Shamika 2 Gold, Inc. (fka SHMX)

[thecrusher2011]

$1,753,000 in consulting fees? What were these actually for?

"During the nine-month period ended September 30, 2011, the Company incurred operating expenses of $2,673,070 and interest expenses of $288,143 as compared to operating expenses of $119,323 for the period ended September 30, 2010. The operating expenses in 2011 primarily consisted of management fees of approximately $685,000 and legal and professional fees of approximately $155,000 in addition to consulting fees of approximately $1,753,000. The consulting fees were paid in shares as follows: 4,800,000 common stock issued to the founders, 1,800,000 shares issued to Frederic de La Forge, the Company’s COO, 1,262,819 issued to Centurion Equity Fund LLC for commitment and legal fees pursuant to an Equity line of credit facility and 1,007,565 shares issued to various consultants for services rendered."

http://www.sec.gov/Archives/edgar/data/1330323/000114420411063591/v239854_10q.htm