Replies to post #10988 on Rainmaker Worldwide Inc (RAKR)

[Huggy Bear]

I know they have claims, which mining scam does not? Do they have permits to mine any of them in the current moment is what is kind of important.

Then we can actually discuss having the money to mine, which is "coming soon" via a 12.5M financing package I hear lore of.

Here is the reality. They will not get any traditional financing. They may be able to engage toxic convertible debt notes, actually it appears that may be no problem.

Got share structure? Got credit.

Really bad credit for investors every time.

[gitreal]

LOL.....there has never been a question that CJTF has valid mining claims, yet it keeps being offered up as proof of this company's legitimacy. It is just about the only legitimate thing about this company - everything else is a fraud.

Someone posted that the fact that CJTF owns claims which is very rare for a pinksheet - not so. Just about every pinksheet and OTC mining scam that I follow has either valid mining claims, or actual real estate. That is the foundation for the "story" that these companies then proceed to weave. The claim ownership aspect seems to lull investors into some kind of false sense of security that no scam would actually own valid mining claims. That is the definition of naïve.

Heck, a person can go out tomorrow, throw some claim markers out, and file a claim and pay the fee - voila, you have a valid mining claims (assuming you followed the rules and didn't overstake some other claim, or overstake private land).

Speaking of that, Einar Erickson, the guy that sold CJTF these mining claims in Nevada, was ordered to testify in an IRS case brought against some of Einar's investors. Einar did not fare well in his testimony. Not only did he not know where some of his claims were, it was shown that some of the claims in question were overstaked on active claims or on patented land, and were therefore invalid. He was selling these invalid claims to investors, and then to top it off, he was advising them to donate their worthless claims to BYU and claim an exorbitant tax writeoff based on a value that Einar made up for each claim. For example, some of the deductions being claimed were as high as $120K per claim, when the BLM expert witness testified that claims like those typically were available for less than $1000. Guess where the claims were located - in the Reveille Mine area, exactly where some of the current CJTF claims are. I wonder how much Fred paid Erickson for the claims? Probably way too much.

As with just about every court case that Einar has been involved with, he looked like the con-man that he is. But as usual, he skated free since he was not the one on trial. His poor investors did not do so well, and their deductions were rejected.