Phos King.....
in response to
by
posted on
Dec 01, 2011 01:27PM
I have not posted here in a good while, but remember you and Big phos? I am a veteran stockbroker who exited the industry after 15 years to get into the private sector as V.P. of a Gold/Silver explorer in La Jolla. I trade regularly and have had a "token" position in LGDI. I bought more in the .30 cent range due to the ongoing resource small/micro cap co's bloodbath, but now I'm scratching my head at the action in the stock taking in recent news. Conclusion: I don't like what I see, sorry guys. So, I went (before I averaged down, AGAIN) to look at recent 10q and have fallen out my chair! Am I reading "CASH" position accurately? They have less than 800k left out of the 125 million financing they did years ago????? Without spending the time to comb through the Q to see where the money has been invested (positive potentially), or spent (NOT positive but negative and could be why no one wants to put anymore $ in) or comb through all the posts here, can anyone give me a quick read on the monies. I know a trick or two having seen it all in the industry (well not all, seems NEW tricks are invented all the time given the state of the evitable world financial collapse), but I'm speaking of the trick of taking LGDI money to pay salaries to the same people by "acquiring or creating" other businesses to draw more salary from. Does anyone confirm this be the case? What are the salaries? And there shouldn't be ANY other compensation at this stage of the game, salaries should not exceed 150k annually either and if there are higher salaries, IT"S STEALING, LET ALONE ANY OTHER CASH compensation. Thanks in advance. I'll wait for these answers before I leap in for more. Fortune favors the bold! I wish all of us bold ones ALL the fortune! mguru