Investors Take a Gamble with GoldLand Holdings Co (OTCMKTS:GHDC)

If you want to invest in GoldLand Holdings Co (OTCMKTS:GHDC), you have to trust your money with Paul Parliament (the company’s CEO) and his ability to carry out the diverse business plan. Let’s see if he has what it takes.

He has some experience with public companies. He has been a Chairman of the Board at Silver Falcon Mining, Inc. (OTCMKTS:SFMI) for the past few years and he has worked there alongside a person called Pierre Quilliam (SFMI‘s CEO). Apparently, Mr. Parliament and Mr. Quilliam don’t get along any more.

Mr. Quilliam was also at the helm of GHDC, but in April, Mr. Parliament, along with the rest of the current management team, terminated him. According to the people currently running the company Mr. Quilliam hasn’t always worked in the shareholders’ best interest. He is even accused of taking some financial records with him and refusing to hand them over to his successors.

As a result, the new management team says, GHDC is unable to stay current with its reporting obligations. The latest financial statement covers the third quarter of last year and the figures in it look like this:

• cash: $163
• current assets: $396,423
• current liabilities: $262,385
• quarterly revenues: $29,070
• quarterly net loss: $258,541

The financials are both old and quite ugly. At more than 88%, the year-over-year revenue drop alone could be enough to put you off.

It must be said, however, that Mr. Parliament made more than a few optimistic announcements over the last few months. He seems confident that he can turn GHDC‘s fortunes around.

Then again, he was quite positive about SFMI when he took his seat on the Board, but yesterday’s close of $0.0002 per share and the lack of current financial reports clearly show that things are not working out. Speaking of which, Mr. Parliament and his colleagues promised in May that despite their inability to obtain the official financial records, they will file an unaudited 10-K for last year. Three months later, they still haven’t done it.

All in all, based on these facts, GHDC doesn’t look like the most appealing investment opportunity out there which means that the promoters from Stellar Media Group LLC (the owner of Damn Good Penny Picks) and Elijah Brockman were faced with a tricky task when some third parties paid $30 thousand and asked for an awareness campaign. The pumpers decided to go around the massive red flags by simply ignoring them.

The strategy didn’t quite work out. Indeed, GHDC did generate around $150 thousand in dollar volume yesterday, but the price only went up by about 3% and it closed the day at a hair under $0.03.

The failure to make any significant jump in the right direction could be due to the big red flags surrounding the company, but it could also be caused by someone taking advantage of the pump and unleashing a rather big number of shares on the open market.

We don’t know who that someone might be, but we do know that during Q3 of last year, GHDC issued more than 21 million shares in order to pay for $42 thousand worth of services.