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Ya....A scam perpetrated by who....Wells Fargo lost a lot because they were scamming people with CMKX....The next judgement should be interesting on top of what has already been collected. Wells Fargo did not cave in and had to pay a settlement to CMKX...the bashers are saying that the old management were crooks yet the settlement shows otherwise...especially the one the size of Wells Fargo.....This is going to get interesting especially with the corporate treasury now...a lot of players would be interested in obtaining some of that money along with a large shareholder base...this looks very good to me. Private shares could be obtained with transfers at the Transfer Agent at .0025....the shorter's should jump at it now before trading starts with the oil business with all the money going to be used for it.....but this is just the beginning....the other stuff from the spin-offs have yet to take place....Lets see what the covering is once that trading starts.
CMKX won a multi million dollar judgement against Wells Fargo...you guys turned out to be full of shit....a bunch of crooks....
honey and her gang are having a hard time believing they were played...in re this stock its only the beginning...lets see if GNCP, FFGO and the rest turn out the same way...its looks like they were to me as well....you were right 7-10-11....thanx for all your help....you're doing a far better job then honey and her gang....
Thanx Everyone...
I'm sure that Bill Frizzel is thanking you for keeping up the pressure on Wells Fargo and others for the multi-million dollar settlement Bill Frizzel got for working out the settlement with Wells Fargo. Bill Frizzel that got 1/3 of the settlement and Steve Kirkpatrick that got the 2/3rds of the multi-million dollar settlement earned a lot with your help. Special thanx to honey and her group for helping out....u got played.....
It looks like .10 cents a share to start perhaps....we shall see....but the bashers are a bit upset right now especially with the millions in the Wells Fargo settlement going to the company....tonocs PalTalk meeting should be interesting. We shall see......
ToNoc PalTalk
1. Download Paltalk Messenger (free download).
2. Look under “Business and Finance” rooms and under the subheading “Investments”.
3. When the room is open you will see the name New Horizons Holdings, Inc
.
4. Click on the room to join the meeting.
5. You can also use the URL express/paltalk.com/index.html?gid=1542973241 to join the meeting.
Wells Fargo legal suit settled to the benefit of CMKX and tax forms released....tonight's webinar should be interesting at PalTalk.
fung....and you didn't know that honey works for the shorter's....
Wells Fargo Settles with CMKX
Big NDA in place.....more to come
SEC Charges Stock-Based Lender With Selling Billions of Penny Stock Shares as Unregistered Broker-Dealer
FOR IMMEDIATE RELEASE
2015-18
Washington D.C., Jan. 29, 2015 — The Securities and Exchange Commission today charged a Chicago-area company that provides stock loans using equities as collateral, its two co-founders, and its former chief operating officer with selling more than nine billion shares of penny stocks through purported stock-based loans, block trades, and other transactions without registering with the SEC as a broker-dealer as required under the federal securities laws.
International Capital Group (ICG) and the executives agreed to collectively pay more than $4.3 million to settle the SEC’s charges.
“By selling billions of shares of penny stock without registering with the SEC, ICG and its principals subverted core protections provided to investors by the broker-dealer registration provisions,” said David Glockner, Director of the SEC’s Chicago Regional Office.
According to the SEC’s order instituting a settled administrative proceeding against ICG, its co-founders Brian R. Nord and Larry Russell Jr., and its former COO Todd J. Bergeron, ICG presented itself as a stock-based lender. ICG systematically sold stock obtained as collateral for at least 149 stock-based loans, but failed to register with the SEC as a broker-dealer. On average, ICG began selling the collateral shares it received through each loan three days before closing and funding the loan, and completed the sale of all remaining shares within two weeks of receiving the stock. In many instances, ICG did not provide money to the customer until the stock had been sold in an amount sufficient to fund the loan. On several occasions, ICG also violated the securities registration provisions by distributing unregistered stock that it acquired from issuers or their affiliates. Nord, Russell, and Bergeron directed, authorized, or participated in these transactions.
The SEC’s order finds that ICG violated Section 5 of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934. The order finds that Nord, Russell, and Bergeron violated Section 5 of the Securities Act and aided and abetted and caused ICG’s violations of Section 5 of the Securities Act and Section 15(a) of the Exchange Act. Without admitting or denying the findings, they agreed to cease and desist from committing or causing violations of these provisions. ICG, Nord, and Russell must pay $1,670,054 in disgorgement and prejudgment interest as well as penalties of $1.5 million, $300,000, and $250,000 respectively. They are barred from the securities industry and penny stock offerings for five years. Bergeron must pay $417,514 in disgorgement and prejudgment interest and a penalty of $150,000, and he is barred from the securities industry and penny stock offerings for three years.
The SEC’s investigation was conducted by Paul M. G. Helms and Jonathan I. Katz and supervised by Kathryn A. Pyszka in the Chicago Regional Office.
###
Today's news is totally outrageous. NBRI has lost investor confidence and will never be a success as the shareholders remember. The shareholders have been abused by the company and promoters of this stock. They lied, cheated and stole from the investing public. People have lost their retirement money like me because of these crooks. Beware getting involved with these criminals.
SEC Announces Charges Against Attorneys and Auditors in Microcap Scheme Involving Purported Mining Companies
FOR IMMEDIATE RELEASE
2015-9
Washington D.C., Jan. 15, 2015 — The Securities and Exchange Commission today announced charges against attorneys, auditors, and others allegedly involved in a microcap scheme the agency stifled last year when it suspended the registration statements of 20 purported mining companies being used for sham offerings of stock to investors.
The SEC Enforcement Division alleges that a Canada-based attorney and stock promoter named John Briner orchestrated the scheme, which entailed creating shell companies supposedly exploring mining activities. Briner had been suspended from practicing on behalf of entities regulated by the SEC, so he recruited clients and associates to become figurehead executive officers while he secretly controlled the companies from behind the scenes. The registration statements falsely stated that each CEO was solely running the company when in fact Briner was making all material decisions.
The SEC Enforcement Division further alleges that none of the companies had any intention of pursuing mining, and mineral claims purportedly owned by each company were never actually transferred to them. The registration statements falsely claimed that each company was capitalized by the CEO’s $30,000 purchase of issuer stock when in fact it was Briner who was funding the companies.
The SEC’s stop order proceedings last year enabled the subsequent suspension of the registration statements for the 20 microcap companies before any investors purchased the stocks, which were ripe for pump-and-dump schemes.
“Briner allegedly orchestrated a massive scheme to create public shell companies through false registration statements,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office. “Our action in this case proactively prevented Briner and his cohorts from carrying out the fraud to an extent that directly harmed investors.”
The SEC Enforcement Division alleges that several gatekeepers helped Briner perpetrate his scheme. They along with Briner are named in the order instituting a litigated administrative proceeding:
Colorado-based attorney Diane Dalmy allegedly provided opinion letters for 18 of the mining companies in which she falsely stated that she conducted an investigation of the companies’ stock issuance.
Nevada-based audit firm De Joya Griffith LLC and partners Arthur De Joya, Jason Griffith, Philip Zhang, and Chris Whetman were engaged by Briner for the purpose of auditing the financial statements of some of the mining companies. The audits they conducted were allegedly so deficient that they amounted to no audits at all, and they ignored red flags that Briner was engaging in fraud.
Texas-based audit firm M&K CPAS PLLC and partners Matt Manis, Jon Ridenour, and Ben Ortego were similarly engaged by Briner for the purpose of auditing the financial statements of some of the mining companies. The audits they conducted also were allegedly so deficient that they amounted to no audits at all, and they ignored red flags that Briner was engaging in fraud.
“Attorneys and auditors have a serious obligation as gatekeepers to protect the integrity of our markets, and the individuals we’ve charged in this case failed the investing public in their roles,” said Sanjay Wadhwa, Senior Associate Director for Enforcement in the SEC’s New York Regional Office.
The matter will be scheduled for a public hearing before an administrative law judge for proceedings to adjudicate the Enforcement Division’s allegations and determine what, if any, remedial actions are appropriate. The Enforcement Division alleges that Briner, Dalmy, and the auditors violated the antifraud provisions of the Securities Act of 1933 and that the auditors violated Rule 2-02(b)(1) of Regulation S-X and engaged in improper professional conduct under Rule 102(e) of the Commission’s Rules of Practice.
In separate orders instituting settled administrative proceedings, three of the figurehead CEOs installed by Briner agreed to settlements for their involvement in the scheme. Without admitting or denying the SEC’s findings, they each agreed to be barred from serving as an officer or director of a public company or from participating in penny stock offerings. They also agreed to give up money paid to them by Briner as “consulting” fees and pay additional penalties:
Stuart Carnie of Ocala, Fla., was installed as the purported sole CEO of three of the companies. He participated in the offerings of their securities and signed false and misleading registration statements. Carnie must pay disgorgement of $6,000 plus prejudgment interest of $337.85 and a penalty of $12,000 for a total of $18,337.85.
Charles Irizarry of Peoria, Ariz., was installed as the purported sole CEO of three of the companies. He participated in the offerings of their securities and signed false and misleading registration statements. Irizarry must pay disgorgement of $6,000 plus prejudgment interest of $337.85 and a penalty of $12,000 for a total of $18,337.85.
Wayne Middleton of Salt Lake City, Utah, was installed as the purported sole CEO of two of the companies. He participated in the offerings of their securities and signed false and misleading registration statements. Middleton must pay disgorgement of $4,000 plus prejudgment interest of $225.24 and a penalty of $8,000 for a total of $12,225.24.
The SEC’s investigation was conducted by Jason W. Sunshine, James Addison, and Lara Shalov Mehraban in the New York Regional Office, and the case was supervised by Sanjay Wadhwa. The litigation will be led by David Stoelting, Mr. Sunshine, and Jorge Tenreiro.
###
you are evil and going to hell when you die.....
unhappy thanksgiving to you and honey for all the money you 2 scammed out of me and others....you 2 are the ones that should be roasting instead of the turkeys....i hope you 2 die soon and rot in hell you criminals.
did u notice the 8K came out after the prer 14c that does not include the 5 fold increase of shares...double shit....we've been had....this stock will never succeed because it has lost shareholder support....never trust these guys again....this stock and those associated with it will be remembered by the investment community for what they did to the shareholders....bye
increase the number of authorized shares of our common stock from 1,500,000,000 shares to 7,500,000,000 shares.....SHIT
The writing is on the wall...buyback cancelled:
...the Company’s Management believes that it is illogical to expend any sums of monies on any future stock repurchases,
yeah, I should have turned toward you instead so you can do what you're so good at.......
You both disgust me...
like spit in a frying pan....market at all time high and getting better...gold dropping....time to get out of gold stocks...too little to late....
Bad 10Q....
File complaint here on NBRI:SEC Center for Complaints and Enforcement Tips
http://www.sec.gov/complaint.shtml
I lost all my retirement money listening to these criminals push this stock and then have my grandfathered status here on IHub removed because of these criminals...NBRI will never be a success....they screwed over the shareholders.......we remember.....stay away.....
whats going on with this stock...I show over 200M in trading.....
honey, can you and your associates look at GNCP. The PR put out today looks too good to be true.....
GNCC Capital, Inc. Provides Operational Update and Revenue Guidance
Print
Alert
Gncc Capital, Inc. (PC) (USOTC:GNCP)
Intraday Stock Chart
Today : Tuesday 4 November 2014
Click Here for more Gncc Capital, Inc. (PC) Charts.
GNCC Capital, Inc. (OTC:GNCP) (“The Company”) updates on its operations and provides revenue guidance on its operations as follows:
Gold Coast Gaming Corp (“Gold Coast”) subsidiary Revenues (Actual):
August, 2014: Actual Gross Gaming - $664,510
September, 2014: Actual Gross Gaming - $830,203
October, 2014: Actual Gross Gaming - $1,027,255
Revenues and profits for both August and September, 2014 will be accounted for in the Company’s financial year ended on September 30, 2014 as GNCC’s acquisition of Gold Coast was effective August 11, 2014. Gold Coast and its two operating subsidiary companies were profitable in these months, with their profits, revenues and gross gaming being higher than Management’s forecasts and they remain debt free.
Forward Guidance for this First Quarter ending December 31, 2014 in respect of Gold Coast:
October, 2014: Actual Gross Gaming - $1,027,255
November, 2014: Projected Gross Gaming: $1,078,000*
December, 2014: Projected Gross Gaming: $1,085,000*
*Excludes the anticipated acquisitions of two additional operating Arcades in this First Quarter ending December 31, 2014.
Gold Coast’s Management has raised both their Gross Gaming, Revenues and Profit Guidance for this First Quarter ending December 31, 2014; primarily due to seasonal increases for South Florida; and coupled with increased spend by Gold Coast on targeted advertising and promotions in both Arcades. Gold Coast, prior to any acquisitions, is forecasting Gross Gaming of $3,190,255 or this First Quarter ending December 31, 2014.
It is anticipated that Gold Coast will acquire an additional two Arcades in this quarter with similar revenues and profits to the two Arcades owned by Gold Coast. Should these acquisitions be consummated in this First Quarter, revised Gross Gaming, Revenues and profit guidance for this First Quarter, will be published.
NOTE: GNCC Management does not intend to publicly project the EBITDA projections from Gold Coast until they are expected to exceed an amount of $250,000 in any Fiscal Quarter.
Management Commentary on Gold Coast:-
GNCC’s Press Release dated August 12, 2014 stated that “At present, with its initial two operational sites, Gold Coast is expected to generate annual net revenues of $1.6 million and Annual Gross Gaming of $4,500,000.” This statement is hereby revised, as follows:-
“At present, with its initial two operational Arcades, Gold Coast is expected to generate Annual Gross Gaming in this fiscal year ending September 30, 2015, of $11,000,000, this excludes the impact of further acquisitions.”
Furthermore, this statement in that same Press Release dated August 12, 2014, “That Management expects that Gold Coast will own and operate no less than six such operations by October 31, 2014. This is expected to result in annual net revenues of $5 million and Gross Gaming of $15 million”; is hereby revised as follows:-
“Management expects that Gold Coast will own and operate no less than four such operations by December 31, 2014. This is expected to result in annual Gross Gaming of $22 million. The anticipated acquisition of two additional Gaming Arcades in the Second Quarter ending March 31, 2015, bringing the number of Arcades to six, is expected to result in annual Gross Gaming of $33 million.”
The Company’s rationale for the acquisition of Gold Coast and its strategy for Gold Coast remains as the expansion through the immediate term acquisitions of an additional four similar and well established gaming operations in South Florida and for cash. It is however anticipated that the Company will acquire two in the First Quarter ended December 31, 2014 and an additional two in the Second Quarter ended March 31, 2015. The Company has secured the requisite funding for these additional four immediate term acquisitions and will be issuing shares of the Company’s Series D Convertible Preferred Stock at a price of $1.00 each; in settlement of this funding.
Substantially more acquisitions by Gold Coast, post March 31, 2015 are planned and it is noted that the number of these acquisitions will be limited only by the Company’s ability to raise funds outside of its own retained cash earnings, as will be required to facilitate such further acquisitions.
It is GNCC’s policy that Gold Coast retain all of its operating profits and cash to assist in the funding of its acquisitions of additional Arcades; and as such, Gold Coast does not contribute to the funding of any other GNCC activities whatsoever.
Management Commentary on other GNCC Interests:
The Company acquired Reputation Managers, LLC (“RM”), effective on September 18, 2014. This Company is performing in line with RM Management’s forecasts and GNCC’s Management does not expect a material impact upon Group Revenues and profits from RM in this First Quarter ended December 31, 2014. RM remains profitable and is debt free.
Based upon RM Management’s forecasts, RM should begin to contribute increased revenues to GNCC’s Consolidated Revenues in the Second Quarter commencing January 1, 2015. RM should begin to contribute to GNCC’s Consolidated EBITDA only in the Third Quarter commencing April 1, 2015; due to noncash charges incurred by RM in this First Quarter ending December 31, 2014. RM is not expected to contribute in excess of $1 million in Gross Revenues for the fiscal year ended September 30, 2015. GNCC does not anticipate any cash contribution from RM to either GNCC directly or to the funding of any other GNCC activities in this fiscal year ending September 30, 2015. RM’s Management does not envisage making any “bolt on” acquisitions in this First Quarter ending December 31, 2014.
NOTE: GNCC Management does not intend to publicly project the EBITDA projections from RM until they are expected to exceed an amount of $150,000 per Fiscal Quarter.
The Company has no plans to expend funds on further Mining Exploration in this First Quarter ending December 31, 2014 and will continue to seek third party partnerships or Joint Ventures for this Division. GNCC Management does not expect to announce any such actions in this First Quarter ending December 31, 2014. Management is examining proposals which may well result in a restructuring of the Company’s Mining Exploration interests early in the Second Quarter commencing January 1, 2015.
Potential Additional Acquisitions:
GNCC is not, at this date, expecting to complete upon any additional acquisitions* in this First Quarter ending December 31, 2014.
*Excluding the anticipated acquisition of two additional Arcades in its Gold Coast subsidiary.
It is envisaged that the Company may well now only complete the proposed acquisition of the Index Related Futures Trading Business, early in the Second Quarter commencing January 1, 2015. At this date, GNCC is not envisaging any additional acquisitions in this First Quarter ending December, 2014 with the exception of two further acquisitions in its Gold Coast subsidiary.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Diversified Holding Company which at present has Revenue Generating, Cash Positive and Profitable subsidiary companies which are engaged in the owning and operation of Adult Social Gaming Arcades based in South Florida. Internet and Social Media Reputation Management Services operating from Carlsbad, California. The Company also has significant assets in Gold & Silver Mining Exploration in Arizona. GNCC Capital, Inc. is a Current Information Filer on the OTC Markets.
The Company’s most profitable assets, at this time, are our Adult Social Gaming Arcades in South Florida which are currently operating under our Gold Coast Gaming Corporation and as “Boardwalk Brothers” and ”Play It Again”. The Company is aggressively pursuing suitable acquisition targets in South Florida and in this Sector.
The Company also intends to continue to diversify into other Industry Sectors through acquisitions and as they present themselves; only upon our stated criteria.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
GNCC CAPITAL, INC.
Ronald Y Lowenthal, 702-951-9793
Executive Chairman
corporate@gncc-capital.com
or
Peter Voss, 702-951-9793
Chief Executive Officer
corporate@gncc-capital.com
or
Investor Relations:
investor@gncc-capital.com
www.gncc-capital.com
https://twitter.com/GNCCCapital
[We would be very appreciative if all investor questions be directed to this E mail address and not to our telephone voicemail until such time as we have appointed a dedicated Investors Relations Firm whom will deal with all telephonic enquiries]
honey, can you and your associates look at GNCP. The PR put out today looks too good to be true.....
GNCC Capital, Inc. Provides Operational Update and Revenue Guidance
Print
Alert
Gncc Capital, Inc. (PC) (USOTC:GNCP)
Intraday Stock Chart
Today : Tuesday 4 November 2014
Click Here for more Gncc Capital, Inc. (PC) Charts.
GNCC Capital, Inc. (OTC:GNCP) (“The Company”) updates on its operations and provides revenue guidance on its operations as follows:
Gold Coast Gaming Corp (“Gold Coast”) subsidiary Revenues (Actual):
August, 2014: Actual Gross Gaming - $664,510
September, 2014: Actual Gross Gaming - $830,203
October, 2014: Actual Gross Gaming - $1,027,255
Revenues and profits for both August and September, 2014 will be accounted for in the Company’s financial year ended on September 30, 2014 as GNCC’s acquisition of Gold Coast was effective August 11, 2014. Gold Coast and its two operating subsidiary companies were profitable in these months, with their profits, revenues and gross gaming being higher than Management’s forecasts and they remain debt free.
Forward Guidance for this First Quarter ending December 31, 2014 in respect of Gold Coast:
October, 2014: Actual Gross Gaming - $1,027,255
November, 2014: Projected Gross Gaming: $1,078,000*
December, 2014: Projected Gross Gaming: $1,085,000*
*Excludes the anticipated acquisitions of two additional operating Arcades in this First Quarter ending December 31, 2014.
Gold Coast’s Management has raised both their Gross Gaming, Revenues and Profit Guidance for this First Quarter ending December 31, 2014; primarily due to seasonal increases for South Florida; and coupled with increased spend by Gold Coast on targeted advertising and promotions in both Arcades. Gold Coast, prior to any acquisitions, is forecasting Gross Gaming of $3,190,255 or this First Quarter ending December 31, 2014.
It is anticipated that Gold Coast will acquire an additional two Arcades in this quarter with similar revenues and profits to the two Arcades owned by Gold Coast. Should these acquisitions be consummated in this First Quarter, revised Gross Gaming, Revenues and profit guidance for this First Quarter, will be published.
NOTE: GNCC Management does not intend to publicly project the EBITDA projections from Gold Coast until they are expected to exceed an amount of $250,000 in any Fiscal Quarter.
Management Commentary on Gold Coast:-
GNCC’s Press Release dated August 12, 2014 stated that “At present, with its initial two operational sites, Gold Coast is expected to generate annual net revenues of $1.6 million and Annual Gross Gaming of $4,500,000.” This statement is hereby revised, as follows:-
“At present, with its initial two operational Arcades, Gold Coast is expected to generate Annual Gross Gaming in this fiscal year ending September 30, 2015, of $11,000,000, this excludes the impact of further acquisitions.”
Furthermore, this statement in that same Press Release dated August 12, 2014, “That Management expects that Gold Coast will own and operate no less than six such operations by October 31, 2014. This is expected to result in annual net revenues of $5 million and Gross Gaming of $15 million”; is hereby revised as follows:-
“Management expects that Gold Coast will own and operate no less than four such operations by December 31, 2014. This is expected to result in annual Gross Gaming of $22 million. The anticipated acquisition of two additional Gaming Arcades in the Second Quarter ending March 31, 2015, bringing the number of Arcades to six, is expected to result in annual Gross Gaming of $33 million.”
The Company’s rationale for the acquisition of Gold Coast and its strategy for Gold Coast remains as the expansion through the immediate term acquisitions of an additional four similar and well established gaming operations in South Florida and for cash. It is however anticipated that the Company will acquire two in the First Quarter ended December 31, 2014 and an additional two in the Second Quarter ended March 31, 2015. The Company has secured the requisite funding for these additional four immediate term acquisitions and will be issuing shares of the Company’s Series D Convertible Preferred Stock at a price of $1.00 each; in settlement of this funding.
Substantially more acquisitions by Gold Coast, post March 31, 2015 are planned and it is noted that the number of these acquisitions will be limited only by the Company’s ability to raise funds outside of its own retained cash earnings, as will be required to facilitate such further acquisitions.
It is GNCC’s policy that Gold Coast retain all of its operating profits and cash to assist in the funding of its acquisitions of additional Arcades; and as such, Gold Coast does not contribute to the funding of any other GNCC activities whatsoever.
Management Commentary on other GNCC Interests:
The Company acquired Reputation Managers, LLC (“RM”), effective on September 18, 2014. This Company is performing in line with RM Management’s forecasts and GNCC’s Management does not expect a material impact upon Group Revenues and profits from RM in this First Quarter ended December 31, 2014. RM remains profitable and is debt free.
Based upon RM Management’s forecasts, RM should begin to contribute increased revenues to GNCC’s Consolidated Revenues in the Second Quarter commencing January 1, 2015. RM should begin to contribute to GNCC’s Consolidated EBITDA only in the Third Quarter commencing April 1, 2015; due to noncash charges incurred by RM in this First Quarter ending December 31, 2014. RM is not expected to contribute in excess of $1 million in Gross Revenues for the fiscal year ended September 30, 2015. GNCC does not anticipate any cash contribution from RM to either GNCC directly or to the funding of any other GNCC activities in this fiscal year ending September 30, 2015. RM’s Management does not envisage making any “bolt on” acquisitions in this First Quarter ending December 31, 2014.
NOTE: GNCC Management does not intend to publicly project the EBITDA projections from RM until they are expected to exceed an amount of $150,000 per Fiscal Quarter.
The Company has no plans to expend funds on further Mining Exploration in this First Quarter ending December 31, 2014 and will continue to seek third party partnerships or Joint Ventures for this Division. GNCC Management does not expect to announce any such actions in this First Quarter ending December 31, 2014. Management is examining proposals which may well result in a restructuring of the Company’s Mining Exploration interests early in the Second Quarter commencing January 1, 2015.
Potential Additional Acquisitions:
GNCC is not, at this date, expecting to complete upon any additional acquisitions* in this First Quarter ending December 31, 2014.
*Excluding the anticipated acquisition of two additional Arcades in its Gold Coast subsidiary.
It is envisaged that the Company may well now only complete the proposed acquisition of the Index Related Futures Trading Business, early in the Second Quarter commencing January 1, 2015. At this date, GNCC is not envisaging any additional acquisitions in this First Quarter ending December, 2014 with the exception of two further acquisitions in its Gold Coast subsidiary.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Diversified Holding Company which at present has Revenue Generating, Cash Positive and Profitable subsidiary companies which are engaged in the owning and operation of Adult Social Gaming Arcades based in South Florida. Internet and Social Media Reputation Management Services operating from Carlsbad, California. The Company also has significant assets in Gold & Silver Mining Exploration in Arizona. GNCC Capital, Inc. is a Current Information Filer on the OTC Markets.
The Company’s most profitable assets, at this time, are our Adult Social Gaming Arcades in South Florida which are currently operating under our Gold Coast Gaming Corporation and as “Boardwalk Brothers” and ”Play It Again”. The Company is aggressively pursuing suitable acquisition targets in South Florida and in this Sector.
The Company also intends to continue to diversify into other Industry Sectors through acquisitions and as they present themselves; only upon our stated criteria.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
GNCC CAPITAL, INC.
Ronald Y Lowenthal, 702-951-9793
Executive Chairman
corporate@gncc-capital.com
or
Peter Voss, 702-951-9793
Chief Executive Officer
corporate@gncc-capital.com
or
Investor Relations:
investor@gncc-capital.com
www.gncc-capital.com
https://twitter.com/GNCCCapital
[We would be very appreciative if all investor questions be directed to this E mail address and not to our telephone voicemail until such time as we have appointed a dedicated Investors Relations Firm whom will deal with all telephonic enquiries]
It looks too good to be true.......
BUSHWA...
sell volume 85.5 million buy only a little over 2 million....get real....we got screwed....
OMG-More dilution today:
NOTICE IS HEREBY GIVEN that the board of directors of North Bay Resources Inc., a Delaware corporation (which we refer to in this Notice as the “Company,” “we,” “us” or “our”), has approved, and the holders of a majority of the voting power of our outstanding capital stock have executed a Written Consent and Action of Stockholders in Lieu of a Meeting approving an amendment to our Certificate of Incorporation to increase the number of authorized shares of our common stock from 1,500,000,000 shares to 7,500,000,000 shares, and to decrease the par value of our common stock from $0.0001 per share to $0.00001 per share.
FINRA, SEC Warn Investors About Penny Stock Scams Hyping Dormant Shell Companies
WASHINGTON—The Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission's (SEC) Office of Investor Education and Advocacy today issued an alert warning investors that some penny stocks being aggressively promoted as great investment opportunities may in fact be stocks of dormant shell companies with little to no business operations. The investor alert provides tips to avoid pump-and-dump schemes in which fraudsters deliberately buy shares of very low-priced, thinly traded stocks and then spread false or misleading information to pump up the price. The fraudsters then dump their shares, causing the prices to drop and leaving investors with worthless or nearly worthless shares of stock. Gerri Walsh, FINRA's Senior Vice President for Investor Education, said, "Investors should be on the lookout for press releases, tweets or posts aggressively promoting companies poised for explosive growth because of their 'hot' new product. In reality, the company may be a shell, and the people behind the touts may be pump-and-dump scammers looking to lighten your wallet." "Fraudsters continue to try to use dormant shell company scams to manipulate stock prices to the detriment of everyday investors," said Lori J. Schock, Director of the SEC's Office of Investor Education and Advocacy. "Before investing in any company, investors should always remember to check out the company thoroughly." The investor alert highlights five tips to help investors avoid scams involving dormant shell companies: Research whether the company has been dormant—and brought back to life. You can search the company name or trading symbol in the SEC's EDGAR database to see when the company may have last filed periodic reports. Know where the stock trades. Most stock pump-and-dump schemes involve stocks that do not trade on The NASDAQ Stock Market, the New York Stock Exchange or other registered national securities exchanges. Be wary of frequent changes to a company's name or business focus. Name changes and the potential for manipulation often go hand in hand. Check for mammoth reverse splits. A dormant shell company might carry out a 1-for-20,000 or even 1-for-50,000 reverse split. Know that "Q" is for caution. A stock symbol with a fifth letter "Q" at the end denotes that the company has filed for bankruptcy. FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business—from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our website at www.finra.org. For Release: Contacts: October 30, 2014 George Smaragdis (202) 728-8988 Nancy Condon (202) 728-8379
no one is talking about all those convertibles filed yesterday....its not going to matter if the Ruby is spun off...what are they going to do...spin off all the mine shafts...we got screwed....this stock has lost investor confidence...it will not matter what they do....it will never be a success...
More convertible debt 8K just filed.....
Current Report Filing (8-k)
Print
Alert
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 24, 2014
NORTH BAY RESOURCES INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-54213
(Commission File Number)
83-0402389
(IRS Employer Identification No.)
2120 Bethel Road
Lansdale, Pennsylvania 19446
(Address of principal executive offices and Zip Code)
(215) 661-1100
Registrant's telephone number, including area code
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Information included in this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This information may involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections included in these forward-looking statements will come to pass. The Company’s actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.
Item 3.02 Unregistered Sales of Equity Securities
On October 24, 2014, the Registrant accepted a conversion notice from Union Capital LLC ("Union") to partially satisfy a $33,000 Convertible Promissory Note Agreement ("the Union Note") dated March 13, 2014 with Union. 12,944,912 shares were issued to satisfy $5,138 of the outstanding principal and interest. In accordance with the terms of the Union Note the shares were issued at a price equal to 70% of the arithmetic average of the two (2) lowest VWAPs of the shares of Common Stock during the twenty five (25) consecutive Trading Day period immediately preceding the date of conversion. As of the date of this report the remaining amount currently outstanding on the Union Note, including accrued interest, is now $10,000.
On October 27, 2014, and October 30, 2014, the Registrant accepted conversion notices from JMJ Financial, ("JMJ") to partially satisfy a $550,000 Promissory Note ("the Note") dated July 11, 2012 with JMJ. An aggregate of 43,700,000 shares were issued to satisfy $13,325 of the outstanding principal and interest. In accordance with the terms of the JMJ Note the shares were issued at prices equal to 70% of the average of the two lowest closing prices of our common stock in the 25 trading days immediately preceding the conversion notice dates. As of the date of this report the remaining amount currently outstanding on the JMJ Note, including accrued interest, is now $85,897
On October 27, 2014, the Registrant accepted a conversion notice from GEL Properties, LLC ("GEL") to partially satisfy a $55,000 Convertible Promissory Note Agreement ("the GEL Note") dated January 31, 2014 with GEL. 8,193,498 shares were issued to satisfy $3,327 of the outstanding principal and interest. In accordance with the terms of the GEL Note the shares were issued at a price equal to 70% of the arithmetic average of the two (2) lowest VWAPs of the shares of Common Stock during the twenty five (25) consecutive Trading Day period immediately preceding the date of conversion. As of the date of this report the remaining amount currently outstanding on the GEL Note, including accrued interest, is now $6,173.
On October 28, 2014, and October 30, 2014, the Registrant accepted conversion notices from Beaufort Capital Partners LLC ("Beaufort") to partially satisfy a $55,000 Convertible Promissory Note Agreement ("the Beaufort Note") dated March 27, 2014 with Beaufort. An aggregate of 33,826,190 shares were issued to satisfy $11,107 of the outstanding principal and interest. In accordance with the terms of the Beaufort Note the shares were issued at a price equal to 70% of the arithmetic average of the two (2) lowest VWAPs of the shares of Common Stock during the twenty five (25) consecutive Trading Day period immediately preceding the date of conversion. As of the date of this report the remaining amount currently outstanding on the Beaufort Note, including accrued interest, is now $12,073.
On October 29, 2014, the Registrant accepted a conversion notice from Typenex Co-Investment, LLC ("Typenex") to partially satisfy a $280,000 Convertible Promissory Note Agreement ("the Typenex Note") dated October 1, 2013 with Typenex. 39,250,000 shares were issued to satisfy $15,111 of the outstanding principal and interest. In accordance with the terms of the Typenex Note the shares were issued at a price equal to 70% of the arithmetic average of the two (2) lowest VWAPs of the shares of Common Stock during the twenty five (25) consecutive Trading Day period immediately preceding the date of conversion. As of the date of this report the remaining amount currently outstanding on the Typenex Note, including accrued interest, is now $58,986.
On October 29, 2014, the Registrant accepted a conversion notice from WHC Capital, LLC ("WHC") to partially satisfy a $55,000 Convertible Promissory Note Agreement ("the WHC Note") dated April 21, 2014, with WHC. 20,650,000 shares were issued to satisfy $6,505 of the outstanding principal and interest. In accordance with the terms of the WHC Note the shares were issued at a price equal to 70% of the arithmetic average of the two (2) lowest VWAPs of the shares of Common Stock during the twenty five (25) consecutive Trading Day period immediately preceding the date of conversion. As of the date of this report the remaining amount currently outstanding on the WHC Note, including accrued interest, is now $48,495.
Union, JMJ, GEL, Beaufort, Typenex, and WHC are each an “accredited investor” as defined under Rule 501 of Regulation D. The Company believes that these transactions are exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933, as amended.
The above described executed Notes are attached hereto and incorporated by reference as Exhibits 10.1 through 10.6.
As of the date of this report the Registrant has 551,835,737 shares of its common stock issued and outstanding and 519,736,826 shares in the public float.
get out while you can.....
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION.
In connection with the entry into the License Agreement described in Item 8 below, the Company borrowed CAD $79,106 (the “Loan”) from an Ontario corporation owned in equal thirds by John Bentivoglio, Nicholas Bozza and Frank Sgro, all of whom are affiliates of the Company. The Loan is to be repaid on December 1, 2015, together with interest at the rate of 12 % per annum. As additional consideration for the making of the Loan, the Company agreed to cause its Subsidiary (as defined in Item 8.01) to enter into a Sublicense agreement with the Lender whereby the Lender will be granted the exclusive rights to distribute the BreastCare DTS™ product in Canada with royalties payable at the rate of 5.5% of net sales, as to be defined in the Sublicense Agreement.
Shortly after entering into the License Agreement the Subsidiary entered into release agreements (the “Releases”) with certain creditors (the “Creditors”) of Life Medical Technologies, Inc. which held judgments against Life Medical in the aggregate amount of approximately $501,000. Pursuant to the Release Agreements, the Subsidiary agreed to pay the Creditors an aggregate of $501,000, of which $125,000 is to be paid in cash and the balance of which is to be satisfied by the issuance of shares of common stock of the Company valued at $376,000. The recipients of shares valued at $70,000 are also to be paid, at the option of the Company, in cash or shares of common stock, an amount equal to the excess, if any, of $70,000 over the value of such shares as of December 12, 2015.
ITEM 3.02 UNREGISTERED SALE OF EQUITY SECURITIES.
As described more fully in Items 2.03 and 8.01, on October 22 and October 23, 2014, shortly after the receipt of a License Agreement from Life Medical, the Subsidiary of the Company entered into Release Agreements with certain creditors of Life Medical. Pursuant to such Agreements the Subsidiary has agreed to cause the Company to issue to certain creditors shares of common stock of the Company valued at $376,000. Such shares represent a portion of the consideration to be paid to the Creditors for the release of certain judgments they hold against Life Medical which aggregate approximately $501,000. The Company believes that the issuance of the Shares is exempt under Section 4(2) of the Securities Act in that the issuances were the result of individual negotiations with the Creditors and that there are no more than three creditors which will receive the Shares. Further, the certificates to be issued to represent the shares will have affixed thereon a restrictive “Securities Act” legend.
there you go...convertibles in the future with dilution of shares.....careful folks.....
there you go...convertibles in the future with dilution of shares.....careful folks.....
fox...you're right about that....more dilution...this may go to .0001-.0002...beware folks....
more convertibles...this could get down to .0001....be very careful people....
well what do you expect here at IHub...I don't know why you waste your time here....oh the treatment for ebola is medical marijuana but that is being covered up....