It is over Gene. The company admitted it was selling equipment. No gold has been produced since a year ago, and even then it was pathetic production considering the talk about "amazin' rich ponds", veins disappearing into the far off hills, and extending down 5,000 feet, etc.
The "guy in charge" is indeed incompetent. But PT didn't set up and run this hobby mining company by himself. Someone counseled him, guided him, etc. on how to do the paperwork, what should go in filings, PRs, worked with toxic lenders, etc. I wonder who that was?