rbtree
2 weeks ago
They haven't done anything on the mining end.. except claim they have billions in gold, when, in fact, they don't even have any claims.
Their "claims" about what Genesis tech can do, which they don't yet control, are spurious nonsense. If the tech was anything like what they promote it to be, it would already be in the hands of some of the world's real gold producers. No unknown company is going to revolutionize gold production tech or discover or invent anything that the world's mining developers missed.
gitreal
3 weeks ago
when a company has projects and need funds to implement a business plan, it is better then getting nothing.
Are you on the right board? You're implying that STAL is a real business with real assets, mining properties, and operations. Nope, this company does nothing but issue forward looking hype......and continually lies to its investors. They still have not told investors that their "flagship" project in California no longer has valid mining claims, they've all lapsed. None of their other projects are real, they own nothing - no mining properties, no magical gold producing technology, nothing.
The $25 million line of credit is bullshit. They only "funding" they will ever get is a Toxic Note that pays their salaries, expenses, and bonusses (for what?) while the Toxic Lender makes bank. Until the Feds come down on them anyway, did you read what happened to Curt Cramer and the other toxic lenders?
Just another OTC P&D. With particularly stupid story lines.
This type of funding will be able to help immensely.
Help who? The scumbags running this scam. And the Toxic Lender.
gitreal
3 weeks ago
The "lender" for the $25 million is Keystone Capital.........a Toxic Lender. The $25 million amount is meaningless - debt will be issued one Toxic Convertible Note at a time.
They'll issue a note convertible to shares at some huge discount and the result will be dilution, dilution, and more dilution.
Fortunately, toxic lenders like Keystone are under a lot of pressure these days with some facing serious legal consequences for their predatory lending:
https://www.sec.gov/litigation/litreleases/lr-25995
LITIGATION RELEASES
Power Up Lending Ltd., et al.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25995 / May 7, 2024
Securities and Exchange Commission v. Power Up Lending Ltd., et al., No. 1:24-cv-03498 (S.D.N.Y. filed May 7, 2024)
SEC Sues Curt Kramer and Three of His Businesses for Acting as Unregistered Securities Dealers
The Securities and Exchange Commission announced today charges against Curt Kramer of Jericho, New York, and his wholly owned businesses Power Up Lending Ltd., Geneva Roth Remark Holdings, Inc., and 1800 Diagonal Lending, LLC (formerly known as Sixth Street Lending LLC), for operating as unregistered securities dealers.
The SEC's complaint, filed in the United States District Court, Southern District of New York, alleges that since at least January 2018 through at least March 2023, Kramer and his companies engaged in the business of purchasing convertible securities from penny stock issuers, converting those securities into common stock at a large discount from the prevailing market price, and quickly selling the newly issued shares into the market for a profit. The SEC's complaint alleges that the Defendants purchased nearly 2,000 convertible securities from about 325 microcap stock issuers, converted the securities into more than 100 billion newly-issued shares of common stock, rapidly sold the newly issued shares into the market, and generated millions of dollars in revenues and profits. As alleged, Kramer and his companies were not registered as dealers with the SEC or associated with a registered broker-dealer, as their activities required them to do.
The SEC's complaint charges Kramer, Power Up, Geneva Roth, and 1800 Diagonal with violating the dealer registration provision of Section 15(a)(1) of the Securities Exchange Act of 1934 ("Exchange Act"), and also alleges Kramer is liable as a control person of his companies pursuant to Section 20(a) of the Exchange Act. The SEC seeks a permanent injunction, disgorgement of ill-gotten gains plus prejudgment interest, civil penalties, a penny stock bar, and other equitable relief.
The SEC's investigation was conducted by Stephen LeBlanc and supervised by Lisa Deitch and Stacy Bogert. The litigation will be led by Suzanne Romajas, Daniel Lloyd, and Stephen LeBlanc, and supervised by Christopher Bruckmann.
Power Up Lending Ltd., Geneva Roth Remark Holdings, Inc., and 1800 Diagonal Lending, LLC (formerly known as Sixth Street Lending LLC) are all in big trouble for for operating as unregistered securities dealers.
Here's another interesting article, kind of a long read, but tells you all you want to know about toxic lenders:
https://www.securitieslawyer101.com/2021/unregistered-dealers-toxic-financings-toxic-lender-toxic-convertible-note/
rbtree
3 weeks ago
They have nothing. Even if they did still have the Troy claims, that old site has had no exploration in years. and, of course, has ZERO "gold reserves", which they said they'd use to back the (fake like AABB) gold token.....
The Genesis Tech is laughable, as well, as you know.