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There are more than enough bag holders on the PACM board to hold the fort down. Besides, there isn't a whole lot of activity over there. If there's going to be any action, it will be on this board. The primary scammer is Rob not Mitch. Mitch has been largely out of the picture for the last year or two. Take a look at the percentages owned in the last 10K. Mitch owns less than 1%, The majority of shares are owned by VWAPing Blood Suckers. \V/_
You're probably right. \V/_
Doesn't seem to be working very well with PACM not much action there. PCFG will be where the action is if there is any. \V/_
Lot of refugees from PCFG here. What's with the uptick today? \V/_
The 10K has a bunch of interesting tidbits. Rob and Mitch now control only 3.5% of the company. Asher Enterprises, Magna Group, and Iconic Holdings own 9.9% each of the company. Asher and Magna have their own boards on IHUB--both are toxic financiers. Iconic Holdings looks like a storefront holding company out of Brooklyn with 2 employees and $120,000 in assets-- probably a wanna be toxic financier. What do you want to bet that we'll see another preferred share issue to Rob before the stockholders' meeting?
Also interesting are the $14,513 and $126,237 paid for advertising in 2013 and 2012. That's a lot of money for paid posters. They sure won't going to trade shows to demonstrate their expertise.
Further-- unpaid insurance and equipment rental lawsuits for $15,000 and $56,000 and $7,500 MSHA Fines
At this point it would be pointless to go into any comprehensive debt analysis. It just isn't worth the effort. Let suffice to say that it just sucks. \V/_
This bunch has 9.9% PCFG OTCBB now. It needs to be added to the list. \V/_
Oops, forgot a zero. Wrote that before the morning coffee. \V/_
Link? \V/_
The truth of the matter is that they didn't raise that much money. With the share price tanked the way it is they can't raise enough capital to meet current expenses. They've already defaulted on several notes and are using discounted shares(VWAP) to pay off some of their bad debt which only adds insult to injury. At this point bankruptcy is about the only viable alternative. Watch what happens in the next several months. Rob will sell off the notes that he and his shell company hold at steeply discounted rates. And once he is clear of that burden it will be off to bankruptcy court. The level of debt they're carrying is just too heavy. The had $2,020 cash at the start of the year. At the current share price of $.0004 one billion shares would yield $40,000. \V/_
I'm surprised that they got this out so soon as they did; a lot of little jewels in the the 10K. They now owe the IRS $300,000 which takes care of most of the payment for Project W. They list $75,000 in damage to the plant; wonder what that was all about? They're being sued by the insurance company and an equipment rental company. Just to name a few. \V/_
I hear that Robo foreclosed on the millionaires club's lease on his dumpster. \V/_
Thank you, very helpful. Nothing like dealing with factual information as opposed to conjecture and opinion--much appreciated. Doesn't Total have some association with block 1? \V/_
I thought there had already been three. \V/_
Long time no see. They'll blow it like they always do. \V/_
So what else is new? The only surprise is that they're filing it now rather than at the last minute. \V/_
It might be more productive to have those with actual deep water experience explain in more detail what the new technology actually is, how it works, and how it might effect the JDZ. The fact that the company at times doesn't communicate well is pretty well established and to spend endless posts arguing over it is childish and pointless. \V/_
You're probably right. The major scammer here is Rob. Mitch is pretty much out of the picture. It's Rob who invented the trick of loaning the company money then transferring it to a third party at a discounted rate thus recouping any risk of his losing any capital. Further, he owns the most shares and is the real puppet master in this little charade. Remember the Platro 15% cut of the Blackfire deal. Rob had an association with them early on and I suspect he's personally getting some of that 15% either directly or through kickbacks. I haven't seen any news that there has been any drilling on the Pacific Metals property which will have to be done if they're planning to sell it off. Rob is the real player here and Mitch at this point is a non entity. \V/_
We've been there enough times before. Nothing speaks more eloquently than facts. The only viable signs of life are the Blackfire deal and Pacific Metals; neither of which would provide enough capital to get BRCM up and running again. Bankruptcy, continued dilution, lack of capital, toxic financing are enough to eclipse any expectations. Given the current management, any chance of success is even less likely. Thank goodness gadflies are ephemeral--here today and gone tomorrow. \V/_
That seemed to happen more often than not. It will be interesting to see how the class of 2014 handles the next dilution. \V/_
Hey Bundy, the situation must be pretty bad when you don't even see the possibility of a quick profitable trading opportunity. Long time no see. Good to see you posting again. \V/_
Whatever happened to the proposed offering on the London Exchange? \V/_
Evening, Hink. I still follow both; probably as an act of penance and the cost of self delusion. It has been a learning experience. \V/_
My conjecture is that your post was deleted for a violation of the TOS rules. You'd do better if you attacked the argument rather than the person. All caps, bold type, underlining. red lettering lessens rather than adds to a poster's credence. One of Rob's old tricks is to lend the company money and then sell the note to a third party at a steep discount, pocketing the money at the company's expense. He got himself into some trouble last year when he'd so diluted the shares that he and Mitch no longer had a controlling interest and they had to delay the stockholders' meeting to issue themselves enough shares to retain a controlling interest. Since you pride yourself on your dd skills take a close look at the debt structure and the actual flow of money. As a matter of fact they issued more than the authorized shares to retain control. What sane investor would consider PCFG as an investment. Warren Buffet wouldn't have much to fear from you and your advice. \V/_
Thanks. Good analysis. \V/_
Good to see you're still around. \V/_
Do you find the following statement hilarious?
If you're one of the smart ones buying. wouldn't it be in your interest to not promote the stock so you could buy in at a lower cost? The numbers and logic that you cite are meaningless given the lack of substantive results. The fact that you're promoting the stock so heavily indicates that you're in this for the short term looking to make a quick profit. "Me thinks that he protests too much." \V/_
Interesting quote from our new expert from another board.
The behavior is suspicious; isn't it? Could it be there's an ulterior motive behind our new expert who's tracked the share price back to the good old Oregon Gold days? \V/_
Ok, your talking about the Oregon Gold fiasco which went south almost immediately after the peak. I have some difficulty fathoming your math. Where did the forty dollars come from. NRG recovered 132 ounces of gold and sold it for $105,853 which means they averaged $801.92 per ounce. It cost them approximately $587,000 (not including depreciation) to produce that amount of gold--hardly a profitable operation. In fact, their recovery rate decreased as they continued to process the ore. There is a proven record of managerial incompetence, prevarication and borderline fraud. No one is denying that there is a link between gold juniors and the spot price of gold. However, PCFG's track record precludes any substantive link to the spot price. The SEC nailed them on their claim of proven reserves and forced them to admit that there were indeed no proven reserves. I hope you appreciate the irony of your statement:
Your naivete is astounding and matched only by your inability to get your facts straight. The highest share price was $.08 in Aug 2011. Don't be fooled by the 3 year and five year IHUB charts which take into account the dilution and reverse splits. It's easiest to see on the three year chart which shows a share price of approximately $1.60 in Aug 2011. That is an adjusted share price indicating what share price would now be required to break even if you'd bought at $.08 in 2011. You state:
And we all know what floats to the top of a cesspool. Go back and take a look at the posts several years ago before PCFG fell from grace. There was a lot of talk about charts this and charts that. Also there was a considerable chatter about the share price and the price of gold. None of which had any bearing on what actually happened Share holders' investments were diluted and Vwapped out of existence. The loss of capital was staggering. PCFG is a lot like Dracula. You can shoot it with silver bullets, drive stakes through its heart and it rises again to suck the blood from a new set of supposed experts who harp on supposed market expertise and end up embittered and surly when their ill conceived concepts fail to bear fruit. The truth is given the current financial situation, little if any hope of profitable gold recovery and feckless self promoting management that there is little if any hope of PCFG ever making a go of it. Do yourself and us a favor and do a little more research. Those who do not know history are condemned to repeat it. \V/_
Apparently logic and grammar are not necessary requisites. Good answer; roflmao. \V/_
That may have been true a couple of years ago when the possibility of profitable recovery was high. As it stands now, their proven record of miserable, minuscule recovery rates stands as an immutable argument against any position that the share price is related to the current value of gold. You've got to have some gold to have a relationship. Over zealous cheer leading is usually an indication of a trader trying to dump shares based on the greater fool theory. Most long term posters woke up long ago and the smell ain't roses. Fifty thousand is chump change. Barrite prices may have a closer relationship to the share price than anything else. There is no long term investment opportunity here; just short term plays which may be taken advantage of if one possesses a crystal ball. The magic eight ball says, "No future with this dog." \V/_
Good to see that you and TJ are still around keeping things grounded. \V/_
We've heard this argument innumerabale times. By all means put your cash into a company that will dilute your investment into oblivion or wipe it out with a bankruptcy. Welcome to P. T. Barnum's class of 2014. \V/_
Please read my previous post more carefully. I didn't get screwed, but a lot of people did. Very few people have the skill set to time when to get in and get out with a stock like PCFG. If trading is your game, more power to you. However I think you'd have more fun losing your money at the crap tables in Vegas. As an investment PCFG just plain sucks. We've gone through a plethora of traders, chart gurus, etc. trying to boost the stock price to make a quick profit. At this point, no promotion could help this already dead cat. Anyone willing to put money into PCFG is either woefully ignorant or uninformed. \V/_
If you have indeed read my past posts, you''d be aware that I started out being very pro PCFG; however, nothing speaks more loudly than the miserable results produced. Due to a set of fortuitous circumstances which had absolutely nothing to do with stock trading acumen, I cashed in half of my holdings in the heady $.06 to $.08 range to meet some other financial obligations. All in all, I ended up slightly ahead of the game which was mostly a matter of luck as opposed to skill. As time passed and this board's dd accumulated and the miserable results continued to pour in, it became more and more apparent that all was not well with this operation. What really tipped the balance was when paid posters started showing up on the board. At that point what little credibility that Mitch and Rob had evaporated. They may have started out with good intentions, but that was gone when they became more interested in mining investors' pockets rather than gold. Currently they have no results, no viable source of capital, no proven reserves, an untested, unproven recovery process, an IRS Lien, unpaid Mine Safety fines, ad nauseum. Why do I continue to post? I've seen a number of people who I've grown to respect and admire lose a considerable chunk of change because they chose to believe rather than examine the actual facts. Before anyone invests in PCFG they'd be well advised to examine the enormous amount of investigative research that's available on this board.
Further, I hope that you're aware that it's virtually impossible for a small time investor like me to short a sub-penny stock. No ulterior, clandestine motives from this quarter. \V/_
For those who have been around for a while this may be old stuff, but the placer operation has never been proven to be viable with microscopic Carlan deposits. It depends on gravitational and centripital forces which may not be enough to overcome the molecular attractive forces of the very fine particles. There's a reason why the mine just down the road uses heap leaching in lieu of placer operations--it works. Even with the installation of the new concrete ponds, the recovery rate may not be sufficient to be profitable. Then of course there's the lack of any 43-101 and no plan for drilling to establish proven reserves. The only known reserves present on the property are the barrite deposits which they've leased out. Caveat Empor! \V/_
Perhaps our heads were not in the clouds, but in a well known part of the anatomy. Ah. for the heady days of the great debate over the geotubes. \V/_