There IS a reason. There is heavy downward pressure being exerted by the the convertible notes/debentures and other stock sales that may be bleeding shares into the float. We know that the 31,153,704 shares sold below were sold @ $.0043 which if turned around and sold into the market @ 4 cents would have reaped the purchaser of those shares almost 10 times their invested dollars {$133,500 to ~$1,335,000}. That's good and would likely mean that the financier/purchaser of the stock would likely be willing to do another deal helping DGRI in it's objectives of raising the $4,000,000 that they stated would be required {see excerpt, bottom of post}. Problem is that it could be very dilutive to existing shareholders. We need transparency from the company via frequently updated float numbers/OS numbers AND a verbal committment that any ensuing dilution will be minimized/offset...by as much as is practical.
The transactions below were as of September 30th, last quarter. We need updated numbers/reassurances.
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During the quarter ending September 30, 2010, the Company issued an aggregate of 12,050,433 shares of Common Stock in consideration for services to non-related parties. Also during the period ending September 30, 2010, the Company sold an aggregate of 31,153,704 shares of common stock in consideration for an aggregate purchase $133,500.
As of September 30, 2010, we had a cash balance of $3,184. We estimate that, based upon our current business, we will require up to $4,000,000 over the next two years. However, the Company cannot properly anticipate the capital expenditures and working capital needed in connection with its operations and development. As part of the Shamika transaction, Dutch Gold holds 4,950,000 shares of Shamika Resources (ticker: AGDI), which as of November 11, 2010 had a share price of $0.25 for a total market value of Dutch Gold's holdings of $1,237,500.
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