Attorneys Fees & Expenses $5,063,647.31

as of 12/8/2020

Nice. For the attorneys. Not so much, for the Shareholders/Victims

https://www2.slideshare.net/malp2009/fees-attorneys-fpfgbk

The Death Notice - Hearing 12/15/2020

Merry Christmas, Happy New Year! They get everything and we get nothing.

https://www2.slideshare.net/malp2009/doc1107-notice-of-hearing-2020-1215

Done! Finished! As of 12/31/20 NOTHING!!

But, Matthew D. Orwig gets a big check $323,144. We get nothing!

And, Youth180 gets $44,226. We get nothing.

Terry Allen, a creditor and party in interest in the case, seeks to buy whatever assets may remain from the Trustee for $6,000. the Trustee respectfully requests that the Court (a) authorizing the sale of the remaining assets to Mr. Allen.

Who is Terry Allen?

The Trustee is only aware of one potential source of funds that could
come into the estate. A restitution order entered by the United States District Court for the District of New Jersey in a related criminal proceeding calls for $14,000,000 in restitution to be paid.

So it appears that Matthew is giving up on all of the items that the government is holding, cars, boat, plane money, rings, etc. That Terry could make out like a bandit.

A sad ending. Matthew could have gone better. Once again, the attorneys get more than we do.

https://www2.slideshare.net/malp2009/doc1105-motion-for-approval-of-disposal-of-residual-assets-final-accounting-and-final-decreee

Final Order of Forfeiture $12,000,000, Nicodemo Scarfo Jr, September 6, 2016

Over 4 years later, nothing, where are the Trustees, Matthew Orwig, Doug Skierski, all of those attorneys that took our monies, where is the DOJ?

https://www2.slideshare.net/malp2009/1372-final-order-forfeiture-12000000nicodemo-scarfo

Final Order of Forfeiture $12,000,000, Salvatore Pelullo, September 6, 2016

Over 4 years later, how about some money?

https://www2.slideshare.net/malp2009/1373-final-order-forfeiture-12000000salvatore-pelullo

Final Order of Forfeiture $12,000,000, John Maxwell, September 6, 2016

Over 4 years later, where's the beef

https://www2.slideshare.net/malp2009/1374-final-order-forfeiture-12000000john-maxwell

Final Order of Forfeiture $12,000,000, William Maxwell, September 6, 2016

Over 4 years later and not 1 dime

https://www2.slideshare.net/malp2009/1375-final-order-forfeiture-12000000william-maxwell

Final Order of Forfeiture Rings, Lisa Murray, September 6, 2016

Over 4 years later, where are the Rings

https://www2.slideshare.net/malp2009/1376-final-order-forfeitureringslisa-murray

Cash as of 2020-09-30 $432,544

https://www.slideshare.net/malp2009/doc1102-quarterly-operating-report-2020-0930

$10,330 less, general business and other

I would not say that I have a lot of expertise in this area, but I am aware that there is some value in acquiring a company with a NOL carryforward.

A net operating loss (NOL) is a valuable asset because it can lower a company’s future taxable income. For this reason, the IRS restricts using an acquired company simply for its NOL’s tax benefits. Section 382 of the Internal Revenue Code states that if a company with a NOL has at least a 50% ownership change, the acquiring company may use only part of the NOL in each concurrent year. However, purchasing a business with a substantial NOL may mean a larger sum of money going to the acquired company’s shareholders than if the acquired company possessed a smaller NOL.

Congress enacted section 382 to prevent trafficking in losses. The rule surrounding section 382 are quite complex, often misunderstood, and driven by unique facts and circumstances surrounding each particular company and transaction.

So, I guess, Firstplus could be sold for some value to some company because of the NOL.

But, getting the trustee to do that, seems almost impossible, to me. Note that the trustee, I believe, did nothing to claim our rewards from the items repossessed from the criminal trial. So, at this point I do not think that we are going to get anymore effort out of the trustee to create any more value for us shareholders, creditors, victims.

Cash as of 2020-06-30 $442,874

https://www.slideshare.net/malp2009/doc1101-quarterly-operating-report-2020-0630

Status as of 4/9/20 - The end is near - No help from Mathew Orwig on Mob money.

https://www.slideshare.net/malp2009/doc1097-status-report-as-of-2020-0409

The Trustee is aware that the Trust has been designated as the recipient of certain restitution funds in a criminal matter related to this case. The Trustee has received de minimis distributions to date from the restitution order and does not anticipate receiving sufficient funds in the future to hold the case open. Accordingly, the Trustee intends to file shortly a motion seeking authority to abandon the estate’s remaining non-cash assets. The Trustee intends to file a second motion with a final accounting seeking authority to make final distributions and tax payments and to close this bankruptcy case.

Cash as of 2020-03-31 $450,616

https://www.slideshare.net/malp2009/doc1098-quarterly-operating-report-2020-0331

The Madoff victims fared a lot better than we did. We had the wrong guys handling our case. We did not get dime one from the government. Where was the court and the Securities Investor Protection Corp protecting us and getting us paid?

NEW YORK (Reuters) - Bernard Madoff's former customers will soon see their total recovery approach $14 billion, a court-appointed trustee said on Friday, as the dying swindler awaits a decision on whether the U.S. government will support his request to leave prison early.

Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, said he has begun distributing $369 million to holders of 854 accounts, bringing the total payout to all eligible customers to $13.93 billion.

The payout, including money committed by the Securities Investor Protection Corp, represents 80% of the $17.5 billion that Picard has said customers lost in Madoff's Ponzi scheme, which prosecutors have called the largest ever.

Q4 2019 – Cash as of 12/31/2019 $438,119

https://www.slideshare.net/malp2009/doc1093-quarterly-operating-report-2019-1231

Q3 2019 – Cash as of 9/30/2019 $411,851 - Drip - Drip - Drip

https://www.slideshare.net/malp2009/doc1092-quarterly-operating-report-2019-0930

Q2 2019 – Cash as of 6/30/2019 $415,183

https://www.slideshare.net/malp2009/doc1091-quarterly-operating-report-2019-0630

General Business payments $15,344, for what?

Other Disbursements $4,875, for what?

Windssome52, when you say that Kkr had the money for over a month now on 2/11/19, were you talking about the distribution money, that we just received, or the plane money?

What ever happened to the boat money, the bentley coin, or anything else that was recovered from the RICO case that is ours?

And if that was not the plane money, what happened to that?

Anybody?

Today, at 11:58 AM PT, I got $.01234394 per share at TD Ameritrade

Q1 2019 - Cash as of 3/31/2019 $435,146

https://www.slideshare.net/malp2009/doc1090-quarterly-operating-report-20190331

3rd distribution $573,022 on 1/18/2019

Over 3 months and I have gotten nothing

From the FORM 10KSB for Year Ending 12/31/2006

From page 33 of 61 – page F-11

6. Stockholders’ Equity (continued)

In July 2006, the Company instructed the Grantor Trust to make a distribution to holders of the Company’s common stock on a pro rata basis as of August 3, 2006, in an aggregate amount equal to 50% of the funds representing 53% of the FPFG Intercompany Claim previously assigned to the Grantor Trust of funds received, after reserves and expenses incurred on behalf of the trust, by the Grantor Trust from the registry of the court in the Grantor Trust Lawsuit in accordance with the Company’s Settlement Agreement with Danford L. Martin, individually, on behalf of the FPFX Shareholder Value Committee and the FPFX Steering Committee and as attorney-in-fact for all of the Petitioners in the Election Suit (as defined therein). The Company distributed $3,618,864. The Company has determined that the distribution was a return of capital since the Company did not have any current or accumulated earnings and profits.

I do not understand why it takes so long for a distribution?

I could kind of understand the first time. Who gets paid? Percentage? Etc?

But the second time and others? No. Everything is known. It should take a day or 2. The only thing that I can think of is that time equals more money for others like KKR

We lost $288,000 on the plane

2. Prepetition, the Debtor transferred at least $618,000 of the Debtor’s own funds to William Maxwell, William Maxwell, PLLC, or William Maxwell, P.C. (collectively, “William Maxwell”), who used the funds to purchase a Mitsubishi MU-2B-60, s/n 1562SA, N1164F aircraft (the “Airplane”) from Epps Air Services in Velia’s name. Velia was a wholly-owned, second-tier subsidiary of the Debtor, created barely one month prior to the purchase of the Airplane, for the sole purpose of holding title to the Airplane. Upon information and belief, Velia had no assets or liabilities other than the Airplane, no employees, and no independent business operations. Upon further information and belief, the Debtor—not Velia—paid for maintenance of the Airplane and for hiring pilots for the Airplane. As a result, it appears that Velia provided nothing to the Debtor in exchange for the funds to purchase the Airplane. Instead, Velia served simply as a shell for the Debtor to hold title to the Airplane—a prepetition alter ego of the Debtor.

Looks like the Plane sold for $775,000 recently

http://www.air1st.com/aircraft-sales/turboprops/124-1984-mu-2b-60-s-n-1562sa-n1164f.html

the title has change a few times

https://registry.faa.gov/aircraftinquiry/Document_Results.aspx?colltxt=1164F&partytxt=&PageNo=1

https://flightaware.com/resources/registration/N1164F

Looks like the Plane sold for $775,000 recently

http://www.air1st.com/aircraft-sales/turboprops/124-1984-mu-2b-60-s-n-1562sa-n1164f.html

the title has change a few times

https://registry.faa.gov/aircraftinquiry/Document_Results.aspx?colltxt=1164F&partytxt=&PageNo=1

https://flightaware.com/resources/registration/N1164F

Does anyone know how much money the DOJ is sitting on?

The Trustee is aware that the Department of Justice is holding certain funds which may constitute estate property, including the proceeds of an aircraft which the Court previously determined was property of the Debtor’s estate. In addition, there have been some informal conversations regarding the possibility of the Trustee’s distribution channel being used to help pay out some of the restitution funds collected by the Department of Justice. The Trustee intends to resolve this matter in the first quarter of 2019, allowing for the final distribution and closing of the case.

Status Report as of 1/28/2019

https://www.slideshare.net/malp2009/doc1089-status-report-as-of-2019-0128

Quarterly Report as of 12/31/2018 - Distribution for $573,022

https://www.slideshare.net/malp2009/doc1088-quarterly-operating-report-20181231

From Justin Hughes at KCC LLC

There will be a payment soon. However, payment amounts will not be ready for at least several weeks. We are working on it.

-Justin

jhughes@kccllc.com

T: 415.798.5907

Cash as of 9/30/2018 $1,110,488

https://www.slideshare.net/malp2009/doc1086-quarterly-operating-report-20180930

Cash as of 6/30/2018 $1,111,390 per the Q2 Quarterly

https://www.slideshare.net/malp2009/doc1085-quarterly-operating-report-20180630

The following will give you the attorneys and parties. I would try Doug and Matthew

https://www.slideshare.net/malp2009/firstplus-financial-group-bk-attorneys

https://www.slideshare.net/malp2009/firstplus-financial-group-bk-parties

Status Report as of 2018-03-20

https://www.slideshare.net/malp2009/doc1083-status-report-as-of-2018-0320

We should get a status report on March 19, 2018

https://www.slideshare.net/malp2009/doc1082-court-needs-status-report-by-20180319

Cash as of 12/31/2017 $1,128,142

Down about $27K

https://www.slideshare.net/malp2009/doc1081-quarterly-operating-report-20171231

FPFX Cash as of 9/30/2017 - $1,155,856

https://www.slideshare.net/secret/pCnfXne3HLJbn

FPFG - 2017 - Q2 -operating report - Cash $1,179,948

https://www.slideshare.net/malp2009/doc1079-quarterly-operating-report-20170630-78861511

FPFG Liquidating Trust is extended to February 22, 2019

Maybe waiting for more coin to come in?

https://www.slideshare.net/malp2009/doc1075-2-extending-the-time-or-the-trustee

https://www.slideshare.net/malp2009/doc1075-1-extending-the-time-or-the-trustee

KOmani, the tender offer has been extended to 2/24/2017

So as of today, no shares have been officially tendered and closed out. The share count as of today is still 9,444,000

One has until 2/24/2017 to withdraw any shares tendered.

It is my feeling that a lot of the shares put up for tendering will be withdrawn.

I think that by Friday the shares tendered well be less than 1M

Why tender shares at 1.50 and they are trading at 1.69 and are worth north of 2.72

Management is trying to pull a fast one.

Like you said, the offer is a JOKE!

Someone should explain the meaning of fiduciary to management and the board.

Today, 2/21/2017, SunLink closed at $1.69, 19 cents above the tender offer. On 2/14/2017 they issued their 10Q for the period ending 12/31/2016. The book value of the company as of 12/31/2016 is $2.72 per share, $1.22 above the tender offer. And we all know that with the possible future sale of the pharmacy business of about $10M to $12M, and all of the other buildings and property that the company owns since 2001, along with the licenses, the FMV of the company is far north of the $2.72 per share.

Note that this unfair unreasonable tender offer of $1.50 made by the Management Team and the Board of SunLink Healthcare Systems Inc has made this tendering very difficult for the non-affiliated shareholders. Meaning that, this gun to the head offer, take this offer or the affiliated shareholders are going private, underground, going dark, with non-tradable shares, is just plain wrong.