$PSGR From the current Pershing Resources Company
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Posted On: 11/13/2020 10:37:14 AM
$PSGR From the current Pershing Resources Company Press Release:
The Company intends to use the proceeds it received from this private placement for the payment of accrued expenses, acquisition of additional mineral exploration leases and for general working capital purposes.
A reminder; this is for a sum of $200,000. Basically Chump Change. WHY does a company that has been in business for OVER TWENTY YEARS need such a SMALL sum of $$$$$$$$$s? Haven't common share stock holders been told time and time again that 'SOMETHING' is close to happening? Is this the 'SOMETHING"?
Two questions for the Press Release?
1) What are 'accrued expenses'? Are these salaries? 'Business Expenses such as meals and flights to XXX? WHERE is the money going?
2) What are 'general working capital expenses'? Is this a euphemistic way to say 'putting a little money back into our pockets without calling it salary or bonuses?
The $200,000 is a spit in the ocean for most companies that have existed for over TWENTY PLUS YEARS. One could be led to believe that, with all of the current leases and mining claims that money would be used to develop specific mine sites...DO YOU REMEMBER THE ONE NEAR KINGMAN, ARIZONA , the New Enterprise that was at one time alleged to be a must develop location? BUT this does NOT appear to be the direction the $200K is headed.
Yeah, it is a Penny Stock. Yeah, it is high risk. BUT it has been around for TWENTY PLUS YEARS and, now, has to arrange for a paltry $200,000 'placement'? Where is all the Gold and Silver PRODUCTION from the Marcos, New Enterprise, et al mine sites/claims? Oh yeah, they have to have personnel AND equipment to run the mine, process the precious metals ores and then sell the products. AFTER TWENTY PLUS YEARS...WE ARE STILL WAITING!!!!!
WOW!!!!!$200,000!!!! (SNICKER)
The Company intends to use the proceeds it received from this private placement for the payment of accrued expenses, acquisition of additional mineral exploration leases and for general working capital purposes.
A reminder; this is for a sum of $200,000. Basically Chump Change. WHY does a company that has been in business for OVER TWENTY YEARS need such a SMALL sum of $$$$$$$$$s? Haven't common share stock holders been told time and time again that 'SOMETHING' is close to happening? Is this the 'SOMETHING"?
Two questions for the Press Release?
1) What are 'accrued expenses'? Are these salaries? 'Business Expenses such as meals and flights to XXX? WHERE is the money going?
2) What are 'general working capital expenses'? Is this a euphemistic way to say 'putting a little money back into our pockets without calling it salary or bonuses?
The $200,000 is a spit in the ocean for most companies that have existed for over TWENTY PLUS YEARS. One could be led to believe that, with all of the current leases and mining claims that money would be used to develop specific mine sites...DO YOU REMEMBER THE ONE NEAR KINGMAN, ARIZONA , the New Enterprise that was at one time alleged to be a must develop location? BUT this does NOT appear to be the direction the $200K is headed.
Yeah, it is a Penny Stock. Yeah, it is high risk. BUT it has been around for TWENTY PLUS YEARS and, now, has to arrange for a paltry $200,000 'placement'? Where is all the Gold and Silver PRODUCTION from the Marcos, New Enterprise, et al mine sites/claims? Oh yeah, they have to have personnel AND equipment to run the mine, process the precious metals ores and then sell the products. AFTER TWENTY PLUS YEARS...WE ARE STILL WAITING!!!!!
WOW!!!!!$200,000!!!! (SNICKER)
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