Talbot ran a scam at MSITF that had no real revenue or even a real product. When that was milked dry, he walked away and just left it trading. It didn't even have value as a shell. It took a while for folks to realize there was no one at the wheel. Then Talbot resurfaced running NWGC purportedly mining gold. Problem is, they did not own the mine they claimed they owned. A select circle made money by "loaning" money to the company and having the right to convert at .0001. For a while the market price was above that, so they could loan money, convert the debt into stock at .0001, sell the stock at .02 or whatever, and repeat. The notes continued to accrue interest, and even with the conversion of "debt" for shares, the outstanding debt continued to increase. It was a constant payday for the note holders. They could continually sell shares for multiples of what they were converting, yet the balance on the notes still increased.
After a while that blew up and Talbot walked away again and left it trading. NWGC never had audited financials, and was nothing but a scam. The only value would have been as a clean shell, which could be worth in the area of 400K. But NWGC was hardly a clean shell when Talbot left. The transfer agent was gagged. God only knows how many shares were issued or what the liabilities were, so you can't even say there was value as a clean shell. Now along comes Miller who buys shares in this mess and wants to roll some basically worthless mining claims into this shell. At one point this had a market cap of around 40 million. Assuming the mining claims had any value, you wouldn't want to roll it into a company with no assets but already worth 40 million, as that would just dilute the value of whatever you were contributing. Unless of course you could make money selling some of those shares that were bought for almost nothing. Lastly, take a look at who controls this. The one share of series A preferred has control, same as when this was a scam under Talbot.
