Silver Falcon Mining Inc. (fka SFMI)

[loanwolf]

Sorry guys but I did find the following interesting:

(And this is on topic because Pieerre Quilliam of the former DCUT that has morphed to SFMI is the current CEO, so no TOS please)

Yes, it is old news but perhaps it falls along the "It has happened before, it will happen again" school of thought.

I'm not sure what ever became of this but does not appear it was ever disputed nor brought to court but rather "settled"

However, if you look through the old filings of the former company you will also see the history of dilution and repeated raises of the A/S as well. Even this board itself has some history of the MO's of the current officers and IR and subsequent discussions regarding failed follow through on PR's. Posts around the 1700's become interesting from a historical point of view.

I don't think past performance should necessarily be just dismissed here, honestly if there were different entities involved in the WEM project I may have a rosier outlook but...............

Maybe I'm just a pessimist. lol

This was taken from 10KSB/A filing dated 7/3/2003
You will have to scroll down under Part One to Item 3 Legal Proceedings:

http://www.sec.gov/Archives/edgar/data/1110505/000111050503000018/dic10ka.htm


ITEM 3. LEGAL PROCEEDINGS

On November 19, 2001, a legal proceeding was commenced under Section 16 of the Securities Exchange Act of 1934 in United States District Court, Southern New York, against the Company and Pierre Quilliam, President of the Company by Deborah Donoghue for short swing profits allegedly realized by Mr. Quilliam. On July 30, 2002, the disinterested board of directors approved a settlement with Mr. Quilliam under which his liability was settled by applying $83,467 in loans due Mr. Quilliam in satisfaction of the claim. The court indicated by letter that it was inclined to dismiss Mr. Quilliam from the action based on Mr. Quilliam's payment of the amount due; however, Mr. Quilliam has not received a formal dismissal of the action to date. The Company elected not to appear in the action on the grounds that the court lacks jurisdiction over it. The plaintiff's attorney submitted a request that a default judgment be entered against the Company for approximately $12,000 in reimbursement of the plaintiff's attorney's fees in the action. The Company has not opposed the request for a default judgment on the grounds that existing law will entitle it to challenge the validity of the judgment on jurisdictional grounds in the event legal action is ever taken to collect it.