Goldsands Development Company (GSDC)

[snotter]

Looks like FCGD is going to walk away and let GSDC buy it up. Well at least GSDC will now own 100% of the properties. I would rather see a dredger running 24/7.

From the SEC Filing Dated Aug 15,2011

"We have discussed with Temasek our inability to fulfill the Option Requirements under Amendment No. 3 and our default on the $250,000 Convertible Note. For reasons which include our inability to secure sufficient financing to be able to cure our default on the $250,000 Convertible Note or complete our planned exploration program, we have not been successful in reaching an agreement with Temasek to further amend the Option Agreement in order revive the third and fourth twenty-five percent options. In July 2011, we received an offer from Temasek to enter into an agreement that provides for our return to Temasek of our fifty percent interest in the Mineral Rights acquired through our acquisition of fifty percent of the outstanding shares of Beardmore in exchange for the cancellation of the $250,000 Convertible Note, the $3,250,000 Convertible Note and our obligation under Amendment No. 3 to issue Temasek 6,000,000 shares of our common stock. We are currently evaluating this offer. In the event that we accept Temasek’s offer, we will be forced to relinquish any interest we have in the Mineral Rights and would not be entitled to recover the $250,000 previously paid to Temasek, the 5,000,000 shares of our common stock previously issued to Temasek or any mineral property exploration expenditures incurred to date."