Global Gold Corp. (GBGD)

[BMAV]

GBGD is not evil.......they are acting against SEC regulations by making false statements in their filings, using a foreign criminal justice system to gain advantage in civil lawsuits, corrupting government officials in Armenia.

This is not "evil" it is illegal.

Now they screwed their last Joint Venture partners out of $5,000,000 and it is never their fault. How unlucky are these guys or how corrupt are they? You decide!

The ringleader is Mr. Van Z. Krikorian, a member of the New York Bar, Corporate Counsel for Global Gold and its Chairman, CEO and Director. And probably not too far behind is hedge fund opertor, and majority shareholder, Mr. Ian Hague, of FireBird LLC, who was out of pocket $5,000,000 in loans that he converted to stock. It is interesting that Consolidated Resources got scammed out of $5,000,000 the same amount that Ian Hague was out. A coincidence? I think not.


See 8-K filed by GBGD on October 19, 2010


As of October 15, 2010, Global Gold Corporation (the "Company") has outstanding loans plus accrued interest totaling $5,312,642.95 from three of the Company’s Directors, Mr. Ian Hague ($5,052,262.27), Mr. Nicholas J. Aynilian ($154,030.68), and Mr. Drury Gallagher ($106,350). On October 19, 2010, the Company’s non-interested members of the Board of Directors approved a restructuring in aid of settlement of all this debt to extinguish and convert this outstanding debt. Pursuant to the restructuring, the loans were cancelled and became convertible into shares of the Company’s common stock at $0.15 per share. As of October 22, 2010, the Company has been given acceptance for the entire conversion. The transaction will benefit the Company by reducing the current debt by $5,312,642.95 and eliminating the interest from continuing to accrue on these debts. The Company will issue a total of 35,417,620 shares of the Company’s common stock which will be restricted in exchange for the debt cancellation. The conversion of debt by Mr. Hague will not impact his 1.75% NSR royalty on the Pureo property in Chile and will remain in force.