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Your point is well made, but Alto management is looking for a clean shell, and regardless of posts made by others, Alto has good mining properties to trade for stock: The Excelsior Mine which has an NI43101 that addresses the property value and supporting data, and the Liver Peak molybdenum property near Thompson Falls, Montana, which was drilled by Noranda Mining, Inc, Bear Creek Mining company and ASARCO.
This post is not intended to promote Alto stock (which can no longer be publicly traded). It is simply intended to let the stock holders know that Alto management is working to increase the value of their interest in the company.
When appropriate, the details of these efforts will be posted on the Alto web page and stock holders of record notified. SEC regulations severely limit what can be discussed here. I hope you can respect my reluctance to go into any detail.
Posted by Doug McFarland, Alto CEO. As Alto CEO, I hold no stock and am paid a salary of $1/yr plus expenses (please refer to Alto to SEC filings for details).
Teck was a penny stock 20 yrs ago. They now own Cominco ( now TeckCominco), who I worked for. Grupo Mexico was a small company and now owns ASARCO. There are many more.
Stock options are used to attract competent managers when the company isn't in a position to pay cash. Nearly every large company listed on NYC, NASDAQ, TSX, etc. uses stock options to attract managers.
Your point is well taken. Regarding my post history: I try not to say too much because of potential problems with "insider information" and the SEC investigation. The last thing I need is to unknowingly make a legal slip up and have the SEC going after me.
Please check the Alto web site for the press release you are asking about and the 2008 NI43101 on the Excelsior. They are both there. Thank you.
The NI43101 is on the "Home Page" of the Alto web site.
The Alto legal counsel in the Philippines said that he hopes to close the deal on the gold mine, mill and refinery shortly. That should make a significant difference in our stock.
Jahred, I've never met Ken Denos or his wife and have no knowledge of any "inside deals" that may or may not have happened before I took over as CEO.
Regarding the Excelsior: We are posting a 2008 NI43101, this week, which was used as an exhibit an a law suit by NAOMI. It is exactly as it was provided to me by NAOMI legal counsel. Please feel free to contact the author to verify the content. His contact information is provided on our web page along with the NI43101.After you and the moderators have read it, I will be happy to answer you questions regarding its content.
Your Mamma is right. I spent a week with John Thomas in the Philippines and have every reason to believe that he is both honest and competent. I too do back ground checks, and before taking on this job for my $1/yr salary plus stock options, I asked both Chene Gardner and Ken Denos about their association with Mark Klok and was satisfied with their answer.
As you know, in our legal system all attorneys work for those who pay them . In addition, I'm sure that you also must know that attorneys, accountants, and other consultants like myself, have no way of forcing their clients to take their advice.
The press release is on the Alto web site.
Jahred, if you're that unhappy with the way things are being run, you might consider selling your stock, or applying for a position on the Alto Board. If you think that you could help, I'm sure the Board would like to listen to your ideas.
Feel free to run a background check on me anytime. I have nothing to hide.
If you really want to know if that is the Alto CFO in the photo, why don't you just ask him? The corporate number is 801 816-2500.
I'm guessing that you already own "a piece of the company"? Give me your e-mail address and I'll send you the pictures I took of the operation when I was there. The face they were mining is 2m (2 meters)wide. The sample collected by Jon Bently-Stevens assayed 245 g/metric ton (6+ oz/ton Au). It weighed 40kg (88lbs). Is all the rock they are mining that good? I have no idea.
Alto isn't buying into this small of an operation to sell stock, it is attempting to acquire an interest to increase production and generate operating capital. Regardless of what you may think of the Old Board and legal counsel, the New Board has excellent credentials, and can help the Philippine operation increase production. That's what this is about.
I understand how you feel. Unfortunately, that won't get you your money back. The company is working on a deal in the Philippines which will make an immediate cash flow when it closes and will increase the value of your stock.
I never met him! All of our business is done over the phone or by e-mail.
If you or other Alto stock holders have concerns with the actions the former management and/or their attorney and accountant, please take it up with the SEC. Those of us who do care about the stock shall continue to attempt to increase its value and that of the company.
Alto Group Holdings, Inc. is a Nevada Corporation. The limitations on revoking stock certificates; i.e.,those belonging to Klok,insiders and others, are found in the Nevada Revised Statues: http://www.leg.state.nv.us/NRS/.
We are waiting for the outcome of the SEC investigation. The SEC is the final authority on any stock held by Mark Klok and other "insiders".
The new management inherited a real mess. Here is what is being done to solve the problems:
1. The equipment in Mexico is being sold.
2. Alto is negotiating to purchase control of a small operating gold mine on the Island of Mindanao, using the funds from the sale of the equipment.
3. Alto will use the technical expertise and experience of its Directors to expand production at the mine, if successful in closing the deal.
The details regarding the mine and these negotiations are confidential and will be released to the public via Alto's web site, when the time is right, and in conformance with SEC regulations.
At that time Klok was running Alto out of Florida, living with another girlfriend. I don't recall the last name of either of his girl friends. One had lived in Puerto Rico, and moved to NY with her family. That was Amiliea (Emily). I never met the other.
I agree, it would be nice if Klok would turn in his certs, but they are only the tip of the iceberg.
I didn't know the amount, but I'm not surprised. He had a child with both of the women. He was living with the one in the Miami area, but took his "ex" from New York on the Guadalajara -Zacatecas trip.
I didn't know about this until a couple weeks ago, and wasn't told I'm told the amount of the fees paid. I was told that the CFO and others had complained to Mark about this but to no avail. CFO recently testified before the SEC about this and other issues.
I am told, that Mark would issue a note for services which was convertible to stock and when the note came due, he would have "a friend" buy the note from the note holder. Then, his friend could dump the stock on the market. It is highly probable that he made money on that type of an arrangement. It wouldn't surprise me if the money he took out of Alto is held in an off-shore account.
The one I met was Emily...lives in NY.
Options, salary, and other things: My salary is $1/yr. The only way I or the other "New" Alto Board members will make any money is if the value of the Alto stock increases. Stock options allow for the purchase of stock at a fixed price as of a given date. Therefore, if the stock option is granted today when the stock is .0004, those holding the option can buy stock at this price whenever they wish. Presumably, they would exercise their option when the stock is at a higher price. This is reasonable because the stock price will have increased as a direct result of their contribution to the company.
I hope that this helps clear up the option question.
See the 8-K filings. It's all there.
Ken Denos is not an employee, officer, or director of Alto Group Holdings.
NO.YOUR APPROACH IS NOT HELPING EITHER THE STOCK OR THE INVESTORS.
It obviously can't. I've been advised to stop posting on I Hub.
At this time I have no monetary investment in Alto! I have stock options, which will be exercised if, and only if the company and its stock do well. In other words, the only way I will make money is if the stockholders make money.
To be clear, "this didn't happen on my watch". There is NO conspiracy.
NO COMMENT. THIS DIDN'T HAPPEN ON MY WATCH!
OK. That's the first time I've seen that. I thought you might be interested in knowing that I gave one of the moderators a copy of the 2009 NI43101 on the Excelsior today. I'm sure that it will answer many questions regarding this project. It's not for public disclosure, but to put to rest the many allegations the moderators have made.
This post was made by Doug McFarland, CEO Alto Group Holdings, Inc. This poster does not own any common or convertible stock.
As Alto CEO, I will use whoever I feel is best qualified for the job for both legal advice and accounting. If either the accountant or attorney prove to be unfit, I will fire them as I did Robert Howie. This is my decision, not that of an autonomous stockholder, commentator, or poster on this board. Please respect this. Thank you.
This post is by Doug McFarland, CEO Alto Group Holdings, Inc. Mr. McFarland is not the owner of any common or convertible stock.
Please show me your math, How many shares at $0.0005?
Good news: The missing equipment was located today! It's being stored in a small village near La Cienega. We plan to sell it in Mexico. As was disclosed in the 8-Km Klok dropped the contract on La Cienega, so that book is closed. There is a potential for a large hard rock gold deposit there, but the placer deposits would't have supporedt the overhead when Klok was running things.
k Klok dropped the
The word Klok omitted from the press release is SMALL. There are several areas where a SMALL profitable placer operation can be developed. He hoped to mine the valley and that was a nonstarter.
Please check you math (085 ounce (troy) = 2.6437955 grams. The grade runs up to 1.25 opt Au over 10 ft sample widths, as per US BORAX AND WASHINGTON STATE DNR studies.
It's due to late filing.
There are 45 core holes and 60 RC holes. Fire assay was used. Most assay work was done by Bondar-Clegg in Vancouver,BC. It's a large lab with a good reputation.
The La Cienega thing was a lot of bull, and Klok may land in jail because of it. The mine in the Philippines is real. Alto doesn't own it but is trying to acquire it.
I can't discuss this.
The Philippines project is an operating gold mine and they are using hand tools to mine the property, no explosives, jack legs, mechanized equipment, or even a wheel borrow What we bring to the table is our experience in the mining business which, with a small capital investment, will enable the property to increase production by a factor of 10 to 100 in the first year, depending on logistics. I have seen the production records, had the working face sampled, and have seen the gold it produced.
The mine and surrounding ground is owned by an extended family on Mindanao. The operator, is mining on a concession which is actually owned by her cousin. It will have to be funded via a limited partnership or JV.
The list of officers and directors posted on this web page is incorrect. Current Alto management has been "cleaning house" and would greatly appreciate it if the moderators would post correct list of Directors and delete those no longer on the Board. The current Directors are: Dr. Paul Donaldson, Glen Zinn, Chene Gardner, and Doug McFarland. Thank you for taking care of this.
Metal prices were low at that time, between $300 and $600 per oz Au. The property is viable at the $600 Au price, but not at $300/oz Au. When the price fell, the companies dropped their lease and/or option on the Excelsior. Thank you for asking.