WHY THIS CEO CAN'T BE TRUSTED
Take this for what its worth, but there is a major credibility issue with this CEO. It all began after a great run from trip zeros to .048. At that same time, on November 9th, Hollis updates the OTC Markets. The O/S is left alone at 193 million, but the float gets updated to 95 million, from what was earlier thought to be around 65 million. But now the stock starts to crash and T-Trades in the millions start showing up every day. Investors are trying to make sense of the T-Trades, not wanting to believe it was dilution, because Hollis is telling shareholders that nothing has changed. Yet, most everyone now concedes that that was what was going on.
But then, things really get interesting. On November 12th, the 10Q gets filed. However, rather that stating the CURRENT O/S as of that date, which is all the shareholders really cared about at that point, the 10Q lists the O/S as of September 30th - A Big RED flag. Moreover, the T/A now gets gagged. Actually, the T/A gets gagged right after the last update on November 9th. The T/A starts telling shareholders that they now need to contact the CEO. Hollis, however, stops talking about the SS, also. Shareholders are left in the dark as the stock the stock declines almost 80% back to around a penny.
I'm betting that by now, the float at least matches the O/S, and I wouldn't be surpised if the O/S is way more than 200 million. For now, the diluting may have stopped, but it will start up again, for sure, if the company plans on doing any actually mining. A new drill program at the Basin Gulch will cost big bucks, which the company doesn't have. Moreover, they're more than a year or even two years away from any production, because after all the new drilling, a new feasibility study will have to be compiled.
Anyways, best of luck to the investors, here. Perhaps this stock will see better days. I just don't care to invest my hard-earned money with someone I can't trust. Its all a confidence game in pennyland.
