$heff's $tation of $tocks & $olid DD

[rattlewatch]

.0001 FFGO 14.7B shares repurchased ,clearing up some fuzzy math with this lateset buyback press release.Closer to 60B O/S before the buyback.

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Fortress Financial Group, Inc. -- Substantial Stock Repurchases
Monday July 7, 9:35 am ET


Company Confirms That 27.4% of Its Outstanding Shares of Common Stock Have Been Repurchased and Cancelled


NEW YORK, NY--(MARKET WIRE)--Jul 7, 2008 -- Fortress Financial Group, Inc. (Other OTC:FFGO.PK - News) confirms that the Company has repurchased an amount of 14,709,083,248 shares of its Common Stock and cancelled an additional amount of 1,500,00,000 shares of its Common Stock. A total amount of 16,209,083,248 shares of the Company's shares of Common Stock are now being cancelled by the Company's Transfer Agent. This represents a 27.4% reduction in the Company's outstanding shares of Common Stock.
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The total cost to date of this repurchase of the Company's shares of Common Stock is now in the amount of US$204,456,256. This valuation excluded the value of the Company's intangible assets and the Company's stockholdings in St James Capital Holdings, Inc.

The Company's Net Asset Value is valued in the amount of US$617,541,466 as at July 7, 2008. This translates into a Net Asset Value per Share in the amount of 1.44 cents based upon the number of the Company's outstanding shares of Common Stock now being in the amount of 42,941,766,809. The Company has marked down its valuation in respect of its stockholdings in Hunt Gold Corporation to a price of US$0.002 per Hunt Gold Corporation share, for the purposes of this calculation.

The Company's Management notes that the Company has lost hundreds of millions of dollars "on paper" in respect of its stockholdings in Hunt Gold Corporation. It is expected that this will be rectified in the medium term. The Company's Management remains extremely bullish in respect of Hunt Gold Corporation's prospects and upon the value of that Company's Gold Assets.

The Company's Management considers the outstanding number of its shares of Common Stock to be considerably higher than desired and intends to undertake further and more aggressive steps to reduce this number of outstanding shares, in the short term.

The Company is filing a very detailed Form 8-K with the SEC in and during today, in respect of these transactions.

The Company has been formally notified that several unrelated stockholders now hold in excess of 5% of the Company's "free trading" stock based upon the reduced number of outstanding shares. Several parties have informally notified the Company that they have now accumulated significant amounts of the Company's shares of Common Stock.

The Company is awaiting the filing of these various Form 13(g) and Form 13(d) notifications by these third party investors, with the SEC; and upon receipt thereof will be in a position to advise our stockholders as to the exact number of shares in the "free float."



http://biz.yahoo.com/iw/080707/0413339.html