Granada Gold Mine Inc V.GGM

forget info needed

[fbedard29]

Hi Thanks to nechman25 for response and to all others that did not reply.That give me the incentive to read the 6 months financial statement and scared the  .... out of me.

The first thing i looked at was the management and enginering fee ($910,441 for 6 months) and
when i went  to note 17  like stated to see the description there was nothing . the title was (commitments and contingencies) .
There is also a professionnal fee of $339,270 fee (for 6 months).
There is a stock base compensation of ($142,978) .
There is also ($972,661 fee for drilling that might also be paid to administrator). There was no note to explain.
And the worst of all there is a secured loan of $1,619,774 at 8% interest renewable at the lenders options And when productions start there is an options by the lenders to be reembursted in gold at $800 an oz. .
I also read somewhere that there was 3%NSR to shareholders.

I added all that and my conclusions is that  this co is managed by dirrectors for directors and not for ordinary shareholders.
I might be wrong but my understanding is that at any time some directors could ask for repayment of loans and since there is no money to refund without putting the co in a bad situation the solution could be to seize the company.
I will now pass to other invesment and hope i have incited enough curiosity for you all to investigate .
Fernand

Fernand
I hope for my sakes that i did not put enought info to be sued by Mr Basa.

Fernand

[2008run]

You seem to know very well how the game is played with the shareholders. Are you still waiting for the ROLLING STALL, GOLD ROYALTY or NEW DILUTIONS at GGM?