North American Gem Inc V.NAG

SEDAR

[99921]

NAG's annual financials for 2011 and accompanying MD&A dated May 1 are available at SEDAR. They can be summed up by the auditor's statement that there is significant uncertainty about the company's ability to continue as a going concern. The numbers are terrible - zero coal revenue, $99K cash, $213K loss, operating loss $4.5 million, deficit $22.7 million. They have written off coal properties in Saskatchewan and Kentucky. The CEO was paid $177,500 in 2011. The only thing left appears to be the potential at Louise Lake but that would appear to be a long shot. If anyone can review the SEDAR materials and find any reason for optimism I would be delighted to hear about it.

[cantour]

This ceo get paid big shareholders money for what,,,to run 4 company to zero,,,,man i could do that too whit no problem,,,what  a joke ,,,,,,  

[Porsche928S4]

So reading that Management Discussion and Analysis on Sedar it appears that the management decided to write off all coal properties be it here in Canada or in the States.   NAG basically has its hopes on LL delivering something tangible.    I am curious how Charles will spin this and please readers if I have mis-interpretted this sedar document regarding 'coal'

[bizwiz]

Thank god you folks are around to give feedback. Idiots like myself (the name bizwiz is for the cheezy stuff ! ) don't look as stupid once following up on what others post. Apparently (I went to read the SEDAR files) they have wrote off their # 2 mine property and some processing equipment, which thus leaves us asking the typical question with regards to revenue.... I guess that things aren

[bizwiz]

# 3 mine also stopped due to litigation (problem with the permits...). All hopes seem to lie with the Granny Rose property...