Potse
3 years ago
Becoming very uncomfortable with this investment......
I would think Feldman would be able to pivot VOHO in another direction if something in the mining sector did not materialize or develop the way he wanted. Similar to what he did with his current Australian company (Cann Global Limited) which moved primarily from the mining sector to cannabis.
Shareholders in Sholom Feldman's other public company (Cann Global Limited) are becoming increasingly alarmed/angry over dilution and transactions that have been occurring with that company. I haven't monitored in-depth all of the activity/details of that company, but it does seem like the shareholders have legitimate reasons to be concerned. Some of the transactions certainly leave a bad taste in your mouth, and the level of dilution seems excessive/needless.
All of this is making me very concerned with the VOHO position I have accumulated. Risk/reward looks less favorable now than when I first started buying this stock. Definitely not getting a warm-and-fuzzy feeling about my VOHO position. I may end of regretting this, but I am probably going to just hang on to my position, cross my fingers again, and hope something positive develops here.
At this point I think I would be much more comfortable seeing the Feldman's sell their VOHO control shares to a completely arms-length third-party, and see VOHO move in a completely different direction. From a retail investor perspective, I think a sale of the VOHO shell and a subsequent reverse merger would offer the best opportunity to get a decent return on my investment here.
https://www.smh.com.au/business/companies/diamond-joe-s-sister-pnina-feldman-flying-high-on-shareholder-funds-20211118-p59a8r.html
https://www.smh.com.au/business/companies/mystery-over-pot-stocks-diminished-interest-returns-from-10-million-20211124-p59boa.html
Potse
3 years ago
WHITTENHALLJR...not sure about the float.....
Any idea what the float is?
I was hoping the filings would be a little more detailed and include the share ownership structure, but Sholom included basically just the financial (income/balance sheet) related material. Hopefully future filings will provide a little more insight into the structure.
The last SEC 10-K filed by VOHO was for the fiscal year ended June 2010. The outstanding share count has only increased by 1M shares during the past 10+ years. Although a lot could have happened during that time period, my hunch is that the total number of shares controlled by the Feldman's probably has not significantly changed (maybe give or take a couple million or so). At the time of that filing, Pnina Feldman owned 96,666,667 shares (90.7%).
So my best guess is the float is probably around 10-11 million shares. But that is just a guess on my part.
Potse
3 years ago
Traderfan...SEC deadline......
Potse, aren't you concerned that the stock won't make the SEC deadline end of september while still being dark right now? That's the only problem here that I see.
The SEC deadline is definitely a concern. I'm planning to hold VOHO and a number of other dark shells/situations past the deadline if need be, and cross my fingers that they will eventually become current. I'm still actively accumulating certain shells/situations before TD Ameritrade shuts the "buy" door and the September deadline hits. I added a few more shares of VOHO today at 3.45 and 2.1 cents.
Whether buying these companies now will turn out to be a smart decision will depend on a number of factors:
1) Is present or future management actively looking to go current (which is something that is not always easy to actually assess or predict). You could have a shell or operating company that has a management that is completely non-interested in the public listing aspect of his company, but then something/someone comes along that completely changes the situation. Strange things can happen.
2) Now that OTC Markets has basically been appointed to a GOD-like position by the SEC, how difficult/easy will OTC Markets make it for dark companies to go current after September 2021. I think this will be an important issue for every OTC investor, because it is not uncommon for even competent management to find themselves in situations where they are late in meeting filing/update obligations.
3) Once the deadline passes and liquidity dries up in those dark companies, how aggressive will the SEC be in trying to completely wipe those tickers out of existence.
Regarding VOHO: I would be somewhat surprised if Sholom Feldman did not do something with VOHO at some point. If the transfer agent share count is accurate, there is a pretty good chance that the Feldman's still have control of over 90% of this stock. So, depending on what the debt situation might look like, VOHO would be worth a pretty good chunk of money to the Feldman family.
Based on the actions/information available around late 2020 and early 2021, it looked like the company had every intention of doing something with VOHO. VOHO's counsel (Cassi Olson) registered a "Volcan Holdings" in the state of Wyoming shortly after VOHO was reinstated in the state of Delaware (so I assume they are/were planning to switch the corporation to Wyoming), and then they put up that investor presentation on a related website.
https://opencorporates.com/companies/us_wy/2020-000954292
I would think Feldman would be able to pivot VOHO in another direction if something in the mining sector did not materialize or develop the way he wanted. Similar to what he did with his current Australian company (Cann Global Limited) which moved primarily from the mining sector to cannabis.
https://www.canngloballimited.com/
Potse
3 years ago
VOHO(.05)...accumulated a position.....
I accumulated a VOHO position this week in the 3-5 cent range. Definitely high risk, but probably worth taking a chance here given how many of the dark mining stocks have had some pretty nice runs recently. An OTC update, filings, or completion of the Ecuador gold concession acquisition would probably lead to extremely nice upside.
The January 2021 investor presentation for Volcan Mining Limited (a wholly-owned subsidiary of VOHO) provides some information about VOHO's recent business activity/plan. Assuming this plan has been or is still being implemented, VOHO has a new CEO (Robert J Washer) and VOHO's subsidiary will hold the gold concession that VOHO is acquiring and the subsidiary is expected to be listed on the Australian stock exchange (ASX).
Slide 2 of the January 2021 presentation.......
Volcan Mining Limited (“VML”) Capital Raise Share Offer for potential ASX listing & global institutional investors:
The Offer is for (Section708 Sophisticated & Professional excluded) investors to subscribe for new ordinary shares in Volcan Mining Limited (A.C.N.646773104) at ten cents ($0.10) per share. This capital raise is via new pre-IPO share issue of up to 50,000,000 shares@ 10 cents per share to raise $5 million dollars. The funds raised will be spent on an initial sampling and gold testing program followed by the setting up of a 1000 cubic metres per day alluvial gold mine plant which is estimated to initially produce approximately 18,000 ounces gold per annum. Currently there are 200,000,000 VML shares on issue.
Subscribers of this pre-IPO seed raising will also have the right to receive a payment as a capital return in physical gold or cash equivalent for the same dollar amount of their share investment, to come from 50% of the profits generated by the gold mining operations at the Volador concession.
Volcan Holdings Inc “VOHO” incorporated wholly owned subsidiary Volcan Mining Limited (“VML”) to be listed on the ASX in 2021 via an Initial Public Offer (IPO) prospectus aiming to float once gold is produced at the Volador concession. Subscribers have an option to convert to VOHO OTC listed shares on a pari passu equal value basis and at any time prior to the close date.
VML will hold 100% of the Volador gold concession. Other prospective high grade hard rock gold and silver mine concessions in Ecuador are also currently being reviewed for potential deals and acquisition to further bolster the company asset base diversification, increase the share value and strengthen the short to long term profitable cash flows.
Slide 4 of the presentation......
Corporate background: Timely acquisition of the Volador gold concession southwest Ecuador
In October 2020 Volcan Holdings Inc VOHO signed a Heads of Agreement with All Metals Mineria S.A. to acquire 100% interest in the Volador alluvial gold concession in Southern Ecuador. The acquisition consideration is an issue of 226M shares in VOHO to various vendor entities, $650,000 in staged cash payments, plus a life of mine 5% net smelter royalty.
The principal Volador concession vendor and renowned Ecuador based gold mining magnate Mr Robert Washer has agreed to join the VOHO Board of Directors as the new Chief Executive Officer. This appointment brings VOHO vast hands on gold mine building and operational experience, expertise and knowledge, Robert being a proven southern Ecuador gold mine founder and highly successful profitable gold mine operator in Ecuador for over 25 years, particularly in the surrounding area of the Volador project.
Robert J. Washer, international adviser of All Metals S.A., has over 40 years experience in the mining industry including advanced exploration, mine development and gold production in various projects he developed in Australia with the implementation of 6 mining operations including being responsible for the biggest ball mill in the Western Hemisphere to produce 2 million tons ore per year for Broken Hill Metals and he also constructed the first continuous carbon and pulp plant in Western Australia for Kiora Gold. Robert Washer has been exploring and operating in Ecuador over the past 25 years, where he implemented and operated a 1000 ton/day Gold Mine in Zaruma just north of the Volador concession, for Dynasty Metals & Mining Inc.
David Evans BSc (Geology and Environmental Science) has also joined VOHO as an Executive Director. David was a founding Director and shareholder of Australian unlisted public company Rio Dorado Limited which owns and operates the Sabaleta Gold Mine in northern Ecuador. David will be General Manager of VOHO’s Ecuador subsidiary company and the Volador Gold mine team.
The Directors of VOHO are currently evaluating significant advanced hard rock gold and gold mine concession(s) and deposit acquisition opportunities in Ecuador to maximize the potential exponential growth trajectory of the Company and add further significant shareholder value.
Volcan Mining Limited website......
https://www.volcan.com.au/
January 2021 presentation......
https://www.volcan.com.au/wp-content/uploads/2021/01/VML-presentation-10.01.2021-2.pptx
seankonnery
15 years ago
I have recently verified from my sources that an announcement is forthcoming, about VOHO going into production as soon as next month. After two years of raising funds and working out a deal with a Chinese aluminum manufacturing company, VOHO will finally be on the road to being one of the biggest bauxite producers in the world. With Alcoa trading at around $15 and steadily rising, VOHO should be able to hit its target price of $5.50-6.00 very quickly. Commodities are on the rise with an expected global recovery, and developing countries like India are especially demanding the materials that VOHO will provide.
In addition, miners on the company's land in Australia have discovered a bonus - sapphire stones!
We look forward to hearing more good news from Volcan Industries over the next few weeks.
It is now time to remain VERY BULLISH on VOHO!
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