GNCC Capital Inc (GNCP)

[Tgarfield2]

There is no reason at all to think they are worth more than they paid for them. Zero reasons. Previously shareholders had a mistaken believe that their was work done. But filings all show zero exploration, zero radar, zero drilling, zero anything was done.

The money is not that big for the opportunity to rent unexplored small claims. They would at best get what they paid for them since they have not improved them. That would not pay off the preferreds. They also overpaid for them since they never used any cash at all. That is reality.

The latest filing states that any sale will be used to cancel the secured preferreds. It does not say anything is left after that.

As shareholders are aware, the Directors are contemplating various scenarios in respect of the Mining Exploration Property interests; only if it best serves our shareholders’ interests. Any such transaction would involve the disposal of these three subsidiary companies, the cancellation of all secured shares of Convertible Preferred Stock and the elimination of all Accrued Dividends Payable on those secured shares of Convertible Preferred Stock. The Preferred Stock referenced are the Series “A” and Series “C”.