Just the facts: There are 100 million Series E authorized, 60 million issued, 4 million converted and diluted into the market, and 56 million issued which have yet to be converted and diluted into the market.
All Series E shares are convertible immediately, on the demand of the holder, and will convert at a rate of 15 common shares per each Series E share.
Keep in mind, the TA has been gagged as the outstanding Series E remain immediately convertible without correspondence to shareholders.
Series E Authorized 100,000,000 (1,500,000,000 common) Series E Outstanding 56,000,000 (840,000,000 common) Series E Converted 4,000,000 (60,000,000 common) Common A/S After Conversions (AT LEAST 1,579,887,086) Common O/S After Conversions (1,579,887,086) Common Float After Conversions (AT LEAST 1,499,887,086)
Effective A/S as of 12/22/12 1,579,887,086
Once again, the TA has been gagged and the CEO has demonstrated that the shareholders and the public do not have to be notified as conversions take place and the O/S increases. The fact that the TA is concealing the S/S activity is a strong indicator that conversions and dilution are taking place.
WILTON, CT--(Marketwired - Apr 23, 2014) - Gold Coast Mining Corp. (OTC Pink: GDSM) (PINKSHEETS: GDSM) provides the following updates:
Beta testing of the Company's unique social media site, MJ-Xchange has been going extremely well. With the tremendous support of the shareholders that volunteered as beta testers, MJ-Xchange is more robust in its offerings and attractiveness than originally envisioned. To put together a site of this quality is an arduous task and usually takes months to complete. Yet, with the dedication of the beta testers and webmaster, Barbara Carroll, the site will be launched on the targeted date of April 29, 2014.
As previously reported, the Company will be hosting a webinar on April 29, 2014 to showcase the social media offering and demonstrate its capabilities. The following are the details for participating in the webinar:
After registering, you will receive a confirmation email containing information about joining the webinar. While participants can call in, to view the full presentation, users must be online.
A major consideration for developing MJ-Xchange is to ensure its capability to generate revenue via advertising. Over the last few weeks, the Company discovered the major ad network providers, such as AdSense by Google, will not service the marijuana industry. An Ad Server is a web based tool used by publishers, networks and advertisers to help with ad management, campaign management and ad trafficking. An ad server also provides reporting on ads served on the website.
MJ related companies, including, at least initially, MJ-Xchange are left to contact potential advertisers to sell/place ads on their websites. To fill this void in the marketplace, the Company is developing its own software platform that will be used on a fee basis by any and all the participants in the marijuana industry. The Company views this product offering as potential source of significant revenue, as well as enhancing its visibility in the industry. Updates will be provided as the product is developed.
Finally, the Company, via legal counsel Atkins Intellectual Property, filed an application to trademark its new brand, under which its products will be sold. Products will range from accessories (e.g. vaporizers) and apparel. Initial product offerings will be limited in number with a focus on quality of product versus quantity of product offerings.
Initial samples have been ordered and these products will be rolled out once management determines its acceptability to appropriately represent the Company in the marketplace. These products will be prominently displayed and offered on MJ-Xchange, as well as, other sites.
Gold Coast Mining Corp. is a holding company with interests in the MJ industry, as well as the mining and energy sectors. The Company's goal is create a vertically MJ division and continue its diversification into other high growth industries. The primary goal is generate cash flow to sustain and grow profitability.
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
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