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Wednesday, May 16, 2012 8:37:17 PM
ISSUANCE OF SHARES FOR SERVICES
Valuation of shares for services and other acquired assets were based on the fair market value of services received. For the three months ended March 31, 2012, 111,900,000 restricted shares of common stock were issued for various services to the Company.
This company is so strong it can literally print share certificates and use them like cash! What is even better is that the shareholders do not care about an increase of 20% in the outstanding shares in a quarter if the resounding silence about the topic on this board is any indication.
As for the ungodly profits part...please keep in mind that Ecuador has declared loudly and proudly to the rest of the world that they intend to set a precedent for taking the largest piece of the pie. They will take no less than 51% of the profit from mining operations. This ties directly in to your other point about interest from a major. Nobody is going to be taking over anything in Ecuador until the smoke clears. Kinross still has no deal on FDN. Only one of the five strategic projects has been signed. Salazar did get an investment of several million from Silvercorp recently but I would not expect a takeover until the ground rules are established.
tsl
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