By Catherine Austin Fitts

In June, I withdrew my recommendation of GoldMoney as an option for storing precious metals, as did Franklin Sanders of The Moneychanger. My reasons were a change of control as well as general changes in the market that underscore the advantages of having personal control of core positions.

GoldMoney’s holding company is now publicly traded. Their stock has come under significant selling pressure in September. Here is their chart:

(click to view a larger version)

GoldMoney’s First Quarter Results ending June 30 as reported at the end of August were as follows:

First Quarter Financials:

• gold sales and transaction revenue of $2,856,937
• total gross revenue gain of $13,396
• net loss from operations of $2,867,928
• total comprehensive loss of $2,842,969
• estimated adjusted loss of $1,535,410 after netting out non-cash share payments, one-time public listing expenses and non-recurring professional fees associated with regulatory licensing and strategic due diligence
  basic and diluted loss per share of $0.08
• total cash and cash equivalents, gold inventory, short-term investments and short-term marketable securities held for sale of $28,204,924 (excluding cash and bullion acquired as part of the GoldMoney transaction and reflecting only partial exercise of outstanding in-the-money warrants)

Related Reading:

• Shares of Bitgold (GoldMoney) Drop 31%
• What Percentage of My Assets Should I Hold In Precious Metals?