RE: one piece of truth"Anyone know the penalty for putting out misleading information in news releases."
Usually, the Securities Commission forces the company to make a retraction, if it's a material matter. That plane matter likely wouldn't qualify.
However, the omission of the missing $5 million (Item 18 (Events after the reporting period, which is December 31, 2011): there is no mention made of the $5 million which is purportedly owing from Barkerville Gold as of January, 2012) is a very material matter, especially in light of the omission, on the June 30, 2011, audited financials, of the disputed $2-million-plus overbilling to IRI.
Some will have noticed, on the 1st-quarter financials, the disclosure of the interfamily loans and the Kid's salaries. I'm sure that that full disclosure resulted from the unreliable audited statements and the BCSC's review of the omitted matter and the deficient financials.
Contact the BCSc through inquiries@bcsc.bc.ca, mention the unmentioned-and-therefore-missing $5 million, and ask them to have the company either retract the news releases or else correct and reissue the financial statements.
The directors, and the company, may be reminded of their obligations as directors of publicly traded companies