start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter

1/12/19

More BridgeMark Group light: The news release from New Point Exploration (NP.cse) last night

Check this link out, (or find it on the right of NP's CSE page) quite an eye-opener on how the BridgeMark scam operated on this company. As well as names, dates and a dry chronology of director resignations, the short intro paragraph has this:

On July 6, 2018, the Company originally filed a financing at $0.25 per unit and raised $1,668,250. On July 25, 2018, as result of market conditions, the Company lowered the financing price to $0.125 per unit and closed on $4,651,000 on August 9, 2018, issuing 37,208,000 shares to the various subscribers.
 
Subsequent to the financing, the Company entered into consulting agreements with 16 different consulting firms from across North America and Europe totaling $4,226,979.

Run that again?

1) Company announces financing. Gets no take-up
2) Company drops financing. Suddenly, 2.5X more interest from a whole bunch of players with chequebooks at the ready.
3) On closing, company hands back 90% of that cash to a long list of consultants.

Get the picture yet, or do I need a blackboard and some chalk? This weekend, NP.cse is a 2.5c stock.