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No problem. Do me a favor and ask your son that is in law school what a derivative lawsuit is and what it can do for minority shareholders when officers of the company fail their fudiciary responsiblity or commit fraud. I have brought this up before but got no response from anyone.
What I get from all of this is that the officers in charge do not have the best interest of the shareholders in mind while some officers who don't own enough shares to force the issue are trying to do what's right. A derivative lawsuit gives a minority shareholder the ability to remove officers who are not working for the best interest of the company. And, as I understand it, if they have committed any crimes once they are removed from office a suit can be brought asking the court to strip them of their shares. This as opposed to a civil suit is much less expensive and doesn't take forever to accomplish, you aren't going after money only control of the company. If there are any assets left this seems the best course of action.
Again, I'm not a lawyer and obviously JMHO,
Tejas
DOS I don't categorize Yahoo Finance as a blogger, do you?
Tejas
DOS, you must have me on ignore LOL. I provided the link in my message so all could see for themselves. An institutional investor is simply a professional investment manager and I HOPE that implies that they did some in-depth DD. That's why I asked them if they would be willing to share any information that they have regarding AURC.
Luck,
Tejas
I just noticed this, not that it means anything, but Yahoo Finance is listing an Institutional Holder as of 12/31/07 with 42,000 shares. I sent them an email asking if that is accurate and if they have any information they would be willing to share. Don't expect much, but worth a try.
http://finance.yahoo.com/q/mh?s=AURC.PK
Luck,
Tejas
Thanks, did I misunderstand your statement that they wanted him to convert his shares for a bond that represented nearly 50% of the shares at that time? Also, apparently all of this stuff was going on at that time so I still question why he would allow it. That level of ignorance is criminal.
As far as Krong taking assets back because the OS increased, how could they do that? Was this a business deal or two kids swapping marbles?
Tejas
2C why would Valentin not exercise his right as majority shareholder and get rid of the "administrators" if they were disposing of assets, keeping the money from the gold or whatever they were doing that didn't help the company. In your post you said that he represented nearly 50% of the shares so it wouldn't be difficult for him to get support from a couple of major shareholders (you and Party S perhaps) to gain control of the company. This isn't making any sense, if all of these things were happening I have a hard time believing that he would calmly set back and let it happen.
Any clarification would be appreciated.
JMHO
Tejas
2C thanks for the info. I'm no lawyer but it seems to me if Valentin and you have proof of this level of mismanagment and possibly fraud, a derivative lawsuit should be filed to remove those officers of the company that have participated in these actions. I believe you would be sucessful in removing them if you have proof of what you mention or of some unlawful acts and then you could file another suit and have the court strip them of their shares. Or perhaps an easier way is if Valentin has close to a majority of shares he could obtain proxies from the shareholders on this board to vote their shares, in this issue only, and remove the culprits.
JMHO
Tejas
Stocks yes, but you contend this is a scam, that's the dividing line.
Divtrader, how about this: You claim to know this is a scam yet you still buy in to day trade. If you don't think the company is actually going to appreciate in value how do you expect to make money except from other people who are NOT day traders. You buy in to day trade and when you make your profit you sell and that combined with every other day trader kills the run and hurts the average investor and the company. Maybe AURC is a scam, there are a lot of things that need to be answered but don't claim to out for our best interest while your actions say otherwise.
Has anyone looked at what an "accredited investor" is and what AURC must provide for a RegDex? I'm not saying that this verifies much of anything but it certainly makes me wonder why the supposed 4 investors that put up $100K would do that if this was a scam. I personally have not seen the documents that showed this but it was discussed on the board a while back. Below I have pasted a list of requirements for an accredited investor and the web address I got it from.
Luck,
Tejas
http://www.threenorth.com/sco/vista_timeline.html
An "accredited investor" is:
a bank, insurance company, registered investment company, business development company, or small business investment company;
an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
a charitable organization, corporation or partnership with assets exceeding $5 million;
a director, executive officer, or general partner of the company selling the securities;
a business in which all the equity owners are accredited investors;
a natural person with a net worth of at least $1 million;
a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
a trust with assets of at least $5 million, not formed to acquire the securities offered, and whose purchases are directed by a sophisticated person.
It is up to you to decide what information you give to accredited investors, so long as it does not violate the antifraud prohibitions. But you must give non-accredited investors disclosure documents that generally are the same as those used in registered offerings. If you provide information to accredited investors, you must make this information available to the non-accredited investors as well. You must also be available to answer questions by prospective purchasers.
Here are some specifics about the financial statement requirements applicable to this type of offering:
Financial statements need to be certified by an independent public accountant;
If a company other than a limited partnership cannot obtain audited financial statements without unreasonable effort or expense, only the company's balance sheet, to be dated within 120 days of the start of the offering, must be audited; and
Limited partnerships unable to obtain required financial statements without unreasonable effort or expense may furnish audited financial statements prepared under the federal income tax laws.
Thanks, off to bed now, I'll post what I find when I get there. Good Luck.
Tejas
O.T. Do you know if Huggums is still in this one?
Tejas
That's why I keep looking at it!! If it does what they say AND they can get it to market it looks like a no brainer. My concern is are they going to have to dilute to get the funding. Dilution is not always bad, if their product is as good as they say then the potential market cap will more than offset an increase in OS.
Tejas
No problem, I've been watching this stock for a few months and thinking about getting in but I have everything locked up in another stock now. I checked the address just to see how close it was to our corporate office and was surprised to see that it was so close. I have not done much dd on this so I don't know what questions to ask other than what is happening with the SEC issue. So, if anyone has any suggestions and they are available, I'm game.
Tejas
Guys don't own any stock yet but the address for the corporate office is only about 4 blocks from the corporate office for the company I work for now. I will be in Houston for a meeting the week of Jan 21, if I have time I will try to go by and see what is happening. Any questions that you would like me to ask? I'm offering because Huggums and I were in another stock together.
Tejas
What am I missing here? Page 5 says they are paying the officers $20,000 which is fine, $150,000 for equipment, and $92,750 for the geological survey. So they chose to sell 3 million shares instead of using their cash, big deal. Looks to me like they are doing just what they said they would, increase production and have a geological survey done.
Tejas
Thanks, I will do that. Appreciate the response.
Luck,
Tejas
Guys, I started watching this stock a couple of months ago and was doing a little DD when I saw this on pinksheets.
http://www.pinksheets.com/quote/filings.jsp?symbol=EXBX
Thought I would pass it on just in case ya'll missed it. Looks like some insider selling going on, if I read those forms right, which pretty much makes up my mind as to whether or not I want to own this one.
Luck,
Tejas
Thanks. eom
Tejas
Has anyone sent an email to Bajaj to see if they will confirm that they are still in communication with the good Dr.? Apparently, they responded quickly when they though their name was used without their permission. That resulted in this PR http://biz.yahoo.com/iw/070312/0225435.html so it would give us some idea if this is legit or a scam if they respond.
I started to but didn't want to repeat it if someone already has done this.
Luck,
Tejas
I called my broker, according to them nothing unusual is going on with trading that they know of.
Guess we can still hope LOL
Tejas
Anyone have real time level 2? Look at these that are delayed:
Symbol: AURC
L2 Summary
Bid Level #MM's Size Ask Level #MM's Size
0.1200 1 5000 0.1250 6 30000
0.1150 3 15000 0.1300 1 5000
0.1100 5 25000 0.1400 4 20000
0.0950 1 5000 0.1600 1 5000
L2 Quote:
MM on Bid : 12
MM on Ask : 13
MM ID Bid Size Time
SBSH 0.1200 5000 11:39:05
NITE 0.1150 5000 11:39:05
HDSN 0.1150 5000 11:27:47
ETRD 0.1150 5000 10:44:11
VFIN 0.1100 5000 11:16:48
UBSS 0.1100 5000 10:37:46
FRAN 0.1100 5000 10:43:34
STEW 0.1100 5000 11:07:48
HILL 0.1100 5000 09:38:06
DOMS 0.0950 5000 10:10:57
SALI 0.0670 5000 10:56:18
GNLN 0.0500 5000 10:04:21
MM ID Ask Size Time
SBSH 0.1250 5000 11:39:05
NITE 0.1250 5000 11:39:05
VFIN 0.1250 5000 11:16:48
UBSS 0.1250 5000 10:37:46
FRAN 0.1250 5000 10:43:34
STEW 0.1250 5000 11:07:48
SALI 0.1300 5000 10:56:18
HDSN 0.1400 5000 11:27:47
ETRD 0.1400 5000 10:44:11
HILL 0.1400 5000 09:38:06
DOMS 0.1400 5000 10:10:57
GNLN 0.1600 5000 10:04:21
AUTO 0.2000 5000 09:31:19
Luck,
Tejas
Hey guys, I think his handle says it all if you just change one letter ... Just4Fun = Just4FUD
Luck,
Tejas
I agree, otherwise they would have played this differently. That's why IMO Salmon's info makes more sense, it comes closer to fitting what has happened than anything else.
Tejas
FastEddie, then why not say that in the PR? The best way to demand more is to have the SP at or above the bid. If they had said, "we have received an offer for $0.38 which is below our expectations and are proposing a counter offer", the price would have probably jumped to $0.38. Then they would have had a much better bargaining position don't you think?
JMO,
Tejas
Salmon, thanks for the info. Question for the board, is it legal for a "buyer" to purchase shares on the open market prior to the sale without issuing a PR stating their intent? If they can, that might explain the early release of the offer price. They had to know what that PR would do to the price, given all of our expectations posted. Maybe the true purpose was to kill the run that was shaping up so the buyer could get more shares at a discount.
Also, from what 2C has said in the past, it appeared that they were trying to develop a plan to combat the shorts. Your info makes more sense to me than anything else posted so far. If this is in fact what's happening, the buyer can get the entire float for less than $38 million and the big losers will be the flippers and shorts.
BTW, Joe thanks for your posts, very informative.
Good Luck to all of us!!!
JMHO,
Tejas
What would everyone think about Polyus being the buyer? It looks like they are in an acquistion mode. Their production cost is comparable to ours and their mines are in a lot of the same areas.
Potential Russian suitors look to domestic mineral assets
http://www.riu.com.au/news/article.aspx?id=68
Below is a link to a presentation of theirs and it includes their net profit, which is about 27%. Maybe our resident CPA could look at this to be sure. With this figure, if we don't sell, our net profit after processing all of the PMs would be about $2.4 billion. My guess is that anyone buying expects to double their money, so let's say $1.2 billion sale price, which comes to about $3.70 a share. This is different method than 2C probably used but it arrives at about the same price.
http://www.polyusgold.com/files/180545942215885419626575772071616789248/polyus_gold_slides_BMO_2007....
JMHO,
Tejas
DOS, I've done it before with no problem.
Exciting Times!!!
Luck,
Tejas
You guys might want to check the website again. Looks like the consolidated financials are there. Sorry if this is a repeat.
http://www.auruscorp.com/investor_financials.asp?sec=investor
Luck,
Tejas
Yeah, I know, it's just amusing what comes up now. Everyone's on edge and people are looking for anything to cause us to push the panic button. Granted, there are several things to be concerned about but I think I'll hang on a while longer to see how it ends.
BTW, thanks to all the longs for the DD done on this board, hopefully it will pay off in the end.
Luck from Texas,
Tejas
Correct me if I'm wrong but isn't this against a C. Cavasin? How do you get "C" from Alexander P?
Think maybe there is more than one Cavasin in Canada???
Luck,
Tejas
Guys, the financials are on the Aurus website for 12/06. em
Luck,
Tejas
Maani, try this for L2 info.
http://www.allstocks.com/html/free_level_2_pink_sheet_stock_.html
Luck,
Tejas
2C, considering the time and money you and your wife have spent I think it only fair that all interested parties pay some amount to view your report/video. Not much different than paying for a research report that you can buy on some companies(except yours will probably be worth a lot more). Thanks for doing all of the DD and being willing to share what you have learned.
Luck,
Tejas
This is really sad, if they tripled production that means they are producing about $3 million a month or $36 million a year. Even at 25% profit that is about 7 cents a share, almost what we are trading at now. Hopefully, they will come through on their promise of becoming fully reporting this quarter.
Luck,
Tejas
Golden08
Regarding the debt you mentioned, I was wondering the same thing, so this is my reasoning as to why I don’t think they paid cash for the acquisitions. In the Dec 19, 2005 PR, they state that they gave 68 million shares for Zabaikalgeoprom with 5.2 million oz of AU (plus other metals) and their OS went to 103 million. This calculates out to 13.1 shares per oz of AU, if they had used the same ratio for the next two acquisitions, they would have issued another 48.7 million shares but instead it comes to 31.8 million or 8.9 shares per oz of AU. (I’m assuming that the increase in OS from 103 million to 134.8 million accounts for these acquisitions). This makes sense to me because if you look at the new acquisitions AU as a percent of the total they come to 40.6% and of course, this times 13.1 give you 7.8 shares per oz of AU which is close given the fact that all I’m looking at is AU not the other metals.
I also tried to determine what the principles that traded their companies for AURC shares thought they were worth. I used 26.44% profit as a guide based on Polyus who has a comparable cost per oz (236 vs 217) with revenues of 473 million and a profit of 115 million. I added the percent difference between their cost and ours to arrive at my number. This is the link to the article. (http://www.mineweb.net/gold_silver/182267.htm)
Next, I assume a price of $600 per oz AU times 26.44%, which gives us a profit of $158.66 per oz. This divided by the number of shares given per oz come to $12.13 for Zabaikalgeoprom and $18.59 for the last two.
This may be totally fantasyland but it does follow a logical sequence and the worth per share I know is total guesswork but at least it gives me some idea of what they think AURC is worth.
JMO
Luck,
Tejas
My initial reaction to the share divi was "great, free shares" but after reading all of the negative posts I guess it comes down to whether or not you believe that 19 cents reflects the "true value" of this company. If you feel the price is going up, then you love it, if not---well you hate it.
What I see is that this is a great way for them to achieve their goal of moving to a higher exchange. It wouldn't surprise me that they have bigger plans than just the OTCBB and the only way to get there is to get the SP above $2. So, IMO the only way to do this is with audited financials showing an impressive EPS, assets, etc. and get rid of the short sellers. To me this PR is a warning to shorts---short this stock at your own risk!
JMHO
Luck,
Tejas
Scandium, from what I understand, is more expensive than platinum. This is some information I found about it in relation to uranium mining.
Sources
Scandium has been recovered from mine tailings, particularly from tantalum deposits and uranium ore tailings. The majority of scandium production comes from thortveitite deposits. Processing the residues from mines with tantalum is another source of scandium. In the United States, scandium was recovered from thortveitite-rich mine tailings, like the tailings of the Crystal Mountain fluorite mine near Darby, Montana. Scandium also occurs in iron-magnesium rocks and minerals in an abundance of 5 to 100 parts per million (ppm). If it could be mined, this would be enough of a resource to supply the world demand.
Worldwide, scandium resources are found in China, Kazakhstan, Madagascar, Norway and Russia. Scandium is in tin and tungsten deposits in China. In Russia, it is in the mineral apatite and associated with uranium deposits. In Norway, scandium is in large thortveitite deposits.
Geologists believe there are still significant deposits of scandium-bearing minerals yet to be discovered.
http://www.mii.org/Minerals/photoscandium.html
Luck,
Tejas
Bobby, honestly I'm not sure, but if they are selling their product at cost surely they are getting a monthly fee somehow. If anyone has more information on this, sure would like to know.
Thanks,
Tejas
Here's something for all the accountants to poke holes in. I am trying to come up with a "best guess" as to how many units will they have to sale to generate enough monthly fees to cover their expenses.
If they can keep their Selling,general and administrative expenses at $627,000 a quarter this is about $2.5 million yearly, at $20/month it will take about 10,500 units to break even.
Their increase in sales for Sept to Oct is 13.27% (granted not many data points). If we assume they have sold a 1,000 units and their sales increase monthly as it did here, then about Dec07 to Jan08 we should be at a break-even point.
Granted, I assume expense stay flat, % increase sales stays the same and they charge $20 a month fee.
Sep-06 211
Oct-06 239
% increase 13.27%
1000 Revenue
units/month Total Month Yearly
Nov-06 271 1271 $25,414 $304,972
Dec-06 307 1577 $31,547 $378,565
Jan-07 347 1925 $38,494 $461,924
Feb-07 393 2318 $46,362 $556,345
Mar-07 446 2764 $55,275 $663,296
Apr-07 505 3268 $65,370 $784,439
May-07 572 3840 $76,805 $921,658
Jul-07 648 4488 $89,757 $1,077,086
Aug-07 734 5221 $104,428 $1,253,138
Sep-07 831 6052 $121,046 $1,452,554
Oct-07 941 6993 $139,869 $1,678,431
Nov-07 1066 8060 $161,190 $1,934,283
Dec-07 1208 9267 $185,340 $2,224,086
Jan-08 1368 10635 $212,695 $2,552,345
Just my WAG
Luck,
Tejas