Global Gold Corp (GBGD): Extortion and Fraud In Armenia

Global Gold Corp ( PINK:GBGD ) is  $20,917,023 in debt , so what does Mr. Van Krikorian , the President, CEO and Director of the Company do? He conspires with his fellow directors and officers of the company to reclassify $6,463,255 of that debt, which is owed to them, as secured promissory notes, to the detriment of its other creditors and secured creditors. Van Krikorian announced on November 1, 2017, in the company's June 30, 2017, 10-Q report , that these secured promissory notes were issued on July 1, 2017, and interest and principal were due on September 1, 2017. What was the security granted to Mssrs Van Krikorian , Drury Gallagher , Ian Hague , Lester Ceasar and Jan Dulman ? Everything . And now these newly issued secured promissory notes are in DEFAULT. These officers and directors have been involved with the Company almost from the beginning where the stock climbed to a high of $3.80 in May 2006 and now rests on its deathbed...

Visit my new website on Fraud at Toukhmanuk and the Armenian GKZ GBGD Fraud @ Toukhamuk Gold Project Republic of Armenia  http://www.toukhmanuk-gbgd-fraud.com

Global Gold Corp (GBGD) shares have finally been re-listed on the OTCQB from the PINK sheets. GBGD shares were dropped because it failed to timely file their year-end and quarterly financial statements. Now that the F/S are filed, here are some highlights for GBGD: The company has $54,164 in cash and $20,350,985 in debts Its Armenian subsidiary (Mego Gold LLC) that owns their Toukhmanuk Gold Mine has been declared bankrupt by Armenia's Cassation Court JV partner Linne Minning at Toukhmanuk, has filed a creditor claim of $30,000,000 in the bankruptcy of Mego Gold They need $5,000,000 to fund their Marjan Project in southern Armenia What can one say about a company run by Mr. Van Z. Krikorian , President, CEO, Director and  Lawyer, and Mr. Ian Hague , Director and Principal of hedge fund Firebird LLC (www.fbird.com)? Mr. Ian Hague had made director loans to Global Gold which amounted to $5,052,262, including interest. In order to clean up the books...

As of TODAY, May 17, 2017, Global Gold Corp's shares have been demoted to the PINK SHEETS, labeled as "SEC Reporting Delinquent", "STOP OTC Pink no Information" and with a public Warning! This company may not be making information publicly available. According to the OTC Markets website, the STOP warning means: No Information Indicates companies do not provide disclosure. Publicly traded companies that do not provide information to investors should be carefully researched before making any investment decision.

I received a call today from my contact in Armenia confirming that this is actually the case. Not only that a declaration of bankruptcy was issued in  April  against all GBGD subsidiaries, but that a court appointed liquidator has been named too. It is a holiday on Monday in Armenia and I expect to get actual court case numbers and other information by mid week. Nevertheless, in typical Van Krikorian fashion The only reference to this potential bankruptcy was announced in the 10-K, which was filed on May 2, 2016.  No mention of the actual bankruptcy in subsequent events, and no mention of bankruptcy claims ever filed against GBGD's subsidiaries in Armenia, ever. Mr. Krikorian discloses the following in the last 10-K: https://www.sec.gov/Archives/ edgar/data/319671/ 000143774916030518/ gbgd20151231_10k.htm Page 37 " General The Company is subject to various legal proceedings and claims that arise in the ordinary course of business or which constitute nuis...

On July 5, 2013,  GBGD  and Mr.  Van Krikorian  (President and CEO) signed a deal with Linne Mining to act as the CONTRACT MINER for the development of its  Toukhmanuk  Gold Mine, in Armenia. By November 2015, Van Krikorian announced in its SEC quarterly filings ( 10-Q ), that the Toukhmanuk project was delayed because the contract miner "requested" to be relieved of its obligations under the mining  contract   agreement. To this date,  Van Krikorian  has failed to post a copy of Linne Mining's letter or provide any clarification to investors, why Linne Mining requested to be "relieved" of it obligations.  Three months later, the reason for Linne Mining's actions have started to become crystal clear. Linne has been swindled by Van Krikorian and GBGD. There is no gold worth mining at the Toukhmanuk Gold Mine. Here is the proof. Two documents, which were prepared for Linne Mining, surfaced on the web last week. These t...

On March 31, 2015, the Human Rights Defender of Armenia, Ombudsman Karen Andreasyan , published his Annual Report examining the activities of 25 Armenian government agencies and compiled 167 systemic problems which have violated the human rights of thousands of people in Armenia. Pages 173-175 of the Ombudsman's Annual Report deals with the Human Rights abuses against the residents of Meliq Village where   Mego-Gold LLC   (a subsidiary of Global Gold Corp) has been trying for 4 years to get its third tailings dam approved for its Toukhmanuk Gold Mine. (see  http://extortion-in-armenia.blogspot.ca/2014/10/local-villagers-at-meliq-oppose-gbgds.html ) The chief provocateur of the Meliq Community is none other than Mr. Van Z. Krikorian , the President, CEO, Chairman, Director and Legal Counsel of Global Gold Corp, a penny stock listed on the otcmarkets (otcqb:GBGD), that controls the Toukhmanuk Gold Mine. Surprisingly, Mr. Van Z. Krikorian is also the co-ch...