Irwin, what creditors? The company has no debt. The company gets its funds from issuing shares, and those funds have been payed for by shares. A little bit of credit card debt is nothing and the credit card companies can,t act as banks that have guarantees against the loans. Plus I believe there is maybe over a million dollars worth of investments, without checking the financials. This company can run for years on little intrusions of cash, so a bankrupt scenario is far out of the question at the moment.

When most small explo companies saw last spring, difficulties in raising money, they layed people off and went into hibernation mode, spending very little and only what was needed to upkeep their properties. In this time its apparent that Lori did not conserve and continued travelling racking up $600 in the last quarter that someone here said they saw in the financials. This is complete incompetence on Lori,s part and the whole BOD for allowing this to happen especially at a time like this. It shows that the current BOD has zero knowledge of the mining industry and failed to keep informed on what was happening in the industry. It was their duty to conserve in the best interest of their shareholders. Where the high travel occured in Sept-Nov, I would say that most of this was spent prior to the dissident challenge and where she could not fill the IGD PP proposed last june or so, it was very evident then that she could not raise money, and any competent BOD would recognize this sign immediately, but had they been doing their jobs and keeping up on the mining industry, they would have had the perception well before this. And also, where the Havilah spinout kept getting pushed ahead from 2011, maybe that was due to not being able to raise cash, so the alarm bells were probably there in 2011 and early 2012.

Lori, Jeff and Bob were all stock brokers, or have that background, as far as I know, and there is a circle of all the brokers that knows what goes on in the markets, so there is no excuse there either as far as I am concerned. Besides, there were countless rumours and bashers that said the stock was going to .05-.40 when we were sitting above the $2 level, months before any drill results come out, how these bashers/brokers even knew that at that time is beyond me when we were drilling what may be one of the biggest gold finds in history.

The only way that Lori will be able to raise money, is that she would have to show the placees something substantial from the properties, imo. And for her to do this, it would have to be released publicly, then that substantial news would only raise a lot more questions. Any analyst looking at the drill program, how it was executed, the results and the time taken to do it and release results, would simply say no. For the analyst that took their research a little deeper, I would imagine their eyebrows would raise a knotch, maybe even a Spock eyebrow or two, and would shake their heads, and ask, "whats going on here?" The historic facts suggest something huge on the Tesoro, the drilling facts suggest very little, quite a gap, don,t you think?

All in my opinion, this post could be 500% wrong, but then again, it may be right.

IMO