As previously stated before,it has also come to the attention of Management that there are a number of DTC Participant brokers who hold positions in our stock who act in a nominee or quasi nominee role on behalf of undisclosed individual beneficial owners of our stock. We understand that in the so-called nominee held group, potentially millions of Company Class A common shares may have been used by multiple brokers, multiple times, in share loans to facilitate short selling in our stock, the result being downward pressure on our stock trading price. Now as the 'clarion call' has rung for all beneficial owners to assemble for their share of Class B Securities, these DTC Participant brokers are potentially unable to perform, that is 'to bring it,' leaving possibly hundreds of shareholders benefit of their fair share of 'the rock' -- that is, Class B Securities," stated Lee R. Rice, CEO Colorado Goldfields Inc.
This is from the CGFI story, which says it all!!
Believe what you want. However I won't go to a certain forum leaders level and suggest you are full of chit, but I do respectfully challenge where you come up with the "guesstimate" of a 1% failure rate.
I full agree that this company has been way too optimistic on time lines for production/audit. That being said if you think all this volume is from disgruntled shareholders you had better think again.
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