Sunday, November 15, 2015

Global Gold's Subsidiary and Tukhmanuk Gold Mine, Threatened With Bankruptcy

Global Gold Corp's (otcqb:GBGD) subsidiary in Armenia, Mego-Gold, is being sued in a "forced bankruptcy" hearing.

Court Case YEKD / 0286/04/15, was filed on September 18, 2015 by an applicant named Araqsya Bozhevolnova.  The electronic court document, produced below does not give any further details.
A google translation of the above document reads:
COURT N: YEKD / 0286/04/15
The application has been received. 18-09-2015
Bankruptcy type: forced
The applicantName: Araqsya
Surname: Bozhevolnova
The DebtorFirst Name: Mego Gold LLC
Address: Tumanyan 1 A-2
State fee. 0
Other notes: Statistics line number.
The JudgeCourt: Kentron and Nork-Marash
The judge's name. Alexei
The inscription date. 18-09-2015

This is not the only case pending against MEGO-GOLD. The Administration of the Village of MELIQ has filed a lawsuit to recover certain fees and has a court order to seize GBGD/MEGO-GOLD assets pending the trial.

In US Securities Exchange filings, GBGD declares that it has debts of $15,955,705 and no income.

GBGD has not filed any 8-K to disclose these material events but ignores the rules and regulations to timely file and instead files a 10-Q to bury these material events.

About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

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