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All That Glitters Is Not Greenwood Gold (GGRI)

June 30, 2011:  So after three days of relentless promotional emails pumping Greenwood Gold Resources (GGRI), we decided to take a look at what we've got here.  Two of us are sitting in front of a single computer as my partner clicks on the company website's Management tab.  I swear to you we both said "Holy S**t" at the same time.

How else do you respond when you see that the company has named one of the most unscrupulous Pump & Dump lawyers in the country as their corporate counsel?  We wasted no time.  We didn't even look at anything else before we immediately sent out an alert to our subscribers, informing them that an advisory on GGRI was forthcoming.  What was it going to say?  We didn't know.  But as soon as we saw Diane Dalmy's name, we knew it was going to be juicy.

Ms. Dalmy has a developed quite a reputation for aiding and abetting public companies which have been subjects of Pump & Dumps and the dubious promoters that enable them.  Amongst her "partners in crime" is Vancouver lawyer and SEC target, John Briner who has been banned from the OTC markets for stock manipulation.  Mr. Briner is famous for arranging the sale of Pink Sheet and Bulletin Board shells to people of questionable character and has worked for several years with Ms. Dalmy  Together and apart, the pair has been involved in dozens of schemes on the Vancouver market as well as the Pink Sheets and OTC Bulletin Board, writing many a dubious legal opinion resulting in millions of dollars lost by thousands of investors.  Several of their clients have been charged by the SEC for securities fraud, as has Mr. Briner.  Ms. Dalmy has managed to be slippery enough to avoid charges-- so far.

However, it would not be accurate to say that Ms. Dalmy has escaped notice by the regulators.  She has written so many questionable opinion letters that Pink Sheets, the most questionable market in the world, has refused to accept any more legally related letters from her whatsoever, placing her on the Prohibited Attorneys List.
"In general, we expect attorneys who provide us with letters to know securities laws, do the work required, and be ethical," Pink Sheets chairman Cromwell Couslon", told the Vancouver Sun, which quoted him in a February 17, 2010 article dedicated to Ms. Dalmy"We ban them when it becomes apparent they are stupid, lazy or dishonest."

Ms. Dalmy has been identified as legal counsel of several companies well recognized for their Pump & Dump schemes, many of which have been halted by the SEC.  Most recently she was involved with scam, 5Barz International (BARZ), for which notorious promoter Tim Fields was retained to Pump the stock.  Mr. Fields called for 1060% gains by July 4 of this year.  The stock has been cut in half since Mr. Fields lofty call in April, but not before lining the pockets of insiders with millions of dollars extracted from unsuspecting dupes.

Dalmy has also been associated with well known promoter and another SEC target, Brent Pierce, who has run dozens of scams out of his Vancouver office.

Ms. Dalmy's next representation of a legitimate company will indeed be her first.  We wonder why GGRI would name such an attorney as Legal Counsel.  Of course the question is rhetorical.  We know the answer.

Now about the Summer Mining Property in the Quesnel Trough.  It's worthless.  Not the entire region, just GGRI's Summer Property.  Worthless.  Yup, we said it.  How do we know?  Easy when you use deductive reasoning.
  1. Candorado, who sold the rights of the property to GGRI, initially announced the acquisition of the property in a January 29, 2007 press release.  Under the agreement, Candorado paid $8,000 for a 100% interest in the property.  Deduced:  The property was cheap because there was no reason to believe that there was any minerals on it.
  2. Candorado at various times, raised funds, through private placements of stock, to be used in the exploration of the property.  The raising of these funds was reported in press releases dated February 7, 2007, February 16, 2007 and several other press releases.  Deduced: Money was raised to explore the property.
  3. Candorado, in a press release dated December 2, 2010, confirms that the Summer property is being actively explored.    Press releases dated January 21, 2011, and February 7, 2011 also confirm the exploration.  Deduced: The Summer Property was explored.
  4. Within its audited Financial statements for the year ending December 31, 2010, Candorado does not list the Summer property as an asset.  Deduced:  The property has no value.
  5. On June 27, 2011, GGRI announces the purchase of the Summer Property from Candorado.  Candorado makes no such announcement to its shareholders.  Deduced:  The sale of the Summer property is insignificant to Candorado.
And now the most disturbing revelation.  On June 26, 2010 the day before the sale of the Summer property to GGRI, Candorado, who owns several properties that it considers to be of more value than the Summer property, had a total market cap of about $2.5 million.  At the close on Wednesday, GGRI had a market cap of about $30 million with no cash in the bank and the Summer property as its only asset.

So why was this worthless property moved to a US Bulletin Board company?  Because in Canada you cannot Pump & Dump.  This is why the "asset" was moved to GGRI.  This is why Attorney to the Scammers, Diane Dalmy, is involved.  Only to steal your money.

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