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Thursday, November 04, 2010 10:14:16 PM
There lies the problem! The findings of the report were not verified by an INDEPENDENT agency but a member of the Board of Directors, Mr. Andrei Yasinskij, which represents a serious conflict of interest. It's like me auditing my own company - of course I am going to give a positive finding!!
The NI 43-1-1 clearly states that Qualified Person be..." independent of the issuer and the property..
Mr. Andrei Yasinskij is about as INDEPENDENT with Supatcha as I am to my spouse!!
Furthermore, if you read the 8K filed in Dec 2009 (http://secwatch.com/filings/view.jsp?formid=2514065) and you will see it is Andrei Yasinskij who has a finance background with a Master's degree in Economics Relations, and is the head of a Foreign Private Investment Company (red flag). The 8K mentions NOTHING about his mining education or experience, only his business experience. He is proabbly a master of naked shorting his own stock from foreign soil. You have to ask yourself why VERT has been dumping so much of this stock lately!
Then in the Form 10K filed in June 2010 (http://secwatch.com/filings/view.jsp?formid=7309658), this dude suddenly gets 25-years Mining background...and only six months has elapsed since the Form 8K filing!
As late as July 2010, the auditors of this company "raise substantial doubt about the Company’s ability to continue as a going concern."
"The Company has accumulated a deficit of $131,430 and has used cash from operations of $97,993 since inception, has yet to achieve profitable operations and further losses are anticipated in the development of its business, raising substantial doubt about the Company’s ability to continue as a going concern."
The NI 43-1-1 clearly states that Qualified Person be..." independent of the issuer and the property..
Mr. Andrei Yasinskij is about as INDEPENDENT with Supatcha as I am to my spouse!!
Furthermore, if you read the 8K filed in Dec 2009 (http://secwatch.com/filings/view.jsp?formid=2514065) and you will see it is Andrei Yasinskij who has a finance background with a Master's degree in Economics Relations, and is the head of a Foreign Private Investment Company (red flag). The 8K mentions NOTHING about his mining education or experience, only his business experience. He is proabbly a master of naked shorting his own stock from foreign soil. You have to ask yourself why VERT has been dumping so much of this stock lately!
Then in the Form 10K filed in June 2010 (http://secwatch.com/filings/view.jsp?formid=7309658), this dude suddenly gets 25-years Mining background...and only six months has elapsed since the Form 8K filing!
As late as July 2010, the auditors of this company "raise substantial doubt about the Company’s ability to continue as a going concern."
"The Company has accumulated a deficit of $131,430 and has used cash from operations of $97,993 since inception, has yet to achieve profitable operations and further losses are anticipated in the development of its business, raising substantial doubt about the Company’s ability to continue as a going concern."
