Friday, December 28, 2012

Bobby G makes out like a Bandit


"When shares of junior miner Liberty Silver Corp. took off over the summer, investors and regulators on both sides of the border were concerned about the activities of penny stock promoter Bobby Genovese. He and other newsletter writers were aggressively pumping the stock, which more than doubled in a matter of weeks before being halted.

On Thursday evening, Mr. Genovese’s Liberty Silver trades were made public in a regulatory filing, which can now be viewed on SEDI. The trades show that Mr. Genovese and his associated companies were aggressively buying the stock throughout late 2011 and 2012, and unloaded a huge quantity in September after it ran up.

http://business.financialpost.com/2012/12/28/bobby-gs-liberty-silver-trades-revealed/
The most eye-opening trade occurred on Sept. 20th, when Mr. Genovese’s firm BG Capital Group Ltd. sold 6.6 million shares at a unit price of US$1.31. In the two days prior to that sale, BG took control of 6.6 million shares that appeared to come from Outlook Investments Inc., a separate firm under Mr. Genovese’s control.
This observer REALLY has to wonder how these career turds CONTINUE to be successful career turds in perpetuity. I mean damn.



Friday, December 7, 2012

Long Knives out for J. Frank Callaghan

Mr. Callaghan's severely hornet stung pee pee got some more bad news yesterday as major stakeholders are lining up with the massive unmitigated cajones to demand a, gasp, AGM.

"Barkerville Gold Mines Ltd. and its president, Frank Callaghan, are facing an action in the Supreme Court of British Columbia from a shareholder who wants the company to hold its annual general meeting and wants to install three new directors. Rex Harbour, who owns 7.1 million Barkerville shares, says the company has not held an AGM since Aug. 26, 2011. He says that the meeting is long overdue, especially given the company's precarious financial condition, and he is asking the courts to compel the company to hold the AGM."

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBGM-2023322&symbol=BGM®ion=C
J. Frank best be treading carefully because the opposition includes former Placer Dome Inc. president Mr. Peter Tomsett.

Story on the side is the fact J. Frank recently dug into his piggy bank to finance (through a debenture - Hardy Har) the rush to produce a REAL 43-101. On the other hand we have the opposition saying J. Frank has "received $7-million in compensation over the past 18 months, either directly or through a drilling company he controls".

(Forget 18 months, J. Frank's drilling company has been grossly and ridiculously profitable for 20 years+.)



Thursday, December 6, 2012

Evolution

Mr. John Good has filed a response to the lawsuit of Mr. Robert Gardner for defamation, and, well, we pretty much agree with every word.

Mr. Gardner will be forced to prove exactly how sterling that public reputation actually is, and given the encylopedia of grotesque and rock solid public facts available to any dope sittting at their computer for 5 minutes tis a fukkin lost cause.

Boyo would be smart to drop this one before a counter is filed, he ain't gonna "win" and thats a fer sure.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aGNM-2022981&symbol=GNM®ion=C


Monday, December 3, 2012

OSC targets Ernst & Young

"The Ontario Securities Commission has accused Ernst & Young LLP of failing to conduct a proper audit of failed forestry firm Sino-Forest Corp. In a rare move, the commission has levelled allegations against a firm’s auditors, saying Ernst & Young did not perform to “relevant industry standards” during their time as auditors between 2007 and 2012."

"The OSC issued fraud allegations against Sino-Forest and former senior executives in May. The case has not yet gone to a hearing."

http://www.theglobeandmail.com/globe-investor/osc-accuses-ernst-young-of-improper-sino-forest-audit/article5913025/

This blogger identified the obvious problem early on ...

"First on the public interest radar should be the all too cozy relationship between the auditor signing off on the apparently bogus financials that everybody is relying on and a bloated BoD with more alumni from Ernst and Young LLP than keys to the executive washroom.

Thomas M. MaradinVice-President, Finance (Corporate)
Joined Sino-Forest in 2005; previously worked five years for several multi-national corporations in financial reporting and internal control, regulatory compliance and system upgrading; previously worked fifteen years for Ernst & Young LLP, providing professional services in audit, taxation, risk management, strategic and business planning.
James (Jamie) M.E. Hyde, CA, C.Dir
Toronto

Director since 2004; previously Vice President, Finance and Chief Financial Officer, GSW Inc., Executive Vice President and Chief Financial Officer, Resolve Business Outsourcing Income Fund, Former Partner, Ernst & Young LLP, where he provided for 24 years a board range of professional services to public and private companies.
Garry J. West
Toronto
Joined the Board in February 2011; former Partner at Ernst & Young; With 35 years of extensive financial experience including auditing, corporate restructuring, public financings and strategic planning initiatives for a number of major organizations; Director and Chair of the Audit Committee for two other TSX-listed companies; Fellow of the Ontario Institute Chartered Accountants.


Our next area of interest are the unmitigated and sickening public touts from the likes of grossly conflicted Dundee "analyst" Mr. Richard Kelertas. Before the chit hit the fan he insisted Sino-Forest was a “class act in timberland management in China,”. Its one offensive thing to be professionally ignorant, another to deny the truth completely.

Fortunately for the public's blood pressure the powers that be have muzzled more commentary from Mr. Kelertas as every word will inevitably be placed under a judge's nose as evidence ... an outcome that should have been easily recognized the day the Muddy Waters report was released."

NOTE - Mr. Kelertas no longer works at Dundee.