 | Most find numbers boring. For dopes rolling the bones on venture chit they best have a minimal appreciation of the size of the pee pee up their behind holes. There is something stinking in Mr. Alex Black's RIO2 and it ought not take audited numbers to (eventually) figure it out. Co raised $ 10m through 'subscription receipts' for "additional infill drilling of the higher grade areas and studies related to completing a definitive feasibility study for the Cerro Maricunga Gold Project, expenses of the Arrangement, as well as for general corporate and working capital purposes." That number ended up being $ 9.1m and the dough appeared at the end of July. Net assets were about $ 13m. |  |
 | The latest reported numbers dated September 30, tell us net current assets were now around $3m, and this jives well with a statement of cash flows saying a whopping $ 10.2m was blown in 9 months. So we can state that in 60 days this co offloaded millions. Where (the fuk) did it go? There was no drilling and no work on the flagship save 'desktop studies'. There are no expenses reported explaining the missing dough. The only thing left is that many millions was paid out and then booked as an addition to capital. (i.e. Capitalized) |  |
 | From what we know about the BridgeMark scam, the 'cheque swap' occurred when funds were advanced. That means the dopes behind the financing documents (DLA Piper) had to have handled the agreements regarding the kickback of those funds as well. Given the incestuous relationship between those involved here it absolutely, positively appears a fraud of massive proportion has occurred. |  |
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