(edited) Ok, since no one appears to know the answer to my questions (in the post im replying too), ill just go and explain what i found
First off, im sorry for those that want to believe that the Laoshan group is a "Chinese Fund", but you've been dead wrong. That might have sounded good when Chinese stocks were the flavor of the day, but its quite misleading.
The Laoshan group was started by William Martens... Martens obviously does not sound Chinese and he lives in the USA...
On January 1, 2008, we entered into a consulting agreement with William Martens, under which we agreed to issue Mr. Martens 250,000 shares of common stock in consideration for up to 200 hours of consulting services for one year. Mr. Martens controlled Laoshan at the time we acquired the property on War Eagle Mountain from Laoshan, and is a significant shareholder of ours as a result of the distribution to him of shares received by Laoshan in the transactions described above.
What makes these dealings so strange is not the fact they paid huge blocks of stock to these various offshore accounts owned by Martens and PQ, for a property they purchased for MUCH less than what they sold it to GHDC for (then AGAIN sold to SFMI), but the fact that Williams was ALSO contracted to consult and build the Mill, etc.... Heres the PR on his hiring (dated November 20, 2007) ... http://www.marketwire.com/press-release/silver-falcon-mining-inc-sfmi-hires-deep-rock-engineering-inc-794918.htm
Notice how Deep Rock was created AFTER (January 2008) they already signed an agreement with SFMI (November 2007)?... Does this not seem strange?!
Looks like another company created to facilitate a buddy-buddy deal to me?... why would they buy a property from someone then turn around and hire THE SAME PERSON (under a new company name) to build the mine?!
Is Williams even qualified to build a mine?!... Cause we've witnesses quite a few delays and mistakes... Could they not hire a professional firm thats NOT tied to management?!
WHY ARE SO MANY COMPANIES THAT DO BUSINESS WITH A PIERRE QUILLIAM COMPANY STARTED BY FAMILY AND/OR FRIENDS?!... Does this family/friends group really think they know how to do everything?!... Cause with all their consistent failures, its really hard to imagine the logic in this, other than trying to keep MOST OF $$$$$$ RAISED IN THEIR OWN POCKETS!
Raising MILLIONS from shareholders and putting that money in your wifes, sons, daughters, friends companies seems pretty darn shady to me... This is a tactic employed by countless penny stocks and its usually the sure sign a crap investment.
SFMI has been claiming production since 2007-08 and here we are heading into 2012 and they still have not reported any significant growth... but they sure are making some nice paychecks from EACH of the companies involved here, aren't they?
-The sons company (Q prompt) does their computer work and is compensated. He is also paid as a director -the daughters company (Tutt Management) does services for the company and is compensated -The Investor Relations guy has been pushing PQ companies for years and is compensated - William Martins is not only the person that owned the property before PQ, but is also the person contracted to work on the mine. -PQ makes multiple 6 figure paychecks + bonuses and his wife ALSO sits on the board and collects $$$$... Pretty nice COMBINED household income they're collecting for a company not producing any $$$$
This is just an example of how most all PQ companies do business = WITH EACH OTHER
Lets also not forget that PQ collects 6 figure paychecks for MULTIPLE companies working the SAME property...
these are SERIOUS red flags... especially when you look at WHY so many of his past companies have failed... Its just plain ignorant to claim this is not worthy DD
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