ILST 2 Dec 2013 Welcome to the Inaugural Ask the C
Post# of 72742
Posted On: 12/02/2013 10:12:27 AM
ILST 2 Dec 2013 Welcome to the Inaugural Ask the CEO. I received several great questions.
http://www.ilstholdings.com/investors/ask-the-ceo.html
1. Why does ILST carry the OTCMarket Caveat Emptor designation?
First, let me start by saying why a Form 15 was filed. The Company had been a fully reporting issuer under SEC guidelines. Rather than risk the chance of being revoked, Management made the decision to file the Form 15.
The Company does plan on bringing its financials current in the very near term and will be reporting through OTCMarkets. The goal is to be Pink Current by year end. During 2014 as time and liquidity permits, ILST will return to being a fully reporting company.
While I have not confirmed, with OTCMarkets, why the Caveat Emptor designation was placed on ILST, but I would surmise it was due to increased volume as a result of new management and the lack of historic financial disclosure. I will be in contact with OTCMarkets as past due financial statements and required disclosures are made to ensure a more appropriate designation.
2. Is ILST planning on doing a reverse merger?
The answer is emphatically NO.
ILST has a very valuable gold property that Management believes can be brought into production in the near term. Unlike other “pinksheet” gold claims, the Van Deemen is a well defined reserve with a historically reported 34,000 near surface ounces of gold. ILST is a pure mining endeavor that stand alone. Additionally, unlike most OTCMarket companies, there is no convertible debt.
Project update 12/2/2013:
Ms Carroll traveled to Kingman, AZ November 26-27th, to pick up over 1,000 pulps from historic drilling on the Van Deemen project. Those pulps are currently in Tucson and selected samples will be sent to Skyline Labs facility in Tucson to confirm historic assays. Once the assays are received, the geologic model will be updated, and results posted on the web site.
http://www.ilstholdings.com/investors/ask-the-ceo.html
1. Why does ILST carry the OTCMarket Caveat Emptor designation?
First, let me start by saying why a Form 15 was filed. The Company had been a fully reporting issuer under SEC guidelines. Rather than risk the chance of being revoked, Management made the decision to file the Form 15.
The Company does plan on bringing its financials current in the very near term and will be reporting through OTCMarkets. The goal is to be Pink Current by year end. During 2014 as time and liquidity permits, ILST will return to being a fully reporting company.
While I have not confirmed, with OTCMarkets, why the Caveat Emptor designation was placed on ILST, but I would surmise it was due to increased volume as a result of new management and the lack of historic financial disclosure. I will be in contact with OTCMarkets as past due financial statements and required disclosures are made to ensure a more appropriate designation.
2. Is ILST planning on doing a reverse merger?
The answer is emphatically NO.
ILST has a very valuable gold property that Management believes can be brought into production in the near term. Unlike other “pinksheet” gold claims, the Van Deemen is a well defined reserve with a historically reported 34,000 near surface ounces of gold. ILST is a pure mining endeavor that stand alone. Additionally, unlike most OTCMarket companies, there is no convertible debt.
Project update 12/2/2013:
Ms Carroll traveled to Kingman, AZ November 26-27th, to pick up over 1,000 pulps from historic drilling on the Van Deemen project. Those pulps are currently in Tucson and selected samples will be sent to Skyline Labs facility in Tucson to confirm historic assays. Once the assays are received, the geologic model will be updated, and results posted on the web site.
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