Brookmount Exploration Inc (BMXI)

[SooS416]

IT is possible it is a good use of cash but when they have shown over the past 3 years to have made $2.1M in cash from operations and have only $126k in cash with the only increase is assets over the 3 years relating to land rights and a receivable (loan) made to a 3rd party it is concerning.

In fact the receivable is even more concerning as there is very little details on what it is and what it was used for, I'm sure they would say it relates to the mining operations and the current leech pad expansion but to say there is little information and transparency is even an overstatement.

The growing concern is they have their cake and eat it too, they can sell unregistered shares to make money or to keep offshore people happy selling small amounts of shares while they can siphon cash off the top with fugazi accounting.

This is why I have stressed the importance of an audit to validate the numbers as if they are all valid and on the up and up they the financials look good, but I have seen OTC creative accounting before and how cash has a tendency to vanish out of thin air whether there are valid operations or not