Sorry about the typos above, I ran out of time. Incase you didn't get it, here is a shorter version:
Many continue to say the board is doing a great job.
Here is a short synopsis of what the board has done:
Board started with shares at $2.00 a share. The shares are now at $.016 cents. You can do the percentage loss, in my opinion its an unacceptably big number.
Board started with initial capitalization of 100,000,000 shares, since then the shares outstanding have been increased, at the board's encouragement, to over 1.5 billion shares. This has caused quite significant dilution to shareholders.
Board has raised and spent more than 250 million dollars over the the last decade. Despite that expenditure, presided over by the board, they have failed to advance to company at all in its efforts to get a license to actually be able to begin to mine and earn revenue. The only thing they have accomplished toward that end is, after 4 failures over 10 years, the company got their EIA (the first step required to obtain an exploitation mining license) approved. They still have significant additional steps to gain mining approval which remain undone. So as I write this, the board has failed, after spending 250 million dollars, to get a mining license. Again, they continue to be a mining company who cannot mine, and therefore cannot earn money.
The Board has also set and announced many goals over the last 12 years. And they have failed to meet every single one they themselves have set. I have to re-iterate once more, these are goals they set for themselves. They have failed to meet the goals they themselves set.
But at the end of the day, the bottom line is, since 2008 when they started, despite spending more than 250 million dollars, significantly diluting our shares raising money, this board presided over a company that has not made even $1 dollar, not even $1 dollar. And it still has no license to mine anything which is the only wat they can earn money. And the board this year, despite the company's still failing to be able to mine and actually make money doing so, voted their MD dr mair, a grant of 15 million shares. Why did they think he deserved them.
In my humble opinion, the only chance this company, and we shareholders have, is to change this board. They have had more than enough time and spent more than enough money, and they have continued to fail to accomplish anything this company needs to do to be successful. It time to clear out the failure that is this board and bring in new management.
Again, sorry for the typos above.
Ciao
Dull1122
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