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Yeah definitely hard to argue that, and you could certainly be right about this, but with Mark and his total lack of communication, his relentless insistence on this NI 43-101, anything can happen at this point. Is there some method to his madness? I guess we should find out soon enough.
Yeah I agree after reading the latest PR over and over, that's where the waters get muddy, and things like you are ensuing come into play. But his main goal and objective from the start was doing a RTO with Ameca Mining, a credible CEO would inform STHC shareholders that his plan is going in a different direction, yet he remained absolutely dead silent on this issue.
Just curious why Mark would still be saying as of January 17, that no RTO can happen with STHC without the NI 43-101. Why would he need a NI 43-101 for Schatzi Exploration, if they are not directly linked to Ameca Mining? And the Schatzi website came out about a month before the PR on Jan 17.
Big day for ENZC imo, to hold the gains of the past couple days and maybe even move a little higher. Will go a long way going into next week.
Hate to keep going back to the January 17 PR, but if Ameca Mining was not going to do a RTO with STHC, why would Mark use Ameca Mining Twitter feed to address shareholders of STHC?
Looks like she wants to chase all the way down to the 50 & 200 dma before she bounces. Must hold the .16's, otherwise we're back to square 1.
People need to remember their Twitter account, Ameca Mining, and what happened when rumors started circulating basically the day after the RTO was announced, about how they had billions of dollars in graphite. Mark immediately threw the kabash/cold water and said basically they are waiting for the NI 43-101, and nothing happens without that. Now, he imo definitely expected to wrap up everything in a few months, going current, name and symbol change, NI 43-101, & RTO. So where I believe the confusion comes is Mark talking about getting current with the OTC from that initial PR back in August. So obviously things didn't go as planned, and communication was admittedly poor from Mark. It seems he wanted nothing to do with anything at that pt, until he got the NI 43-101, and this is where we are at now.
This has always been a risky play for me and everyone involved, untill the RTO actually takes place. Add the enormous delay/wait, on top of the new rules going in effect in the OTC by September, and it's no wonder people are on edge and trying to get any information they can. So you just have to assess the risk/reward from here, and expect the unexpected sometimes. If they do what they originally set out to do, this will undoubtedly be a definite short-term homerun from here, and possibly a long-term one obviously.
I'm just quoting Mark from the Jan 17 communication, our last time we heard anything from him. Those are his words, not mine, and yes it would be really easy for him to clarify himself, and unfortunately that PR left more doubt, uncertainty, and unanswered questions. So it's really hard to make sense of anything at this pt no matter what your stance is, because anyway you go, whether you are one who believes it will/won't happen, a lot of things just won't add up either way.
I agree but it also clearly states this.....
Southcorp has not updated its OTC platform, as of yet, and an RTO cannot
proceed without such an internationally recognized report.
So whether you or I like it or not, there is simply no RTO without the NI 43-101, and if there is no RTO then why waste time and money getting STHC current?
Technically you are correct and I agree with you, as do many others on getting STHC current. But unfortunately we are not the CEO of STHC, Mark Bolster is. And even though he could have gotten STHC current without the NI 43-101, it may just be something that he wants/requires in order to move forward.
And there goes CDEL again right away this morning, dropping the ASK below yesterday's closing price. It has been a sign in the past, that if CDEL is dropping the price on the ASK premarket, they will try and take this down. I believe only once have we bucked this trend and actually went green on the day. Hope I'm wrong, but we could see another early morning shake out.
I think it's a fair point to make, but why would his primary objective be to get STHC current with the OTC Markets then? Doesn't make any sense to get a shell current if you weren't going to do some sort of RTO. Now what actually goes into STHC is up for debate also at this pt because there wasn't a lot of clarity either from that Jan 17 communication. And don't get me wrong, it hasn't appeared that his primary objective is to get STHC current, as it seems he could have done that a long time ago. But then again Mark beats to a different drum as we all know, and in his mind he's doing nothing until he gets the NI 43-101 report back. All just speculation on everyone's part, as we have had such limited communication since August.
Yep no doubt MAGA, seen it here over and over. And all the other MM conveniently step aside for them.
CDEL really trying to shake the tree here in the premarket with the ASK @ .265......lol No shares traded so who knows what's going to happen.
VERT super aggressive today with nonstop/unlimited 5k ASK. Haven't seen that yet from them. Seems they are short shares imo.
And there goes the tag team ASK walls again. Seems like this type of trading has been going on for months.
But the real issue is the overall dollar vol into the OTC stocks. We are off anywhere from 2.5 to 3 billion $$$ from our highs in early Feb. On top of that we are missing close to a million trades a day in the OTC .
Now think about ENZC, and we are only doing maybe 2 million $$$ a day now, versus around 50+ million at our peak. Impossible to move this stock with the current vol, going to need some new big money to flow in somehow.
Still no vol but plenty of fake CDEL walls......lol
CDEL on the BID only in the premarket. Might be the first time I've seen that or hasn't happened in a long time. Maybe just maybe they will move this higher today? We'll see.
No, I definitely agree with you. I'm just saying Mark beats to a different drum than everyone else.....lol In Mark's eyes he needed the custodianship closeout, when in actuality it really didn't hinder him. It's really crazy that 9 months later we are having to go through this, when a simple Tweet would put everything to rest.
In October or whenever, all Mark had to Tweet was we are waiting on custodianship discharge from the Delaware courts, and we also have to have the NI 43-101 to proceed with the RTO. That's it!
And we all know what Ben was referring to when he said that nothing is stopping Mark from moving forward. Because everyone at this time was assuming that he needed custodianship discharge to move forward and get current with the OTC.
I'm not saying anything other than Mark always leaves more questions than he does answers. In my opinion, you don't Tweet you have completed the OTC application and are just waiting for approval, if you have to wait for the courts to grant custodianship away from Ben and over to Mark. That makes zero sense to me, and especially during the height of the pandemic, where all the courts were moving super slow. Now, here is the direct quote from Ben himself on Nov 11.....
On STHC (Southcorp Capital, Inc.), we have received many inquiries from shareholders. I have reached out to Mr. Bolster the CEO/President and asked for an update. As of today, I have not heard back. I suggest reaching out to him directly for information on where the company is at in the process markbolster@amecamining.com. The pending discharge with the courts does not hinder the company’s ability to continue to progress and move forward.
I understand what you are saying and not trying to start anything or split hairs here, but he did say they completed the application and were basically waiting for approval. Approval for OTC membership had nothing to do with the custodianship issue. Once again this is Mark we are talking about and that's where a lot of the confusion comes in, but if it depended on the the approval of the courts, you would think there is no way he would have tweeted that on August 12.
Not exactly correct. Once the OTC approves your application, then you basically have 24 hr access to the Disclosure page to upload your financials. The OTC at that point has zero to do with the Disclosure page and when/if you upload anything. Without OTC membership approval, then you don't have the ability to upload financials.
Yeah but you have the Tweet that they completed the OTC application and were waiting approval to start uploading financials, and that was on August 12. So he obviously didn't wait for the courts to do that, unless he was just straight up lying which I doubt. I think it had nothing to do with custodianship, but everything with the NI 43-101.
Usually when a CEO fields thousands of emails asking the same few questions, they would put out some sort of PR or even a Tweet, because it's obvious they would not waste their time in responding to everyone. So maybe this is where Mark's disdain comes from for current STHC shareholders. Of course this is speculation and I'm not saying he's right or wrong, but why else would he seemingly go so cold so quickly after the August 12 PR? I truly can't imagine how many emails he's received over the past 9 months.
Completely agree but go back and read the Aug 12 PR and the first few Tweets. Sounded amazing for current STHC shareholders. But I guess he got really spooked by all the rumors swirling around about what they actually had in those mines, and completely shut everything down soon after. I'm not sure why he had to do a 180 from his PR and basically say nothing during the process, but it's obviously how he chose to treat current shareholders.
I agree with you but he could have also been a little more clearer on Jan 17, even though yes if you read between the lines on the Jan 17, it's basically what he said in a nutshell. It wouldn't have taken much to say that they will not proceed with any financials or anything that involves getting pink current until they have the NI 43-101. And actually that is something they could have put in the Aug 12 PR or via Tweet before they went silent, that getting current with the OTC only will happen once they have completed the NI 43-101, then there would really be no issue right now.
That's very sound reasoning/deduction about what happened here. I'm still very optimistic, and have been a shareholder before the change of control was even announced. Obviously the pandemic couldn't have happened at a worse time, especially this being a Canadian company, where as Canada is also an absolute mess right now with shutdowns and restrictions. To make matters worse, Covid-19 really hit Sri Lanka hard and made it that much more difficult.
I just wonder if they have even bothered to get any financials done during this time period, or are they waiting for the NI 43-101 to start that process. Mark did say on Jan 17 that getting STHC was basically their priority at the moment, and just because of the delay due to Covid-19, shouldn't have any bearing as far as them continuing with the RTO.
As far as the Grey's are concerned, I don't think it will be a big deal as long as we hear something before September. Now, if he doesn't say a word and we remain in the dark and go grey, then that's a different story. Website has been down for 2 weeks, so I would think like you we'll have something by the time it goes live again.
Yeah your right, I knew I read that so they should obviously be approved and they just haven't uploaded any financials yet. Really strange though.
I have called the OTC many times when another ticker was going through their application and getting current, and the lady was actually pretty forthcoming with information at the time. I remember her telling me that she has never seen a company apply and get approved for membership, and not subsequently get current. Like the only reason one would apply for membership to the OTC is to get current. So maybe Mark will be a first, but I surely hope not.....lol
Even though it's not necessary, the only plausible explanation is that Mark put the RTO and getting current on hold until the NI 43-101. We know for sure it's the case for the RTO, but with no filings to date, one would think it's also the reason for not getting current 9 months later.
I wish there was a way to know if they have even applied for OTC application for the pink sheets. Normal applications take around 2-3 weeks to be approved, and then STHC would have the ability to upload all their financials to the Disclosures page. Nobody at the OTC will give this information, and the only way to know they are members of the OTC is to see a filing hit. Mark did say that there wouldn't be a RTO without the NI 43-101, but has never said anything why any financials have been filed for STHC over the past 9 months.
Yep, definitely could be. We'll find out eventually. They've been awfully quiet as of late.
Still sucks but would be nice to know who they went to and for what
Looks like all 42 million shares added are restricted.
"The focus and strategy going forward in the coming months will be to bring the status of the company current with OTC Markets, and to complete a reverse takeover (RTO) with AMECA Mining," stated Mark Bolster, Chief Executive Officer. "We have many exciting announcements to make once we complete the transaction with AMECA."
Lol.....This hasn't aged so well from the Aug 12 PR
In less than 3 months he will have to correct it to the coming year(s)......lol
Yeah he is really hard to figure out. They immediately came out with that initial PR in August when they announced the change of control and the intent to reverse merge with STHC. Created a Twitter account immediately and started tweeting right away until they abruptly stopped because of rumors of what they really had. Put out that buyer beware tweet and that was it until January basically. What was the purpose of even opening a Twitter account at the exact same time they announced the rm, if you were not going to use it to give updates.
It's obvious he cares very little about current shareholders. He wouldn't have even put out that update in January, if it weren't for all the rumors going around. I can't imagine how high this stock would run on confirmation of NI 43-101 and getting pink current. Look at what it did with just rumors.
Yeah I agree. He also said he's working on a PR for STHC shareholders on a path forward, which was 4 months ago!!....lol Maybe we need to bombard Twitter with all sorts of outlandish rumors, seems that's the only way to get Mark to communicate. Website down for maintenance now coming up on almost 2 weeks. Might as well get rid of their Twitter account because it's completely useless. I mean it would take minutes to send out a Tweet on what's going on with NI 43-101 and website.
Getting pink current doesn't take that long, usually around 2-3 weeks once you have gathered the last 2 years financials and any subsequent quarterlies this year. I would hope they would have those basically ready to drop by now since they have had all kinds of time since last year to prepare for this. So theoretically we could/should move fast once the NI 43-101 report is ready. I've seen some companies drop 2 years worth of financials in a day or two, and others it took a couple months. Obviously this is all just speculation since we have not heard a peep since mid January.