Gold Coast Mining Corp. (GDSM)
Post# of 390
Gold Coast Mining Corp. (GDSM)
- OTC Markets
0.00 0.00 (10.00%) Jul 27, 3:46PM EDT
Add to Portfolio
Income Statement Get Income Statement for:
View: Annual Data | Quarterly Data All numbers in thousands
Period Ending Mar 30, 2012 Dec 30, 2011 Sep 29, 2011 Jun 29, 2011
Total Revenue - - - -
Cost of Revenue - - - -
Gross Profit - - - -
Operating Expenses
Research Development - - - -
Selling General and Administrative 11 - 15 0
Non Recurring - - - -
Others - - - -
Total Operating Expenses - - - -
Operating Income or Loss (11) - (15) (0)
Income from Continuing Operations
Total Other Income/Expenses Net - - - -
Earnings Before Interest And Taxes (11) - (15) (0)
Interest Expense - - - -
Income Before Tax (11) - (15) (0)
Income Tax Expense - - - -
Minority Interest - - - -
Net Income From Continuing Ops (11) - (15) (0)
Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (11) - (15) (0)
Preferred Stock And Other Adjustments - - - -
Net Income Applicable To Common Shares (11) - (15) (0)
Currency in USD.
Not much of a "filing" more like their Disclosure Statements.
The term "uplisting" really only refers to a company that is currently non-registered and non-SEC reporting becoming an SEC registrant. Any non-SEC registrant just trades OTC, and those are all the same, regardless if they pay Pink Sheets for marketing services to be included in their invented and regulatory meaningless "tier" system. They are all still Pink OTC traded.
Therefore, the only "uplisting" that is possible requires the Company to become SEC reporting. To do that, they must file a Registration Statement with the SEC and complete the SEC review. That typically takes from 3-12 months and requires fully audited financial statements from a PCAOB registered accounting firm. Also, the registration statement requires a significant amount of disclosure, including information about the property, the exploration programs, and expenditures; insider holdings; share issuances; and copies of all material contracts.
They are all things which many Pink Sheet companies are unwilling (or unable) to provide. But, all are extremely important in terms of providing full disclosure and allowing investors to conduct real due diligence on a company.
Being SEC reporting is huge - SEC registered companies always trade at higher valuations than non-reporting OTC traded companies. That is certainly why so many non-reporting Pink Sheet companies say they plan on becoming fully registered with the SEC and "uplisting", but so few actually do. Until a Company actually proves their intention and actually files an initial registration statement with the SEC, the statement that a company intends to "uplist" should be taken as nothing more than Pumper fluff, since 99% of the time these companies do not follow through.