posted
Yes, Im confident that this will move... someday. I will hold my free shares, and my bazillion preffered shares as long as it takes!
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quote:Originally posted by JOELGA: Yes, Im confident that this will move... someday. I will hold my free shares, and my bazillion preffered shares as long as it takes!
Pearl Asian Mining Industries, Inc. (Pink Sheets: PAIM) requested on Monday that Shareholders entitled to receive their preferred shares dividend contact their stockbrokers by March 31, 2006 to request the issuance of the actual Preferred Share Certificates to be registered in their name(s), and to take delivery of those preferred shares. The reason for this extraordinary request is due to the belief by Pearl Asian that one or more market-makers and others may have shorted PAIM shares without first borrowing shares, creating a large naked short. Shares of PAIM closed Tuesday at $0.0001, down $0.0001 on the session, on volume that exceeded 1.5 billion shares traded.
Do it boys and girls! Put the MMs In hock. --------------------------------------------------------------------------------
-------------------- Buy when blood runs in the streets
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posted
Some light reading, I dont beleive this is a fraud.
PINKSHEET’S ISSUER INFORMATION AND DISCLOSURE STATEMENT PURSUANT TO RULE 15c211 (i). NAME OF ISSUER: PEARL ASIAN MINING INDUSTRIES, INC. (Incorporated: State of Wyoming, U.S.A.) (ii). ADDRESS: PHILIPPINES: 3101- B East Tower, PSE Centre - Philippine Stock Exchange, Exchange Road, Ortigas, Pasig City, 1605 +63-2- 490-0140 * Fax: +63-2-490-0144 TELEPHONES: IR # 1(770) 336. 5824 Fax # 1(877) 317.4430 Direct # 1(866) 732.7888 URL http://www.PearlAsianMining.com Or For Daily Progress Reports http:// www.***********************.com Enter Symbol: PAIM CONTACT: E. Pearl Asian (iii). DATE OF INCORPORATION: July 29, 2005 State of Wyoming, USA Certificate # CID- 2005-00497110 (iv). CLASS OF SECURITIES & PAR VALUE: A. COMMON: CUSIP # 704755 10 7 Symbol: PAIM Wyoming Corporation: Par value = $0.001 B. PREFERRED: CUSIP # 704755 20 6 Symbol: tbd (?) Wyoming Corporation: Par Value = $0.00000001 (v). TOTAL NUMBER OF SHARES OUTSTANDING: COMMON PREFERRED (As of March 13, 2006) A. Authorized UNLIMITED UNLIMITED B. Outstanding 30,044,316,000 App. Over 30 Trillion C. Freely Tradable 5,044,316,000 App. over 2 Million ( Public Float) (Effective March 31, 2006) App. 30 Trillion D. Number of Shareholders App. 5,000 App. 5,000 (vi). LIST OF OFFERINGS OF SECURITIES: whether private or public by the issuer within the two year period ended on the last day of the issuer’s most recent fiscal year and from such day to the date the issuer has provided information in response to this item: NONE (vii). NAME AND ADDRESS OF THE TRANSFER AGENT AMERICAN HERITAGE STOCK TRANSFER CORPORATION MARKHAM, ONTARIO, CANADA L3R 0G4 (416) 496-6914 Registered with the U.S. S.E.C. under the Exchange Act of 1934 (viii). NATURE OF ISSUER’S BUSINESS (OTC Symbol : PAIM - Common) Gold, Silver & Precious Metals Industry Exploration, Development & Production About the Company Pearl Asian Mining Industries, Inc. is an international mining company exploring the world for opportunities to open or reopen mine facilities and develop them into productive and profitable operations. Utilizing a debt-free Financial Statement, and world-class mining expertise, PAIM is recognized for its leadership in the mining industry. Pearl Asian Mining Industries Inc. was created in the spring of 2003 to fulfill the vision of a highly profitable business based on the mining of gold and other God-given mineral resources. Drawing on world-class and world-renowned mining, mechanical, electrical & civil engineers, geologists, and support teams, Pearl Asian Mining Industries, Inc. is a growing international mining operation that is working to realize the potential of previously underdeveloped mining operations. Pearl Asian (Symbol: PAIM-OTC US Stock Market) is fully committed to both its investors and the host communities in which it operates and will use its impressive technical resources to ensure the best for all parties. Whether addressing returns on investment or health and safety protection, Pearl Asian Mining Industries pledges the highest degree of concern. Pearl Asian Mining Industries Inc. (PAIM) currently owns 100% of the 12 mining claims in the Vancouver Island, British, Columbia, Canada. PAIM owns 100% of the Mining Operation Agreement (MOA), a joint venture with the Pearl Asian Mining Industries- Domestic Philippines Corporation, the local Philippine Claim Holder. PAIM is entitled up to 40% Equity Net-Profit Mineral Sharing of the Pearl Asian Mining- Domestic Philippines Corporation, that owns 100% of the Small Scale Mining Permit (SSMP) claim right and staked to operate on the 20 hectares of the XYZ Gold Mine Site. Pearl Asian – Philippines has a pending application approval for its Philippines' Mining Production Sharing Agreement (MPSA) for overall total 1,800 hectares of the XYZ Gold Mine Site. MPSA is the equivalent of the Mining Rights in US & Canada. Pearl Asian's mission and vision is to partner with the Philippine Government and its local host communities in order to acquire abandoned mines with known and proven gold reserves left for centuries. In addition, Pearl Asian is involved in providing products and services targeting the small scale miners in order to create an orderly and sustainable gold and mineral productions that promote the growth of this newly-born, Mining Revival Industry Sector of the Philippines. This Small Scale Mining is a Community Livelihood Economic Base that covers 1% of the total Philippines Gold Mines and a substantial amount of Gold production output. PAIM has selectively engaged highly qualified engineers and support team personnel into the organization and who have the right contacts and connections that could compete reasonably well in this business. Pearl Asian Mining Industries management, with their in-depth experience selectively screens mineral claims with low potential risk. These potential risks, such as the presence of Indigenous People or claim with ancestral domain, security, peace & order problems, presence of small scale miners, political problems, N.G.O. oppositions, etc., are considered hindrance in the success of the mining industry. The advantages of the Pearl Asian (PAIM) over the competition includes the engagement of the right key management group and team of highly qualified and experienced all around Engineers who are really knowledgeable of this kind of business; use of minimized risk by claim selection and screening; engagement of Geologists with hands on experience of the area or the potential mineral claim; and engagement of experienced Chemists and Metallurgists to process and extract the gold, silver and other precious metals from the rest of the minerals present in the raw ores, with consideration of the use of non-toxic chemicals or substances, and the use of safe Chemical Assay that may have effect on the safety of the people and the environment.. Following the reversal of the decision by the Supreme Court of the Philippines legitimizing the New Mining Act of 1995, a number of interested investors both local and foreign groups has started to generate interest on mining in the country. The big competition is more on the filing of mineral claims and the potential joint venture with the local claim holders. Similarly, the economic boom in China opens door to mining business where the demands of minerals particularly in the supply of raw materials such as Iron, Manganese, Chromite, Nickel, etc. hence making claims on mineral lands competitive. Pearl Asian Mining Industries Inc. (Symbol PAIM) is a multi-national mining company incorporated under the Laws of the State of Wyoming, USA on July 29, 2005. It was originally and concurrently incorporated under the Laws of the Province of Ontario; Extra-Provincially Incorporated in the Province of British Columbia, Canada in 2003. It is also incorporated under the Laws of the Republic of the Philippines, and duly registered with the Philippines SEC. Pearl Asian Mining Industries, Inc. is leading the Filipino mining industry into the 21st century. Pearl Asian Mining currently trades on the OTC under the symbol: PAIM. NOTE I. Pearl Asian Mining Industries, Inc. is now waiting for the final issuance of the certificate of its Mineral Production Sharing Agreement (MPSA) Certification & Claims, Permit & License to perform mining operations in the Philippines (an equivalent of the mining rights in the US & Canada). On Nov. 22, 2005, Pearl Asian has received the Small Scale Mining Permit (SSMP), a claim right to stake and mine on the 20 hectares of the XYZ Gold Mine Site. MPSA application & approval was issued by the Region V- Mines & Geosciences Bureau on October 4, 2004. The final MPSA Certification is to be issued by the DENR, is a mining claim right to stake and to operate with the proven reserves of GOLD, SILVER- COPPER in the XYZ Baleno Gold Project. a) MPSA Application (APSA-000320-V, Area of 751.8843 hectares) b) 1,100 hectares of land in Baleno Exploration Permit Application (EXPA- 000041-V, Area of 1,127.5939 hectares) c) SSMP Certification on 20 hectares – Exploration and operation of the XYZ Mineral Deposits. The XYZ GOLD MINE SITE is a Pre-World War II Gold Mining Property with High Grade Gold Ores containing an average of approximately 90.37 grams per ton of gold and 533.6 grams per ton of silver. After installation of 50-250 tpd (tons per day) Mineral Processing & Production Plant, PAIM will and can process an average of 15 grams of gold per ton of ores per day and can produce an estimated 3,750 grams of Gold or 120.57 Troy Ounces of Gold per day. In 1997, A Canadian Company (Pottinger - Gaherty Evironmental Consultants Ltd., CANADA). did a written exploration and feasibility report showing the following. Estimated Monthly Revenue at the cost of US $400.00 per troy oz. 120.57 oz X $400.00/oz = app. US $ 48,228.00 per day Estimated Yearly Gross Revenue : $ 48,228 per day X 269 days per year only = USD $12,973,332 Note: The cost of the SSMP & MPSA Mining Claims to PAIM was approximately $18,000.00. The value of the 12 mining claims in British Columbia, Canada is based on the historic cost of $30,000 in common stocks of PRLGF. NOTE 2. The 21.07 acres are in lot # 7 in the Keone’s Hawaiian Ranchos Estates Subdivision, Kahuku Kau, Big Island of Hawaii. This raw land is flat and ready to be developed and is one of the 22 parcels situated on an over 400 acres of the above subdivision leading towards the ocean on the southern tip of the island of Hawaii. The property is approximately 20 minutes south of the beautiful and famous Kona Coffee Plantation and 50 minutes south from Kona Airport. The Keone’s Hawaiian Ranchos Estates are located in between two developed estates called the Kona Garden Estates and the Kona Kai Estates, that are currently developed with paved roads, gated, fenced and utilities ready for hook-up. This asset is book at the cost of $200,000 which was acquired using shares of PRMN. NOTE 3. PAIM holds the Securities and are made up of 3,000,000 common shares of stock in Equity Retirement Distributions (Canada) Ltd.; is booked at $300,000.00 based on the fact that PAIM issued $300,000.00 worth of its newly issued stock for it. NOTE 4 Pearl Asian Mining acquired 100% of Western Pacific Minerals Ltd which included an undivided 100% interest in a block of 49 mineral claims commonly called the PANAMA I, II, III, IV, located in the Province of British Columbia, Canada. The properties are Located in the historic Slocan Trail Creek and Nelson Mining Districts of the Southeastern Province of British Columbia. Shareholders of PRLGF are to receive 1 share of Western Pacific for every share of PRLGF held on September 30, 2004. On October 30, 2004 the shares of Western Pacific are to be sent to the shareholders of PRLGF. Therefore the shares of Western Pacific are treated on the balance as both an asset at historic cost for PRLGF shares and as a liability because as of September 30, 2004, the investment in Western Pacific now belongs to the shareholders of record beneficially on that date. PLEASE NOTE THAT PRLGF & PRMN COMMON STOCKS ARE NOW UNDER THE PAIM COMMON STOCKS. (ix). THE FORM OF ORGANIZATION OF THE ISSUER: Corporation a. YEAR THE ISSUER WAS ORGANIZED: 2003 b. ISSUER FISCAL YEAR END DATE: December 31st c. DID THE ISSUER HAS BEEN IN BANKRUPTCY, RECEIVERSHIP OR ANY SIMILAR PROCEEDINGS: No d. ANY MATERIAL RE-CLASSIFICATION, MERGER, CONSOLIDATION, OR PURCHASE OR SALE OF A SIGNIFICANT AMOUNT OF ASSETS NOT IN THE ORDINARY COURSE OF BUSINESS: HISTORICAL INFORMATION l. April 25, 2003- Pearl Asian Mining Industries, Inc., is a Toronto, Ontario, Canada Corporation (Stock Symbol: PAMJF). On Jan. 8, 2004, PAMJF acquired 100% of Western Pacific Minerals, Ltd. (WPML) having the original 49 Silver Mining Claims in B.C., Canada. It was acquired in exchange for 17.5 Million Shares of the Common Stocks of PAMJF. ll. September 9, 2004 - PAMJF changed domicile, re-incorporated in the State of Oregon, U.S.A. with a New Stock Symbol: PRMN, with increased of 1 common share to 5 common shares Forward Split. Pearl Asian had the total outstanding of 250,000,000 Shares of PRMN. lll. September 30, 2004 – Company issued Stock Dividends. IV. December 14, 2004 - Pearl Asian Mining– Oregon Corporation (PRMN) traded 200,000,000 common shares (40%) of the WPML for 500,000,000 common shares of Mellon Research Company (Stock Symbol: MLON) for a MLON Stock Certificate bearing 500,000,000 Common Shares, booked at the cost of $5,000.00. The company only transferred to MLON the 200,000,000 Shares or 40% of the ISSUED and OUTSTANDING SHARES of the WESTERN PACIFIC MINERALS, LTD. that owned the 49 SILVER MINING CLAIMS at SLOCAN AREA, BC, CANADA. That MLON OR PYCT does NOT own Pearl Asian Mining and MLON has NEVER been involved in the management or operation of Pearl Asian Mining Industries, Inc. Prior to that trade of Western Pacific Minerals, Ltd, Pearl Asian spun off to its shareholders the other 60% of the issued and outstanding shares of Western Pacific Minerals, Ltd.. As a result of the spin-off, Western Pacific (OTC: WTPCF) (CUSIP: 959140104) has more than 1,000 beneficial shareholders, as many in common with PAIM. V. February 14, 2005 - Pearl Asian Mining Stock Symbol: PRMN had a Reversed Split 25:1. As of July 18, 2005, the total outstanding common shares of PRMN are 30, 044, 316. VI. April 14, 2005 – Pearl Asian Mining changed domicile to the Republic of the Philippines with a New Stock Symbol: PRLGF. This carried all the current outstanding shares of 30, 044, 316. VI. January 12, 2006 - Pearl Asian Mining changed domicile to the State of Wyoming, U.S.A.- New Stock Symbol: PAIM having an Unlimited Authorized Common and Preferred Shares. Effective February 14, 2006, the total number of common shares of the old symbol: PRLGF increased from 1 common share to 1,000 common shares Forward Split. The total Outstanding Common Shares of PAIM is 30,044,316,000. VI. February 18, 2006 - Pearl Asian Mining – Wyoming Corporation increased the Authorized Preferred Shares to UNLIMITED number with a Par Value of $0.00000001. The Board unanimously passed the increase to give dividends to shareholders: That for every 1 Common Shares of PAIM bought on X-Dividend Date of March 15, 2006 will receive a 1,000 Preferred Dividends to the shareholders who bought PAIM Common Stocks. The company’s record date is March 17, 2006. The Company’s pay date is March 31, 2006. NASD set the XDividend Date to March 15, 2006. VII. Pearl Asian Mining Industries (PAIM) DO NOT have any default on any loan, leases or other indebtedness or financing arrangement requiring the issuer to make payment on. Nor is there any change of control; NO increase in 10% or more of the same class of outstanding equity securities; NO de-listing of the Issuer’s securities in any exchange or NASD. There is NO current, legal, past, pending or threatened legal proceedings or administrative actions either by or against the issuer that could have a material effect on the issuer’s business, financial condition, or operation. The Company will NOT do a Reverse Split as it will decrease its current Market Capitalization. VIII. PAST, PENDING OR ANTICIPATED STOCK SPLIT: September 9, 2004 – Symbol: PAMJF Increased 1:5 Forward Split February 14, 2005 – Symbol: PRMN Decreased 25:1 Reverse Split February 14, 2006 – Symbol: PRLGF Increased 1:1000 Forward Split March 31, 2006 - Symbol: PAIM To receive Dividends 1=1000 Preferred Shares Dividends to all Shareholders that Bought Stocks of PAIM on March 15, 2006 B. BUSINESS OF ISSUER: 1. Primary and Secondary SIC Codes: CIK# 000 1317 716 SIC CODE 1040 – Metals & Mining 2. January 9, 2006- PAIM is currently conducting extensive explorations, feasibility studies, developing infrastructures, building access roads and cell sites to the XYZ Gold Mine Site. PAIM is designing and constructing a State-of-the- Art & Environmentally Friendly Gold Mineral Processing Plants on the XYZ Gold Mine Site. 3. Pearl Asian Mining Industries, Inc.- Philippines has a wholly owned subsidiary: A. Philippines Gold Mining Corporation, A Nevada Corporation (Stock Symbol: PGMC) is included in the current financial statement. PGMC will be utilized as the tool for raising other needed capital. The Company plans to issue its first Initial Public Offering (IPO) in order to raise up to $5,000,000.00 USD Capitalization needed for this intensive capitalization for the gold project and PAIM ‘s increasing growth, expansion, mine site development, real estates acquisitions, land acquisitions and all mining equipment & other mechanical plant acquisition. PGMC intends to finance the cost of the building of the Pearl Asian Metallurgical & Chemical Laboratory (PAMC LAB) and of the Gold / Silver Smelting & Refinery Facility in Mandaue City, Island of Cebu, Philippines. PAMC LAB will be generating other revenues as it will offer its Metallurgical & Chemical Assay Services to other big and small mining companies in the Philippines and around the world. 4. Philippines regulations have great impact to all mining business as a whole. Currently, Pearl Asian is in strict compliance with the Philippines SEC as well as the Government Rules & Regulations. 5. During the last 2 1/2 Fiscal Years, Pearl Asian Mining spent on start-ups, research, exploration and developments and none were borne directly by customers. 2003 $ 50,000 USD 2004 $ 160,000 USD 2005 $ 457,707 USD 6. Pearl Asian Mining spent an estimated cost on the following for the Environmental Permits, Legal Fees, Certifications and Government Compliance (Federal, State & Local) 2004 $ 80,000 USD 2005 $100,000 USD 7. Pearl Asian Mining currently employs 8 Full time employees and 18 Consulting Engineers & Other Administrative Team Supports, combined. Within the next 45 days, it will be hiring more laborers of an estimated 20 skilled Engineers and 150 unskilled workers, to complete the manpower for the XYZ Mine Site “Operation Gold Finger ”. C. INVESTMENT POLICIES: Pearl Asian Mining (PAIM) will acquire assets primarily for capital gain, growth and income combined. 1. PAIM currently owns a free and clear 21.07++ acres of vacant lots, located in the Big Island of Hawaii, USA. 2. Pearl Asian –PAIM acquired and bought the 3,000 Square Meters of industrial lot in Mandaue City, Island of Cebu , Philippines. This will be used for its own Metallurgical /Chemical Laboratory & Gold Refinery Facility, with an approximate land value of $1,000,000 USD. The estimated total cost to build and purchase the necessary machineries and equipments for the PAMC LAB & Gold Refinery Facility is $ 2,000,000.00 USD. (viii). NATURE OF PRODUCTS OF SERVICES: 1. Gold, Silver and all other precious metals are to be sold in the (LBME) London Bullion Metal Exchange, Central Banks, private electronics or other industrial companies, various companies such as jewelry makers or private individuals. 2. PAIM will have its Gold & Silver Smelted and Hall Marked into Bullion, with the Credit Suisse, Geneva, Switzerland. 3. The Issuer’s competitive position in the industry and other methods of competitions are: Local small scale miners, Big Scale Miner such as Lepanto, Philex Mines, Benguet, Placer Dome and more. 4. Pearl Asian will buy some raw ores from the small scale miners, besides mining the existing 6 tunnels and 4 trenches from its own mining claims in the XYZ Gold Mine Site. 5. Pearl Asian Mining Industries, Inc. (PAIM) has an agreement to share the net production profit (MPSA) with the Republic of the Philippines that runs between 1% to 3% for every mine site. 6. Government approval is mandatory. Pearl Asian has on file with the Region V – Bureau of Mines & Geo-Sciences and DENR (Department of Environmental & Natural Resources) the following: a. MPSA Application # APSA-0003200-V, a total Area of 751.8843 hectares in Baleno, Masbate Island, Philippines. b. EXPA Exploration Permit # EXPA-000041-V, a total Area of 1,100 hectares of land in Baleno, Masbate Island. c. Exploration of XYZ Mineral Deposits, total Area of 1,127.5939 hectares. d. SSMP – Small Scale Mining Permit, (Permit No. 005-05 O.R. No. 1956032 D, for a total Area of 20 hectares- On November 22, 2005, the SSMP has been approved, signed, certified and issued by the local government of the Island of Masbate . The MPSA Applications were already on file since 2004, just waiting for the final certification from the Secretary of the DENR. The local MGB Region V where the XYZ Mine Site is located, had already approved the applications with all its complete and strict compliance, both on the SAFETY & ENVIRONMENTAL ISSUES and PROTECTION OF ITS INDIGENOUS PEOPLE, if any. (x). NATURE AND EXTENT OF THE ISSUER’S FACILITIES: A. Philippines Corporate HDQ. – 3101-B East Tower, PSE Center, Philippines Stock Exchange, Ortigas, Pasig City, Metro Manila, Philippines 1605. LEASED - $ 1, 300.00 / month. B. Corporate & Staff Housing – St. Francis Bldg. Units 20-F, 33 E & F. Ortigas Center, Pasig City, Philippines. Purchased * $480,770 USD C. Pearl Asian Metallurgical / Chemical Laboratory & Gold Refinery Center- Mandaue City, Cebu Island, Philippines. Purchased * $1.0 Million USD D. ON-SITE Engineer Housing Staff & Mine Site Office - Masbate City – LEASED= $200.00 / month E. PEARL ASIAN MINING EMPLOYEES is adequately covered with insurance policies that includes Life, Disability, Health, Dental & Accidental Insurance & Retirement Plans. (xi) MANAGEMENT TEAM, OFFICERS, BOARD OF DIRECTORS, COUNSELS & ACCOUNTANTS: Engr. Peter C. Caleon BOARD DIRECTOR & GOLD MINING ADVISOR Peter is a native born Philippines who graduated from the MAPUA Institute of Technology with a Bachelor of Science in Mining Engineer. He continued with postgraduate studies at the International Institute for Aerial Survey and Earth Science in Daft, Holland (graduating with highest honors). He holds professional licenses of Geologists and Mining Engineer. Peter's past positions include Supervising Geologist, Regional V Director of the Bureau of Mines & Geo-Sciences, Asst. Director of Mines and Geosciences Bureau, Regional Executive Director of the Department of Environmental Resources and Asst. Secretary of the Department of Environment and Natural Recourses. Peter brings to the company his experience and valuable contacts to Pearl Asian in order to obtain all the necessary requirements by government compliance, issuance of permits and licensures needed through out the Philippine Mining Industry. Pete is the leading officer of the Pearl Asian Mining Industries, Inc.- Philippines company, responsible for the company's continuous gold mining growth and rapid expansion with the strict compliance to all government requirements.. Randolf Villanueva President Randolf Villanueva has been with the company since February, 2004. He is one of the Leading Key Officers in the development and the incorporations of Pearl Asian Mining Industries, Inc. in the Philippines. He has developed keen knowledge and hands on experience dealing with various big scale mining companies such as Benguet Gold Mines and Filminera Resources, Inc. He was involved in the negotiations with small scale miners and acquisition of various mining claims and Mineral Productions and Sharing Agreement (MPSA) Applications. Randolf has been actively involved with all the internal affairs of Pearl Asian Mining Industries, Inc. PAMI, since 2004. He presented the Pearl Asian's "XYZ Gold Projects" at Harvard Business Club Symposium sponsored by Friedland Capital in New York City in October, 2004. Randolf is pursuing his higher interest to further his studies to complete his Degree in Mining Engineering Management. Randolf Villanueva is a great asset to Pearl Asian as he will carry with him his engineering management expertise and experience: thus he will bring the new Nevada Corporation of PGMC to its next level of exchange from OTC to Bulletin Board then to AMEX. His ultimate mission is to seek the highest Return of Investments (ROI) for the benefit of all the existing shareholders and the future investors of Pearl Asian Mining Industries, Inc. PAIM. Father Ariel V.P./Community Relation Officer Father Ariel is leading the Pearl Asian Mining Industries, Inc. in the community relations and development aspect; to provide information and plans, as being channeled through meetings with the members of the host communities, the local government officials, the local and international NGO's (Non-Governmental Organizations) groups, and the Indigenous People who live in the company's mining sites and immediate premises. He is the positive force responsible to discuss to these groups of people the mutual benefit of Pearl Asian's Mission & Vision to the community, as well as the Pearl Asian's plans and developments with emphasize on the symbiotic involvement of each groups in order to attain the Pearl Asian’s Mission and Vision - The GOAL: a. To establish harmonious working relations, b. To provide sustainable jobs to the community, c. To provide health care protections, d. To provide education through scholarships to all deserving student. e. To preserve and protect the community's environment. Father Ariel is one of the reasons and the Key to the success of Pearl Asian's Mining Operation as he understands the importance of a solid alliance with the community, both personal and business levels: Working Together for a Common Cause of Harmony, Peace, Prosperity & Love. F. Pearl Asian, The Founder/Chairman A true visionary. Pearl Asian is the leading force behind Pearl Asian Mining Industries, Inc. Her ambition and drive is helping to realize the potential of valuable mining properties that have been under-developed and under-utilized for decades. She is focused on providing a profitable return for investors, coupled with her humanitarian mission, to assist in providing sustainable jobs, the gift of education for the under-privileged children, healthcare benefits for the people and environmental protections of the communities. It is also her vision to make Pearl Asian Mining Industries, Inc. as the “Model” for all mining companies in the Philippines; as the “Pioneer” to make use and leverage the involvement of the communities, the local and international NGO’s (Non-Governmental Organization), to participate in the development of the Philippines Mining Industries and to become as a One Team to help sustain the economic stability, community involvements and environmental protections of the Republic of the Philippines. In 2003, Pearl has taken a "mom and pop" mining operation in the Philippines to a fast growing multi-national gold mining company. BOARD OF DIRECTORS CHAIRMAN E. PearlAsian PRESIDENT Randolf Villanueva VP/ CRO Fr. Ariel ADVISORS Mining/Geologist Engr. Pete Caleon Plant Machineries Procuremen Engr. JR Famor Consulting Geologist Gil Apuya Geological Co. Exploration Development-Canada James W. Laird Legal Counsel / CPA / CFO Atty. Earl Diao, IV E.V.P. / Field Security MsSgt. Edward Madrid HEAD OFFICE ADMINISTRATION EVP / SEC & HRD MGR. Abegail Dormitorio EVP / AUDITOR / RISK MGMT. Arlene Balagbagan PROCUREMENT MGR. Arnel Morilla XYZ OPERATION GOLD FINGER TEAM 1. Consultant - Chief Mining Officer (CMO) Socrates Serrano 2. Overall-In-Charge Mining Engineer (OIC) Jonathan Mercado ENGINEERS-IN-CHARGE 3. Design & Plant Development Engineer (DPD) Ricardo Bernardo (To Include Cebu Gold Refinery Facility) 4. Tunnels Rehab & Underground Mines Develop. Cesar Rosales 5. Safety Dev. & Environmental Protection (SDEP) Trecero Reyes 6. Road & Infrastructures Development (RCSID) Ruben de Los Santos 7. Land Mine & Satellite-Cell Site Surveyor (LMSCS) Michael J.Penalosa 8. Senior Field Geologist Regino Selvano 9. On-Site Host Community Development Director Manolo Tecson 10.Computer IT/ Import & Export Director Gil Apuya III PEARL ASIAN METALLURGICAL & CHEMICAL ASSAY LAB (PAMC LAB) 11. Director & EIC Business Development Anthony Gary Gotanco Chief Chemical Engineer 12. OIC Metallurgist Elvis Hidalgo 13. EIC Research & Development Rochelle Laylay 14. EIC Quality Assurance / Quality Control EmyLyn Noma VISION STATEMENT Pearl Asian Mining Industries, Inc. (PAIM) will lead the Filipino mining industries into the 21st century. Pearl Asian Mining is globally committed to its international shareholders for generating excellent Return On Investments (ROI). To make Pearl Asian Mining Industries, Inc. the “Model” for all mining companies in the Philippines; the “Pioneer” to make use and leverage the involvement of the host communities, as well as the local and international NGO’s (Non-Governmental Organization; and the “A Team” to help sustain the economic stability of the Republic of the Philippines, by participation in the development of the Philippines Mining Industries, as well as the involvement of its host community and environmental protections. MISSION STATEMENT It is the ultimate mission and intention of Pearl Asian Mining Industries, Inc. (PAIM) to partner with the Philippine Government and its local host communities in order to acquire abandoned mines with known and proven gold reserves, left untapped and abandoned for centuries. Pearl Asian will make profitable business operation side by side with environmental protection and sharing of benefits to host communities through adoption of maximum efficiency and applicable state-of-the-art technologies. Pearl Asian Mining (PAIM) is teamed up with world-class, experienced, renowned & select cream of the crop Mining, Mechanical, Electrical, Civil, Chemical & Metallurgical Engineers, Geologists and other highly qualified support team members, who will become the corporate model to make a real and lasting contribution to the communities in which Pearl Asian operates considering all aspects of its safety and healthy environment. As of February 21, 2006: The officers, Directors, Consultants and Counsels DO NOT own more than 5% of the outstanding shares of PAIM. NONE of the officers or control persons have been convicted or named as a defendant in any criminal proceedings. NONE of the officers or control persons have any orders, judgments, decrees that are permanently or temporarily enjoined, barred, suspended or otherwise limited such person’s involvement in any type of business, securities, commodities, or banking activities. NONE of the officers or control persons has findings or judgment by a court of competent jurisdiction (in civil action), the SEC, the CFTC, or a state securities regulator of a violation of federal or state securities or commodities law. THERE HAS NOT BEEN any order by a self regulatory organization that permanently or temporarily barred, suspended or otherwise limited such person’s involvement in any type of business securities. (xii). THE ISSUER’S MOST RECENT BALANCE SHEET and PROFIT & LOSS & RETAINED EARNINGS STATEMENTS: See the posted 2005 Audited Financial Statement January 31, 2006 By an Independent External Auditor MARCO C. ILANO, MBA CERTIFIED PUBLIC ACCOUNTANT Cagayan de ORO, Misamis Oriental PHILIPPINES
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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quote:Originally posted by JOELGA: Yes, Im confident that this will move... someday. I will hold my free shares, and my bazillion preffered shares as long as it takes!
Pearl Asian Mining Industries, Inc. (Pink Sheets: PAIM) requested on Monday that Shareholders entitled to receive their preferred shares dividend contact their stockbrokers by March 31, 2006 to request the issuance of the actual Preferred Share Certificates to be registered in their name(s), and to take delivery of those preferred shares. The reason for this extraordinary request is due to the belief by Pearl Asian that one or more market-makers and others may have shorted PAIM shares without first borrowing shares, creating a large naked short. Shares of PAIM closed Tuesday at $0.0001, down $0.0001 on the session, on volume that exceeded 1.5 billion shares traded.
Do it boys and girls! Put the MMs In hock. --------------------------------------------------------------------------------
I called scottrade, they said dividends was aware of this and preferred shares were expected to hit on the 31st, however with this being a foreign company there could be a day or two of lag in seeing this in my account. No call or special request was necessary.
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message from rick IR from pearl. someone asked him if they were dumping and he strongly denied it.
Date: 3/22/2006 8:26:23 AM Eastern Standard Time
----------------- Forwarded Message:
Subj: RE: maybe a PRESS RELEASE telling - Date: 3/22/2006 7:28:51 AM Eastern Standard Time
******************************************************************************** NO.. Pearl Asian is not DUMPING ANY SHARES!
Solid Development Stage Companies Like Pearl Asian Mining Industries, Inc. (Symbol: PAIM) "Incubating" On The OTC: BB and Pink Sheets Are Extremely Fragile & Very Susceptible To Predatory Attacks of Crooked Market Makers.
Pearl Asian Mining Industries, Inc. (OTC Symbol: PAIM) is very sad about the news of being heavily shorted. It is the intent of the Company Pearl Asian to protect all its current shareholders from what is currently happening in its stock: PAIM. The company is doing its best to hold onto the position of being a very solid company as gold is its business. PAIM cannot be topple down by these predators who’s intent is to dilute, dissolve or take over Pearl Asian, that completely hurt the interests of ALL its common Investors and Shareholders as well!!
Pearl Asian Mining Industries, Inc. (PAIM) DID NOT & WILL NOT DUMP ANY OF ITS STOCKS INTO THE MARKET WHAT SO EVER!
PEARL ASIAN WOULD LOVE TO SEE THE STOCK GO UP EVEN JUST A $1.00 PER SHARE..
In order to educate the company’s INVESTORS and SHAREHOLDERS, we would like to pass along this information. Further studies obtained from the report of fellow company CMKX that was heavily naked shorted as well.
QUESTION: Has the SEC been aiding in the creation of counterfeit shares? Is the latest regulation released by the SEC in violation of the US Criminal code pertaining to counterfeiting? If naked shorting, and the settlement failures identified by the SEC as being associated naked shorting is abusive and manipulative, why does the SEC ignore this US Criminal code and allow the counterfeiting to continue?
ANSWER: These "counterfeit electronic book entries" are hosted by the DTCC. They are allowing for the clearing and settlement of trades involving nonexistent entities at the DTCC via the borrowing of "shares" in order to effect good delivery represents the "counterfeiting phase". This reality is borne out by witnessing the cover up frauds that need to be perpetrated in order to mask the fact that these entities are indeed counterfeit. Again the "intent to defraud" is quite obvious as you study the mechanisms of the "cover up" frauds being committed to hide the initial fraud.
We are convinced that the various State Securities regulators, if they understood the concept of naked short selling, would have had an absolute fit if they knew that the SEC was even considering allowing market makers to sell entities that don't exist and thereby dilute the equity ownership of investors in their states, or to fraudulently distribute counterfeit shares of public companies domiciled in their states.
This only illustrates how little people know about "naked short selling" and the role of the DTCC. Please do the investing public a favor. When reading through comments on Regulation SHO or discussing this matter with other regulators, please mentally
substitute the phrase, "the selling of nonexistent entities by participants of the DTCC to U.S. investors to whom they owe a fiduciary duty, in return for their cash" in the place of "naked short selling". Keep in mind that it is the SEMANTICS involved in the term "naked short selling" that somewhat legitimizes this heinous concept because legitimate "short selling" does indeed have its place in a healthy market. Our greatest concerns revolve around "naked short selling" and Rule 203, as well as Rule 201.
In regards to Rule 203(b):
1) In 1(i) we would ask that you strictly define what a "bona fide arrangement to borrow the security" entails. Does this refer to the affirmative determination rules? The current affirmative determination rules are riddled with loopholes. They
only require a broker/dealer to use its best knowledge and judgment to determine the availability of shares for loan and to notate it in writing. Where is the contract? The absence of the security on a non-audited "hard to borrow" list as proof of "borrowability" is a total joke.
2) In 1(ii) "Had reasonable grounds to believe that it could borrow the security" is unbelievably subjective. What are reasonable grounds, "easy to borrow lists"?
When writing these rules, we would suggest that you "PRETEND" that the naked short selling of micro cap securities represents perhaps the single biggest fraud
ever perpetrated on U.S. investors and the integrity of the market is at stake and that the people that have made literally billions of dollars committing this fraud are looking for any potential loophole that will allow them to carry on the commission of this
fraud ad infinitum. Plug all loopholes! Why would the SEC even consider allowing these crimes to continue?
3) In (2) we would suggest adding "or any affiliate, client or associate thereof" after the "purposes of the broker or dealer".
4) In regards to the last line of (2) "or is disproportionate to the usual market making patterns or practices of the b/d in that security", this invites a crooked market maker ("MM") that naked short sells into every order he sees to continue to do that because that IS his usual MM pattern.
5) In (3) (i) what keeps a crooked MM from just naked short selling through a different proprietary or non-proprietary account once he's caught? Please refer to the Sedona case modus operandi. These people usually work in collusion with many other
co-conspirators both on and offshore. A MM caught misbehaving can hand the naked short selling torch to a "buddy MM" for 90 days and return the favor should
the "buddy MM" get caught. The emphasis has to be on shutting down the abusive naked short selling of the
abusive BROKERAGE FIRMS, NOT JUST THE OFFENDING ACCOUNTS. IF YOU ACTUALLY PUNISH THE BROKERS, THESE CRIMES WILL BECOME LESS PERVASIVE.
6) In (3) (ii) (A) threatening to report the culprit to the NASD has no deterrent effect whatsoever. Investors are tired of watching perpetrators being fined $20,000 for stealing $5 million. Signing off on an AWC (Acceptance, waiver, consent) stating that, "I didn't do it and I won't do it again" just doesn't cut it anymore. That's how the SEC allowed the U.S. financial markets to get into this mess.
The NASD's naiveté-or complicity-in naked short selling matters is summarized in "endnote" #42 of the document we are commenting on wherein they state, "The Association (NASD) does not anticipate that a firm could properly take advantage of its market maker exemption to effectuate such speculative or investment short selling decision." Perish the thought, can you in your wildest dreams imagine an OTC market maker taking advantage of his and only his "right" to naked short sell into buy orders when "theoretically" acting as a bona fide market maker?
7) In 3 (ii) (B) withholding the proceeds of the crime for 90 days is like handing a bank robber the proceeds of the heist after a 90 day waiting period. This is a crime being committed. The motive is greed. The shares that were sold for real money don't exist, they never did. There was no intent to ever cover this naked short position. The "intent to defraud" is typically present right from the "get go" as there is usually not an imbalance of buy orders over sell orders at the higher trading levels of these "bear raid" victims. These victim companies are "targeted" because DTCC participants, in their infinite wisdom, feel that their market cap is a bit "rich" or that the prey is weak. These fraudsters are predatory. This intent is further demonstrated as the market makers don't reappear on the bid at lower levels to repurchase the shares they just sold, as a bona fide market maker would. Unethical market makers that sold millions of shares at $5 did not try to cover this naked short position at $4.80 like a "bona fide" market maker would have. Nor did they attempt to cover at $3.80 or $2.80 either. They're not even bidding at the current price level of 2-cents for that matter. The only
intent was and is the bankruptcy of the victim company. Naive micro cap investors have been getting their pockets picked systematically by Wall Street "professionals" for decades. FRAUDSTERS ARE SELLING ENTITIES THAT DON'T EXIST AND NAIVE INVESTORS ARE SPENDING BILLIONS OF DOLLARS SCOOPING UP THESE PERCEIVED BARGAINS TRADING AT TINY PERCENTAGES OF BOOK
VALUE. (think of what is "PAIM" going through)...
8) A lot of investors have 10 or 15% of their portfolio in micro cap high flyers on the OTC: BB and Pink Sheets. They want to discover their own future "Nike" while it's trading at 10-cents. Why would U.S. taxpayers that happen to invest in these micro cap companies be afforded any less protection from market maker induced fraud than those that invest in Microsoft and General Motors? U.S. investors love to
gamble. It is these thinly traded securities that are the most easily manipulated by predatory MMs and their associates in Canada as well as in offshore hedge
funds. One would think that they would need MORE protection than the investors in Microsoft if anything. Solid development stage companies "incubating" on the OTC: BB and Pink Sheets are extremely fragile and very susceptible to predatory
attacks. Unethical market makers and their co-conspirators have come to the conclusion that billions of dollars can be made while shooting these "fish in a barrel". The sobering reality is that these companies are a lot like sandcastles and naked short selling predators are a lot like beach bullies and we all know that it's a thousand times easier to destroy a sandcastle or a young public corporation than it is
to build one.
9) We believe that the naked short selling problem is much more systemic than you at the SEC give it credit for. It is the collusion and complicity amongst MMs that needs to be addressed. Watch Level 2 trading and see how they operate as "packs" or "herds" in heavily naked short sold stocks. The mere act of sending these
naked short selling accounts to naked short selling "jail" for 90 days will just result in handing the naked short selling baton to a different account or to a buddy MM. The offshore hedge funds would obviously just set up numerous accounts at many different MMs and b/ds and rotate naked short selling orders through those accounts not currently in naked short selling jail. Perhaps severe penalties, criminal and civil,
should be administered to repeat offenders while any of their accounts are in "jail". The text of the explanation didn't address it, but we assume that these illegal naked short positions in excess of the Rule 11830 parameters will be bought in as the account goes off to 90-day jail. If not, why not? Why would the SEC not require the settlement of all securities transactions in U.S. markets?
10) We believe that a prospective investor contemplating the purchase of a micro cap security on the OTC: BB or Pink Sheets has the right to see what the outstanding failures to deliver and loans masking these "fails" total up to. These are collectively
referred to as "open positions". Let's not go back to the "caveat emptor" days. If there are 100 million legitimate shares issued in the stock he or she is contemplating buying, and 300 million "failures to deliver" or "loans made to cover a failed delivery"
within the system, the prospective investor has the right to know that his purchase of 1 million shares will NOT give him 1% of the voting power of the company, 1% of any dividends distributed, or 1% of any residual equity rights in the case of the dissolution
of the company. The SEC has the DUTY to make this crime-preventive information available to the prospective buyer. Otherwise, this investor will have walked into an ambush that the regulators were well aware of because on the day after his purchase there are 400 million shares that can be sold at any instant in time should bad news arrive on the doorstep. You at the SEC are very well aware of the ambush because you have visibility of these "fails" and "loans". Please give us a "heads up"! Just as the SEC and the public have the right to know of any additional shares being
registered by an issuer, the micro cap investors have the right to know how many "counterfeit electronic book entries" are on the books at the DTCC and clearing agencies. In other words, how many shares has the DTCC illegally "registered" unbeknownst to the corporation and its shareholders. If the problem centers around not knowing the modus
operandi of the perpetrators of the fraud, then we would love to help out in the education process. Before you attack this problem, please address the reasons for the inactivity in the past so that history doesn't repeat itself. The reality is that the DTCC and its 11,000 participants represent the single largest financial cartel-indeed by far the largest cartel-on earth. The political power and influence that this body wields is beyond description. Hopefully the SEC is not intimidated by being a "David" against this "Goliath". Especially when you at the SEC have regulatory authority over the battlefield.
MEMORANDUM TO FILE July 9,2004 JUL 1 2 2004 TO: File S7-23-03 FROM: Alexandra Albright Division of Market Regulation RE: Proposed Regulation SHO, on Short Sales; File No. S7-23-03 SIA Ad Hoc Committee on LocatesIFails and NSCC Meetings During the month of June, staff of the Division of Market Regulation engaged in telephonic meetings with the Securities
Industry Association ("SIA) Ad Hoc Committee on LocatesIFails and the National Securities Clearing Corporation ("NSCC"). The discussions in these meetings concerned "locate" and "fail to deliver" processing by broker-dealers and the operation of the Continuous Net Settlement system.
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quote:Originally posted by cactus33: PEARL ASIAN WOULD LOVE TO SEE THE STOCK GO UP EVEN JUST A $1.00 PER SHARE..
I am riding free shares, and I would not mind seeing a $1 pps either. LOL
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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Anyone think this is even going to hit .0002 for the bid again in the near future? I know investing is supposed to be a long term thing but I'm greedy
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investing in pennies isnt long term.. I dont think any stock is long term.. even on wall street
EVER..... imo
maybe break even and hold free shares in pennyland for the long term. when you have the chance.
im not here trying to get anyone to buy this..
if you want in i'd bid at .0001 and be patient.
maybe it will get filled. not sure... some people say they are gettin filled at .0001 others say its impossible.
there are some people that are just gettin there money back at .0001 now because they are impatient or freaked out because some people accuse pearl of being a criminal
i think that it has potential though.
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Pearl Asian Mining Industries, Inc. Comments on Trading Activity of March 21, 2006 Business Wire - March 22, 2006 4:05 PM (EDT)
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PASIG CITY, Philippines, Mar 22, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries, Inc. (OTC: PAIM) announced today in response to over 5,000,000,000 shares trading yesterday, it has not sold any shares into the market, has not issued any toxic instruments, and is not aware of any insider selling into the market.
"With this much volume we are further convinced that our company is the victim of naked shorting," stated its Chairman, E. Pearl Asian. "The only way to discover the truth is to wait for the new rules that require reporting in short positions of stocks quoted in the Pink Sheets, due to be in effect by late this summer. Our shareholders are again encouraged to demand delivery of their preferred dividends on March 31 as a means to prove any past naked shorting of PAIM."
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I think it wiLLLLL fly to .001. It will reach a new 52 week high of .01 after gold is mined. 300 million long. I bought 50 million today.
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The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. However, some professional investors and hedge funds take advantage of loopholes in the rules to sell shares without making any attempt to borrow the stock.
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