Let's discuss misleading statements made by Marc and GDSM.
Marc Lovito made the following false statements.
Dec 21, 2001
Additionally, the Company is in the process of securing a legal and accounting team to audit the Company’s books and records. This team will work expeditiously to make Gold Coast a fully-reporting company and move to the OTC Bulletin Board Listing Teir. It is important that the Company seek to upgrade its listing status as its mining activities progress. This will make capital in the future not only easier to obtain, but cheaper to the shareholders.
Three weeks later the same BS. I guess "expeditious" was a clear exaggeration as 3 weeks to select an accounting firm is not expeditious!
January 12, 2012
The Company continues to interview for a legal and accounting team to audit the Company’s books and records. The goal is to make Gold Coast a fully-reporting company and move to the OTC Bulletin Board Listing Teir. This move is important for the Company as its mining activities progress. The Company has not and is not currently engaged in any capital raises or selling of shares. The issued and outstanding stock remains currently at 579,887,086.
Between Jan-Mar another 50,000,000 shares were dumped into the float to "settle debt" with no explanation what debt was settled. That brought the O/S to 629,887,086. Another 25,000,000 shares were dumped in June bringing the O/S to 654,887,086 leaving less than 100M shares left in the treasury.
The funding of the project and development work on the claims was initiated in February 2012. SIX months later and still no test results from the Gold Crown buckets.
And Oct. 20th and that $100,000 payment on the JV moves closer and closer.
