That last 10K pretty much killed the momentum on this. They have NO MONEY and are preparing for a dilution, that's the only thing that makes logical sense here. Look at this info I pulled from the 10k to help confirm this:
December 2011 Total Assets: $1,821,184
December 2011 Liabilities: $4,704,767
The Company had revenues from the sale of gold for the year ended December 31, 2011 of $121,401 with a negative gross margin of $228,089.
Operating expenses for the year ended December 31, 2011 totaled $1,493,815.
This part, page 14 should really really catch your eye:
"As indicated herein, we have need of capital for the implementation of our business plan, and we will need additional capital for continuing our operations. We do not have sufficient revenues to pay our expenses of operations. Unless the company is able to raise working capital, it is likely that the Company either will have to cease operations or substantially change its methods of operations or change its business plan."
Page F-16 should really help bring you back to reality:
"NOTE 14 – GOING CONCERN
The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2011, the Company had an accumulated deficit of $27,185,182 negative working capital of $2,951,205 and negative cash flows from operations of $1,339,641 raising substantial doubt about its ability to continue as a going concern. During the year ended December 31, 2011, the Company financed its operations through the sale of securities and issuance of debt.
Management’s plan to address the Company’s ability to continue as a going concern includes: obtaining additional funding from the sale of the Company’s securities and establishing revenues. Although management believes that it will be able to obtain the necessary funding to allow the Company to remain a going concern through the methods discussed above, there can be no assurances that such methods will prove successful. Should we be unsuccessful, the Company may need to discontinue its operations."
Anyone who tells you that there's no indication that they will dilute the shares is not exactly being truthful. Chances are, they WILL dilute shares to fund this business. Besides, even if they don't, they're still a major major money losing company. They were quiet for the longest time and now suddenly they're putting out all of these news releases. Hmmmmmm.... smoke and mirrors.
As some say: DO THE DD!! Read the 10K itself and you'll see more there.
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