RITE’s filings show net tangible assets or revenues high enough
That is what they try to foist off, in that Form 10. It IS a blatant lie, as they have nothing.
I have repeatedly explained why they have nothing. Even if the AZLD ever allows the leases to renew, which should NEVER happen, they still could not put a monetary value on said leases.
In fact, even if they had the piles of old desert dirt augured and assayed and it somehow proved to have some value ( which is impossible--all that is there is mined over tailings from an operation many years ago), the SEC does not allow a monetary value to be placed on an in ground ore body, even if a feasibility study has been done. The gold produced was at a grade of 0.005 opt,well below economic.
By the way, they claim to have some new fangled prorietary method to recover far more gold than was recoverable by the methods at the time. That is also a lie, as no such method exists that is markedly better. Feel free to approach gitreal, who is a working geologist, who would settle that issue.
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