TomaGold Corp V.LOT

Hopefully this doesn’t spill over.

[eagle35]

David Grondin is a crook and  can be trusted. 
Nobody has got the guts to say it, but this could spill over anytime. AMF which is equivalent the OSC Ontario securities commission, is on to these crooks. I wouldn't  be surprised if this spills over. Since we the shareholders are helpless, hopefully AMF brings these crooks down. By the way, AMR still halted to this day. 

MONTREAL, Aug. 03, 2022 (GLOBE NEWSWIRE) -- AM Resources Corporation (“AM” or the “Corporation”) (TSXV: AMR) (Frankfurt: 76A) announces that it has received a cease trader order (“CTO”) from l’Autorit des marchs financiers (“AMF”) as a result of the Corporation's inability to file its audited annual financial statements and corresponding management’s discussion and analysis for the year ended December 31, 2021, including the CEO and CFO certifications, as well as the interim financial statements and corresponding management’s discussion and analysis for the period ended March 31, 2022, including the CEO and CFO certifications (collectively, the “Financial Documents”), by their respective filing deadlines of April 30, 2022 and May 30, 2022 (the “Filing Deadlines”). The order will remain in effect until the Corporation files its Financial Documents. 

“This situation is due to several factors that are beyond our control. We are working with our auditors to resolve it as soon as possible and we anticipate that we’ll be able to file the Financial Documents no later than August 19, 2022. Once resolved, we will focus on taking the necessary actions to ensure that this does not happen again,” said David Grondin, President and CEO of AM Resources.

The Corporation will provide updates as further information relating to the Financial Documents becomes available

[PeterThomas]

Grondin preserves all the cash  in the till for his compensation.  Why waste on drilling?

[mario2007]

there is drillings. My problem is not the drilling. My expectations is that at least 50% (if not more) of Grondin's job is promotion and I have to agree with you, this is a big fail. I don't know what to say. O would not give a damn about compensation if we were at the right price (5X at least the current SP)

[eagle35]

Unfortunately regardless of the drill results, either they would have to sell properties or raise money in the near future just to keep going. The only property worth anything right now is Obalski. Either way, they sell a property or raise money, the shareholders will be screwed. Nothing will change, David Grondin will continue to milk this company until its bankrupt. I would love see AFM

[mario2007]

if you think there was something wrong, you should file a complaint. If you're right, I agree they have to pay

[eagle35]

I should, I just don't want to be responsible for bringing down the company., 

[mario2007]

if you're righ, this is opposite that would happen. You might save the company

[eagle35]

How so, the stock will be halted for god knows how  long. In mid 2017 Tomagold got 2.5 million dollars from IAMGOLD. There was no drilling expenses, since we didn't do any. We were halted for 1.5 years, so there shouldn't be a lot of expenses. Mid 2020, Tomagold has absolutely no money left in the bank account. What happened the 2.5 million dollars we got from IAMGOLD for 19.9 % of

[mario2007]

I remember this transaction. It was 500K USD. I asked at that time to the CFO. If you look at the cash balance on the following quarter, it was higher. Did we get back all the money, I don't know. Strange there was no trace in the financials. But the balnce was higher.

[eagle35]

I'm pretty sure it was around 1 million dollars, but unfortunately I don't have the time or the patience to look for it. The question is, where did the 2.5 million dollars received from IAMGOLD in mid 2017 go? No drilling? No properties were purchased. We were halted for a year and half, but the 2.5 million dollars disappeared anyway. This not a fraud? Give your had a shake ? Just for

[PeterThomas]

Mr. Grondin should bring in  independent investigators and make a determination where all the money went.  It is not hard.  Shareholders have a right to know.  The Board is comprised of do nothing self serving money hucksters and grifter types.  That should give you a clue.  This is a explorer but there is no geo experence on the Board.

[PeterThomas]

The final sign, like AM Resources, is that they no longer get or issue audited financials.  That it is essentially game over, de-listed is the end result.  I think Toma has about 2 years to go so it will die a slow death. as Grondin and Board belld out steady cash compensation.   Now sitting with a "4" handle, early 2023 a "3" handle is in the cards, and so