If anyone has access to 144 filings that will probably show where shares are coming from, they may not show the amount of convertible shares hitting the market.
I am unsure why anyone would be surprised at price dropping if shares are issued for services and convertible notes being satisfied through share issuances at a discount, and finally investor relations that misses the boat on release key infromation and believable timetables to the public. For those surprised the price is dropping considering key attributes to this stock, then that leads back to quality and effectiveness of their IR in my opinion.
Fact sheet is dated February and while still avoids key questions, it is an update and management still holding to its timetable so either they are very sure of their projections, or fail to see after a 5000 to 1 reverse split importance of absolutely meeting projections to build credibility.Pretty gutsy not using book assets values but some sort of market estimate, and continuing to throw out values of metals in the ground without extraction costs applied or capital required.
However I questioned lack of updated timetables and while they still avoid key basic questions, it is to their credit that the fact sheet is dated February and they do state when they will be in production, so now we wil lsee.
But I will say with CFO having a second on the mill and voting control via preferred shares, what happens if he misses the boat again on these projections ? Will he then relinquish voting control and his second and appoint new management, putting shareholders first as a fidicuiary obligation as an officer of the company ? What is everyones opinion- should there be a point past which if no success he should step down ? Is that Octoebr this year ? January next year ? Is CFO's moral obligation to himself or the shareholders ?
I read various questions etc, and it just seems 90% of all questions raised about this stock can be answered by the company- I just find it frustrating this quiet time, I just dont feel this marketing strategy is working.
AI
