some interesting tidbits:In July 2007 the Co paid debt off with shares,issued at an implied price of .05 per share. Anyone accepting this payment would have to feel confident that the shares could be sold at 5 cents or better.
The outstanding share count now is exactly what it was then. (490 MM)
Mr Garipov would likely be a treasure trove of information, and have contacts in the Russian energy industry.
This looks like the beginning stages of a shell being rolled into something serious.
From 1996-2001, Mr. Garipov was the Deputy Minister, Russian Federation Ministry of Fuel and Energy, in charge of exploration for oil and gas in Russia, (Wow!)
...overseeing the activity of the Central Commission on Development of Oil and Gas Fields.
The Commission’s function was to consider and approve field development programs and establish hydrocarbon production levels. Since 2001, Mr. Garipov has been involved in private business developing oil and gas exploration projects in Russia.
Mr. Dokuchaev is an independent businessman residing in Moscow. Presently he is the Chairman of the Board of Directors of JSCB Lanta-Bank. Lanta Bank is active in the financing of gold mining and jewelry production in Russia. Mr. Dokuchaev is also a joint owner of the only Russian Insulin pharmacology factory – "Sanofi-Aventis Vostok". He is a Shareholder of OJSC "GV Gold" that is among the top-ten gold mining companies in Russia with annual production of approximately 125,000 oz. in 2010. He also holds the position of Chairman for Investment in the branch of precious stones and metals in the Russian Chamber of Trade and Industry.
A pre-condition to closing the Share Exchange is a requirement that the Corporation raise financing of at least US$30 million. The Corporation anticipates that it will pursue a best efforts private placement of its common shares to accredited investors in Canada, and their equivalent in the United Kingdom and Russia. The net proceeds from the Financing will be used to: (i) drill the two drill-ready prospects in the near term, (ii) further other work commitments on the six exploration licenses, and (iii) provide working capital.
Even if they were to rollback 20:1 we should see the "post rollback price of .60" move back to $1.00 (the .05 pre rollback price of the debt repayment shares)-
The halt happened just as large buy orders were lining up (I counted over 11,000,000 on the bid, compared with 3,300,000 on the offer.)
Anonymous feature was used on the buys incidently...looked like "info leak buying" that the Co didnt like.
3 cents a share is basically seed share price.
dunno.
bh