Replies to post #66612 on Copper King Mining Corporation fka CPRKQ

[RDG013]

Not true private!

Do you realize that any capital that comes into the company will go to pay them first?

If the judge sees fit to approve a reorganization plan, the IRS will be put on a payment schedule. On the other hand, if the judge decided to switch to a 7, then the IRS would be prime all other creditors. Obviously, this is why the IRS is pushing for a 7, as they are all but guaranteed their money.

In reality, this could be a wake up call for all secured creditors. With the IRS out there, it is far less likely they recover in a a 7, which should make them more willing to work with someone willing to step in and put up the cash for interim financing.

[ChuckD-MSB]

I fully agree with you PW about them not paying the taxes, its baffling to me as well.

They have just filed a motion, and it clearly states that they want the judge to deny the DIP

until (1) the debtor reaches an agreement for adequate
protection with the IRS, a secured creditor, or (2) the debtor
obtains authorization from this Court to use cash collateral,
upon such terms as will provide for adequate protection for the
IRS’s interest in the cash collateral

The IRS is doing what they have to do to assure themselves their taxes due.

As far of the amounts they claim, they are estimates, I think its a pretty good bet that they will take far less than the amounts on the documents.

The Davis declaration http://www.copperkingwesternutahminingrestructure.com/ck%2084-1.pdf

states that they are working on it, JB stated it as well to the "steering committee" of CPRKSA

with that said, I hope that the company either files a document addressing it, or references it in any upcoming PR's

I am not dismissing it, I just expected it.

[sleep]

He (Mark) constructed the Mine so that he could start mining; generate revenues; and then pay the debt. A million dollars paid to the IRS produces nothing...Mark gambled and lost but I and many here would have made that same gamble....except PW who has described himself to me as void of all emotion when it comes to investing. But if everyone where that way; Ford; FedX; 3M; Apple; etc etc etc...none of these companies whould have been created because they were all dreams that took a leap of faith to get off the ground.

[SATELLITE]

Well its ok not to pay taxes, "as long as your in the GOVT. **Geitner** "TREASURY SECRETARY"

iF NOT one must pay taxes, fight CPRKQ

Whats good for the goose is good for the gander

GLTA Longs