In today's filings the wording and dates have me a little confused. Is this a R/M into POTG or did POTG actually buy into the company?
On May 18, 2015 Portage acquired the controlling interest of FG Fitness & Media Group. As part of this
agreement Portage acquired over 70% of the ownership of FG Fitness and included in the transaction FG’s
management obtained board seats in Portage Resources, Inc. In January 2011, Fire Mountain Beverage
Company formed FG Fitness & Media Group as a wholly owned subsidiary of the Company. FG Fitness &
Media Group, Inc is a multi-faceted company that has Fitness and Media at its core. Management believes
that its business has multiple revenue sources (at least 12 sources for example: a fitness directory,
supplements, apparel, magazines, calendars, online training, media, advertising and promotional products,
events and more) that will prove beneficial to sustaining the firm’s growth strategies. The Company’s
business model was designed to provide sufficient expansion opportunities in emerging markets, and it will
be able to capitalize on business opportunities that will prove beneficial to prolong financial growth. As a
result of the success of this subsidiary management decided to change the name of the Parent Co, (that was
initially formed in 1947) to FG Fitness & Media Company. Sandra Thomas stepped down as the Company’s
VP of Operations and Director and became a consultant to the firm and Anthony Miller stepped down as
CEO/President and became the Chairman and Jason Miller was appointed as CEO/President this all occurred
on or before June 30, 2011.
And nowhere in the filings does Belfiore show as an officer.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
