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| Penny Stock Forum Penny Stocks are low-priced issues, often highly speculative, selling at less than $5 a share. Penny Stocks are traded on pink sheets and the OTCBB |
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08-23-2010, 03:37 PM
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Pink Sheet Stock
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Join Date: May 2009
Posts: 20
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INCT - Innocent, Inc. (OTCBB)
Innocent, Inc., an OTCBB company
Contact Information:
Innocent, Inc.
2000 NE 22nd St.
Wilton Manors, FL 33305
Phone: (828) 489-9408
Web: Innocent Inc.
Share Structure (From document created 8/13/2010 5:48:28 PM, see source below)
Fully Diluted - 61,662,132*
Total Outstanding – 47,000,000
Free Trading – 7,000,000
Post 100% of Global Finishing transaction*
http://www.innocentinc.com/wp-conten...Fast_Facts.pdf
State Of Incorporation: Nevada
Status: Active
Articles of Incorporation filed 9/27/2006
Authorized Common Shares: 75,000,000 (No change since incorporated)
Entity Details - Secretary of State, Nevada
Innocent Inc. is a gold mining company focused on rapid growth through acquisition of high-quality in-production and near-term production properties that are performing significantly below their projected capacity. Through improvements in processing techniques and strategic investments in mechanization, we seek to rapidly increase production levels and generate predictable, sustainable value. Our current focus is on southern Ecuador supported by a strong pipeline of acquisitions in various stages of due diligence.
Company Officers
Wayne Doss, Dir., CEO
Marcus Mueller, Dir.
Transfer Agent
Island Stock Transfer
100 Second Avenue South
Suite 705S
St. Petersburg, FL 33701
Last edited by Rock Sexton; 08-23-2010 at 03:40 PM.
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08-23-2010, 03:38 PM
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Pink Sheet Stock
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Join Date: May 2009
Posts: 20
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Re: INCT - Innocent, Inc.
DD done over on IHub for what it's worth ....
Quote:
- Company owns the Maria Olivia property, which has previously produced over 600,000 ounces of gold (mining in production). Part of acquired clusters of in-production and near-term production mines in both the Zaruma-Portovelo Mining District and the nearby San Gerardo Mining District, located in El Oro Province.
- One of the largest gold mining companies, Kinross Gold, is currently operating a producing mining property nearby.
- Has proven gold reserves (144,492 ounces of inferred gold down to 200 meters) in the Murciealagos Vizcaya and Lilly Rai properties.
- According to geologist report, strong probability additional gold reserves exist down to 2,000 meters in the Murciealagos Vizcaya and Lilly Rai properties.
- Here’s some math (assume Gold is $1227 per ounce-Friday’s closing price, conservative estimate of 144,492 ounces). 144,492 x $1227.00 = $177,291,684. Keep in mind that the geologist report states that the estimate of 144,492 ounces is not only conservative, but the depth to derive at this number is only down to 200 meters. Additional mining down to 2,000 may produce greater numbers that calculated here.
- This revenue of $177,291,684 does not include the gold producing Maria Olivia property or any additional acquisitions, nor does it include silver production or any other precious metal retrieved!
- As a junior mining company, INCT is taking production head on, somewhat of a departure from most junior mining companies. Most sit around and talk about what they want to do. This company is actually doing something!
- Float is only 7 million shares!.
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08-23-2010, 04:53 PM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
making a nice start for the begining of the week!
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08-24-2010, 01:34 AM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
watch for increasing volume and new highs to come.
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08-25-2010, 04:58 AM
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Stock Market Newbie
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Join Date: Aug 2010
Posts: 8
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Re: INCT - Innocent, Inc. (OTCBB)
you need much more volume. the depots are shown on Depot Vergleich Ordergebühren. a big list
Last edited by Benzer; 12-14-2010 at 05:14 AM.
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08-25-2010, 05:00 AM
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Stock Market Newbie
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Join Date: Aug 2010
Posts: 8
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Re: INCT - Innocent, Inc. (OTCBB)
at this time its not enough. For Aktiendepot Direkt-Broker, there is a special site with the aktien topic.
Last edited by Benzer; 12-14-2010 at 05:17 AM.
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08-28-2010, 11:26 PM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
Daytrader's are having some fun here.
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08-30-2010, 12:07 AM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
INCT DD and Analysis Summary Revised 8/28/2010
Quote:
Posted by: Brick Date: Sunday, August 29, 2010 5:25:48 PM
In reply to: None Post # of 273
INCT DD and Analysis Summary Revised 8/28/2010
Innocent, Inc., an OTCBB company
We have an incredible opportunity as investors! This is the real deal
Total inferred gold 700,000 ounces for all properties x $1227.00 = $858,900,000. Calculated $168 per ounce for mining costs x 700,000 ounces = $117,600,000. Subtract inferred gold minus mining costs $858,900,000 - $117,600,000 = $741,300,000 EBITA
Contact Information:
Innocent, Inc.
2000 NE 22nd St.
Wilton Manors, FL 33305
Phone: (828) 489-9408
Web: Innocent Inc.
Share Structure (From document created 8/13/2010 5:48:28 PM, see source below)
Fully Diluted - 61,662,132*
Total Outstanding – 47,000,000
Free Trading – 7,000,000
Post 100% of Global Finishing transaction*
http://www.innocentinc.com/wp-conten...Fast_Facts.pdf
State Of Incorporation: Nevada
Status: Active
Articles of Incorporation filed 9/27/2006
Authorized Common Shares: 75,000,000 (No change since incorporated)
Entity Details - Secretary of State, Nevada
Innocent Inc. (INCT TCBB) is an emerging gold mining company focused on rapid growth through acquiring and developing high-quality in-production and near-term production properties that are performing significantly below their projected capacities. Innocent plans to improve the mechanization, enhance labor and place strategic investment in expansion to quickly increase production levels and generate predictable, sustainable value. Our main focus is on two specific Mining Districts in Ecuador’s El Oro Province, Zaruma-Portovelo and San Gerardo. We are currently working to re-register, Maria Olivia, under Ecuador’s new mining laws and have a strong pipeline of acquisitions in various stages of due diligence. Innocent is the 51% majority owner of Global Finishing Inc., which owns 100% of Global Finishing Ecuador S.A.
Company Officers
Wayne Doss, Dir., CEO
Marcus Mueller, Dir.
Transfer Agent
Island Stock Transfer
100 Second Avenue South
Suite 705S
St. Petersburg, FL 33701
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Analysis Summary:
Please take time to read this entire post once you read the Analysis Summary
Analysis Summary
- Company owns the Maria Olivia property, which has previously produced over 600,000 ounces of gold (mining in production). Part of acquired clusters of in-production and near-term production mines in both the Zaruma-Portovelo Mining District and the nearby San Gerardo Mining District, located in El Oro Province.
- One of the largest gold mining companies, Kinross Gold, is currently operating a producing mining property nearby.
- Has proven gold reserves (144,492 ounces of inferred gold down to 200 meters) in the Murciealagos Vizcaya and Lilly Rai properties.
- According to geologist report, strong probability additional gold reserves exist down to 2,000 meters in the Murciealagos Vizcaya and Lilly Rai properties.
- Here’s some math (assume Gold is $1227 per ounce-Friday’s closing price, conservative estimate of 144,492 ounces). 144,492 x $1227.00 = $177,291,684. Keep in mind that the geologist report states that the estimate of 144,492 ounces is not only conservative, but the depth to derive at this number is only down to 200 meters. Additional mining down to 2,000 may produce greater numbers that calculated here.
- This revenue of $177,291,684 does not include the gold producing Maria Olivia property or any additional acquisitions, nor does it include silver production or any other precious metal retrieved!
- Total inferred gold 700,000 ounces for all properties x $1227.00 = $858,900,000. Calculated $168 per ounce for mining costs x 700,000 = $117,600,000. Subtract inferred gold minus mining costs $858,900,000 - $117,600,000 = $741,300,000 EBITA - Float is only 7 million shares!.
- My near/mid-term target is $5.00.
- The way we understand it, company wants to uplist to AMEX by the end of 2010.
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SEC Current: Search Results
From 10Q filed July 14, 2010 for period ending May 31, 2010:
State the number of shares outstanding of each of the issuer's classes of common equity as of the latest practicable date: As of July 14, 2010, there were 30,000,000 shares of common stock, par value $0.001, outstanding.
Current Assets: $880,367
Total Assets: $880,367
Current Liabilities: $83,518
Total Liabilities: $83,518
Stockholders' Equity:
The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of one tenth of one cent ($0.001) per share and no other class of shares is authorized.
During the period from September 27, 2006 (inception) to November 30, 2008, the Company issued 4,000,000 shares of common stock at $0.001 per share to its directors for total proceeds of $4,000 and 3,000,000 shares of common stock at $0.010 per share for total proceeds of $30,000.
During the nine months ended May 31, 2010 the Company also issued 3,000,000 shares of its common stock to its president for consideration of services provided. These shares were valued at $.001 per share for total consideration of $3,000. Further during the nine months ended May 31, 2010, the Company issued 10,000,000 shares valued at $.001 for the conversion of a $10,000 note payable. Also during the nine months ended May 31, 2010 the Company issued 10,000,000 shares of its common stock for the acceptance of an $880,000 subscription receivable. The Company anticipates to receive these funds within the next twelve months and as such is included in current assets.
To May 31, 2010 the Company has not granted any stock options.
Agreements:
Upon Majority Shareholder Consent in excess of 51% of the shares issued and outstanding, Innocent Inc has entered into a agreement with Global Finish Inc, a Nevada Corporation, to acquire 51% of the issued and outstanding shares of Global Finishing Inc in a share exchange whereby Innocent Inc will issue .9 shares of Innocent Inc rule 144 restricted common stock for one share of Global Finishing Inc. The agreement has been approved by an excess of 51% of the shareholders of both Global Finishing Inc and Innocent Inc by majority shareholder consent in lieu of a meeting. The agreement was signed on May 30, 2010 by the Companies with the approval of the Board of Directors. The agreement provides for 10 working days to administer the share exchange which will result in Global Finishing Inc to exchange 13,975,208 shares of Global Finishing Inc 27, 402,369 shares issued and outstanding for 12,557,687 shares of Innocent Inc., representing approximately 25.4% ownership of Innocent committed and issued and outstanding shares of common stock. The agreement further provides for the share exchange of the remaining 49% under the same exchange provisions, and that no additional shares of Global Finish Inc will be issued until such time as the parties execute the 49% exchange or decide that not additional share exchange will take place.
Current Business:
Innocent, Inc. ("Company") was organized September 27, 2006 under the laws of the State of Nevada for the purpose of selling new food products produced or developed by North American companies to foreign markets. On August 31, 2009, the Company discontinued its involvement in the sales of tea due to a strategic change in business focus by the acquisition of mineral rights as disclosed in the Company's 8-K filed with the SEC on September 2, 2009. The Company currently has limited operations or realized revenues from its planned principle business purpose and, in accordance with Statement of Financial Accounting Standard (SFAS) No. 7, "Accounting and Reporting by Development Stage Enterprises," is considered a Development Stage Enterprise.
On September 1, 2009 the company acquired mining operations in an active working gold mine. The Board of Directors approved the Purchase Agreement from Global Finishing, Inc. (Frankfurt:G8BA) a Nevada Corporation, to purchase its interest in the Maria Olivia Concessions and Miranda PLSA, located in Ecuador, within the prospective gold and silver bearing vein systems. Global Finishing Inc. acquired the concessions from Companis Minera Monte-Verde S.A. Comimontsa in a 100% share exchange for 6,000,000 Global Finishing Inc., Regulation S common shares which represented 22.8% of its shares. Global Finishing Inc. also acquired interest in Miranda PLSA in April 2009 which will result in 100% ownership following the payment of $2,000,000. The initial payment of $500,000 was paid resulting in a 20% interest in the profit from the site. Global Finishing, Inc. spent $385,000 for the mill upgrades which resulted in an increase from 60t per day to 130t per day. This increase in output is expected to cover the balance of the payments to be made for 100% of the profits. Global Finishing Inc. at the time was using contract labor for the mineral extraction; this practice will continue through the end of the year and starting next year the current miners will become employees of the company. The company will provide additional information on the mining business in the first quarter report after meeting with the holder of the rights that were transferred to Global Finishing and Ecuador mining officials concerning the company obligations and new mining laws and procedures.
Company management will meet with officials in Ecuador the second week of January 2010 to finalize the methods of operations and insure we are in compliance with new laws and procedures that go into effect on January 1, 2010. At this time the Ecuador year end summary of operations and financial information will be available. We expect that from the management estimates submitted by Global Finishing Inc concerning the profit percent earned (20%) during the period Innocent Inc., was the transferee of the Global agreement, said profits earned should be sufficient to cover the second payment of 500,000 due under the assumed terms and conditions of the Global Finishing Inc. agreement.
As of the issue date of this report the company is still waiting for the audit report for the mining operations in Miranda PLSA to be released. We made a trip to Ecuador prior to the issuance of this report but were unable to obtain the data necessary to include in this report to reflect the pay down (credit of profit earned applied against the outstanding note). We have not received official documentation of the credit earned or shortfall toward the note payable if any. We have decided to await the filing of the audited report and at that time will make an official claim of our position in the mining operation based upon the terms of the agreement. We have retained thru Global Finishing (since they have the first hand contact with the parties) Ecuadorian Professionals to speed the process. We are in talks with the mine operator and expect to bring this issue to a conclusion and reflect the results in the second quarter filing. We have taken a worst case position in the financial report for the quarter by reporting the entire note payable of $1,500,000 due and have not applied any estimated reduction in said note against the profit earned from the 20% entitlement. Additionally, Global Finishing paid the first 500,000, which the company issued stock, we have reflected that cost in the financials at year end but have recorded no asset interest or value in the mining operation at this time.
On April 7th the Company decided to direct that the initial funding of $880,000 US held in escrow by Dr. Vicente Sanchez Jaramillo a third party of the initial agreement in Ecuador be returned. The company has received such notification that said funds are being returned to the original accounts as received. Global Finishing, Inc has confirmed in writing that said funds are the property of Innocent Inc and will be forwarded upon receipt. The company has adjusted the general ledger to reflect said funds as a subscription receivable until received. Innocent Inc and Global Finishing Inc agree that the existing agreement on Miranda and as a result of the new mining laws that went into effect on January 1, 2010, it is in the best interest of all parties to renegotiate the contract, whereby Innocent Inc will be the direct designated benefactor of the Miranda Mineral Rights and that upon the transfer of the deposit funds, Innocent Inc will be the registered holder of a percent to be determined, and said documents filed with the mining commission of Ecuador. We expect this transaction to close within the next 90 days and at that time Innocent Inc designated mining operators will operate in joint control with our Miranda partners to exercise control of the funds spent on the expansion of mining capabilities, extraction and general mining operations.
Innocent Inc has entered into a agreement with Global Finish Inc, a Nevada Corporation, to acquire 51% of the issued and outstanding shares of Global Finishing Inc in a share exchange whereby Innocent Inc will issue .9 shares of Innocent Inc rule 144 restricted common stock for one share of Global Finishing Inc. The agreement has been approved by an excess of 51% of the shareholders of both Global Finishing Inc and Innocent Inc by majority shareholder consent in lieu of a meeting. The agreement was signed on May 30, 2010 by the Companies with the approval of the Board of Directors. The agreement provides for 10 working days to administer the share exchange which will result in Global Finishing Inc to exchange 13,975,208 shares of Global Finishing Inc 27, 402,369 shares issued and outstanding for 12,557,687 shares of Innocent Inc., representing approximately 25.4% ownership of Innocent committed and issued and outstanding shares of common stock. The agreement further provides for the share exchange of the remaining 49% under the same exchange provisions, and that no additional shares of Global Finish Inc will be issued until such time as the parties execute the 49% exchange or decide that not additional share exchange will take place.
On September 1, 2009 the Innocent Inc announced the Purchase Agreement from Global Finishing, Inc. (Frankfurt:G8BA) a Nevada Corporation, to purchase its interest in the Maria Olivia Concessions and Miranda PLSA, located in Ecuador, within the prospective gold and silver bearing vein systems. Global Finishing Inc. acquired the concessions from Companis Minera Monte-Verde S.A. Comimontsa in a 100% share exchange for 6,000,000 Global Finishing Inc., Regulation S common shares which represented 22.8% of its shares. Global Finishing Inc. also acquired interest in Miranda PLSA in April 2009 which will result in 100% ownership following the payment of $2,000,000. The Board of Directors authorized approval to issuance of ten million (10,000,000) shares of rule 144 restricted common stock, at a agreed per share value of $.10 of Innocent Inc. to Global Finishing Inc., to acquire the current interest and all rights of Maria Olivia and Miranda PLSA currently owned or has rights to and of, for the purchase price of $1,000,000. Innocent Inc has been unable to secure the necessary Ecuador Mining Commission approval to acquire the property interest as a result of a change in the mining laws of Ecuador that went into effect January 1, 2010 requiring all companies to reregister their respective mineral rights, and that US Foreign Corporations must comply with the new laws via a registered Ecuador Company that the foreign entity can own once approved by the Ecuador Mining Commission. The extensive backlog of new and old re-registering companies makes the time period uncertain when Innocent Inc’s Ecuador subsidiary company Just Gold will be approved. The company has directed that the escrow agent return deposits for the Miranda PLSA to the parties involved and has been awaiting approval of Just Gold in order to proceed.
The acquisition of the controlling interest in Global Finishing Inc, will allow Innocent Inc to proceed with its Ecuador mineral interest, although given the time since the initial agreement, the agreement for the Miranda interest must be renegotiated. Global Finishing Inc currently owns the majority interest in an approved Ecuador subsidiary, Globalfinishing Ecuador S A that can legally operate and own mining interest and register new mineral rights and agreements. Innocent will retain the ownership rights in Companis Minera Monte-Verde S.A. Comimontsa and the 10,000,000 shares issued in the September 1, 2009 agreement will be offset against the 12,557,687 shares of common stock due to be issued to Global Finish Inc, for the 51% interest, leaving a balance of 2,557,687 additional shares to be issued in the share exchange described above.
From 8K filed August 9, 2010:
ITEM 1.01. Entry into a Material Definitive Agreement
Innocent Inc. Board of Directors approved an agreement whereby Global Finishing Ecuador entered into a Definitive Agreement to acquire 100% of the Murciealagos Vizcaya and Lilly Rai mining concessions in the Zaruma-Portovelo Mining District of Ecuador's El Oro Province. Innocent holds a 51% majority interest in Global Finishing Inc., The parent company of Global Finishing Ecuador S.A.
The agreement calls for an initial deposit of two hundred fifty thousand dollars ($250,000), due on August 16th, 2010 to consummate the acquisition. Five additional payments totaling nine hundred fifty thousand dollars ($950,000) will be due every sixth month thereafter. Innocent Inc. has agreed to secure and provide the funding for the acquisition.
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Press Release August 16, 2010:
Innocent Inc. (INCT): Independent Geological Report Indicates Exploitable Gold Deposits at Murciealago Vizcaya & Lilly Rai Mines in Ecuador:
Innocent Inc. (OTCBB:INCT), a gold mining company focused in Ecuador, announced today additional information in follow-up to its regulatory filing and press release of August 9, 2010. Innocent reported the findings of an independent geological report on the Murciealagos Vizcaya and Lilly Rai mining concessions in Ecuador's El Oro Province. The entire report can be viewed on the company web site, Innocent Inc..
The report, prepared by independent consultant Mr. Edgar Pillajo G., MBA. P.Eng., conservatively estimates the concessions contain 144,492 ounces of inferred gold and recommends specific mining approaches to enhance exploration and increase production.
Significantly, the report states that its estimates of potential gold resources are very conservative as they are based on mining to a depth of only 200 meters, whereas veins on the properties may continue for up to two kilometers in depth, as reported in the literature of epithermal deposits.
The Zaruma-Portovelo area, according to the report, is a large epithermal system from which only 33 per cent of the potential mineral resources have been extracted to date. The summary of the inferred gold resources are as follows:
Murciealagos Vizcaya area, 116,619 ounces
Lilly Rai - El Gallinero area, 19,259 ounces
Lilly Rai - Veta Lilly Rai area, 9,114 ounces
Total inferred gold resources, 144,492 ounces.
"This geological report confirms our strong belief that the Murciealagos Vizcaya and Lilly Rai properties hold abundant gold resources that we will be able to exploit quickly and economically," said Richard Diotte, Innocent's Vice-President, South America Operations. "Based on the report's findings, we feel the application of more advanced mining technologies and practices at the concessions could lead to the discovery of larger gold reserves at deeper depths and result in substantially higher production capacity."
Innocent is in the process of closing the Murciealagos Vizcaya and Lilly Rai acquisitions and expects to announce completion of the agreements in the near future. Immediately following signing of the deals, Innocent intends to introduce a new work plan that will rapidly expand mining operations at the two properties.
Innocent's acquisition of the Murciealagos Vizcaya and Lilly Rai concessions supports its core business strategy of acquiring clusters of in-production and near-term production mines in both the Zaruma-Portovelo Mining District and the nearby San Gerardo Mining District, also located in El Oro Province.
Geological Report Recommendations
With respect to mining operations, the report recommends the following:
- Implement a mining program in which the properties' gold-bearing quartz veins are simultaneously exploited and explored.
- The objective would be to put in place within one year at least 15 work fronts.
- The production goal initially would be 10 tons per day on each front, or 150 tons per day total.
Mining in Ecuador: A Background on the Zaruma-Portovelo Mining District.
The Incas were producing gold in the Zaruma-Portovelo area when the Spanish founded the city of Zaruma in 1549, according to the United Nations and other sources. This activity was interrupted by the outbreak of the Wars of Independence in 1810, and gold production ceased for a number of decades.
In 1897, an American mining company, the Southern American Development Company (SADCO), gained control of the district's main gold deposits. In the 53 years that followed, SADCO recovered some 3.5 million ounces of gold and 17 million ounces of silver from 8 million tonnes of ore mined from its Portovelo-Zaruma and Minas Nuevas operations.
The bulk of gold, silver and base metals was produced from the Portovelo Mine at the southern end of the Portovelo-Zaruma-Minas Nuevas mineralized vein system. The Portovelo shaft reached a depth of 660 meters below surface and the mining operations on the multiple vein system extended over 2.6 kilometers of strike.
By 1946 SADCO stopped all exploration and development work and concentrated on mining the remaining high-grade stopes (cut-off grade of 12.5 g/t of gold).
Subsequent mining activity in the area has been mostly by relatively small and informal operations owned by individuals and small miners' associations from shallow underground workings.
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Press Release August 26, 2010:
Innocent Inc. (INCT) Completes Acquisition of Murciealagos Vizcaya and Lilly Rai Gold Mines
Innocent Inc. ("Innocent" or the "Company") (OTCBB:INCT)), a gold mining company focused in Ecuador, announced today that Global Finishing Ecuador (GFE) has acquired the currently producing Murciealagos Vizcaya and Lilly Rai mining concessions, located in Ecuador's El Oro Province. Innocent Inc. is the majority owner of GFE via its acquisition of 51% of Global Finishing Inc.
According to an independently produced geological report released by Innocent on August 16, 2010, the Murciealagos Vizcaya and Lilly Rai properties conservatively contain 144,492 ounces of inferred gold. However, this resource estimate is based on mining to a depth of only 200 meters.
The report further indicates that the gold veins on the properties may continue to a depth of two kilometers. This suggests the size of the actual gold resource could be substantially larger.
"We are extremely excited to have completed these acquisitions, which we believe have been significantly undervalued and represent a great opportunity for our shareholders," said Richard Diotte, Innocent's Vice-President, South America Operations. "Our plan is to immediately introduce an aggressive new production plan that will involve opening up multiple new work fronts and mining to deeper depths."
The Murciealagos Vizcaya and-Lilly Rai concessions are part of the Zaruma-Portovelo Mining District, which is one of Ecuador's historic gold-producing regions.
"These acquisitions fit perfectly with our business strategy of acquiring clusters of in-production and near-term production mines that are performing far below their true potential," added Mr. Diotte. "The previous owners of the Murciealagos Vizcaya and Lilly Rai properties principally employed small-scale artisan mining methods. We intend to invest in mechanization and skilled labor to expand production to the mines' full capacities."
Under the terms of the purchase agreement, the Company will pay a total of $1,200,000 USD for the properties, with the initial down payment of $250,000 USD already delivered at the time of signing. Five additional payments totaling $950,000 USD will be due every sixth months thereafter. Innocent Inc. has agreed to secure and provide the funding for the acquisition.
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Share Structure (From document created 8/13/2010 5:48:28 PM, see source below)
Fully Diluted - 61,662,132*
Total Outstanding – 47,000,000
Free Trading – 7,000,000
Post 100% of Global Finishing transaction*
Innocent Inc. Mission & Objectives
• Become a mid-tier gold producer in Ecuador
• Increase production through acquisitions, enhancement of milling operations and the hiring of additional skilled workers.
• Achieve 50,000 oz. of gold production within first 12 months
• Achieve 100,000 oz. of gold production per year (within 24 months)
• Achieve 200,000 oz. of gold production per year (within 36 months)
• Obtain project financing in the amount of $ 12.5 million
Management
Wayne Doss, President and Director
Wayne Doss, 56, is the President and Director of Just Gold. Mr. Doss has worked as a CFO and CEO in public and private companies for more than 25 years. For nine years, Mr. Doss served as CEO of Keller Industries, a $250,000,000 building products company with 4,000 employees. Over the past five years, Mr. Doss has consulted and served in various capacities assisting small public companies with start-ups, interim officer positions, accounting issues and regulatory filings. Mr. Doss is a graduate of the University of Maryland with degrees in accounting and business management.
Richard Diotte, Vice-President, South America Operations
Richard Diotte began his career in the securities industry, where he spent 13 years successfully managing institutional and retail portfolios with Burns Fry Limited and Nesbitt Burns, which later became Nesbitt Thomson. Mr. Diotte has developed a strong network in the resource sector and managed exploration budgets exceeding $10,000,000 for advanced mining prospects and production start-ups. More than once, these transactions were made via public companies with market capitalizations ranging from $2 million to well above $100 million. Mr. Diotte graduated from the University of Laval in 1982 with a B.A. in Economics.
Marcus Mueller, Director
In 1990, Marcus Mueller began international trading of various steel, building and other products into Germany from Korea, France and China. In 1998, Mr. Mueller joined Klockner & Co. Group, recognized as the largest independent steel and metal distributor by turnover worldwide. As Vice-President, Trade and Finance in Canada, he was responsible for international sales and purchases (various products) and all associated contractual, financial, logistics and taxation requirements. In 2005, Mr. Mueller established Trading House Worldwide Corp, which provides consulting services to the steel and iron ore industry and specializes in international trading in steel from Asia, the Middle East and Europe into NAFTA and international trading of raw materials and metal scrap.
Source: http://www.innocentinc.com/wp-conten...Fast_Facts.pdf
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Brick
This post is in my opinion
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08-30-2010, 12:09 AM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
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09-02-2010, 12:54 PM
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AMEX Stock
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Join Date: Jul 2007
Location: Jacksonville, Fl
Posts: 704
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Re: INCT - Innocent, Inc. (OTCBB)
Looking good here today!
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