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Hoping the filing comes out this weekend along with the info on the other mines. We could have another little run like we did one Monday in January.
When and if the website is updated, it will likely create another small run.
The buyback...who knows. I doubt that will materialize into anything significant.
Beyond that the next targets will be when/if gold significantly rebounds and if/when any JVs are announced.
We could always hope Ted decides to convert his mine fields into pot fields. That is an instant winner.
So many impatient people...take a deep breath and stop freaking out.
Feb could bring higher gold prices and possibly start an uptrend. It will be interesting to see what China has in store as to whether it will be buying gold to back the Renminbi.
http://www.gold-eagle.com/article/gold-silver-update-7
http://www.gold-eagle.com/article/gold-backed-renminbi-yuan-looms-horizon
We can only hope...
Dude you are the most optimistic person on this board. From my perspective Ted is ALWAYS late. Getting the filings out today or tomorrow or next month. He is still late with no good reason. I don't care what is in the filings (in regards to preparing them), how much he, his board or lawyers have to prepare. In the end of the day he is still late. My perspective is reality.
I sure hope so but...
At this point I'd be surprised to see filings by the end of the month.
Get etrade...you can buy before it clears as long as you don't sell before the last trade clears. My old broker would tie up my cash and wait until it cleared before I could touch it.
Because you said you had an order @ .0003 for 7MIL (=$2100) on the bid for 24 hrs. Throw it on the ask for 5.25MIL @.0004. Or if you insist on 25MIL you can throw 10K at it.
Change it to 5.25M @ .0004 and call it a day.
Of course it is. Whatever the reason is it is being held down with the bidwhacks. But then again it has been rampant across the OTC. Go to the top ten posted boards and look at their L2s. You seem similar instances of what is happening here.
If you can't see someone manilpulated RENS and NMGL to where it is now then I don't know what to tell you. There is CLEARLY something fishy going on there. The volume is a joke on those two stocks. And if you think this is going to go up 1000% with no news then you are crazy. I know...I know...anything can happen. But lets be realistic here.
Isn't it the truth? I am just playing the game. That's why most people lose money in stocks (especially pinkies) because they can't see the big picture.
The big picture isn't making a million dollars...that is a pipe dream. Or I should say not making a million off of one trade. The big picture is taking a profit when you can, every time you can. If you don't have the willpower to do that you will lose money. It isn't rocket science...some people are just greedy.
Well except for the bidwhacker selling their 3's.
At least they are getting the financials prepared and presumably filed. Most pinkies can't say that. Is it worrisome...sure. Do I really care...it is a pinky so, no I do not. The risk is pretty big when dealing with any pinky. This will run whether the CEO is legit or not.
The question is can people get out at the right time to turn a profit. And there are the suckers that will buy at the top. But who really buys at the top in a pinky? The only reason I can think of is you are already vested and averaging up to keep the pps up...keeping the run going. Don't anyone take this personally because I was in this boat at one time as well. Only amateurs buy in (as in their first buy in that stock) on a run...the gamble is too great to know how far it will run. Buy low...sell high.
With all that said we still need amateurs to make money. Because if they don't buy our stock near the top of the run then we don't make money.
Yup 3's are gone. My .0004 order was filled.
Or insert [positive speculation]...
I like all the positive speculation but that is what all it is. Sometimes the positive speculation is as bad as the shorts. It is what it is.
Yes that is correct. To maximize the allowable 20% buyback of the total o/s they would have to buyback at .0006 to get all 1.24 billion shares. At least with the current share structure.
Max of 20% of o/s can be bought back per filing. That equals 1.24 billion with the current SS.
This article is enlightening on buybacks.
http://www.journalofaccountancy.com/Issues/1999/May/mccarthy.htm
Even if a board of directors authorizes the immediate launch of a buyback program, the rules covering the timing of purchases around major developments within the company may cause the CFO to delay implementing it. "We advise the company not to conduct a program at all if there is any material inside information that the company is aware of that has not been publicly disclosed," says Jayne M. Donegan, a corporate and securities-law attorney with Brown, Rudnick, Freed & Gesmer in Providence, Rhode Island. "For example, if the company is in merger negotiations or it knows the earnings but those earnings haven't been released, the company should not be out purchasing its stock."
To address potential insider trading, many companies inform their brokers that they may be required to suspend on short notice purchases authorized as part of an ongoing repurchase program. In fact, many companies apply the same "blackout period"—forbidding all trades—to corporate repurchases as they do for insider stock purchases by individuals. For example, a company may decide not to trade during a period that extends from 10 days before through two days after any earnings release.
It seems as if a company can do a buyback with news/filings etc. being released as long as they suspend the buyback during that time.
From GNCP filings:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=115366
2. The amount authorized to be repurchased:
The share repurchase shall consist of no more than 20% of the issued and outstanding shares of common stock in the Corporation as may be in issuance from time to time. No other classes of securities are affected by the share repurchase. The total amount to be utilized will not exceed the amount of $750,000.
This calculates out to 1.24 billion shares but can change depending on the total issued and outstanding shares.
3. The estimated time period for when the purchases are anticipated to occur:
The Corporation may repurchase common stock of the Corporation pursuant to the authority granted in the unanimous Directors’ Resolution for a period of one year from the date hereof.
So they have a year to complete the buyback.
4. The manner in which the shares will be repurchased and the Corporation’s plans with respect to the deposition of the shares once repurchased:
The purchase price upon repurchase not exceed any outstanding option or redemption
values.
All share repurchases shall be conducted in an open market. No off-market transactions shall be used to effectuate the repurchase of shares of the common stock of the Corporation.
The Board of Directors of the Corporation may in its sole discretion elect to retire any and/or all repurchased shares from time to time. Any shares not retired may be retained as treasury shares or used for any other valid corporate purpose.
Sounds like they worded it so they have the option to buy the shares then sell them back into the market if they choose to do so. IMO this would pay down debt so long as they do this when the PPS is higher and they do not dillute while doing so.
SALIENT POINTS FROM DIRECTORS’ UNANIMOUS RESOLUTION:
Having given due consideration, the directors unanimously consent and agree that the repurchase is desirable and is in the best interest of the Corporation and its shareholders. Accordingly, we do hereby unanimously consent to the proposed share repurchase in accordance with the articles and bylaws of the Corporation, Delaware state law and relevant federal rules and regulations, including relevant securities laws. The board of directors unanimously decided that:
So everything I have posted about being within the guidelines of SEC and buyback should be followed...at least according to this paragraph.
That or they announce news at some other point in the future so it isn't associated with the buy back.
Dude it is in the posts somewhere. A week or two ago. With all the shorts in here posting crap it'd take me forever to sort through it all.
That wasn't my point. My point is a JV is a BIG deal. It is news that will bring new investors/whales into GNCP. If GNCP buys back XXX million shares just prior to announcing a JV then that is against the rules IMO. That is all I am saying.
People keep saying news is imminent. The news was the buyback. The next thing on the table is the annual filing. If all is well there then we finish the buyback and THEN we can anticipate news. Everyone seems to think this JV announcement will happen today or tomorrow when in reality we are probably months away from that being announced. How about we take this one step at a time and analyze the annual filing. Then we can worry about the buyback and future operations such as JV(s) etc.
It was hinted at in an email.
I am not arguing. I am simply stating IMO <--- per SEC rules companies can get into trouble if they do a buyback knowing they are for example about to announce a JV.
How is that out of context? The filing is coming out...that isn't news, it is required to keep current with OTC. I am simply saying IMO if the company wants to stay out of hot water news will not be released until the buyback is complete. Seems logical to me.
I understand the company wanting to buy as low as possible in order to get as many shares as possible. But buying on the bid only suppresses this stock even more. Logically speaking wouldn't Ted want to buy on the ask to drive the PPS up in the interest of its shareholders?
I was about to post this same link. I found this entry interesting in regards to news.
STOCK REPURCHASE PROGRAMS CAN POSE PROBLEMS for financial executives because they may raise concerns at the SEC about insider information and stock manipulation.
IF THE COMPANY HAS MATERIAL INFORMATION that has not been made public it should not buy back stock.
IMO there will be no news of significant value until the buyback is complete.
I agree...I was just stating the facts for anyone that was expecting the filing before market open.
I agree Ted's resume is about as good as it gets but Lowenthal has a spotty record. Luckily for GNCP Ted's colorful career makes Lowenthal's shortcomings seem not so bad. If Lowenthal was CEO/President there would be cause for concern.
I doubt it will be out before market open. I wouldn't be surprised if we don't see it until after market close. I am sure there will be a PR out soon or around 2:00 PM EST stating he is sorry for the delay. We are waiting for our attorney to finalize the paperwork before we can release the filing.
I am not knocking Ted, I like him...but he kinda has a track record of being late. With that said I am looking forward to the filing!!!
Bauman sucks too. And everyone is forgetting about the lawyer, Alex R. Stavrou. He has a dirty history too. There are ties between Stavrou and Securus Law Group, P.A. Securus Law Group is affiliated with attorney Craig Huffman who was banned by the SEC.
What I was thinking of was the last saved by field will be the current logged in user. The author will remain the same. Except I know at work licenses are distributed per person so you are essentially the owner and will save it as such although it is a work computer.
I stand corrected you are right when you said whoever registered the Microsoft product will be the author of the Microsoft document.
With that said Lumb had to have either given the old company PC to Lowenthal and Ted or it is a template. Or Ted/Lowenthal are Lumb...which I do not really want to believe.
And typically whoever registers the Microsoft product owns the computer. I know I don't go around installing $300+ software on just anyone's PC.
I found his name on at least 3 documents. All exactly the same.
The author is tied to the current user of the computer. There are three ways this could have happened. At least off the top of my head.
1. The document was authored using a computer registered in Lumb's name. For example, his old business PC that was kept within the company. So every time you save a document it saves it as the user/owner...Lumb.
2. The original word document was authored by Lumb and as such will carry his digital signature forward until it is manually changed or a new document is created. I have done this several times where I took someone else's template and saved over it as my own. Even though I saved it the document will have the original author's name on it. If you have any word docs from work on your PC you can check them out. If you go to properties you will clearly see either your work login username is in the author spot or the person that originally made it is there.
3. Lumb is the author. And as stated by nodummy back in 2011 Lumb is the behind the scenes guru running the admin side of things.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69957001
Dude save it to your desktop then go to properties. I checked and the 8-10 I pulled up all have sclumb as the author. It is a fact.
After reading other posts about the whole sclumb author on the .pdf I started checking over the documents on OTC.
Does anyone else think it is odd that Lowenthal's signature is exactly the same on every document he signs? I don't mean similar...but exactly the same. I am not trying to add to the conspiracy theory here. And I have nothing to gain by pointing this out as I own shares here. I found his signature on about 6 or so documents. After looking back over them Ted's signatures are exactly the same as well.
They could just be lazy or don't know how to use a scanner/digital sender. It seems like more work to cut and paste a signature into a word document. And if they were using a scanner or digital sender they could wet sign it and turn it into a digital copy.
I do not know what to think of this. One has to think that these documents could be altered and or forged. Copying and pasting your signature into a word document (if that is what they did) definitely discredits the authenticity of the document being signed.
Latest:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=115367
One of the first signed in 2011:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=67857
A few others:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=112685
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=112686
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=112684
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=111872
Most logical thing I have read so far. We all know the company does not have money to give to investors. BUT if they sell a property they would have money to do that...and that equals two corporate actions.