Reposted from the I-HUB site.
skeptical159
Wednesday, March 07, 2012 11:47:30 PM
Re: $b_rich$ post# 53546
Post # of 90497
The Mods don't want you to read this, apparently, since they almost immediately deleted my first post. I can understand if you remove profanity or pure speculation, but this is exactly the set of facts that should be instructive to the typical investor but they would prefer that you the investor were not aware of. If you get a chance to read this please copy and paste into a new message if you feel it is worthwhile.
I posted some of the same concerns that I will expound upon later in a post last night, that generated a fairly ignorant response from Warmy and did not address the issues at all, so my hope is that if you actually have information that would confirm that this is not a scam that you would be willing to address these questions.
I think as investors most would define a scam as a company created as a front without any true business capabilities or products. And here you're right, GDSM is not a scam in this sense. However I think a scam could also be defined as a set of individuals with clear conflicts of interest who set up a company to sell massive amounts of shares and reap the benefit of a perceived beneficial business plan based on false or manipulated assays. And here unfortunately is the category that I believe GDSM falls into, but right now that belief is just based on extensive circumstantial evidence so if there are facts to the contrary please let us know.
What I do know is that GDSM share prices have risen primarily based on two things, on the basis of a seemingly positive profile (including the Technical Summary by Don Jenkins, and business plans) of the Gold Star Mine from McCoy Gold Mines, LLC, and the promise of funding for placement of a mine at the Gold Star claims through a joint venture between GDSM and Western Sierra. If both those situations prove fraudulent then I don't think anyone would disagree that there would be no reason to buy GDSM stock.
So let's look first at the profile from McCoy Gold Mines, and it becomes immediately apparent how tangled this web is. The company that has supposedly provided this unbiased 3rd party review of the Gold Star claims is run by Jason Lee and Sam Cooper. The scary thing from an investor's perspective is that Sam Cooper happens to be related to Jason Cooper, the former CEO of GDSM. So the only positive review of this Gold Star claim was generated by the family member of the CEO of the company now trying to convince you the investor to buy their stock. And this is only the beginning. Don Jenkins is the, also apparently unbiased 3rd party, source of the technical summary on McCoy's site. Jenkins is not only involved in a company called Arizona Gold Corp. but also happens to be a large investor and primary stockholder in a little company called Western Sierra. So now, the company involved in the joint venture is basically run by the same guy who provided the unbiased review of the property and has also been allowed to sell $400,000 worth of GDSM stock to fund this joint venture. I wonder where that money is going. And just in case you thought that was all, Jason Lee (from McCoy... I know this is quite a web) happens to be related to John Lee, who is a VP at Arizona Gold Corp. The coincidences are just amazing (but in business we don't tend to call those coincidences they get called righty... fraud).
But now onto the joint venture between GDSM and Western Sierra. We have already established that Don Jenkins was involved in both the technical analysis phase and the formation of the joint venture as a primary stockholder in Western Sierra... so obviously he has a significant amount to gain by pumping this stock up to sell available shares. However, the corruption is just starting. Michael Chaffee and Dennis Atkins just happen to sit on the board of GDSM together, and guess where else they happen to sit on a board (and hold some esteemed titles)... wait for it, you guessed it Western Sierra. I can just imagine the conversation going on in Michael's head as he considered whether to vote for the joint venture as a GDSM board member... (Do you think this would be a good idea Michael (Western Sierra)?, Why yes it seems like a spectacular idea (GDSM), we can prop up the stock price and sell all our interest into the market for far more than we paid., By god Michael (oh who the hell knows at this point) you're right we can get rich by making it look like the companies we own trust each other even though they're run by the same people).
Where I come from that's not only called a conflict of interest (board members cannot vote on business with companies they own or sit on the board of) but when the same people are in essence running the same two companies and funneling money back and forth... that is, you guessed it once again, why this is a scam.
skeptical159
Wednesday, March 07, 2012 11:47:30 PM
Re: $b_rich$ post# 53546
Post # of 90497
The Mods don't want you to read this, apparently, since they almost immediately deleted my first post. I can understand if you remove profanity or pure speculation, but this is exactly the set of facts that should be instructive to the typical investor but they would prefer that you the investor were not aware of. If you get a chance to read this please copy and paste into a new message if you feel it is worthwhile.
I posted some of the same concerns that I will expound upon later in a post last night, that generated a fairly ignorant response from Warmy and did not address the issues at all, so my hope is that if you actually have information that would confirm that this is not a scam that you would be willing to address these questions.
I think as investors most would define a scam as a company created as a front without any true business capabilities or products. And here you're right, GDSM is not a scam in this sense. However I think a scam could also be defined as a set of individuals with clear conflicts of interest who set up a company to sell massive amounts of shares and reap the benefit of a perceived beneficial business plan based on false or manipulated assays. And here unfortunately is the category that I believe GDSM falls into, but right now that belief is just based on extensive circumstantial evidence so if there are facts to the contrary please let us know.
What I do know is that GDSM share prices have risen primarily based on two things, on the basis of a seemingly positive profile (including the Technical Summary by Don Jenkins, and business plans) of the Gold Star Mine from McCoy Gold Mines, LLC, and the promise of funding for placement of a mine at the Gold Star claims through a joint venture between GDSM and Western Sierra. If both those situations prove fraudulent then I don't think anyone would disagree that there would be no reason to buy GDSM stock.
So let's look first at the profile from McCoy Gold Mines, and it becomes immediately apparent how tangled this web is. The company that has supposedly provided this unbiased 3rd party review of the Gold Star claims is run by Jason Lee and Sam Cooper. The scary thing from an investor's perspective is that Sam Cooper happens to be related to Jason Cooper, the former CEO of GDSM. So the only positive review of this Gold Star claim was generated by the family member of the CEO of the company now trying to convince you the investor to buy their stock. And this is only the beginning. Don Jenkins is the, also apparently unbiased 3rd party, source of the technical summary on McCoy's site. Jenkins is not only involved in a company called Arizona Gold Corp. but also happens to be a large investor and primary stockholder in a little company called Western Sierra. So now, the company involved in the joint venture is basically run by the same guy who provided the unbiased review of the property and has also been allowed to sell $400,000 worth of GDSM stock to fund this joint venture. I wonder where that money is going. And just in case you thought that was all, Jason Lee (from McCoy... I know this is quite a web) happens to be related to John Lee, who is a VP at Arizona Gold Corp. The coincidences are just amazing (but in business we don't tend to call those coincidences they get called righty... fraud).
But now onto the joint venture between GDSM and Western Sierra. We have already established that Don Jenkins was involved in both the technical analysis phase and the formation of the joint venture as a primary stockholder in Western Sierra... so obviously he has a significant amount to gain by pumping this stock up to sell available shares. However, the corruption is just starting. Michael Chaffee and Dennis Atkins just happen to sit on the board of GDSM together, and guess where else they happen to sit on a board (and hold some esteemed titles)... wait for it, you guessed it Western Sierra. I can just imagine the conversation going on in Michael's head as he considered whether to vote for the joint venture as a GDSM board member... (Do you think this would be a good idea Michael (Western Sierra)?, Why yes it seems like a spectacular idea (GDSM), we can prop up the stock price and sell all our interest into the market for far more than we paid., By god Michael (oh who the hell knows at this point) you're right we can get rich by making it look like the companies we own trust each other even though they're run by the same people).
Where I come from that's not only called a conflict of interest (board members cannot vote on business with companies they own or sit on the board of) but when the same people are in essence running the same two companies and funneling money back and forth... that is, you guessed it once again, why this is a scam.
