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Yes it is my friend. Hope all is well with you and yours. Busy with tax season. Waiting for SFMI to do good so I can cash out enough so they greet me at the door at the bank with a cup of coffee instead of a dune notice. Yeah!!!!
THANKS IW.
They are required to report any material event that occurs prior to the issuing of the report. That's a fact jack! I know because I have been there and done that. Material events are required - good or bad. Accountant's nightmare. Especially in today's climate of auditing. Just info. Lets hope the "event" last week is material.
LB
Thank You.
And the wheelchair ramp for the mine workers!
Exactly what would those tax advantages be?
Great post, as usual, IW. I think you hit it on the head. I think we will benefit from a great buyout next spring/summer. I think the bod and mgt deserve to be well compensated and all will be known when the buyout occurs. I don't care how much anyone else makes, including mgt, I just care if I make a great profit. I believe that it will happen. I also am not concerned about the pps now because it only matters when I sale. That is the ultimate goal.
LB
That is incorrect. If a company withholds information to buy/sell shares in its own company to get a better price, it is a criminal act. It is self-dealing and the SEC takes a dim view of it.
LB
You go IW. Great post. Very clear and well to the point. Thanks for stating the obvious that most of the people here did not realize. You are the man.
LB
Reason should take hold. First of all, the company cannot "sit on the results" as it is material to the stock. It has to be released within a reasonable time frame (I think 4 days?). If not and held until Jan, SEC violation and potential fraud and self dealing charger. Next, it makes no sense to not report income this year. If they have the money, or the ability to get it, they have to report it. It may already be a receivable and an estimate of the amount on the financials as we speak. The 10 - 15 day frame is an estimate as the results have to come from the smelter. It is a holiday season and it may vary a few days due to personnel being off etc. PR's are either facts of what has happened, or about to happen. It is to inform. Don't take it so literal as there could be forces beyond the company's control. They will inform as soon as they know. IMHO
I hope everyone has a blessed Christmas and a happy new year. Go Go Go Go Go SFMI and all the longs.
LB
Absolutely GREAT program. I know people who have used it. It is not simple, but has great results. Would not work here because too much of the early income would go to those investors. Way too complicated to post here, but it works.
Hey people, I thinking about going to the meetings. I found a flight and hotel from DFW for 200 less that the marriott. It is at the Super 8. Who's going and what are the reservations?
LB
To all you knowledgeable people out there. I have been in the position to prepare 10Q's and K's and press releases. Yes the quiet period does exist. The reason is that if you put out a substansial press release, then you have to amend toe 10Q. The SEC report is current up to the filing. don't agrue with that, its a fact. Ask any SEC lawyer. MC is totally correct in what he said. To list on another exchange or to uplist, the same requirements apply. quiet periods are well documented and everyone who actually knows anything about this stuff understands that. I have been there and done that. I prepared the 10 Q & K many times and it takes all the time from the end of the quarter to the filing date for a small company to accomplish the task. It is massive and difficult. Nobody wants to amend the report and the new exchange filing for a press release. Get over yourselves guys and actually find out what you are talking about. Go MC, you are the man.
AMEN. I'm with you on all of thees.
LB
You sir, obviously do not know ANYTHING about audits. Take it from a CPA
Thanks. I agree. Most of the money will floww to PQ and the boys, and rightly so.
LB
I do not agree with most of you guys on the great cash cow that Goldcorp will be. I believe that they set up this corp so that they could do: 1) Sell SFMI for hugh dollars and retain a part of the income: 2) I believe that the main owners will that a large part of the income as salary and income. I do not beleive that the net generated will be great. Example: If SFMI grosses 500,000,000 in a year, then Goldcorp gets 75 Million in royalties. I believe that a large part (50M or more) will be "spent" on operations. I think the shareholders will see only a small part of the gross. Let's not get carried away with the numbers. Goldcorp will benefit the main guys (PQ & com), not us. It is just my humble opinion.
LB
I don't live in New York and Del Frisco's is about as good as it gets in Ft Worth. anyway, it's good enough for me. Our group will have about 50 people there.
LB
Yes we are. and soon
I want to take this time and thank Paid and upsidedown ( or whichever direction he is facing). It was through their tireless efforts to convince me that this is a scam. No one would work so hard,without owning any stock, to convince me to sell if they were't paid. I realized that they provided twisted info and that caused me to further resolve that this was a good stock. Thanks guys. Enjoy your paycheck
LB
Today, I became a 10 bagger. Yeah! I will sell 10% at 50 cents to recover my initial investment. I will then have 90% free and clear and riding tothe top!
Today, I cover 141 and spooz with SFMI! YEAH
LB
I reviewed the charts and you are right. It is behaving just like the last few runs and it is retracing nicely, percentage wise. I've bought more the last couple of weeks and will buy more when more money clears ameritrade
LB
Hey DCB
I went to the SFMI page and looked at the camera listed there and it looked like thete was only one camera and do activity. Do I need to look longer, I just looked a couple of minutes, or is there another site?
LB
I'm confused IW, does obfuscation, mean he messed in his pants? or in someone else's. He is such a strange duck, don't you think IW!
LB
OK guys, let's set the table correctly. I passed my CPA way back in 1977. I have worked in public accounting for over 38 years. I have also been the main guy in a small public company for a couple of years. We struggled with financing and it ultimately failed through the lack of financing. We struggled with the auditors over "going concern". We almost got it removed.
I have prepared thousands of financials for hundreds of different businesses over the years. I KNOW FINANCIALS. I have been an auditor and I fully understand how the entire process works. I am also the best damn forensic accountant any of you know. I know that for a fact. You cannot look at the financials and make many definitive statements. You can correctly prepare financials, according to the rules, and hide many things. You have to actually look at the details in the books and the source documents to actually see the truth. Don't ask, I'm am not going there!
I posted about the going concern because more times than not, the bashers try to use that statement as a negative and a reason to avoid the company. Truth is, almost all pinks should have that statement. It doesn't guarantee failure and the lack of it doesn't guarantee success. I just don't think people who are not knowledgable should get the wrong idea. All pinks should be a concern. If a pink gets the statement removed from the financials, then that's a company to get excited about.
I too did not renew my CPA license several years ago because the entire CPA organizations are just after money and you can buy their integrity with the right price. I conflicted with the organizations over several idealistic concepts: peer review, continuing ed, requirements of financials, opression of small firms, and several other issues. I participated in several organizations and committees and know the real thoughts. I thought the large and large wannabee firms were too easily for sale. I did not think that the rules and regs concerning auditing were followed and that they were ineffective. Guess what, enron and all the others proved that right. The profession went from professionalism to one of greed. I now have a tax only practice and am semi-retired.
nuff for now
LB
I haven't reviewed the financials in depth, which I will do at a later date. The going concern statement is a standard statement from the auditors. It is standard for companies that need cash and capital to continue. Borrowing from the officers and a shareholder will not cure the problem in accounting terms. IT DOES NOT mean that the auditors believe that the company is going out of business and it does not say that the company is probably going out of business. It is a catchall that covers the auditors in case something happens. It you want to fully understand it in the wonderful world of accounting, then take an advanced accounting course, pass the CPA exam (like I did) and then study this stuff for 30 years (like I did) and you will know that that phrase is not a problem or forecast. Management knows the problem and the gamble here as in all small stocks is if management can pull it off. I think they can.
LB
Yeah, but the indians were hiding the gold in them thar hills.
LB
Yall do realize that most of the western movies made are based upon: 1) bank robbers; 2) cattle rustlers; 3) wife stealers; or 4) gold thieves. Just pointing that out. LOL hahahaha
LB
Much, Bobby and Milo, its good to see you guys here and providing your valuable input. IW, you are so funny, as usual
LB
Not Trtue!! Please know what you are talking about before you post your information to "save" those of us who are not capable of doing their on DD.
LB
We've already got that.
Last time the price spiked, I believe it started much like today. Maybe a precursor to a spike and news coming next week. IMHO
LB
Written rules can be changed by the company. It's unilateral in that case. Not illegal. Poor management, but not illegal. If you don't believe it, check SEC and corporate law.
LB
Poor ethics is not illegal, maybe not right, but definately not illegal.
LB
I know many of you will disagree, butit is not illegal to do an unannounced R/S. It may be unethical, but totally legal. It only reguires the approval of the Board. although the management has failed in many of their attempts and made many bad judgments, they have not done anything illegal. Maybe unethical, but not illegal. This is a pink and falls outside the rules of the big companies. We may not like it, but it is true.
LB
IMHO, you are right on the mark. Wish it wern't so, but it is. all hope is now on the new approach by 141. I have to give Paul and Errol credit for sticking in there and trying to make it work.
LB
Hear!! Hear!! You know, some people complain that the stock is not trading. Then they complain that the stock is trading and going down in PPS. Now they are complaining that the stock is trading and the price is going up! Go figure.
LB
Spooz is not dead, it is very wounded, by not dead. It all depends on the wind river - 141 - spooz deal to be completed later this year. Until then, deal with it.
LB
I'm sorry you are not able to understand the process. I'm also sorry that you do not understand the process on the large companies. If I explained that to you, you would never buy stock or read financials again. Please show some class and do not mock something you do not understand.
LB