It is good that you realize that, even though SFMI does not pay any taxes, it is going to sell itself to an entity that does have a tax problem.
The entity that buys SFMI does pay taxes and it will want to reduce its tax burden.
It matters that SFMI does not pay taxes because of the value proposition this presents to an entity who does pay taxes and needs tax releif by assuming the tax loss carry-forward of SFMI.
Thats not gobbledy gook, BTW.
OK... so lets think some more about SFMI's obvious intention to sell itself.
It is a given that, if SFMI can find evidence of considerable gold and/or silver resources in the Sinker Tunnel or on War Eagle Mountain, the value of the buyout will be hugely increased. If a buyer has both value in the tax benefits and evidence of gold and/or silver, the buyout situation SFMI sits in becomes the perfect storm.
The problem SFMI needs to address then is this: SFMI needs to establish evidence of gold and/or silver. Thats its present problem, and it is addressing this problem via projects it is undertaking.
SFMI is going forward in the Sinker Tunnel and it is likely to drill on the mountain this summer. And its building a mill extension, a cyanidization circuit, a lab facility it can commerciallize, and a smelter it can likewise commercialize.
Success in any of SFMI's projects will boost the buyout attractiveness of SFMI.
However, we have all been instructed that we have no choice but to conclude that SFMI is a scam.
Here's the link that is used to force us all to conclude that we have to view SFMI as a scam.
I disagree that this link is proof that SFMI is a scam.
In fact, its only one more piece of proof confirming that SFMI obviously intends to sell itself.
We've been told this quote proves SFMI is a scam. I suggest we all need to rethink the meaning of the following quote:
I don't think this extract from that filing demands that we all conclude that SFMI is a scam, and I will explain why in another post, which follows this one.
BTW, I'm aware I'm long-winded. (LOL), so I'm trying to be courteous and break up the long explanation.
Please take the time to read it, folks. You will be enlightened, I promise.
TIA,
:o)
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
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