Weird how the APS group delays their last pick of the year the same day that one of their potential penny stocks, Discovery Gold Corp. (DCGD) gets ready. Knowing they did a biotech with Pristine Solutions (PRTN) followed by a tech with TagLikeMe (TAGG), the likelihood of them going for a mineral exploration deal like the one they began the year with, North Springs Resources (NSRS), seems pretty obvious. Since NSRS rallied toward the end of its run off of mining claims for the Edum Banso Gold Project they got from Discovery, now that DCGD stock is DTC eligible it should be on everyone’s watch list immediately as a possible candidate.
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DCGD Stock Chart
Market Cap: 14.18M
Close: 0.28, up 0.03 (12.00%)
Average Trade Size: 3,293
Issued and Outstanding: 50,631,611
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On our initial coverage of Discovery Gold back on August 15th (see here), we pretty much uncovered all the connections between Harry Lappa’s NSRS and Steven Flechner’s DCGD. Is it coincidental that APS delays their pick while Discovery sorts out all the old loans and converts them into restricted shares while awaiting DTC eligibility?
At the end of September, Discovery Gold entered into a Loan Conversion Agreement with Steven Ross, the sibling of Mr. Donald Ross from whom the Company borrowed an aggregate of $210,484 from on or about April 23, 2010 through September 25, 2012. The deal converts the Steven Ross Loans, plus the accrued interest of $17,376, into an aggregate of 1,515,266 restricted shares of DCGD stock.
Additional loans were issued by Donald Ross, one in the form of a 10% unsecured convertible promissory note in the amount of $100,000 and another loan for an aggregate of $25,000. The principal and accrued interest for each were respectively converted into 1,109,041 and 285,222 restricted shares of DCGD stock.
Beyond those conversions, the Company, on October 3, 2012, issued LiveCall Investor Relations, a company that provides investor relations services to Discovery Gold Corp., entered into a fee conversion agreement whereby the parties agreed to convert the outstanding fees owed to LiveCall in the amount of $15,000 into 115,733 restricted shares of DCGD stock. Discovery also agreed with CMB Investments, Ltd., whose sole shareholder, director and officer is Mr. Ralph Shearing, a director and consultant of Discovery Gold, to convert the outstanding consulting fees owed to CMB in the amount of $10,500 into 79,487 restricted shares of DCGD stock.
On the same day, Shelley Guidarelli, a former director and officer of the Company, was issued 16,000 restricted shares of DCGD stock to convert the outstanding fees owed to her.
So after 3,120,749 restricted shares of DCGD stock were issued to wipe off old loans and fees, DTC eligibility is successfully attained, and still no Awesome Penny Stocks pick having been issued — I dunno about you but Discovery Gold Corp is up their at the top of my list to replace TAGG and PRTN. The one risk: its already been trading.
About DCGD Stock
Discovery Gold Corp. claims to be an emerging U.S. based mineral exploration company with a 100% owned Ghanaian subsidiary company, Discovery Gold Ghana Limited which, subject to final Ghanaian government approval, owns a 70% beneficial interest in an option to acquire the exclusive rights to explore the Edum Banso gold project within the historic and prolific Ashanti Gold Belt located in the country of Ghana in West Africa.
Click here to view the SEC filings for DCGD.
Bottom Line: DCGD should be n the list of potential penny stock picks to play for the last and final Awesome Penny Stocks pick of this year. Beginning with their best percentage gainer, NSRS and closing out the year with a direct connection to it in DCGD stock couldn’t be a better set up.
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