Replies to post #69300 on GNCC Capital Inc (GNCP)

[BTCGoat]

I sent the company an email just now expressing my frustration in a well mannered way.

As per the PR:

The company solely as a Mining Exploration Company, which is subject to volatility in the prices of precious metals, would continue to seek large amounts of funding to meet its objectives. The current terms of that funding are not acceptable to the Company's Management nor would they best serve the interests of stockholders.

ACQUISITION OF INTERESTS UNRELATED TO MINING EXPLORATION:

Like really?? Lets just give up on mining all together now since we acquired all the money for these properties once...WHY NOT DOUBLE DOWN AND GET ANOTHER $28+ Million from investors with other shell companies and MAYBE help out the investors by acquiring other non related mining companies...

I am not bashing...Just now starting to see...Unfortunately...what this company is really doing.

[Charlie3274]

It is corporate speak of who really owned everthing in the first place!

[SevenTenEleven]

GNCP - Yes. You are correct. DD to the contrary is incorrect.

I am sticking with the PR and not with claims to the contrary.

Good Luck!

[jufel]

It sounds like a way to sell the properties and rights etc without really selling them except to themselves. How this move "screws shorty" I don't know.

BornAtNight

I have the sensation thatthe Actual management is looking for A Buyout of the whole company. The company 's Balanced sheet is restructured as to appear as a net positive one . Also, By buying 2 profitable companies GNCP is becoming cash flow positive and when they finish valuation ( Terravision + Drilling ) on the mine assets of their now mining companies then they will be able to sell successfully GNCP.

Shorties should cover the rest of their position. GNCP initial plans to Buyback is cleared now and if my feeling is right a Company Buyout could screw any short position. They have time to cover but IMHO they should be nimble.

[TenKay]

This is a well worn stinkie pink path of stripping assets from GNCP. Basically an admission that the gold play here is done. They are arbitrarily assigning a value to a self owned asset so as to inflate the balance sheet. They will also be converting a bunch of the convertible debt into preferred shares...which is almost exactly the same thing as far as common shareholders are concerned in terms of dilution potential and then buy some "business" that is likely a collection of smoke and mirrors to see if they can get another few billion shares into the market.

Eventually those claims will go back to Baumann through some other scam transfer. In the meantime another public entity will be tee'd up to dilute into and GNCP holders will be left just like past Lumb scams like FFGO with the promise of some liquidating dividend that will never come but perhaps keep the nasty emails at bay.