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11/30/17

The Alset (ION.v) scam: The quarterly financials tell the real story

This evening Alset Minerals (ION.v) filed its financials for the quarter ended September 2017, so take a minute to check out the balance sheet of this stupid scam, run by the nefarious double-speaking Allan Barry Laboucan:


There's nothing here, it's an empty shell. Having burned though $164k in cash in the quarter (with a quarter of that going straight into the back pocket of Allan Barry in cash) it had just $114k left in the kitty at the end of the quarter. Not only that, but the real near-term situation as seen by company working capital is dire, they were at negative $100k+ at the end of the last quarter. Since then ION.v has raised $200k via yet another dilutive placement (share count now up to 56.34m, up 17.2m from the same quarter last year) but even that only keeps the lights on until the the start of 2018 max....and these jokers are trying to make out they're doing significant exploration work on their Chinchilla pasture.

The future of ION.v is easy to guess: it either dilutes the share count heavily (if they're lucky enough to find a sucker willing to buy in) or it simply wilts and dies, which is a far cry from the blather and nonsense the lying toerag Barry foists upon the naive fools at CEO.ca every single day (amazing that a CEO of a junior mining company has so much time to dedicate to spouting crap on a bullboard, no?). This company is a classic Vancouver nothingburger with mediocre assets, pathetic management and no cash.

But instead of my ranting, let's leave the final word to ION.v itself, as the one thing about Regulatory Filings is that unlike the constant BS that spews from the mouth of the lying scumbag Allan Barry, the company is required by law to tell the truth about its situation. Therefore we quote from Note 1 of the financial statements, as after listing a few of the obvious material deficiencies at the company they state this:
"These material uncertainties cast significant doubt regarding the Company’s ability to continue as a going concern."

Quite right.