Ursa Major Minerals Incorporated T.UMJ

Attempting To Set The Record Straight!

[surething1111]

Good people of the UMJ BB,


I feel it's my duty to attempt to set the record straight. WRT the now missing post, and the event(s) that prompted the posting of it in the first place.


I recently asked a question of an ISM investor at another site. I noticed earlier today that Doingthejob felt compelled to post his response on several Bullboards including this one. Why? Who knows! The fact that the post has since magically disappeared is also very confusing.


My best guess is, in Doingthejob's own haste to see his own words in print he unintentionally forgot to include what actually transpired. I have no such qualms with sharing the complete story. It's also possible that one or two of you might want to add your own 2 cents worth, especially in light of the recent press releases detailing Inspiration Minings recent purchases of Ursa Stock and the announcement calling for an election of a new slate of directors to be nominated by the corporation. I'm sure there aren't many who would be in favor of a golden parachute like the one Mr Miller carries around with him when it comes to any member of the Board at Ursa.


So for those of you who wondered what on earth was going on earlier, here is exactly what transpired :


After reading a post by Doingthejob I thought I would ask a very simple question which would dictate a simple answer. Doingthejob obviously thought his response was a fine piece of work, worthy of being posted to 3 different bullboards, even if he did neglect to answer the very simple question.
*************************************************************
Doingthejob,


You stated : " BTW, Randy Miller's conservative approach certainly has outlived Dr. Gary Nash, "


Is this an example of Mr Millers conservatism, or is it his secret for longevity?


As of the date of this Information Circular, the Corporation has entered into a consulting agreement with ADREA
Capital Corp., a private British Columbia company owned and/ or controlled by Mr. Miller. In the event that the
consulting agreement is terminated due to the death, retirement of disability of Mr. Miller, the agreement provides
for the lump sum payment of an amount equal to two (2)times the annual salary and two (2) times the average
annual bonus paid to ADREA Capital Corp. In the event that the agreement is terminated for any other reason or not
for just cause or in the event Mr. Miller resigns for "Good Reason", as such term is defined therein, Mr. Miller will
be entitled to a payment that, in the aggregate,equals the annual salary at time of termination and an amount equal
to the greater of:(i) six (6) times the annual salary; and (ii) an amount equal to the result obtained when the annual
salary is multiplied by a fraction, the numerator of which is the number of days between the date of termination and
Mr. Miller's retirement date and the denominator of which is 365. In addition, the Corporation is required to
purchase from Mr. Miller, at the fair market value , all shares, rights, options or warrants to acquire shares of the
Corporation owned by Mr. Miller and shall pay him three (3) times the difference between the exercise price and the
fair market value of all rights, options or warrants to acquire shares subject to issuance pursuant to any options or
warrants held by Mr.Miller. "*************************************************************
Below, Doingthejobs post addressed to me that doesn't answer the very simple question that was asked of him. It's the very same post that was earlier posted to this bullboard without any explanation from him and was most likely removed by someones request. (IMO possibly his own.)
**********************************************************************
Surething1111,


Nice to see you have arrived here. Not enough action on the ISM BB as the three stooges banter about nothing. You know Surething1111, this is the LBE BB, and we discuss LBE issues here. But, to quickly and briefly respond, and I will draw a comparison between Miller and Nash to make it somewhat legitimate to post this discussion here, these two to me how always been the "tortoise" and the "hare". The "hare" adopts the aggressive approach where the "tortoise" adopts the conservative approach. The result of this approach has proven to be toxic for LBE and it's pre-JJ shareholders. LBE is debt ridden, ISM is debt free. LBE has had massive share dilution, with the potential of further dilution more than 2 times the dilution to date, ISM through the NCIB has seen their float of issued shares actually drop. As a result of the share dilution the future potential of LBE is extremely limited as whatever is left after company operations LBE must split it 168,000,000 ways (354,000,000 ways if the "preferred" shares are exercised), whereas ISM has to split it 70,000,000 ways. LBE, to fund it's operations has continued to increase its debt load and simply puts it on the LBE tab at 8% per annum, ISM services more than 50% of the services required through company stock and conserves it's capital. You see Surething1111, cash is king, debt is toxic. ISM is structured as a troll that is engaged in exploration and when opportunity arises is spun off as a separate entity as not to risk ISM or its shareholders. This is an example of mitigating risk. LBE, however, did nothing to mitigate risk and consequently ran the company into the wall resulting in the share prices going to 4 cents and it ceased trading until the new Chinese masters arrived. Nash, in his position as CEO, should have never permitted this to happen. The end result: lost control of the company to JJ, massive dilution to shareholders, and a predatory partnership that continues to siphon LBE resources ($1,650,000 per year just to service the "preferred" shares) out of the company leaving less and less for LBE minority shareholders, with only 5 years of LOM left. ISM, however, cruised through the downturn, and continues its conservative exploration activities without any of the issues facing LBE -- $26,000,000 in liquid, or near liquid, assets where the $6,000,000 loan is generating income at "prime + 4%", or 7% for a total of $420,000 per year, and other monies were invested in Canadianbanks during the downturn for a great ride. All ISM properties are also owned and debt free, again because of the conservative approach. This implies that these assets can too be liquidated should the need ever arise. Lastly, LBE is a "one trick pony" as it is a "wanna-be mid-tier" Nickel mining company with minor emphasis on trace AU,Pd,Pt whereas ISM's exploration span a wide variety of mined materials: NI,AU,AG,MoS2,Rare Earth Minerals, etc. Surething1111, they call this diversification with is another approach to mitigating risk. Should demand collapse in one market you can concentrate on another market. Certainly, these are two very different approaches to managing a company but it seems to me that the "hare" got snared and was done like dinner along with the LBE minority shareholders. ISM, however, continues on in it's exploration activities like the conservative troll that it is with none of the LBE issues hanging over it or its shareholders, but it does take longer for results.


Surething1111, you really need to look at the big picture. It will be interesting to see what additional debt LBE had to take on to unload Nash. Time will tell. LBE minority shareholders are certainly in for an interesting ride.


I am posting this on both the LBE and ISM BB as this discussion pertains to both companies, but now that Nash is gone this discussion belongs on the ISM board.
**************************************************************************************************************


Good People of the UMJ BB now you know exactly what transpired.


What you and I, still don't know is : why did Doingthejob feel compelled in the first place to post his nonsensical post addressed to me at this BB. What we also don't know is, why has that post since been removed.


As for the content of Doingthejobs post ........................... Let's just say, I think he forgot who he was preaching to.