Thank you for posting that here Whistles........................All information is good..and it would appear your find and excellent DD is not in line with what the company put out on its website...here is a post of the information for reference as it was displayed on the website at the time of the following post..............Whistles CONFLICTING DD FOLLOWS THIS POST..........
Posted by: Klonopin2mg2000 In reply to: None Date:4/2/2007 11:44:17 AM Post #of 10805
AGAIN!!! ALL!!! IT'S NEW ON THE WEBSITE UNDER "ABOUT US" AS A LINK "About Us: FAQs and Answers"
THIS IS ALSO VERY IMPORTANT TO READ!!!!! THANKS!!!
About Us: FAQs and Answers
The aim of this document is to provide adequate and current information to our shareholders.
For the purposes of this document, we will also utilize the special services of the super "Basher Buster" so that during your reading every time you see an answer from "Buster" please read carefully as the answer is in response to the "Basher" statements.
1) How many shares are issued and outstanding?
34,703,583 outstanding shares.
2) I was told that this is a Pump and Dump stock, is this true?
"Buster" When a Pink Sheet Company commences its operations it is common and regulated practice that shares are initially sold to allow new shareholders to participate and secondly to fund start-up costs. Pump and Dump stocks usually have hundreds of millions of shares outstanding. Our Company only has 8,000,000 shares that are not under our control. In the beginning of January our stock was trading at $0.012 (i.e. 12% of a penny) and thus it is logical to surmise that the founders of the Company sold stock at a very low price per share to allow new shareholders to come on board and take advantage of the investment opportunity. Think about it!
3) How does the Company finance its operations?
In January 2007 the Company received a $150,000 loan as a payable note advanced by a controlling shareholder for the payment of consulting fees, site surveys, geologic analysis and other operating expenses. The note bears interest of prime + 3% and is payable when the Company obtains financing from financial institutions based on its proven reserves, and 43-101 reports.
4) What is a 43-101?
National Instrument 43-101 (NI 43-101) is a rule developed by the Canadian Securities Administrators (CSA) and administered by the provincial securities commissions that governs how issuers disclose scientific and technical information about their mineral projects to the public. It covers oral statements as well as written documents and websites. It requires that all disclosure be based on advice by a "qualified person" and in some circumstances that the person be independent of the issuer and the property.
A qualified person (QP) is defined in NI 43-101 as an individual who: a) is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; b) has experience relevant to the subject matter of the mineral project and the technical report; and c) is a member in good standing of a professional association.
NI 43-101, together with its Companion Policy 43-101CP and Form 43-101F1 Technical Report can be downloaded from the Canadian Council of Professional Geoscientists website.
6) The Company announced that it has signed a financing agreement with Trimax Capital Group. How is this possible and what are the terms?
"Buster" Trimax Capital Group is a privately owned Alberta Corporation specialized in providing non traditional financing tools and equity-based joint ventures to development stage oil and gas and mining Companies via a structured notes financing method. Trimax works as an intermediate broker or as an equity partner in ventures with prominent international banks and financial institutions. Financing and equity is potentially available based on the proceeds from asset investments, including but not limited to: cash, proven reserves assets, 43-101 and other financing tools. Structured financing is a well-recognized and time-tested practice that is offered by many financial institutions.
7) What is structured financing?
1. A synthetic medium-term debt obligation with embedded components and characteristics that adjust the risk/return profile of the security.
2. An instrument whose value is determined by the price movement of the asset underlying the note. It allows investors to realize a profit from favorable price movements.
A structured note is a hybrid security that attempts to change its profile by including additional modifying structures. A simple example would be a 5 year bond tied together with an option contract for increasing the returns.
Hybrid products
What it Means A security that combines two or more different financial instruments.
In Other Words Hybrid securities generally combine both debt and equity characteristics. The most common example is a convertible bond that has features of an ordinary bond, but is heavily influenced by the price movements of the stock into which it is convertible.
New types of hybrid securities are being introduced all the time to meet the needs of sophisticated investors. Some of these securities get so complicated that it's tough to define them as either debt or equity.
Structured Financing
What it Means A service offered by many large financial institutions for companies with very unique financing needs. These financing needs usually don't match conventional financial products such as a loan. Structured finance generally involves highly complex financial transactions.
As soon as the 43-101 and lab results have been completed.
9) Someone said that only Canadian Companies could claim territories, how could Globex acquire claims and cells?
"Buster" For the past four years, Québec, located in the northeastern part of North America, has been rated the most attractive jurisdiction in Canada for mineral exploration investment, according to a Fraser Institute survey. Québec ranked 1st worldwide in 2001-2002, 2nd in 2002-2003, 4th in 2003-2004 and 3rd in 2004-2005 for its exploration investment attractiveness.
First of all, Québec has tremendous mineral potential, as indicated by the presence of several world-class ore deposits. Consisting of 90% Precambrian rocks, it is renowned for its precious and base metal production, namely for gold, copper, nickel and zinc. Moreover, Québec is the world's second largest producer of niobium and titanium slag, and is also the world's largest exporter of aluminum, and the second for magnesium.
One of most explored territories in the world
Québec's territory is vast and open to exploration as recent diamond, base metal and precious metal discoveries indicate. Exploration in established mining camps continues to yield very promising results, the latest example being a major discovery of base and precious metal mineralization at the LaRonde mine in the Abitibi region. Active mining titles cover less than 5% of Québec's surface area. Thus, vast expanses of land have yet to be explored in detail. The government wants to attract new investments to develop Québec's mineral wealth, from the Far North to the U.S. border, and invites companies from abroad to come discover its true potential.
Mining regime
As opposed to what may be common practice in other states, the mining regime in Québec is based on the principle of free mining, which provides universal access to the resource. Thus, the first to obtain a mining title automatically obtains the exclusive right to search for mineral substances and the assurance of obtaining a mining lease upon request.
Mining tax system
Québec's mining taxation system is one of the most advantageous in Canada, featuring one of the lowest taxation rates, and a 12% credit on duties refundable for losses for exploration, deposit appraisal and mine development activities that is unique in Canada. In addition, Québec offers businesses having establishments and that carry on activities in Québec a refundable tax credit for mineral exploration activities, covering up to 45% of exploration expenditure. Québec also supports the industry at each stage of its development, from discovery through processing.
Expertise and know-how Québec's strengths include not only its raw materials, but also its highly-trained workforce, its training facilities and its specialized research centres. Québec is a world leader in the collection and processing of geo-scientific data, and its spatial reference database Sigeom is unique in its category. In addition to reducing the time needed to obtain data, Sigéom can make an exceptional contribution to the decision-making process.
Infrastructures
• Highly-developed road and rail networks. • Three international airports. • Several sea ports with access to the Atlantic Ocean. • Abundant, competitively priced energy
Extract from www.mrn.gouv.qc.ca/
10) I was told it's impossible to drill in the winter because it's too cold and there is too much ice on the ground, how can Globex have teams on the field?
"Buster"First of all, winter is the best time to drill since it is easier to move equipment around through ice-covered roads and take short cuts on frozen lakes. A majority of the key mining area is in swampy surroundings. Modern drilling equipment is made to drill through hard rock, so don't you think it can drill through ice? Think about it!
Take a look at a US OTC company drilling during the winter:
11) I've heard it's so cold in Ungava Bay; when planes fly over the territory they freeze instantly. Is this true?
"Buster" Every day planes leave JFK airport destined for China. They fly over the North Pole 30,000 feet above the ground. Where do you think it's colder? Think about it!
12) When will the Company begin extraction?
The first task is to assess the value of the proven reserves and then secure non-dilutive financing for working capital such as: line of credit from financial institution, structured notes, and other financial tools.
13) Does the Company have staff and equipment to begin extraction?
The Company is specialized in exploration. When substantial discoveries are made the Company can either employ external services that are abundant in Northern Quebec or enter into joint ventures with operating Companies. Obviously the better the Company's access to cash, the more favourable or advantageous JV agreement terms it can secure.
14) The Company announced moving its headquarters to Orlando, Florida. I heard that the decision was largely based on management's desire to bask in the sun, please explain?
"Buster" The first reason why the Company is moving to Orlando, Florida is to facilitate bank transactions and operations between a US Corporate account to a Canadian operating account. The Royal Bank of Canada offers combined services allowing management to receive proceeds and investments in the State of Florida, and easily wire funds to our Northern Quebec offices for operational purposes. Secondly, the relevant corporate tax rate in Florida is below 30% as opposed to more then 50% in Quebec. So when the Company begins to generate profits it will have a serious impact on shareholders' dividends.
Now if we would have chosen the State of Nevada, for example, do you think the "bashers" would have said "they are moving to Vegas to gamble"? Think about it!
15) Why can't we speak to the new Board Members?
Because they are external, objective and reputable individuals who have joined our team to assist in maximizing our growth and profit potential as a development stage company, according to Corporate governance directives set by the Board of Directors. In addition, they make a significant contribution to the Company's knowledge pool with their respective business expertise, work experience and contacts. They will be attending 6 meetings a year and will receive stock or option compensation for their work, which is common industry practice. They are non- executive directors and an additional 3 members will join the board including: a CEO, a CFO and a geologist.
"Buster"Considering the numerous attempts from external parties to contact and perturb our new board members in their daily responsibilities, the Company would like to inform everyone that it will create an email box which the new board members will be able to access at their convenience, and that under no circumstances should they be bothered in their own duties. Think about it!
16) I received an anonymous email bashing your Company, and read the same comments on investment boards, is it true?
"Buster" First of all, on March 23rd starting at 5 am. a massive emailing and posting campaign began simultaneously, which originated from different sources. So is this kind of practice done by a defender of shareholder's rights or by hostile concerted parties? Think about it!
Secondly, a lot of our shareholders were advised to sell shares in the Company by the same parties who presented them with another stock recommendation. Think about it!
Since the beginning of the year our Company has completed a significant amount of work; accomplished several corporate goals; and informed its shareholders of its activities on a weekly and continuous basis by: issuing press releases, creating and maintaining its Web site, answering phone calls internally, responding to emails, etc.
The corporation is up-to-date in its filings and has always informed the public and shareholders that we are in the development stages and disclosed all forward looking statements and risk factors as per OTC regulations.
The Company also hosted several shareholders in our offices, and we are currently in the process of preparing financial statements and disclosing documents.
In your opinion is all this signs of a real Company? Think about it!
17) Why did the stock price move down from $ 0.39 to $ 0.10?
Firstly, the Company has a duty to focus on the operations and not on the stock. But obviously it has an impact on the potential ongoing negotiations and financing. If we would have to make an educated guess, the above-mentioned email bashing campaign more than likely has something to do with it.
18) How does the Company plan to overcome that issue?
1) Continue to accomplish our duty by focusing on operations. 2) Continue to inform our shareholders and to increase the public awareness on our Company. 3) Continue to conduct research on our properties and prepare all geologic reports and analysis to financially leverage our assets. 4) Nominate additional qualified executive officers and Board members. 5) File all necessary documents to uplist our Company's stock. 6) Employ professional legal services to protect our Company against illegal interference. 7) Sign an Investor Relation (IR) agreement with a credible organization.
"Buster" We received numerous proposals from IR firms who were promising the moon and claiming that they knew large groups of investors. They would take "Discounted Free Trading Shares" and so on and so on. Curiously some of them utilize these investment message boards to recruit investors. Even more some of them were sending emails on March 23rd at 5 am. Think about it!
19) What does naked shorting means?
The Practice
Short selling is the practice of borrowing stock, then selling it in hopes that the price will go down and it can be bought back at a lower price, generating profit and allowing one to return like shares for the borrowed ones.
"Naked shorting" refers to "shorting" a stock for sale without first borrowing it.[1] The risk that one may not be able to then acquire the shares needed to deliver on the sale is a contributing factor to the controversy surrounding this practice.
On American exchanges, pursuant to Rule 203(b)(2) of Regulation SHO these short sales of securities may be legally permitted: (1) broker or dealer accepting a short sale order from another registered broker or dealer; (2) bona-fide market making; (3) broker-dealer effecting a sale on behalf of a customer that is deemed to own the security pursuant to Rule 200[2] through no fault of the customer or the broker-dealer.[3]
Finally, the Company would like to thank all of its shareholders who continue to support us and promises that we will use all of our best efforts to build shareholder value.
As a growing corporation we will take all the necessary steps to protect the interests of the Company.
Thank You.
************************************************************ POST FROM WHISTLES..........NICE WORK WHISTLES!!!!!!
Deleted 3 times so far from glxi
That is some funny stuff!
"Florida, and easily wire funds to our Northern Quebec offices for operational purposes. Secondly, the relevant corporate tax rate in Florida is below 30% as opposed to more then 50% in Quebec. So when the Company begins to generate profits it will have a serious impact on shareholders' dividends."
North America's Lowest Tax Rates The corporate tax rate in Quebec is 32.02%-the lowest in North America. The tax situation in Quebec is also highly competitive in terms of job creation and capital investments."
I assume you came up with this doing a quick google search and that was probably the first thing that came up. For the right answer you may want to do a little more digging.
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