Atacama Resources International Inc (ACRL)

[Tiresias]

The second part of the process is the unknown. Because Atacama likely violated the cease trade order raising money by selling the preferreds those issues are not dealt with by the accountants but by the enforcement department. This is where it could be difficult for Atacama. I am of the opinion more action may be coming against Atacama and I think the first sign of this is the variation order-they are lining things up by making sure the proper defaults and the years for them are air tight.

Company made several statements that were offside and confirmed by Mr. Berry and Mr. Keith.

1-the company stated the cease trade order may never be lifted
2-company cannot sell shares to raise capital because of the cease trade order BUT they did sell shares to raise capital during the time the cease trade order was in effect.-not allowed
3-Atacama stated investors buyng preferreds could not lose - not allowed
4-Company used assay results in their promotional materials used to sell the preferreds that were not compliant-not allowed
5-company stated they were going to the Nasdaq (actually they first stated they were going to the TSX until a poster stated company going to the Nasdaq then the promotion materials changed from TSX to Nasdaq) but no matter, what they said about the Nasdaq or TSX was not allowed to be said.
6-company stated they thought the shares had a certain value, at the time about $1.99 cents higher than the price when it was made-not allowed. You cant give a projected value of the shares when trying to sell them.
So if anyone thinks the Alberta/Canada regulator like the OTC just accepts the financials is wrong and much the same thing was said to me but if you ask questions you find that yes, if the audited financials are acceptable the company then has to ask a panel of judges to remove the cease trade order after they have been examined and accepted. They will be gone through with a fine tooth comb. If is was that simple why have they not filed them? I mean they have had six years to file each year on its own and three years since the cease trade order was put on them.