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Alias Born | 10/02/2009 |
Friday, August 27, 2010 2:33:26 PM
Without doing a search of the term 'gag' on the board, I spoke with Carolyn at Transfer Online who shared she couldn't release the O/S. So, the TA is gagged. When I did a search, I found that several others had already taken this step but withheld responding to my previous inquiries. I did find this beauty of a post...
"As far as the TA being Gagged, I've never heard the term until recently and is curiously interesting. First, TA can't release non-public information. Second, a TA does not represent the company, as I have been hired to do. Further, there is a cost associated with the TA forwarding the messages to us, hence we find no reason to pay such a cost when my contact information is available to all."
Are you kidding me? He's supposedly IR and actually said he 'never heard the term'. Yeah, OK. TA 'can't release non-public information'? Who is deeming the share structure 'non-public'? TA's do represent the companies shares and for him to direct inquiries to him or the TA directing inquiries to the company is BS. As for him saying he's 'available' is ridiculous as he doesn't return calls or emails.
The fact the company has self-reportedly increased the O/S from 106M to 121M since January 1 and more of a concern raising it from 111M to 121M from June 21 to June 30th without explanation or justification combined with the recent significant dumping of shares along with a gagged TA should reaffirm everyone's concerns regarding dilution. Fact is, no individual share holder can verify that even 121M shares are outstanding at this point. Shareholders are simply to rely on the company who solely benefits from further liquidating shares on the backs of its owners further driving down the share price.
It is my recommendation that shareholders no longer support CGAQ until the company or its IR can provide true 'current information' and provide greater transparency by making available its outstanding shares and committing to a share moratorium to allow the share price to recover.
GLTA
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