Yes, Echo115, sadly this is exactly the case, and you are the only person that seems to be able to recognise this?
I wrote here a short time ago about the supposed $1.3M funding. Heaven know's where it came from and with their atrocious track record of not paying bills, who on Earth would lend them that sort of cash...perhaps nobody FROM Earth! LOL, but I did say in my e-mail to Bob, "now that you have apparently acquired this cash, would you not be obligated to pay off some of your creditors?"
This question was again, skirted around with more about addressing that matter after the Filings were completed but no real direct answer. What FLPC did do was to offer shares to some creditors in lieu of payment. That was about 3 years ago.
Be aware that unless by coincidence, the $1.3M Funding was exactly the same as the bottom line debt on one of the last Filings sheets, so yes, they did hint they are in no rush to complete the Filings. (Quote Bob: "Following weeks and months") It does NOT take Months to do Filings, so that's another Porky. If they copied the last set and added further Debt, that would be fairly accurate!
One other thing: Don't forget the millions of shares they have allotted themselves in lieu of pay, because they weren't (apparently) taking salaries either. What will happen, is that once the share price has been deemed to be sufficiently high, they will cash in all their own shares. Once they start doing that, it may be hard to sell one's holding whilst the share price 'tanks'. Eventually, that will kill the SP stone dead.
What a mess!
