Shareholders Update from Grass Valley (John Andersen)
First off thank You to those that have actually bothered to call us for updates. While it is our intention to keep you all informed, as much as possible it does not have to be in the form of posting on the WWW. For the benefit of you who do not have my number it is (530)477-0834 (Larrys as well) or you can e-mail me aikox2@yahoo.com. I have just returned from a visit with my family in Michigan and am catching up on the many emails I have received while away. If you have not yet received a reply it is on the way, sorry for the delays.
Now a little update for you all. As you all are probably aware the shareholders meeting was postponed to a date TBA. We would have released this in the form of a PR but the cost of doing so is rather high considering our limited budget at this time (PR's run $800.00 a pop) additionally the large number of shareholders of BCMD makes it quite expensive to produce and process the required materials for a shareholders mailing (we were not aware of the large number of shareholders until after the meeting was announced). (Approx. $30,000) As some of you be aware myself as well as Larry are continuing to work without a salary to preserve the finances we have available as we feel the money is better spent completing the work needed to make our efforts successful. We have gained a good deal of ground in the past few weeks and as some of you may know we had placed an ad in the WSJ and that has proven to be extremely helpful in allowing us to move forward. We are fortunate to have a good deal of offers to work with from the ad as it has created a great deal of interest in our plans. We have several parties interested in both aspects of our business plans, the Gold Mines and US Cement. We are all working continuously to seek out the best offer to accomplish as much as we can and to satisfy all parties involved. Unfortunately this does take time, I share your desire to see this come to fruition, the faster it does the sooner I will have my family back in tact, I am very motivated to get this done as well as Larry.
Many of you are also justifiably concerned about the previously announced Reverse Split, I will let you all know that since NASDAQ has already moved us to the BB at this time it is not necessary. This is not to say that down the line it may be necessary but only necessary to close a deal should the RS be a requirement by the party providing the financing (to date this has not been an issue). Should this arise as previously done you will be notified, no need to dwell on this further as now it is a non-issue.
Additionally many of you have been asking as to what our intentions are with the mining operations. The potential of our properties has not gone away; in fact they are in better shape than they have been in some time. We would like to begin production again in the spring but of course this would be contingent on completion of financing. The channels (in the Lawry/Ruby) are accessible, the Lower Brush Creek has several good headings accessible and there is interest from outside parties to assist us in bringing the mines into actual production. There are minor issues to deal with in the spring, and they are indeed minor. The tax situation has been dealt with and pacified for the time being. The company is not in that bad of shape as some may think. We have been able to accomplish a great deal in keeping the company afloat with the limited funds we have had to work with.
The US Cement website is updated regularly (http://www.uscement.com) as the BCMD website (http://www.bcmd.com) is being rebuilt and I hope to unveil our new BCMD website soon. I will urge you in the meantime to feel free to call us or send me an e-mail and I will help you any way I can. We are making progress, albeit not as quickly as we had initially intended but we are making good progress.
As far as future posting on both SI and Yahoo are concerned our attorneys have informed us that posting to the Internet is not considered adequate disclosures to all shareholders, and therefore we should not announce anything material unless we combine it with a press release. While we can talk in our investor relations department with individual shareholders, we have to be careful about publicly released information (such as a bulletin board), which does not actually get to the entire shareholder base.
We appreciate you understanding this subtle difference.
We are here, we are busy and hope you will take the time to communicate with us. Thank You to all who have given us your support.
Please direct your inquiries to:
John Andersen
Investor Relations
11117 Lower Circle Drive
Grass Valley, CA 95945
Telephone:
Home (530) 477-0834
FAX (530) 477-6020
E-Mail: aikox2@yahoo.com |
