GNCC Capital Inc (GNCP)

[tommyedwards]

GNCP...Yes, OUTRAGEOUS VALUATION of $3+ is complete nonsense!!! (but $1 is not...IMO)

http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=205533

4. Your Directors consider it highly improper to comment upon their valuation of the
Company’s Mining Exploration Properties. Our accounting treatment was always that the
impairment charges were taken and immediately upon the acquisition of these properties.
However addressing as to what we offered to the various holders of our shares of secured
Preferred Stock remains confidential and they are not likely to accept the offer (we will
address in more length). Shareholders have communicated valuations to ourselves that
range from as low as $0.0005 to as high as a few dollars per share of our Common Stock.
We will comment as follows: No, we would not entertain a price of $0.0005, that is
patently ridiculous and conversely to value the Company at a few dollars per share of
Common Stock is complete nonsense. In our private and unsubstantiated opinion, any
valuation is north of the low suggested at $0.0005 per share of Common Stock; any
valuation is however solely in the opinion of your Directors. An accurate and updated
value of the properties will be only be material to shareholders should the Company elect
to dispose of the same and to then distribute the proceeds; and that would entail an “arm’s
length” valuation being undertaken.