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They don't have franchises in ANY states - they have just set up the ability to look for franchisees in 31 states and found 0 after the North Texas hurricane somehow eliminated the first franchisee they were going to announce in October (I wonder if it was scammer Randy Torno who lives outside of Houston, runs ALYI and ran ANCE and was on the board of PJET which was affiliated with WCVC). No sane person would pay a franchise fee for a franchise with no capital (just a lot of debt) to provide any resources, no real scale to provide economies of scale in purchasing and an easy to replicate concept.
We don't need the update it will be a restatement of the previously mentioned "corporate structure" for the ICO at the Malta conference was great as earlier show by the Goldman paid for "research" of whoever said they love the idea of an ICO. Blah blah. It would be great to get a date when the first sales will happen.
It's hilarious that Torno said that they need to be built "just in time" as buyers would have no patience to wait but I guess both the often Pr'd African and US buyers are fine waiting forever here.
Financials will be interesting - will any of those revenues for South American consulting (another odd thing unless Torno is running his METIS consulting fees through here without actually paying ALYI cash) booked starting about 2 years ago turn into cash or will they continue to be long unpaid "receivables" (another common sign of accounting fraud) - hopefully we don't have to wait for the always 45 day late 10-K in April.
56.3MM have been .0001 today and only 1.4MM at .0002 - I would call that all 1s. And we'll wait for the after hours sub 1 print that happens more than 1/2 the time. It has only been all 2s when there has been no volume as in earlier today. Would be nice to seem some financials but that's an April date for the 10-K. Unlikely they would dilute so much before then though if they had news coming that would make this pop.
Beyond Meat is a supplier not a partner - they don't have an investment, reputationally or financially in WCVC - they will sell to anyone who will buy it. Illegal Burger probably also "partners" with Procter & Gamble for the toilet paper in the bathroom. To validate WCVC based on that is like saying "Bernie Madoff can't be a fraud since Toshiba sells them copiers and Toshiba wouldn't partner with a fraud." Anyway, I don't think anyone thinks Illegal Burger is a fraud - just a perpetually money losing small restaurant chain.
The scam is the pretense that shareholders will have any outcome but to dilute themselves and allow Jim Nixon to get paid and pay off his mortgage backed debt. They won't get any upside (other than if Jim Nixon "gifts" them some of the upside) as there is no board oversight, no shareholder agreement protections, and full voting power is held by a person who owns less than $5K of stock and thus has almost no economic alignment with shareholders. This is not speculation - this is a fact of the corporate structure - the speculation is whether or not Jim is a good guy who will altruistically share the upside with common stockholders- I have no view on that.
Yeah - that points to a Rob Goldman research report. He writes recommendations for all the scams (WCVC, PURA, NOUV, KALY). That was paid-for research (and he discloses this one his site) which just repeats the info ALYI gives them and comes up with price targets either based on odd technicals or "fundamentals" that look at very optimistic targets and don't even look at debt levels or dilution (so $.09 targets remain that way even though dilutuion by 100x, for example, should bring them to $.0009 targets by the same logic).
In this case it was due to "being ahead of the game" in hemp storage with Professor Mitlin at Clarkson (you can call him on the Clarkson website - that was a scam as they were exaggerating his involvement while he already had another company that owned the commercialization rights to his technology on the Clarkson website with no mention of ALYI - look on this board for more details or email Prof Mitlin).
From the report : We believe that ALYI’s new, innovative hemp energy storage initiative has been buoyed with the addition of Clarkson University Professor David Mitlin. Professor Mitlin is a leading expert in electrochemistry and a pioneer in the use of hemp as a clean, green, renewable energy in the form of a supercapacitor. Mitlin has successfully used hemp bast - the fiber left over from processing hemp - to construct carbon nanosheets that compete with, and in some respects, outperform the supercapacitor performance derived from more typical graphene nanosheets. Mitlin holds a US patent for his proprietary hemp energy storage technology.
I went to the barchart.com link you provided and for ALYI it says Barchart Technical Opinion "Strong Sell" as "long term indicators fully support a continuation of the trend."
https://www.barchart.com/stocks/quotes/ALYI
On the positive side there are now a bunch of people who need a new burger franchise to replace this one (they just need $$$$ to invest) The article below is NOT WCVC/Illegal Burger.
https://pagesix.com/2020/01/21/jonathan-foodgod-cheban-caught-up-in-collapse-of-sketchy-burger-chain/?_ga=2.206282771.1025191823.1579630710-1912261903.1570810014
https://www.restaurantbusinessonline.com/emerging-brands/burgerim-disaster
DALLAS, TX -- January 21, 2020 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) ("PURA") and Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) ("KALY") today announced the two companies have entered into discussions regarding PURA's possible acquisition of KALY's CBD confection assets. KALY recently announced plans to consolidate its business structure and focus on its Cannabis Biopharmaceutical Technology spinning of its non-pharmaceutical business assets. KALY has a U.S. Patented Cannabis Extraction Process and is developing treatments for various medical conditions. The technology has been valued at $50 million in conjunction with a recent acquisition offer that KALY management passed on. The cannabis biopharmaceutical market is anticipated to reach $50 billion by 2029.
That's from the press release. Who even knows what KALY's CBD confection assets are since they haven't published financials since the end of 2018 when the only assets they had were $512 in cash and $41MM loans to officers which is not explained and tough to conceive of as an asset. I know they supposedly had $300,000 in gum and candy sales for the first nine months 2019 but it would be nice to see that in filed financials rather than in a PR. Anyway, it's supposed to be a different company but without financials who knows what this is other than another chance to shuffle deck chairs between related companies and create some valuable volatility.
If KALY management passed on a $50MM acquisition offer for its technology its management should be sued and taken out immediately. That was hilarious.
Still meaningless -two things there
1) There is no indication that it commits SPD to do anything. We don't see the legal wording and the loose PR wording is that SPD will deliver up to 1MM PL per month - it doesn't say that they are obligated delivery anything (can they decide whether it is 0 or 1MM or is it all SHMP?).
2) It still shows no "serious" commitment by SHMP. I can enter in a contract where SPD will deliver up to 1MM PLs per month to me. If I'm not obligated to buy it means nothing.
Without the contract we can only make assumptions and OTC PRs are always written to make investors assume the best.
There was a NASDAQ (not even OTC) stock GT Advanced Technologies (GTAT) that everyone went crazy for when it was announced that they had a contract to build sapphire based unbreakable screens for Apple. Unfortunately when the contract details where disclosed months later Apple had 0 obligation to do anything and the "investment" that Apple put into them was really a secured loan that was defaulted upon when GTAT could not live up to its harsh terms in the contract. Apple then took over the GTAT factories in bankruptcy less than a year after the contracts were announced while the GTAT CEO cried that they were bullied into the contract. You can't judge a contract from a PR - you need to know the terms and at least some of the minimum obligations.
"This was announced via a press statement, issued by Alternet Systems, which does not disclose the name of the specific shared ride provider but says that the client delegates will be in the United States next week."
That's from the article - this is an indication of nothing but the fact that ALYI is PR'ing the Kenyan press with the same PRs they churn out over here in order to look "active." These articles are not reporter generated or Kenyan partner generated but as the article states, just a repeat of info from an ALYI PR.
Have you read the contract? Does it commit SHMP to buy those shrimp? No, since is says "up to 1MM PLs per month." It doesn't seem like it commits them to do anything and thus is not any proof of being "serious" and since we know very few details about what each party's obligations are I don't think either of us can make any conclusions based on this "contract" (other than the words "up to" don't sound like a firm commitment).
People think they will as they have filed a DEF 14C approving an RS and there is no good reason to file this DEF 14C and scare the market unless they think they will likely do it.
They can not implement the RS until at least 20 days after the January 15, 2020 mailing so on or after around Feb 4, 2020 and with this DEF14C they can RS until January 15, 2021 without filing a new DEF14C.
From the DEF14C
This information statement is being mailed on or about January 15, 2020 to the stockholders of record on January 10, 2020 (the “Record Date”) of West Coast Ventures Group Corp., a Nevada corporation (the “Company”), in connection with certain actions taken by the written consent of the holders of a majority of the voting power of the outstanding capital stock of the Company, dated as of December 27, 2019. The actions to be taken pursuant to the written consent may be taken on or about February 4, 2020, 20 days after the mailing of this information statement.
By that logic, the reason they need 10 billion shares authorized may be that they plan to give away shares to everyone who buys a burger or a slice of pizza. It’s an incentive to buy more! The more burgers each person buys, the more revenue for WCVC. Incentive! But that’s not on the menu just as free dilutive shares for franchisees aren’t in the franchise agreement. But who knows? That’s the present. It might only be free shares for customers who teleport in to eat! The future! Think out of the box!
Seriously think about the incentive logic. Franchisees have an incentive to increase all the sales they have control over - it’s the revenues and resultant profitability of the stores they own. Corporate stock aligns them with things over which they have no control - sales at other stores, corporate decisions, etc. giving dilutive stock away to franchise holders is a super inefficient and indirect way to try to create an incentive alignment that is already there by virtue of owning the store and it doesn’t dilute existing holders. Giving them free dilutive shares doesn’t make sense.
That’s crazy. A franchisee can buy 100 million shares for $10,000. Why would WCVC give shares to franchisees? They own a store that should pay WCVC a percentage of revenue and give and get other things dictated by the franchise agreement. Free shares to own part of the company would not be a normal thing. Did you see this in the franchise agreement? That each franchisee dilutes the prior holders by getting free shares? That would be weird. Just ask Jim for a copy of the franchise agreement or sign up for it on the website. You can find out instantly. It would be quite abnormal if so.
What is the right PPS and how can you possibly know that without knowing how many shares will there be in the end? Why would a company get an earnings multiple (i.e., a fair PPS valuation - even shill Goldman's didn't take into account dilution or debt) when there is no guarantee that, like a normal company, it will eventually somehow distribute those profits to shareholders or even if it never distributes at least having the possibility of proposing a distribution to the board and being able to vote on it as a shareholder. Those are the things that turn EPS into a share price.
You know a little about how the REGULAR stock market, with shareholders rights, contracts, a board, distributed voting power etc. work. There is no reason that you can extrapolate that market to this "I'm paying $.0002 for something and I don't even know what I am getting" OTC market works.
Enjoy the virtual tour though - it should be cool.
His motivation to grow the company is to make huge profits that he then can, at will and without anyone stopping him as he won't be violating any shareholder agreement, take all of profits with a salary and bonus. HE is guaranteed to get rich if this works - you are not.
The DIFFERENCE, that I've pointed out many times, is that by owning no shares (14MM but $2800 worth) is that YOU pay and not him on the downside. On the upside he keeps it all unless he decides to be nice as he likes you. My logic is fine - your ability to realize what you have gotten into is not.
Not really - the majority of companies have shareholders rights agreements, contracts, a board, distributed voting rights, etc. that provide investors SOME level of protection rather than just trusting one guy. Those success milestones are all things that would make Jim Nixon rich as he alone has the voting power to decide what to do with the profits - it's not like owning a share of McDonalds. Hopefully he will share some of the gains with you - he's not participating in the losses he owns only $2800 of stock and he is diluting you in order to pay off the debt that is secured by his home.
How do you think you will get even $1 of profits if this turns out to be the next McDonalds and they miraculously pay off $5.7MM of current liabilities with a $75,000 to $150,000 market cap? - what are you entitled to as a shareholder without any protective rights, contracts or board? Pleaase spell out exactly how that will work - that you trust him to eventually dividend out some profits to shareholders or that someone else will buy the company and he won't spin whatever they want to buy into another shell leaving you with nothing? Welcome to the OTC! What makes you think you would not be diluted out of it or that he would not distribute profits to whomever he chooses - i.e., giving the profits to Jim and his old friends and not his new friend DemiCash.
It is January 2021 20 days after they mailed the pre14c so most likely around January 20 or so but they can always put out a new one after cancelling or right before this one expires.
But it’s not an investment if you don’t know what you’re getting for your dollars. It’s a gift to Jim to pay off his debts for which in return you are hoping that he gives you something like a cash dividend in return of it works out.
What do you think you are getting? A share of the future profits? Jim can legally give himself all the future profits as salary and bonus for doing a great job. He can also dilute you to zero ownership and keep the rest while only losing $4200 of his own money. Why is a share or a million shares more valuable than toilet paper when he can make more at no cost?
What do YOU think you are buying when you are buying a share of WCVC? Do you think you are buying a fixed / certain percentage of the value of the enterprise? If you did you have been proven wrong again and again with massive dilution. What is the piece of the pie you are buying - 2% 1%? No - whatever he arbitrarily decides to dilute you to and “gift to you.”
And NO this isn’t the case for any company. Real companies, including tiny private companies and large public companies have protections from some combination of voting ownership, board control, share holder agreements and/ or contracts.
You REALLY don’t get this. His house is not on the line. He is diluting you to pay it off. What is he risking? $4200 of his own investment! He doesn’t own stock! His upside is what he will pay himself if this works. His downside is literally nothing as he has protected his assets with a structure that allows you and those like you to pay for his house if this doesn’t work. Your upside is what he decides to leave for you if it works as you have given yourself no protections. Your downside is zero as you can’t dilute your way out of this.
If this works how do you think he gets paid if “his dream that he has tied everything to” works with his owning less than 2% of the stock? Salary and bonus that he decides himself!
You might want 50% voting but in exchange you would have to give some sort of protection in a shareholders agreement to get investors other than non-savvy retail OTC investors or OTC day traders. Also you certainly wouldn’t let them only give you 2% of the stock worth $4200.
Investing in this is Exactly someone saying “want to buy 50% of my business for $112,000? except only I get to decide what parts of the business I can sell without giving you a vote or any proceeds, I pay myself an arbitrary salary and bonus that I decide, and I can dilute your ownership to 10% 5% or 0.0001% without compensating you. That’s literally what you sign up for when you buy this stock. I’m glad you trust him.
Why doesn’t Jim Nixon have any economic alignment with shareholders in this? Why does he have less than $5000 of stock? Why doesn’t he buy much more? Do you think since he was nice enough to call you that it’s because he wants to leave the opportunity to buy over 98% of the stock he doesn’t own to people he likes like you and will give up economic interest so that you can own stock? Why doesn’t he buy the whole company and its debt? Did he save that little as a “great business executive”? He has practically no formal alignment of his economic incentives and those of WCVC investors. In addition, with over 50% of the voting power, no board oversight, no shareholders agreement protections and almost no regular stock ownership he can legally pay himself 100% of the profits of WCVC ever starts to make money also leaving investors with zero! But he seemed nice and honest to you so we don’t have to worry about that. Thus I don’t know what the comment “all his businesses are tied into this” means.
Wrong again! It actually can lead and appears to have led bad behavior.
Since Jim Nixon only owns about $4,200 of regular shares (he owns the majority voting shares which do not trade with the market and are not diluted but less than 2% of the regular shares), he has really no incentive to protect regular investors.
Thus basically his ONLY incentive is to not lose his house (and to keep his salary). Thus the company has to get the funds to pay off the $100,000 loan secured by Jim's house by April of 2020. How does he do this when the company has less than $100,000 business has been losing cash? Massively dilute the stock (and it has to be massive as the market cap is only $225,0000) until they have enough cash to pay up in April and save his house! Good luck with the rest of the $5.7MM in current liabilities!
If she lost a nickel on the first day I would be OK - if she never made a nickel since inception over several years and then had negative cash flow and operating losses of almost $1MM in the past nine months when the market cap of her business was less than $250,000, I think then I would be a good uncle and tell her to shut down.
Yes - I know - they are looking for franchisees as they can't afford the negative cash flow to execute their business plan of store openings without them. They have found none and it will be curious to see who signs up as WCVC does not have the financial resources to support a franchisee nor is it large enough to provide significant discounts in the costs of technology, ingredients or other inputs.
Click on that video link on the site for franchisees - oh - the video doesn't work due to a dispute with the marketing consultant - way to manage your business and convince potential franchisees that you have your act together WCVC!
Wrong again - WCVC has NEVER made a profit and its losses relative to revenues are GROWING. It has OPERATING losses and $5.7MM of current liabilities - not just small growing current account deficits in a budding company.
Real budding companies get legitimate Venture Capital (and the world is swimming in VC funding for anything that really looks like a promising investment) small business loans and other legitimate financing (much like WCVC did until about a year ago) - financing with very high interest debt and MASSSIVE dilution as WCVC has been doing in the past couple of years and accelerating is what should be not trusted.
Nope it's not the franchise costs - those have been minimal (like the website that doesn't work as they have likely not paid the developer - otherwise why would he shut down the video and claim a copyright dispute for something he built for them) as there are no franchises - look at fixed capital, pre-opening expenses etc. - please read the income statement, cash flow statement and associated commentary rather than making assumptions.
They PR'd a debt pay down that was already in the financials but they only put the good parts in the PR - investors don't need that. The financials are a better source as the SEC will smack them if it is misleading.
They also PR'd only the good part of franchising - that it was imminent - and that soon after the hurricane the franchisee would be back soon - no more details - they went dead. Investors don't need information that is only slanted toward the positive. That is why investors should read SEC filed documents which much more weight than PRs. Momentum traders should probably care as much about PRs but they are not nearly as helpful to seeing if there is any real long-term value in a business.
Nope - wrong again - I've said many times that they are growing their revenue but unfortunately growing operating costs (and of course total costs) faster and that debt is huge relative to revenues, market cap, earnings or any reasonable financial metric and that the debt is growing not shrinking despite almost historically high levels of insane dilution.
My bankruptcy point was that the food can be delicious and the restaurants can be packed but it doesn't mean that the balance sheet is sustainable.
Search the comment boards for buyout. Several have talked about it (as a pump) - you and your "army" are not the entire board. Obviously a buyout would likely be good but I'm just pointing out that if there is a buyout to check the details before buying more stock (like BOST or like some PJET holders loved the WCVC Americanna Cafe odd asset swap as they didn't understand that they were left with nothing).
Really interested in the OTC world and scams. I don't think WCVC is a scam like LEXG, ANCE and ALYI in that the product is real but its association with PJET and Rob Goldman originally drew my attention and the massive dilution and poor corporate governance kept it (consolidated voting power without a real financial stake by the CEO/President/Secretary). The "franchising" and "debt pay down" PRs kept it.
It's interesting as it has a real product but that might also be its downfall. Unlike LEXG or PJET they can't just re-invent themselves with a low cash burn so it will have to have a quicker end one way or another. It will most likely end up with my writing a magazine or newspaper article, a book, a script or a case study. It's a great story!
OK - so add bankruptcy to things you don't understand. I didn't say the Boston Market stores weren't around - I said the entity in which shareholders were invested which ran and owned Boston Market (much like WCVC runs and owns Illegal Burger, Illegal Pizza, and El Sol) - Boston Chicken, Inc. (BOST ten BOSTQ then BCHXQ then delisited) went bankrupt and the shares and unsecured bonds went to 0 permanently. McDonald's bought them in bankruptcy in 2000 for less than the value of the secured debt after they filed bankruptcy in 1998. Despite the delicious chicken that you love and the McDonald's "buyout" the shareholders got nothing - zero. McDonald's later sold it to a venture capital firm and the stores still exist but the BOST stock went to zero and shareholders have nothing. So the food can still be delicious, the restaurants can still exist and yet shareholders get nothing - that's what an unsustainable debt load can do.
Yup. People loved Boston Chicken / Boston Market also but it wasn’t enough to overcome the debt so it went bankrupt. Even though it was obvious to institutional shareholders and bond holders that it would go bankrupt retail kept buying - a strategy institutional observers called “yum yum chicken!” Then McDonalds bought something assets in bankruptcy which REALLY caused retail investors to go crazy run up the stock “McDonald’s buyout!” Even though, as eventually panned our, the amount they paid only covered GE Capital’s debt, the secured debt holder and unsecured public debt holders and stockholders got a big fat 0.
Yum Yum CBD burgers and pizza! Buyout! Sound familiar?
You don't get to vote as you own 0 of the super voting preferred shares. Only Jim Nixon the President/CEO/Secretary got to vote. There are 500,000 of these, Jim Nixon owns them all and they have 1000,000 votes each or 50 billion votes so your 4MM is nothing - the 50.014 billion votes from Jim Nixon was 98.51% of the voting power as of the authorized date.
It's an awful corporate governance situation, Jim Nixon has only 1.85% (14MM shares) of the economic interest (only about $4,200 at the current market cap so it doesn't matter at all to him if the stock soars or not - just as long as it stays alive from dilution and he keeps paying himself) but over 98.5% of the votes so he doesn't have to care about shareholders and there is no board for oversight.
From the PRE 14-C
What vote was obtained to approve the actions described in this information statement?
We obtained the approval of the holders of 14,000,000 issued and outstanding shares of Common Stock and the holder of 500,000 issued and outstanding shares of Series A Preferred Stock, representing approximately 98.51% of the voting securities.
Can you read? There is no "20 day time limit" for an R/S. In fact NOTHING can happen UNTIL 20 days and then the "limit" is for a year after that.
Pursuant to Rule 14c-2 under the Exchange Act, the actions described herein will not be implemented until a date at least 20 days after the date on which this Information Statement has been mailed to the stockholders, or on or about January
Wrong. Both shorts and longs are adjusted at the same proportion so the short interest ratio remains the same and unless volume goes down by more than 200 times in a 1:200 split, there is no reason for days to cover to increase so no extra short squeeze pressure. In fact the opposite. And when stock prices go significantly higher, like over $1 due to an RS the cost to borrow / short stock goes down making it easier to short. This is why you never see longs saying “I hope there is an RS on the stock I own.” If you honestly don’t know this your “army of followers” should retreat quickly.
Do you know how shorts and an RS work? If I’m short 10MM shares at .003 and there is a 1:200 reverse split I will immediately be short 50,000 shares at .06. No difference except an RS usually makes things go down as some irrational investors think there is more to lose at .06 than .0003 “cheapies.” However, you would have to be dumb or a crook to be short most OTC stocks as the availability is usually too low, borrow cost is too high, volatility is too high and buy-in potential is too high. The only ones who can short safely are the dilutive financing participants who, due to the look back period and discount are guaranteed to make money no matter where they sell stock. So except for some risk seeking fools, most of the shorts here, those who hedge the financings or seek the conversion proceeds, are guaranteed to make money no matter what the stock does as long as it remains listed and retail holders buy at some price.
Is this tongue in cheek or just insane?
I believe DemiCash spoke with Jim. A CEO would possibly call a small investor in an OTC stock and as the PR contact for WCVC is Jim Nixon rather than a PR firm it makes sense that Jim would be the one responding to inquiries. It all sounded reasonable and none of it seemed like material non-public information. I don't know why anyone would have a strong reason to doubt what DemiCash reported Jim said. Nothing was different from things they have already publicly stated in PRs, financials or on their website. Moreover, the only detail DemiCash gave of their conversation was that Jim disclosed who the bottler was (which was already public information several months old). What else is there to doubt or care about from that post?
(The post in question by DemiCash follows)
Soooo just got a call from Mr Jim Nixon himself!
Did you know their CBD isn't from Kali or pura?
It's their own brand, helped bottled by rocking mountain bottling in Colorado.
So illegal brands CBD is ALL THEIRS!
That's pretty cool considering their franchise locations will be selling nothing but pure profits for WCVC then.
We spoke at decent length.
I asked about the debt, future plans, how growth is, his personal thoughts, etc
Looks like the end of Feb is our goal!
Won't go into details but I'll say this, keep the faith!
Yes - it is in the 10-Q that it has been private label since its launch in June and it was PR'd in August. The CBD is from another supplier Mile High Labs (not sure of their profitability but it is a legitimate CBD suppler with a $65MM non-dilutive term loan (terms undisclosed) from legitimate lender MGG Investment Group raised in 2019 and $35MM in equity raised in 2018) and the bottling is from Rocky Mountain Bottled Water. The brand is "all theirs" but the CBD is not obviously.
https://www.prnewswire.com/news-releases/wcvcs-cbd-beverages-could-help-offset-declining-alcohol-sales-in-restaurant-sector-300900616.html
You had to have known this already if you read and understood the Rob Goldman report that you have mentioned often which valued WCVC based on adding together CDB product sales at a "all theirs (non-profitable publicly traded CBD companies)" sales multiple along with a sales multiple for restaurant sales (and then neglected to consider the debt and the massive dilution in his paid for valuation).
Welcome video for future franchise owners on the WCVC site still "no longer available due to a copyright claim by Andrew Machol" so it looks like best guess a pay dispute with their market business developer / website developer.
They have never stated this as a reason for delays - just that "meetings in Africa continue to ...." I supposed you think Randy Torno's prior venture (dark for years on OTC) ANCE is legitimate also - anyway good luck to anyone investing wisely!