USCA News (looks like old news)

[swampdog]

This just released, looks like a rehash on the old filings. But at least they are catching up on their old filings. Something they should have been doing all along.
Swamp


U.S. Canadian Minerals, Inc.'s New Management Team Announces Filing of March 31, 2005 and June 30, 2005 10-QSBs


Last Update: 3:53 PM ET Mar 13, 2007


LAS VEGAS, NV, Mar 13, 2007 (MARKET WIRE via COMTEX) -- U.S. Canadian Minerals, Inc. (USCA : u s cdn minerals inc com new
News , chart , profile , more
Last: 0.04-0.01-20.00%

4:02pm 03/13/2007

USCA0.04, -0.01, -20.0%) announced today the filing of the June 30, 2005 10-QSB. Last week the Company filed the March 31, 2005 10-QSB.
This filing reaffirms management's commitment to the aggressive time line previously set for achieving SEC reporting compliance and reinstatement onto the OTC-BB. Simultaneously, USCA continues to seek financing to initiate production in the range of 1,500 to 4,000 cubic meters per day on the Company's recently announced option on 1,200 Hectares of Chilean gold claims. These claims, covering some 5 km of paleo channel, are graded at above 2 grams gold per cubic meter and, once financed, the Company expects to be in production within 90-120 days.
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of the Company are qualified. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact: U.S. Canadian Minerals, Inc. Tormi Jõgeda Investor Support Services 702.357.USCA (8722) www.uscanadianminerals.com
SOURCE: U.S. Canadian Minerals, Inc.
www.uscanadianminerals.com Copyright 2007 Market Wire, All rights reserved.

[Twist Capper]

I thought so too........but it is actually a statement saying 2nd
Quarter was filed..........

One quarter at a time...............................................



Thanks swamp!

[urbanswarrior]

Now this gives me the warm and fuzzies!!!...NOT

WRITE-DOWN OF PROPERTY ASSETS - MINERAL RIGHTS AND INVESTMENT ASSETS

During 2004, the Company determined that the values of many of its properties were substantially or materially less than the value that was originally recorded. These include the claims in Smeaton, Fort a La Corne, Saskatchewan, Canada, investments in mineral rights in Saskatchewan purchase from CMKM Diamonds, Inc., investments in Nevada Magnetics and 5616 hectares of mining property in Ecuador.

The Company recorded a reduction in the purchase price of 100% of the originally recorded cost of its investment assets of CMKM Diamonds, Inc. On July 12, 2005, the U.S. SEC issued an order revoking the registration of each class of securities of CMKM. Although the Company believes it may have a remaining claim to some of the assets of CMKM, if any, the Company has insufficient information in which to base a recording of any asset relative to this claim.

Looks bad folks...Lets see how long it takes to spin this into something
positive

[ujellis]

This looks REALLY BAD FOR US. If somebody can explain how this is good for us PLEASE DO....

urbanswarrior said:

Now this gives me the warm and fuzzies!!!...NOT

WRITE-DOWN OF PROPERTY ASSETS - MINERAL RIGHTS AND INVESTMENT ASSETS

During 2004, the Company determined that the values of many of its properties were substantially or materially less than the value that was originally recorded. These include the claims in Smeaton, Fort a La Corne, Saskatchewan, Canada, investments in mineral rights in Saskatchewan purchase from CMKM Diamonds, Inc., investments in Nevada Magnetics and 5616 hectares of mining property in Ecuador.

The Company recorded a reduction in the purchase price of 100% of the originally recorded cost of its investment assets of CMKM Diamonds, Inc. On July 12, 2005, the U.S. SEC issued an order revoking the registration of each class of securities of CMKM. Although the Company believes it may have a remaining claim to some of the assets of CMKM, if any, the Company has insufficient information in which to base a recording of any asset relative to this claim.

Looks bad folks...Lets see how long it takes to spin this into something
positive

[tonyjm]

The only good spin I can come up with is that USCA might be one of those against whom the interplead is intended. This might simply be one reason that the interplead has not been filed, that is to say, there may be several entities who have had that "JV" designation that CMKX does not want in an Enterauge (sp?) distribution. But, I have to admit that, on the surface, I don't get the warm and fuzzies either. Who knows? Maybe in the long run it will be a good thing. We'll see.
Tony

[tonyjm]

To add to the above post. It could be that CMKX is trying to get any claimants to withdraw their claims so that ultimately, the interpleader will not have to be filed. It sort of gives us at least one reason for "the big meetings" that we've heard about. It is interesting, isn't it, that USCA would make this kind of announcement in the time frame of these meetings?
Tony

[TexasPride]

The Company recorded a reduction in the purchase price of 100% of the originally recorded cost of its investment assets of CMKM Diamonds, Inc.

If what they're trying to say is ~ each share of CMKX that was purchased by their company has lost 100% of its value, I'd say that's pretty common when a stock is revoked and no longer has any "recorded" value.

After all, each of us "technically" lost 100% of the face value of our shares, when the company asked that the stock be revoked.

IMO ~ They could have worded this differently, or to be more accurate, they could have written it in english, rather than legal ease.

~ JMO ~

[Twist Capper]

admin said:

After all, each of us "technically" lost 100% of the face value of our shares, when the company asked that the stock be revoked.

IMO ~ They could have worded this differently, or to be more accurate, they could have written it in english, rather than legal ease.

~ JMO ~

Thanks Texas.......sometimes a cigar IS just a cigar...........


TC