Here's some more dirt.
I will answer the question myself and you guys can verify it.
"If CR did not receive $8M in cash and/or shares how was the settlement paid?"
Itronics is a micro-cap with very little if any cash. This is factual and can be easily verified.
Prior to the settlement agreement ITRO did a 1/1000 R/S that took their O/S down to about 4M shares. This was in mid-2010. The settlement agreement was in April 2011.
They have since done a few equity financing arrangements to raise money for working capital.
The pps has been around 20 cents the past 2 years.
Their current O/S is about 10M and this includes the equity financing and share payments to employees and others.
The company has not shown any shares going elsewhere.
At 20 cents per share if they really did pay the settlement off in shares then that would be about 40M shares ($8M)
This means that the current O/S would have to be at least 45M and most likely over 50M. Instead their last reported O/S is just over 10M.
This is why it's clear as day that shares have NOT been going to CR. I even checked with their transfer agent. Shares DID NOT go out to CR. The numbers don't even come close to adding up.
But this is where it gets interesting...
Fraudster John Whitney runs a 1 man operation at ITRO.
He is in charge of everything. There is no CFO or accountant and his numbers aren't even auditted. There is only 1 other person on the BOD and he resides in Rhode Island and is never in Reno where the company operates their fraud scam. Again, all of this can be easily verified. Btw, his name is Howland Greene.
The biz collects spent photo chemical liquids and extracts the silver and converts the remainder into liquid fertilizer. All of the silver processing is done in house.
If you look at his numbers for the past few years they don't come close to making sense. There is a fixed amount of silver per barrel of liquid collected. This means for each gallon of fertilizer created and sold there is X amount of silver that had to be recovered. Comparing the numbers from over 5 years ago to the past few years they simply don't even come close to adding up.
He is definitely only reporting a small fraction of silver he produces. Since there is zero oversight and he's a 1 man operation, he gets away with it.
CR is either getting paid in silver or sales of unreported silver and this is illegal as hell for both of these fraudsters. CR must be complicit to Whitney's fraud. And that, my friends, is a felony. That's why it's not over for this creep.
Get the SEC to investigate. CR definitely has additional assets. They're just hidden. That money belongs to the investors he screwed over, not in his own private offshore account or wherever the hell he has it stashed.
If the SEC wants to ignore all this then someone's on the take.
I gave them a mountain of documented evidence years ago of blatant fraud and they've done nothing. I thought they were supposed to work for us and prosecute the crooks. Instead they cut deals and look the other way. Pretty fvcking sickening.
Sorry for rambling. I've just had enough of the BS.
CR AND WHITNEY NEED TO GO TO PRISON FOR A LONG TIME.
Perhaps the IRS and the State of Nevada and NY needs to get involved.
It's not over, folks. Trust me on that one. If I have to take these MFers down by myself, I will. I would appreciate some assistance though.
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