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SO, IN OTHER WORDS:
You have no balls, and will not submit a complaint. They win then. The more people that file a complaint, the better chance we have to put these guys out of commission. Remember, they took our money! Doesn't that piss you off. If not, then give me some of your money. These guys are criminals!
I am giving you what I received
I have email correspondence from John Perez from April until July 8th.
As of that day, Stephen Spalding's cell was what I have given. I called him either that day or the next, and I already relayed what he said to this board.
I think Mr. Spalding was stunned that I called his cell phone at that time, and he probably got angry with JP and now his cell number has changed.
It's clesr: these guys conned everyone, and as far as I'm concerned it is John Perez. If that is truly his real name, I think we collectively have to file SEC complaints against him. It takes numbers to have a chance to be heard.
Do you really think that after months of silence, these guys are going to come forward and say that they made a property deal for US? If any deal is being made now, it is in their pockets or they are just letting the options expire and will profit later.
I received that info from a phone conversation I had with Mr. Spalding over a month ago.
He said they would try to raise money. They need $1.5 mil to get one property in production.
I think, these guys just want it to blow over, and they will get something for the property rights and pocket it themselves. The share count went from 366 mil to 432 mil in the last months of trading, so it is not hard to surmise that these guys got shares and cashed them in for anything they could get. And now, they are acting like they are victims themselves.
They have a list of the shareholders and there were 87. Sending some sort of correspondence to these investors would be the professional thing to do. But I guess professional scam artists do not.
John Perez gave me this number for Spalding: 1 415 860-5192
I have John Perez' number as 1 949 280-4323
Probably disconnected by now.
There are still 87 shareholders that they haven't said a word to. The only thing that should have changed was that this is not a publicly traded company.
They still control the rights to two gold properties and gold prices are well above $1200.
Both Perez and Spalding will say they have shares also and act like victims, but it is my opinion that they sold a ton before the shutdown also.
I agree with you:
Seems like Aquam was part of an insider role.
But the bottom line is this: I did speak with Steve Spalding, and he was very candid. There were 87 shareholders holding approx. 430 mil shares of stock in what is now a private company with the only assets are the rights to two possibly gold-producing properties. Steve did say that he worked months for no pay, only shares, and he stands to lose all if nothing happens.
3 scenarios exist:
1) the company somehow raises $1.5 mil and that would be sufficient to get production going and shareholders could do alright. Raising money in this environment is not easy.
2) another publicly trading company takes on the properties for restricted shares in their company. Shareholders of old USAU would at least have something, who knows what it would equate to.
3) nothing happens. The company loses their property rights to their properties and the scam is complete. 80 + Angry shareholders never forget and hound these crooks for the rest of their days. I promise, I will be one of them.
ttmasher,
as I suggested before, please file a serious SEC Fraud Complaint.
USAU has been delisted, and noone has come forward in any way to explain what is happening now. John Perez is washing his hands. His are the dirtiest. If enough of us file the proper complaints and testify under oath if need be, we could put matters into their rightful place.
A couple others on this board are trying to give false hope. Maybe there is, somehow, but then shareholders would have been already been told something, somehow by now.
What is happening is a diversion to further hide guilt.
Unfortunately, speaking of Hope, this is more like Bob Hope's brother: NO Hope.
Just a tad of information from an email:
"Stephen Spalding is president and he is reviewing options. FINREG"
JP has placed the blame on the fate of USAU's delisting on the new regulations, trying to divert the blame off of himself.
If the following quote is true, Stephen Spalding should sign on to this message board and tell all the scammed shareholders what options are being reviewed. Where else could we be reached? The yahoo board no longer ackowledges this company or message board. It won't hurt us now to tell us how many millions of shares were sold by company insiders in the last 6 months. The last estimate was a total of 432 mil shares outstanding.
I suggest for those involved here that everyone file an SEC complaint.
I also suggest that we pick another company board to converse on, in case this one gets deleted. What active board do any of you suggest here and on yahoo?
With gold heading north again, looking as though it will challenge the highs soon, it would be beneficial for us to get some type of news, even a twitter means something is stirring.
I hope the last twitter about the FINRA isn't some start of an alibi as to why USAU can't become compliant. That would be lame and unjust.
With USAU's land rights and gold rising, the pps should be hitting highs along with gold.
I can't see why anyone would bail out now on the gray sheets when we waited three months for SEC compliance and it should be right around the corner.
We are sorry to see you go.
Did you just sell your last 100K shares today?
Why are you leaving? Seems like we should only be a couple weeks from finding out something.
If you discovered any info, we'd appreciate it if you could share it.
I'm really still here, although for some strange reason the I-HUB administrator thinks I'm spamming and has deleted my last three messages. You guys have read my previous messages, and although I have mentioned other companies as comparisons to USAU, do you really think I said anything that was soliciting or spamming for other companies?
With all the promise that USAU has, when(?) it becomes SEC compliant and with other similar company models showing $100 mil market caps, and the price of gold holding up dispite market weakness, there is no way I can sell this.
Anyone who has talked to JP, knows he has a good gift of gab, but he definitely believes in what he says, and I think he has strong resolve to make this company succeed, and also has a deep commitment to prove naysayers and bashers wrong. I know he didn't expect this SEC holdup. And it was inherited.
If this turns out to be a scam, I guess I will be heading out west to visit the scammers in their abandoned mines hideouts.
My understanding is that the deal is with USAU, and dependent on a satisfactory visit and DD of La Dama property by SRWY next week. Once the deal is finalized, I'm sure we will hear from USAU(IMO).
I am a believer for SRWY, and what you say is true. Is USAU going along for a similar ride?
I'm surprised there was not a twitter about La Dama 40 % deal. The news is on SRWY's site. Does USAU have to be quiet about this, although it is already public knowledge?
It sounds like good news although there could be mixed feelings. USAU probably is in need of the cash to go forward and $200K + at least 500K shares of SRWY probably fits the bill. Was 40% a lot to give away for this price? I don't know. But if this alliance gets the evaluation and possible production moving, and also helps with the Jack Creek and other properties, then it is a great move.
Ed Minnema posted here quite a bit months ago and he was called a pumper although I thought that he was a true realist. Seems he was accurate.
Wow, did a little studying on Ed Minnema's company: SRWY. Shares went from 0.001 to 0.20 in no time. Since SRWY bought 40% rights to La Dama, although USAU's name wasn't mentioned, I can only assume that's who it was purchased from USAU. Once this SEC halt is lifted, USAU is going to go for the ride with SRWY and surge higher. JMO
100% correct. Why keep us guessing. Just spill out the news. But the fact there is news of this caliber is good in my opinion.
I won't take the credit, it was on Yahoo finance message board and I just relayed it.
Sorry, I meant the La Dama de Oro property. My bad!
I don't know if this is good or bad, but JP better come out on twitter or on some type of PR and explain:
40% of the De Lama gold propertiy rights have been sold to SRWY. go and read their news. It could be a stroke of genious that SRWY will post the $200,000 to fulfill the Dec. deadline, for 40% rights. Or, it could be that USAU is getting all they can in their pockets before doom sets in.
This is news that should be explained immediately to shareholders. This is not a quiet period exception, I'm sorry.
We need to know!
It's the quickness of dilution that is a concern.
If in fact, it is 432 mil, that is 66 mil more than in January, and at 0.005 that is $330K or more that was paid for those shares over just 4 months time. Authorized share count is at 500 mil, and I don't want to hear of any kind of increased authorized shares news or reverse split news.
I was hoping the 500 mil authorized share total would be enough to get the whole shebang rolling.
I've seen many posts that low dilution was a top priority of JP. 66 mil dilution in 3-4 months says the opposite. I realize that people need paid, but diluting and selling at current levels sucks.
I own this stock and want to be positive like you, masher, but I also have an open mind to weigh the negatives as well.
"cpt" :
I called the Transfer Agent and they were to call back. If that share count is correct, then that is a little shocking that they are diluting this much. This could explain the sell off before the SEC stepped in, and now that the SEC is involved, I'm sure all insider grants purchases,and sales of shares must be documented.
My conversation with JP hinted on less shares, not more, because some shares could be retired. At this point, its hard to know who and what to believe.
I hope I'm entirely wrong, but maybe these 2 mil shares are last ditch effort to dump.
What or who is TA?
On USAU's website, under investor's share structure, there is 366,598,736 shares outstanding as of Jan, 2010. Authorized shares 500 mil.
Your number is about 65+ mil more. So, again, where did you get that number: a link would be helpful.
Thanks
Having your own mother into the stock is very convincing. Without being an officer of the company, that would be as close as insider buying as you can get!
Just curious about everyone who reads this board:
JP said that he had friends and family involved in this stock. Obviously, that would put additional pressure on him to succeed. Does anyone here fit this category?
Thank you for your reply
It's good to see that he is still long USAU, and so are you. But, are you and he still positive about the future?
I do think USAU is doing everything the SEC is asking, but this quiet time does suck. And this is dealing with past business.
That being said, and assuming USAU will be trading again in a month or so, I really want to know how the other aspects of present and future endeavors are proceeding. With gold above $1165, a JP proclaimed important number, has this initiated promising action on USAU's part?
My understanding is that USAU is waiting on the SEC at this time. How many reports need to be filed, I don't know. What "rolling basis" means, I can only venture a guess. Since they were behind a few years worth the reports, my guess is that they file one, it is okayed, then they file another, it is okayed and so on. Then by June 18th, there is a hearing, and decision is forth-coming afterwards.
But I was also given a sense of hope that things could happen sooner than June 18th.
If someone knows more about this, We'd appreciate your comments.
So Aguam, was the ex-board member the engineer you spoke of? And since he is an Ex-board member, is he still positive on USAU?
Aguam: Were you invited to this mine as a shareholder? Who were the others at this meeting at the mine and what was the main purpose?
Thanks, Carl
The key is getting them. I've picked up all I can and wanted. When those sales a few weeks ago for 1 million were happening, I got parts of those blocks. In order not to get a tiny partial order and still pay the commission, I placed my order as GTC(good til cancelled) and AON(all or nothing), and of course a limit order. On two occasions, a day or two later, I got the fills I wanted.
When this starts trading again off the grays, don't know what to expect? It would obviously be conceived as good news, so most likely up. And with any news in waiting, and gold reaching a more favorable level, up again. All my opinion.
H L.J.:
First of all, I hope they don't raise interest rates. While we all know that there is inflation happening, interest rate hikes will probably cause another round of home foreclosures. I live in Florida and we are one the hardest hit. Most people here are upside down on their mortgage, on interest only mortgages, and with a raise in rates will just give up the ship. Unemployment here is much higher than what's on the books.
Higher interest rates, IMO, have a short term negative effect on gold and the stock market.
Masher: whose twitter are you following? Is it USAU's?
Thanks
I like your confidence. Your opinion is a bit of a reversal from a couple months ago. I guess you must have had a good discussion with JP or maybe you've finally accumulated all the shares you wanted.
This definitely has a lot more going for it than Big Bear Mining(BGBR) which just shot up due to profesional pumping. It's market cap went over $200 million, now probably at $140 million.
USAU, with a market cap of $200 million and say as a high guess of 400 million shares, would be 0.50 pps. That would be nice. But lots of hurdles to jump over. And lots of resistance with this many outstanding shares.
Do you really think news will come out before SEC trading approval is given?
I am also still here. What is there to say during this quiet period other than you have to keep the faith. Masher, You would be correct, that if USAU becomes fully reporting, it can be taken not only off the gray sheets, but also off the pink sheets.
And, with JP now involved with the Sunshine mine project, and gold testing the $1165 threshhold, more logs on being thrown on the fire. Once trading again, there is a lot of fuel here.
1) Get trading and shareholders get informed about share count, etc.
2) Gold breaks thru current resistance and approaches new highs
3) Gold mining commencement announcement on current USAU properties.
4) Sunshine mine gets turned back into Mori's hands and JP gets USAU involved with this rich silver mine.
I really believe we could be heading into a perfect positive storm here. Even if the first three happen, we would be looking good. The fourth would be a huge bonus.
On the negative side, if we don't get off the grays, were screwed.
I always want to point out the negatives.
Sorry but this company reminds me of Bob Hope's Brother.
No Hope.
Actually, all the action has been on the busy yahoo board.
masher, who are you over there? I'm stadbags.
And Aguam, who are you over there?
The phone calls are happening. Whether you think of them as pumps or not, is your opinion. I think the phone conversation I had with JP was reassuring. While he couldn't give any SEC update, there was a confidence that USAU would be trading regularly again near term.
Also, it seems like he has lined up a lot of ducks, and despite the set-back of the SEC, things are proceeding well.
Again, this is just my opinion. JP does have a gift of gab, and if he backs up what he is saying, we are in for one hell of a ride.
I honestly could see this at 0.30 with good news on four fronts: the SEC, rising gold prices, production start, and earnings projections. I'm not sure, masher, if you were just being sarcastic with that number, but with a slew of good news, and momo players coming in, it is not that crazy.
I am curious on who is dumping a million shares a day, and why?
You know, I really don't like to criticize anyone, and rather be a team player. I understand that everyone who has invested recently is losing money, and fsail and masher just need to constantly vent. Sometimes the motive is to buy cheaper shares.
It is what it is.
I'm not pumping, but actually think a buying opportunity arises when most are selling. It may not pan out in this case, but I think JP has a lot of credibility to lose if this goes under. From what I understand he has a lot of friends and family invested here. Maybe that is all horsecrap, too.
I think gold has a bit of a retracement to go before it reaches new highs. This does give USAU management a little more time to get their act together. The magic number for gold as stated was $1165. I'm not exactly sure why JP used that number, but he did. Probably goes under $1000 before it goes back up. But no crystal ball here.
In these trying times, when JP makes predictions, and gets investors to invest can prove dangerous if the company quickly goes belly-up. I would think he would have to hide in a cave on the newly acquired property.
I still feel if and when gold has its day, so will USAU. Just my opinion.
Actually, on Ameritrade, I typed in a bogus order to see the bid and ask, and I saw at 3:45 PM a bid of 0.0065 and an ask of 0.0075. Obviously, nothing happened at either price point.
cp:
good to see you here.
I'm stadbags from yahoo. Not saying much because, what is there to say? We have to wait.
Personally, I see this as a buying opportunity, but only my opinion.
I am happy to see another person on this board who actually can separate a paragraph, and has gone beyond fourth grade vocabulary. I can't read some of the other posts because they are too tedious. I'm not the smartest person in the world, but I will not waste my time unscrambling jibberish.
Personally, I think this company will succeed. If it fails quickly, which makes no practical sense to me, the parties responsible would be considered major criminals in many minds and probably would be in danger. I've owned a small bar, and if I blantantly ripped off a ton of customers, I would not be typing this message now.
I've been working full time and wish I could have accumulated at 0.003.
tt:
Alright, you already said you ate crow twice. Let's move on. Don't be like Tiger who said "Ho" 18 times before he moved on.
My opinion is that JPerez will do what is neccesary to get and keep the stock trading, which he did. Hindsight 20/20.
But I don't think it is his top priority right away to get off the pink sheets. The company doesn't have a ton of money, and they need to pennypinch. The OTC market is even more expensive than the pink sheets. And every PR costs money, so they are being money conscience.
I personally don't care what 2006-2009 SEC reports contain. All I want to know about the company is about the present and future:
Share structure
DEBT
How the officers are being paid
True assessment of current assets
Share dilution potential
Near-future mining plans and partnerships
etc.
And the good thing about telling us this, is a PR really isn't neccesary. All they have to do is keep their web-site up to date with the answers to these questions, which would save money.
Still, this is an extremely speculative stock.
And another good thing about this company is that it has only been only pumped from within. Most of the investors to this day know of or have talked to JP. It isn't like they hired all the pennystock firms to help in a pump and dump. When that happpens, that is the time to use the pump and get out.
masher: we know what needs to happen. You've harped on it a hundred times. Why don't you let your husband start posting.
tt: While some see you as a basher, I appreciate your candidness. Being a small shareholder who has been slowly accumulating until the halting, I agree that it is now crunch-time for management. Without action very soon, it will all be over. The fact you have received an email reply is somewhat encouraging. I agree that JP reads the message boards and its time for serious action.
My assessment of JP was good overall, but I still had my skeptism. Everything the posters here have shared has also been relayed to me during a phone conversation. He also claims that his friends and family have bought a ton of shares. If this is true, then there is even more motivation to succeed.
JP said that the action will really start once gold breaks $1165. Well, it seem we have to learn to crawl before we even think about walking or running.
I view this speculative investment as a one-year+ kind of hold. Unless of course: A) we never trade again and we lose all or B) gold prices explode and somehow this stock moves sharply higher very suddenly.
Even with this very large "red flag" now looming, I still have a good gut feeling about USAU.