I even asked Gordon of the Santa Maria mine why did he agree to sell his mine to ORXX. I was informed because of the Haber Gold Process. I also asked everyone if the drop in price would affect the shares to be issued on the closing of this acquistion. I was told no that the contract terms were set at an aggregate amount of $30,000,000.00 or simply put 10M shares of 2 years restricted stock with an AMSC of $3.00.
$30 Mil, eh? Well, since you like documents, check out this one, dated 5/18/99: recorder.maricopa.gov
Note first that it's for "Santa Maria Mining Company, LLC, P.O. Box 20238, Wickenburg, AZ 85358." That's a match on both the company name and the town, so I think we agree it's the same company ORXX plans to acquire.
Note secondly that the document is a "lien on all property and rights to property, whether real or personal, from the date the amounts came due." Thirdly, note that the date of delinquency is 8/1/97 for a whopping $196.80, including interest and penalties, as of 5/31/99.
So, are we to believe that a property that was 10 days away from a potential seizure for failure to pay a few hundred bucks owed for approximately two years, is worth $30,000,000?!
- Jeff |
