. ( I am in the business so I know what I am talking about). Anyway, if anyone goes to the site, check to make sure you have not picked up some cookie trojans from them. GLTA and DYODD
nice!
I believe we are in for a decent to good run comming up. We are definately consolidating since last week's good run based on the Fibo's. Looks good to me and more to come in my opinion. Added a little more today. GLTA
Ken,
Event hough I am not a SCG member, I will proxy with you with what I am holding right now. Let me know via a PM in 3 weeks with an email I can respond to to send I agree with your proxy and that I am proxying with you.
A big fat AGREE!
You made the right move Space. Anyone who thinks you killed a "run" is just jealous, trading with emotion, and being silly. Listen Kids, this is about making money not about being a benevolent benefactor to some stock. IDCN is a toy stock that no one should ever fall in love with until it has genuine business. When you make some money on it, take your profit. Period. The rest is just greed talking. You all should take a few notes on how Space trades. If IDCN has some real, viable, and confirmed business that makes money for IDCN, then it is time to hold. Cheers to you Space, my trigger was at .0006 but it didn’t make it. I expected the same things you did and if my trigger hit, it would have sold for a profit, I would have bought back in a .0003, and purchased a big fish and chips dinner for myself! It was my fault I didn’t set it for .0005. (.0004 was just below my break even but even that would have been a good trade because I could have recycled it down to 3 for more shares.) GLTA, but before you bash someone for making the right call, do a reality check on your own trading style and why they beat you to the punch. IDCN will run and run hard, but not until some good news. Once you get that in your brains, you might make money off of this thing. Disclaimer – I own no stock in Space, but I still own a lot of IDCN and it will be traded at my trigger points.
It may or may not be but, "Our Gold Property efforts and oil production acquisitions continue with certain success." is not a wormy or conditional statement. It actually says "certain success" which means only one thing legally, there is success not failure. How much success though is up to debate unfortunately.
GLTA and I hope we are not snowed in again on the information front.
I guess those twos wre just flying out the door. LOL I love the bashers and their theories now. If some of the dd I did from a few months back was correct, we should be in for a good time if we actually closed on on the thunderbay area properties. (There was an interesting merger in mid june and I wonder if we are involved...and yes has to do with that DD) Both hockey stick and the nice hogan are in there where the merged companies had business dealings/properites.
I guess I 'll just have to keep accumulating with my bottlecap money, because I won't be able to average down very much more at this point GLTU and I hope you get to close out your 2s before we get news. I don't really know if we go to the moon or not, but I will be very happy if they light the candle if ya know what I mean.
did you get any .0002 today?
true true
I bought some more today at .0003, not a lot, just enough to give me a whole number again. (and it was at the ask at the time) GLTA
Wocka,
You won’t get all of it back. The trading loss (max of 3000 per year) goes against your earnings. I.e. say you lost 1000 dollars on this trade and earned 15000 in income for the year. Instead of being taxed on 15000 you will now only be taxed on 14000. So, if your tax rate at 15000 is 10% you would owe 1500 in taxes. However, since you took a deduction for the loss of 1000, your taxable income would now be 14000 and if your rate was still 10%, you would only owe 1400 in taxes. Basically in this scenario, you get back 100 dollars for owing less taxes, but still loose 900 that you will never see again. That being said and you being a student, you probably have only earned the bare minimum and would get back your withholding taxes anyway without taking the deduction. So I would not be in to big of a hurry to cash that deduction in and if it were me, I would ride it out until you have graduated and started making money on your post BA/BS wage where you will actually get some benefit from the loss. You only have to claim the loss post sale and if you are willing to let it go now for a loss, you should wait for a few more years until you graduate. The upside is that you may actually have some profit in a few years and may not have to claim a loss. Who knows what the future will bring. Unless you earn more than 30,000 right now, it is not worth the deduction to you yet, because it would be so small due to the tax bracket you are in. Let it ride. You can always sell later in life and use it then. BTW, TurboTax and Tax Cut programs will ask you questions and do the math for you, give you the right forms and choices with personal income taxes. GLTU and study!
PS I applaude that you are trying to engage in the market so early in life, however instead of playing the pinks. I suggest you put all you can in a roth IRA. If you would have put 9000 dolars into a roth IRA by the age of 19 , you woudl retire a millionaire. there is a rule called the rule of 72. it goes like this. you devide 72 by the average % return on an investment. the result is how may years it takes to double yyou money. so if it too until you were 68 years old and you average each year was 10% you woul be invested for 49 years. so using the rule of 72, 72 devided by 10 equals 7.2. that is the number of years it woudl take to double up. so 49 years of investing devided by 7.2 years is 6.8. that means you wil ldouble 6.8 times. so you started with 9000. first double would make it 18000 (7.2years) the 2nd would make it 36000(14.4 years), third would be 72000 (21.6 years and you would be 41 at this time) 4th woudl be 144000 (28.8 yrs and you are not even 50 years old yet) 5th woudl be 288000, 6th 576,000, and 7th is 1,152,000 and you would be retirement age all tax free! for only 9000 invested. Do this first. Then jump into trading stocks
Nice bash try,
There were many Official PRs past march 10th. If you have something good lets see it.
Here are the PRs post that march 10 date. Again, if you got something solid I would be interested to read it.
I will admit we are awaiting the end of the "silent period" and the follow through on this or anything. GLTUA
Press Releases
INDOCAN RESOURCES ENGAGES KZEN EQUITIES
LONDON, UK, May 27th PRNewswire-- The Board of Directors of Indocan Resources, Inc. (OTC: IDCN) announces that it and its strategic partner Mid-Atlantic Capital have engaged KZen Equities Pvt. Ltd. of Mumbai, India, Mauritius and Dubai as advisors regarding the raising of capital and other needs regarding the Bele Holdings gold mines in South Africa that our group has committed an initial $12 million capital infusion.
KZen Equities Services Pvt. Ltd. (KZen) is an Indian investment advisory company, providing investment opportunities in India and worldwide, for individual and institutional investors and corporate strategic stakeholders. They offer clients direct access to the fast growing economy and emerging markets in India and around the globe. They draw on international expertise to identify countries, sectors and asset classes in the forefront of growth.
Company president, Jeffrey Bruhjell says “This alliance will lead to a successful funding and IPO or reverse merger to accomplish our goals for Bele Holdings.”
Bele Holdings has been granted mining rights (new mineral rights) for an area covering some 144 square kilometers in Barberton – Mpumalanga province. The mineral rights comprise 414 base metal claims with a serious history of gold production at all eight mining sites.
We seek “Safe Harbour”
More information can be learned by visiting our website: www.indocan.com
CONTACT: Investor Relations, Ken Ash +1-910-300-8189 kenash@indocan.com
Source: Indocan Resources, Inc.
INDOCAN RESOURCES & MID-ATLANTIC CAPITAL COMMIT $12M TO BELE MINES SOUTH AFRICA
PALMA DE MALLORCA, SPAIN, May 17th -- The Boards of Directors of Indocan Resources, Inc. (OTC: IDCN) and Mid-Atlantic Capital Ltd. announce that they have committed to a $12 million minimum initial capital infusion to eight mine sites in South Africa.
Bele Holdings has been granted mining rights (new mineral rights) for an area covering some 144 square kilometres in Barberton – Mpumalanga province. The mineral rights comprise 414 base metal claims situated on the farms Hooggenoeg 150 IT, Doornhoek 157 IT, Kortbegrip 168 IT, Laggenoeg 158 IT, Rozentuin 159 IT including the Von Brandis, Heather Bell, Pentland and Thistle section, Soodorst 2, IU Overberg 1, IU and Nooitgezien 3, IU in the mining district of Barberton.
These claims cover the area of the Old Thistle, Heather Bell, Golden Snake, Von Brandis, Queen of Sheba and Pentland mines. The property lies at a mean height of 765 metres above sea level, close to the Komati River.
Bele Mines has substantial infrastructure including a number of shafts and 300 m of underground development and is the most advanced of the projects in the area. The main shaft was sunk to a depth of 50 meters and reef development has taken place on a mineralized shear zone.
Mid-Atlantic Capital advises public companies on funding activities and helps companies become public and get early stage funding. Indocan Resources is working closely with all parties related to this gold mining prospect and will have a carried interest and a slice of the NSR when completed.
Mapping and sampling carried out by previous investigators has established a total resource of 8 million tons of ore at 7.38 g/t down to a depth of 45 meters below the extensive reef development on the 50 meter level, i.e. 95 meters below the shaft collar elevation (this represents circa 1% of the total mining area).
This is equivalent to some 1.4 MILLION ounces of gold from the developed area
Production of 360,000 tons per annum at 7.38 g/t producing after 29 months revenue amounting to an average of US$60 million per annum. The life of mine is estimated to be over 20 years.
At a discount rate of 15% per annum over a ten year period the estimated Net Present Value amounts to US$233M for the existing developed mining area (this represents circa 1% of the total mining area).
INDOCAN RESOURCES ANNOUNCES A SECURITIES AWARENESS CAMPAIGN
MISSOULA, MONTANA, April 21st PRNewswire-- The Board of Directors of Indocan Resources, Inc. (OTC: IDCN) announces its plan to launch a Securities Awareness Campaign beginning April 22nd , 2010 and running until April 21st , 2011.
According to the company, a Securities Awareness Campaign is not unlike an advertising campaign, it is a series of advertisements and or sponsored messages that share a single idea and theme to create awareness of the company's current and future objectives and potential with the intent to attract and interest investors and or stakeholders.
A Securities Awareness Campaign may include the hiring of investor relations personnel, launching a new web based investor relations platform, sending emails to opt-in subscribers of newsletters and/or information websites, placing ads on websites, sponsoring research reports, interacting on message boards and mailing press kits and information. These services can be paid and/or hired by the company with the issuance of restricted shares and/or cash. It is also possible that existing shareholders pay individuals and/or companies to perform these services and these shareholders could pay with the transfer of shares and/or cash. In either case, the company intends to provide whenever possible with a disclosure of said payment and/or hiring.
Shareholders and/or potential shareholders should be aware that a Securities Awareness Campaign does not guarantee that a market will develop in the company's securities and that in the event an active market does develop, the price of the stock may not reflect the fundamental value of the company. It should be further noted that the shares are tightly held by few shareholders and this may have the result of a sudden increase in the price of the security and the same is true if the security is sold, it may result in a sudden drop in the price of the stock.
The company does not support in anyway the use of "spamming" and request that shareholders immediately contact the company in the event they receive and/or are aware of such activity.
Important Information:
About Forward-Looking Statements: Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Indocan Resources, Inc. and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INDOCAN RESOURCES TO COMMENCE SAMPLING HOCKEY STICK
LONDON, UNITED KINGDOM, March 18th PRNewswire-- The Board of Directors of Indocan Resources, Inc. (OTC: IDCN) announces that the sampling program at the NW Ontario site we call Hockey Stick shall commence presently. Crews are entering the site today to assess the surface conditions. With a warmer than usual winter and lighter than normal snow pack we may be able to start backhoe work immediately in target areas.
We seek “Safe Harbor”
I have to agree with you there. If it was good enough to sell, sell it all. The logic being a preson technically did sell all of the stock and bought back a smaller amount at the price they sold at and called it "free shares". The "free shares" are usually the profit (or interest) the investor gained off the original amount invested. So, it is now an unrealized proft and over time the investor actually lost money on the original amount because of the cost of living. They have basically put that money in a box and burried it in the back yard.
When I sell a stock I awlays sell all and don't run back in. I put my self on a 2 week time-out so that I can limit the knee jerk reactionary rebuy that stock. A lot of times the vloitility has calmed down by then or the stock has changed to something thats not as profitable as goin into a new stock (maybe the one you reasearched for 2 weeks while you were on a self imposed time-out) ;) Just an opinion
Yes that was it.
I tried to post something the other day that would help explain the MM behavior, but unfortunately one of the IH admins removed it. I believe that that may very well be the case and the MM's are trading a lot of shares in IDCN they don't have at these levels, because the volume is good enough for them to make some cash in the spread. It looks like VERT is being the AX for now and they are infamous for being either a dilutor (which we assume is not the case based on previous information) or being an AX and playing the game with shares they don't really posses. Anyway, they should be gone soon enough because they can not play that game forever. JMODYODD
GLTA