Replies to post #232 on Sanwire Corp (SNWR)

[Trader7k]

I play for Profits, only. This might just be the next great play, or not.

Time will tell, got it on radar.


Thanks

[Kaseymoe]

This from the 10-K:

Going Concern

The Company has incurred net losses for the period from inception on February 10, 1997 to December 31, 2012 of $10,834,458 and has no source of revenue. The continuity of the Company’s future operations is dependent on its ability to obtain financing and upon future acquisition, exploration and development of profitable operations from its mineral properties.

These factors create substantial doubt as to the Company’s ability to continue as a going concern.

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pretty frank words. 10 million in loses and no revenue over live of the corporation and many names and and business endeavors.

I showed up from IPKL figure there is no hope of recouping anything from IPKL even though it's still showing in my Scottrade account with symbol in parenthesis. I hold a small stake here figuring it's the only way to see anything from the IPackets technology - if there is any "there" there. That has never been proven but willing to give it a shot.

I do think they are positioning for "something" - a new ride on the merry-go-round. Hope I'm smart enough to know when to jump off.

The statement above still talks about mineral properties but I think their only game is mine communications. The boilerplate on the website under What We Do is very general and vague about wireless communications. Could have been written 15 years ago - makes it sound like WiFi is something new and cutting edge. No mention of mining apps. That does get mention in the Subsidiaries tab under iPTerra - very familiar stuff there - it is IPKL renamed slightly.

There's no basis for assigning a value to one share of Sanwire. Very thin, irregular trading says it's a 27 cent stock now but 0.027 would be about as meaningful.

rjw/mkc