GEAR International Posts 2nd Quarter Mixed Results, Shares Fall/New Projects Coming Soon
GEAR International (GEAR) (PINKSHEETS:GEAR) stock fell sharply last week amidst rumors that GEAR had cut ties with Western Sierra Mining and would fail to report second-quarter revenue. Apart from the revenue forecast, investors were concerned with the stock's reacting to the news.
More fluff chit chat and Dale ignores the rumors regarding WSRA!
Dale Geck, GEAR chief executive officer, has scheduled a conference call on Tuesday August 21st at 4pm EST to explain Gear's silence regarding internal strategy and implementation plans after learning that short sellers were attempting to acquire large positions in the stock. Over the last several months, GEAR has hired proven executives with credible experience to address its short-term challenges with regard to marketing mining operations - efforts too recent to have had significant impact on second-quarter performance.
IN 2011, GEAR International emerged as a leader in the business of identifying small-cap sustainable resource development properties. While GEAR has not lived up to early investors' highest estimates of early 2012 revenue, Gear has steadily positioned itself to capitalize from its current mining interests in the immediate future. Gear has shifted from a maverick, opportunistic approach at boom or bust mines to a deliberate, measured approach for sustainable extraction that will create a solid base to the company valuation. "Gear will no longer be unduly influenced by short term speculators and their promotional predators. We have developed a sound foundation and one that all investors could respect."
Not one word about this.
Gear International, Inc.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 Gear International, Inc. (GEAR) formerly Golfgear International, Inc. is a Wyoming corporation that is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted on the U.S. Over-the-Counter Markets (BCI 51-509), since March 1, 2010, because its business has been directed or administered in or from British Columbia.
¶ 2 GEAR has not filed any disclosure documents on SEDAR as required by BCI 51-509 (the required records).
¶ 3 Under section 164(1) of the Act, the Executive Director orders that trading in the securities of GEAR cease until:
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1. GEAR files the required records completed in accordance with the Act and regulations, and
2. The Executive Director makes an order under section 164 of the Act revoking this order.
