Fortem Resources Inc fka FTMR

[Citrati]

Were these obligations fulfilled, moved forward again? Are the agreements in default?
August of 2020 is long gone now.

https://www.globenewswire.com/en/news-release/2020/05/26/2038720/0/en/Fortem-Resources-Inc-Provides-Corporate-Update.html

Michael Catano was the President and CEO of Strongbow Resources (predecessor to Fortem) and is now COO (Chief Operations Officer) at Fortem. Who screwed up the filings etc to cause this mess with Alberta Securities? Michael has been involved in several public entities that have been messes.
Seems that he is more stock promoter than a competent executive.

[phrocks]

Let's call it reorganization

[RandyKCMO]

Thanks for posting this Renee,

We'll have to see how all this shakes out. BUT if this is what it takes to get us out from under the thumb of the Alberta Securities Commission, it's OK by me.

At this point, I have more questions than answers. I think it's a shame that the ASC has been more of a hindrance than a help to us as shareholders and the company we invested in.

[Citrati]

Wow, that is tomorrow. Guess Bruner is giving up. That suggests that the properties with unpaid agreements will revert back to original owners if some haven't occurred already. No wonder they were delinquent in their reporting. Probably didn't want any stockholders to know.

Even with energy prices and lithium way up there apparently wasn't enough return in these touted and pumped properties for him to put any money in them.

[Renee]

Effective Oct.7,2021 FTMR will change to FTMRQ, bankruptcy.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[Citrati]

YOU MEAN THIS WORTHLESS PR FROM BACK IN THE DAY? Tons of pump and a bigger dump.

[FOODINI]

Oil at $80. And our dynamic Bruner and his lawyers are totally inept.
If they can’t get this done there is more to this then we no.
They have only had four years
What a hoax.

[Citrati]

FTMR is not current. It is Delinquent. That is why you cannot buy it from broker/dealers anymore.
This is from OTCMarkets FTMR page today. Same as yesterday.

The link to their OTCMarkets page. https://www.otcmarkets.com/stock/FTMR/overview

[RandyKCMO]

I'm in agreement and it can't be soon enough.

FWIW, I tested the TD Ameritrade order system and it doesn't allow new buy orders, but it does allow sell orders to be entered. The same is true for Fidelity.

[RandyKCMO]

Add to all this the fact that OTCMarkets.com continues to show current information from the stock transfer agent, American Stock Transfer & Trust Company and VStock Transfer LLC remains open for all to see.

This whole time the Outstanding Shares hasn't significantly changed.

Outstanding Shares 122,571,156 09/28/2021

[RandyKCMO]

Greetings Friends and Fellow IHUBers:

I thought I would combine a couple of my Due Diligence posts and make it a new Sticky note. I think most if not all of my affirmations continue to stand.

I share some of the frustration that many have voiced, but remain convinced that another chapter (or perhaps a sequel) to Fortem Resources has yet to be written.

Updates and information has been hard to come by, but the facts are still the facts. With a bit of research and due diligence, quite a bit of information has been supplied to make sense of the last two years.


Here's my post from February 16, 2021 Post #2487

"I don't think FTMR is a lost cause.

"Someone pointed out the trendline of FTMR's stock price. It's pretty sad and as I mentioned, it's been pretty grueling. Fortunately, graphs only record what has happened in the past and don't really provide a reliable picture of what might happen in the future. I think most of us buy shares because we think they will appreciate in value in the future. If everything had gone well and we had hit the desired milestones, we would certainly not be the 25 cent stock we've become. Who knows what's going to happen in the future?

"I guess I'm a contrarian when it comes to companies like this. I believe Fortem still has a future. Is that a judgment call? Sure. Is that hope unfounded? I don't think so.

"Here's what I see:

"1. Fortem Resources continues to retain control of some pretty expansive and potentially valuable properties.

"2. Billionaire Marc A. Bruner put a number of his own properties into FTMR. A couple of others (Angela Mainardi and Jaime Melo) also put their properties into Fortem Resources. The owners of these properties hold almost 60% of the outstanding shares. Add management and this total rises to 70%. I remember hearing claims that if these properties could be tested and proven they could potentially be worth billions. I don't think the potential value of these properties has changed.

"3. The Cease Trade Order (CTO) was transparently reported and explained. Up until that point, they had been fully reporting and up to date. I remember hearing that uplisting was to the OTCQX and perhaps higher was a possibility.

"A fellow investor said to me as far as he could tell, the company has done nothing wrong. They had fully audited filings and were changing from one accounting firm to another, but the former auditor wouldn't sign off on their work. Yes, THEY WOULDN'T SIGN OFF ON THEIR OWN WORK. Crazy.

"Despite the failure of their former accounting firm, in an effort to get the CTO lifted, FTMR had their new accounting firm review, reaudit, and then refile their prior quarterly and annual filings. They've pretty much done all they can do.

"4. The Alberta Stock Exchange, I suppose in part due to COVID, has not been very helpful. So far as I know, they have not taken any action or made the decision to lift the CTO. I've heard FTMR hired attorneys to try and resolve the matter, but it has been slow going. I believe at some point there has to be some resolution to the matter.

"5 Encouragingly, the Outstanding Shares have not increased significantly in the last 4 years.

"As of July 20, 2020, there were 122,571,156."

"As of October 15, 2019, there were 122,571,156 shares of common stock outstanding."

"As of August 31, 2018 120,771,156 common shares (117,872,458 at February 28, 2018).

"6. From what I can tell, current and past management have not been receiving much for wages but have mostly been working for the future value and eventual success of the company. I think the resignation of the board members and officers of the company was a demonstration to the Alberta Stock Exchange of the negative impact their inaction is having on the company.

"7. And lastly, there have been some surprisingly large bids lately. Over the last month, it's not been unusual to see bids for 50K or even a $100K. However, last Friday there were bids for 701K shares (one for 400K and another for 301K) and today there's been a persistent bid for 350K shares. I'm not sure why, but it makes me wonder.
(FWIW, I placed a bid at 25 cents and caught some shares.)"



Here's a subsequent post I made June 24, 2021: Post # 2487

"I’m still in fundamental agreement with what I wrote in my previous post (sticky post #2487). I had thought by now we would have been given some indication of how things are going. Although I understand that they don’t want to be making changes and thus become a moving target in the eyes of the Alberta Stock Exchange CTO removal.

"As for additional reasons to be optimistic about Fortem Resources, here are a couple more points:

"8. The price of crude oil has recently been rebounding to the $60 range, with some projecting that we could see $80 or even $100 per barrel.

"That being the case, privately held oil and gas properties will be increasing valuable and sought.

"9. As I have looked over the fillings, the essence of the accounting disagreement is how the acquired properties be valued and carried on the books of the company.

"1) At the value represented by both the issued stock and the cash portion.

"OR

"2) At the value of just the cash portion paid for the properties (and thus not the value of the tens of millions of shares issued to acquire the properties).

"It seems almost ridiculous to me to think that anyone world sell with their properties for less than a value that would fairly represent the properties value. The underlying value of the shares have to be taken into account when valuing the purchase price, as well as the book value those properties continue to have as asset value on the books of the company.

"With other investors I’m looking forward to the company putting this behind them. Will it be weeks or months? Who knows. Time will tell."

[Highflier69]

It will comeback to life. The issue is when and what things have they been doing since. That said, I've heard a lot about the stock...

[Citrati]

That is difficult to answer. IMO, it depends on ones situation, needs, goals etc and is therefore individualistic.
Mr. Optimistic is now 2months silent here and the company is well over a year silent. Pretty much seems like trying to pick one number to win on a roulette wheel to me.

That said I forgot about a stock that was between .001-.004. Then last in July last year I saw that it was at .01 and it raced to .182. Then it dropped to .01 this year and now is .07. It is why they call these stinkie pinkies.

Wish you the best. So far FTMR is one of the worst pump and dumps I have come across.

[lizard lips]

So is this baby done and over with? Time to write it off as a loss…???

[Citrati]

As of today from OTCMarkets FTMR is delinquent.

[Citrati]

If FTMR doesn't get the stop sign at OTCMarkets removed by tomorrow end of day with full disclosure, brokers will no longer be allowed to post a quote and it cannot be purchased.

Not a good look for management. Looks like the end result of months and months of company silence will be wallpaper for anyone holding stock.

All IMO only. Do your own dd.

[FOODINI]

Tick tock,tick tock,tick tock..........
Time is running out.
September the audit was supposed to be done.
What's the next BS story.
Put a fork in it. It's done.
Oh wait "I'll call Mike and be back to you tonight.
'THE BIG LIE"

[Citrati]

Going to be really tough. Here is how it is currently listed at OTCmarkets. It now falls under SEC rule 15c2-11
You will have to check with your broker on how to sell it.

[lizard lips]

Is it time to just take the loss and move on….?

[Citrati]

FTMR still listed on OTCmarkets as pink no information and sec filings delinquent.
Now comes under the new SEC rule.

"In September 2020, the SEC updated Exchange Act Rule 15c2-11 which become effective on September 28, 2021. These regulatory changes prohibit broker-dealers from displaying quotes for securities whose issuer has not met public reporting requirements."

[Citrati]

No worries on my part. I get it. When one gets lied to and screwed multiple times, as many of us here have, it tends to elevate ones emotions to hear the same rhetoric of positivity spouted.

The all is well and gonna be fine posts irritate me to no end. I probably should just let it go, but years of hearing that stuff on 3+ stocks affiliated with certain executives keeps me a bit unhinged.

Apologies on my part for not being more clear.

Wish you and all the accumulated deceived bag holders the best financial recovery possible.

[FOODINI]

That should read “shooter”.

[FOODINI]

My apologies to you. I did misunderstand the wording.
You have always been a straight shooo.
Disregard my don’t respond.
Once again sorry for the error.

[Citrati]

No problem I won't post to you again. I will respect that request.
I was simply saying your post was in fact true. Sorry if it was too round about to understand that I 100% agree with you.

I have no stock here and was already "HAD" by this stock as well as TN..F and H..C.
I don't want anyone else losing their money here either. Only reason I post here from time to time.

Wish you the best in any future investment of any kind.

[FOODINI]

The problem here is “You can’t handle the truth “
Wake up you have been “had”.
Enough said!
Please don’t respond.

[Citrati]

Respectfully or not, there is no evidence in years that your position and statements are anything but true.

Price is downanother .0597 to .19. A confidence building chart.? Not this 5 year weekly.
Price is back to the pump onslaught of 5 years ago.

[FOODINI]

Why don’t you ask “The Scammer” who put you into this? The stock answer is “ I’m talking to Mike tonight and if there is anything new I’ll call you. They are doing another audit. How many is that. All he does is buy time.
I’ve tried to talk to Mike and he doesn’t answer. And that’s his cell phone. There is no identification when it answers. And no return call.
Have you heard…
Next week, he is meeting with the accountants two more weeks.
Always buying time.
THERE IS NO MORE TIME.
They have lost people millions.
Every deal they have pushed has FAILED.
Do you real buy the BS that September it will happen.
They literally are a group of incompetents.
Respectfully,
The voice of “TRUTH”

[lizard lips]

How does it take this long to refile?!?! I highly doubt this is the only issue and fear this is DEAD!!

[Highflier69]

9-years here... Heard a couple people thinking things are going well with the business, but supposedly management doesn't want to talk about it until they get back on the exchange. That was a few months ago and they are still not on the exchange. I'm in another Bruner deal and another with Centano. Both not on any exchange and equally with no insights. I'm not putting another dime in, but won't go anywhere either. I doubled down at an extremely lower rate in H3NC and I'm still under water there with it now being a Cannabis stock... All with a group of people that seem to be in here and there and in the same bad shape.

Signed - Sitting and waiting...

[yaya88888888888]

I believe all will be on the right track by the end of sept.

[yaya88888888888]

Its been a long haul and I never sold a share getting ready to start buying. they will get the job done soon........

[phrocks]

I'm holding, can't do anything else but hold, even if they become current after the OTC date.

[FOODINI]

I’d like to hear from some of the long term bag holders if you believe FTMR
will survive.
Why can’t we hear from Mike Centano or Marc Bruner?
Hard to believe they can’t get it back on an exchange.

[Highflier69]

On September 28, 2021, new regulations will affect your ability to buy and sell “Pink No Information,” “Grey Market,” and “Expert Market” Over-the-Counter (OTC) securities, including at E*TRADE.

After Friday, August 27, 2021, E*TRADE customers will no longer be able to buy Impacted OTC Securities through E*TRADE.

[lizard lips]

What is so special about September…other than that’s when SEC says this is dead? Relisting in September?

[yaya88888888888]

September

[phrocks]

I'm with you, still holding and hoping

[lizard lips]

Glad to see a few of you are still out there. I’m in the hole well into the 5 fugues on this one. Thankfully everything else is up well above my Fortem holdings. Just hate losing and wish I knew “anything”
about this company’s future, other than impending complete delisting. So tired of hearing a relisting is coming on the Toronto exchange….yet nothing, month after month after month….

[RandyKCMO]

LL. I just posted a reply.

[Citrati]

Glad you were able to execute such a plan. Most others didn't do that.
My remaining shares are free and like you all the principal and profits are working elsewhere. I have no idea what FTMR will do. The current status is not even hopeful. I will let the freebies ride, but in good conscience couldn't recommend this to anyone based on the total lack of liquidity and the now years of company silence. It is very likely this will cease to be a quoted stock by MM's after September 28 when the SEC deadline for filings to be current goes into effect.
(the date is close, but from memory, as too lazy to look it up again)

[RandyKCMO]

We’ll, I guess the proof will be in the pudding. Since just before the name change from Strongbow to Fortem Resources I’ve been a shareholder. For a while my position was worth half Million.

As the stock traded up to $3.99 I had done some staggered sell orders at 25 cent increments. Like everyone who held through the initial rise and subsequent decline, I wish I had sold more at higher prices.

There was a point where I consolidated my holdings into what I thought was a pretty sure thing. At that point I owned relatively few shares of FTMR compared to what I had and now do.

Thankfully, my consolidation plan worked well and I was able to re-diversify my holdings.

All to say I think FTMR shareholders will eventually be abundantly rewarded.

Could I be wrong? Sure. We’ll find out eventually.

[Citrati]

I am holding a relatively "few" leftover shares after selling my large position long ago. I like to keep a few stinkie pinkie shares because one never knows. One penny stock that had been in my drawer for 10 years burst into life last year for a 20 bagger. Not optimistic at this point but maybe FTMR will yield a similar surprise. LOL, I could probably wallpaper a room with ones that haven't come back.

Wish you and any others sitting in the wasteland a green recovery.

[lizard lips]

I was wondering if anyone was still out there…happy to see I’m not alone. I’m still holding this POS, and holding on to “hope”. But I’m not optimistic and fear this is as dead as a door nail.

[Citrati]

Apparently life support is still in effect. 40share trade today at .30 really increases ones confidence factor.

[lizard lips]

So is this chat board now as dead as Fortem?

[lizard lips]

Broker sent me a notice that I will not be able to trade this POS soon due to new SEC regulations….ie they need to file proper documents. Why is this so hard for Mgmt?!

[lizard lips]

Volume is absolutely dismal….??

[Highflier69]

I tend to agree with you Randy. But it's been 9 years for me now. I heard from a guy, who heard from a guy that things may be getting better here. But I think that was a month and a half ago and are now sub $0.40. I'm not leaving but this is crazy... Patiently waiting... I seemingly now have some Pot stock too and in the same spot.

[RandyKCMO]

I’m still in fundamental agreement with what I wrote in my previous post (sticky post #2487). I had thought by now we would have been given some indication of how things are going. Although I understand that they don’t want to be making changes and thus become a moving target in the eyes of the Alberta Stock Exchange CTO removal.

As for additional reasons to be optimistic about Fortem Resources, here are a couple more points:

8. The price of crude oil has recently been rebounding to the $60 range, with some projecting that we could see $80 or even $100 per barrel.

That being the case, privately held oil and gas properties will be increasing valuable and sought.

9. As I have looked over the fillings, the essence of the accounting disagreement is how the acquired properties be valued and carried on the books of the company.

1) At the value represented by both the issued stock and the cash portion.

OR

2) At the value of just the cash portion paid for the properties (and thus not the value of the tens of millions of shares issued to acquire the properties).

It seems almost ridiculous to me to think that anyone world sell with their properties for less than a value that would fairly represent the properties value. The underlying value of the shares have to be taken into account when valuing the purchase price, as well as the book value those properties continue to have as asset value on the books of the company.

With other investors I’m looking forward to the company putting this behind them. Will it be weeks or months? Who knows. Time will tell.

[lizard lips]

Well that was helpful…NOT!