Replies to post #233 on Silver Penny Plays

[downsideup]

LOL !!!!!

http://www.sec.gov/Archives/edgar/data/1464830/000109181810000359/sfmi08161010q.htm

The only $$$ coming in that they show in the latest filing is from BORROWING another $1.4 million under MORE convertible notes... and then, they paid themselves $1.2 million just for the "consulting" work done figuring out how to borrow the $1.4 million ???

Magically, the consulting figures seem to be paid to categories that are likely $$$ going to Pierre's family... all went up a lot... while the numbers in other "consulting" manage to ensure any money that does comes in... gets paid out to "consultants".

LOL!!!! And, they're not DONE yet....

"We will need substantial capital over the next year. We believe that we have sufficient capital at this time to process tailings at our mine site, but will need about $6,500,000 to complete a confirmation process and commence processing raw ore. In addition, we financed a lot of prior activities by the issuance of convertible notes that mature two years after their issuance. In particular, as of June 30, 2010, we had outstanding $3,439,720 in notes payable..."

It appears to me that either they've misreported a WHOLE lot of stuff as "consulting"... or they've pirated and pocketed almost every bit of money that came in from their borrowings (ie, share sales)...

Spent 1/3 of a million on "accounting"... but didn't bother to audit the financials ?

[User-65225]

The "red flag" you speak of is message board chat and has nothing to do with management.

Do you agree with the "1000lb container of gold" claim? Cause this sure seems shady, especially since the info supposedly came from a "bus driver", which cannot be verified by anyone else. How convenient!... I've been trading pennies for 15 years and seen these types of claims too many times, they usually end with major disappointment... A huge red flag too me.

These types of claims usually appear when someone is worried about the stock dropping, like SFMI has (-50%), since people started hyping it.

both companies are presently so undervalued that any serious amount of money coming in would rocket the sp.

If SHSH had 10% of the $$$ volume that SFMI had/has it would be a mega bagger from these levels IMO. The structure of the company is way healthier.

When i invest i want my $$$ in the best percentage gain potential, IMO SFMI is fairly valued for the stage they are at and possibly will dip lower if it cannot hold the 200MA. I dont see SHSH dropping much from here (for any significant amount of time), but the gain potential could be massive if $$$ volume increases like it did on SFMI. The float is VERY tight

Thx for the intelligent debate, im just sick of the mindless "SFMI is the only stock you need" claim that someone constantly posts on these boards. Its wise to diversify and position with the strongest gain potential... especially when you trade/invest for a living, like i do... Theres lots of mindless pumping on SFMI, but not from you of course

I've been wrong before, but this is the way i see it...have a good night