Advantego Corporation (ADGO)

[Digrdoug]

More fish smell??

By: goldenlistsjimbishop $$$$$
31 Oct 2002, 02:27 AM EST Msg. 40043 of 40059
(This msg. is a reply to 40004 by ann483.)
LOL A little more DD. GOLDEN EAGLE INTERNATIONAL, INC.

Sorry, no RB links here, all from SEC filings etc.

246,526,620 o/s as per ta mid July 2002
25,000,000 TT options at .075
20,000,000 Mary options at .075
20,000,000 S-8 shares available as per filing
59,497,193 CD re accredited investor #1 as of Dec 31/01
3,941,666 CD re accredited investor #2 as of Dec 31/01
30,166,666 CD re accredited investor #1 Q1 2002
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405,132,145 plus any additions in Q3 2002
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http://www.freeedgar.com/search/FilingsResults.asp?SourcePage=CompanyList&CIK=869531&UseFram...

The last few filings seem to disagree on what the terms of the CD's are.

The last 10K says:

"As discussed elsewhere in this report, all of the convertible debentures that we have sold have been under the same terms, or have all now been modified to be under the same terms:

Principal and accrued interest are convertible at any time, in any proportions, prior to Golden Eagle given notice of its intent to repurchase the debenture, at 50% of the average closing price for the previous three trading days, or $0.03, whichever is GREATER.

From the 08/14/02 10Q

"In January and February 2002, the Company issued convertible debentures totaling $905,000. The debentures are due in a two years; interest accrues at 10% per annum; conversion of loan amount and any accrued interest, or any part of those sums, at the election of the holder, to shares of common stock of the Company; at a conversion rate of the LESSER of $.03 per share or one-half of the average closing price during the last three days prior to conversion."

From the 10Q 5/20/02

"a conversion rate of $.03 per share or one-half of the average closing price during the last three days prior to conversion, whichever is LESS"

From the 10Q 11/19/01

"a conversion rate of $.03 per share or one-half of the average closing price during the last three days prior to conversion, whichever is less. However, the minimum exercise price is FIXED at $.03."
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Insider buying..........nope, kinda the opposite:

http://www.nasdaq.com/asp/Holdings.asp?FormType=form144&symbol=MYNG&selected=MYNG

http://www.nasdaq.com/asp/holdings.asp?mode=&kind=&symbol=MYNG&symbol=&symbol=&s...
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Promo, oh ya, here's the last few.

http://www.ceocast.com

"The Company has agreed to pay CEOcast, Inc. $6,000 cash per month and 50,000 Shares of Restricted Stock per month for a sixth month Program."

http://www.alliancecorp.ws/disclosure.htm

"Golden Eagle International, Inc. (MYNG - NASD OTCBB) The term of this investor relations contract is one year, beginning May 1, 2002. Compensation is 1,000,000 shares, 500,000 on signing and 500,000 six months after the date of signing the contract."

http://www.wallstreetweb.nl/

http://www.smallcapital.com/index2.html

http://www.europeanalyst.com/home.html

Look up the disclosures yourself.
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Dilution, hey it's a jr jr jr mom and pop largest gold mine in the world....of course there is dilution.

"During the quarter ending June 30, 2002 Golden Eagle used its common stock directly to raise capital and to satisfy some of its obligations. We issued a total of 13,358,698 restricted common shares for cash to unaffiliated, accredited investors at between $.03 and $.05 per share, to raise $431,161."
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"Advances to officers $ 636,667"
"Loans from related parties $ 1,281,098"
"Bank loan payable $1,000,000"
"Accrued compensation and taxes $757,613"
"Accrued interest payable $824,527"
"Total current liabilities $3,986,269"
"DEBENTURES PAYABLE $2,970,000"
"Deficit accumulated during the development stage ($21,791,149)"
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