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IIE:CA V.IIE



TSXV:IIE - Post by User

IIE:CA > What a crap investment
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Comment by raw_capitalon Sep 08, 2009 1:22pm
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Post# 16286569

RE: What a crap investment

RE: What a crap investmentFrom Note 7 in the financial statements:

Advances due from a company with a director in common $ 5,000
Advances due from a director $76,087
Totaling $81,087

Advances receivable of an additional $55,917?  Who was this money advanced to?

I don't understand this... they just advance money to directors?  Why?  Where did this money go and why isn't in the bank earning the shareholder's interest?  Why isn't it being used for exploration?  That means $137,004 has been given out without any reason disclosed?  Why isn't the Company disclosing it?  If it is to a related party, surely, they must know what it is for?  Why conceal the reason?

Are TSX companies allowed to advance cash to directors?

If anyone knows this rule please tell?

Why didn't they pay Metalex?
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