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SRGE - MSJ: That's where this all gets a little sticky. A little dicey. There was no valid agreement between bgl and MSJ. SRGE & MSJ had the agreement.
SRGE - It's time for BGL to move on and give up their fruitless and reckless pursuit of Cinco Minas.
SRGE/MSJ will then be able to develop Cinco Minas and provide jobs for the people in the area.
SRGE/MSJ have the rights to Cinco Minas. EarnestDD, If BGL had a case, this would have been resolved by now. They have spent over 5 years and millions and millions of dollars pursuing this matter. It's time to move on. Let it go.
Whoops, yes. GNCP is now a holding company. (You're right NMGL has always been one).
Let me try to simplify yesterdays update...and please correct me if I'm not understanding it correctly.
1. Company could not get financing under acceptable terms.
2. NMGL is now a Holding Company
3. Company is transferring each property it has rights to into separate companies that they have or will create. (This is what a lot of real estate investors do. If they own multiple apartment houses, they create a company/entity for each separate property they own)
4. Company acquired two other companies with positive cash flow that are not in the mining industry. This positive cash flow will provide the cash that they were trying to obtain through financing. We are supposed to get more info on this shortly.
Like I said....some of this may be wrong. If so, please correct me.
I'm confused-I thought update was going to have an effect on another public company. Wasn't that one of the reasons for the 2nd Quarter delay.
Were the companies they acquired (that have nothing to do with the mining sector) public companies? Or are they privately held?
More updates on the way?
Thank you, will do....I will hold and wait.
GNCP is now a holding company. (I thought NMGL was supposed to be the holding company).
Have they set up an entity (corporation) for each property so they can be more easily sold when the time is right?
For all of you that saw the content of that PR coming....Raise your Hands!!
Whoops, I don't see any hands raised.
I am stunned. Don't know whether the "reorganization" is good, don't know whether it is bad. I really don't know.
Not what I was expecting.
Great post, I agree. Here's a question to ponder........If SRGE is a scam, and MSJ does not own the rights to Cinco Minas, then who is BGL fighting in court over the rights to this mining property?
I'd hate to think that BGL has spent almost millions of dollars in legal expenses fighting with someone or something that does not exist.....lol
Yes, that is coming back to me now. I think it was a British Virgin Islands company. And, the $50 Million sounds correct.
I wonder if the technology they have/(had?) is now obsolete. It has been awhile.
I hope they have a plan. But you'll also notice on the The MacKay Group website.....TPID is mentioned...but SSTY is not.
I agree with you 100%. If they had any decency they would do what is in the best interests of the stockholders. We have heard nothing from them in years.
It's like watching a person about to drown throw away a life preserver you've just given them.
Or....they are waiting for a legal outcome before they comment. Simple.
I they don't have a plan for SSTY....then they are either stubborn arses or they are hiding something......imo
Because it appeared to me to be a Win-Win for everybody.
Yes. Have her do a show with Snoop! I'm serious, that would get some attention!
brucebill, thank you for the info. Goooooooooo Pot Network!!!!
Pmac3621, thanks very much. Looking forward to...what is it? Launch #3?? Don't intend to be sarcastic, I realize that they are starting from scratch and trying to achieve what we all want to see:
24 Hour site with some live broadcasting.
NMGL - I believe the delays in filing GNCP's Second Qtr (the reasons for which will soon be understood per Ted Blom) have something to do with NMGL.
We will see.
Don't like to sound ignorant...but, what I am missing here? I go to their site and it is a black screen saying that it's not ready yet.
Not that impressive to me: "New Site Coming Soon"
It appears to me that SRGE/MSJ/Novamex are waiting for BGL to stop their ridiculous (imo) legal pursuit of assets belonging to SRGE/MSJ.
I believe it is time for BGL to cut their already enormous losses in the legal fiasco and move on and try to salvage what they have left.
EarnestDD, a stock that trades on the Greys is not listed. Therefore, SRGE cannot be involved in a "delisting"...as you stated previously. That has already occurred.
Raven1pa, Thank you.
jakewhite, the last financial statement issued is garbage. It's wrong. It shows no activity by Potnetwork for the period 1/27/14 to 3/31/14.
As long as we get garbage, it's not easy to tell if shares are being given away.
Shorty........you are on the Clock. Today's update serves as your last warning.
Excellent update by Ted. Looking forward to next week to see what the transactions are!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I think we need to get to $.005 and then $.008 and then $.01 before we even consider talking about going to $.10.
Don't get me wrong, I would love to get to $.10.....but I also understand that I am living in a state of being called "Reality".
Trading nicely, like the volume. We'll hear from management soon imo. Looking forward to the 2nd Quarter filing!!
We should all take a look at Ted Blom's resume again. Or do some dd on him. He is a very very impressive guy with tremendous credentials.
We are not dealing with some clown. He will get this done for us.
There has to be a very good reason for the late filing.
We will see the filing this week imo.
We have been waiting for four years or so...so we are very patient investors (wow, that's an understatement).
I believe we are in great hands now and we should just continue our patience a little while longer and let the guys inform us when they can. (i.e.....Let me be more direct: I don't want to bug the guys while they are hopefully putting the finishing touches on this. I'm sure they will tell us what is happening when they can...that's just my two cents anyway...).
Good Luck everyone!
EarnestDD, take another stab at that math...
SRGE- Continues to trade nicely
Raven, I can't put into words my appreciation for your efforts.
Hope things continue to progress...
And, I Hope you had a great BBQ!!!
Go SSTY!!!!!!!!!!!!!!!!!! (or whatever name we will be known as in the future!)
ps...Looking forward to hearing from Nightmare...please thank him again for us
Bro, why are you so down on UTRM? Chris met with Fox last week in NYC and many think we are golden here........
Let Chris get off the NYC party-train, get his feet on the ground, relax with some cannabis and rest up for a humongous UTRM week next week!!!!!!!!!!!
I suggest you sell before it goes under $.002
Sir Robin1, very nice post. I agree up to a point. There have been some mistakes...And, I think the primary mistakes come from Chris S. over-promising that certain things would happen.
Was his little 5 minute "live streaming" thing back on May 20th what he said he would do? I don't think so. I think just about everybody here was expecting more.
When you over-promise and fail to deliver, you lose credibility.
Hopefully Chris can turn things around and nobody will remember or care about his stumbles so far.
Lots and lots of shareholders...don't know how many of them are "former" shareholders (they are "former" if they had their shares written-off).
Good luck to Jean-Gilles, RavenPa and all us current SSTY'ers!!!!
SSTY'ers are apparently going to get a new name!!
GNCP in now a Weak-Sister as far as Volume is concerned.