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I would love to see an ask of .0003.
GMAC, you're going to have a hard time buying at .0001. Especially if the company, releases the recorded divy date this week.
It looks like we will test the threes. I prefer a steady climb.
The company is not diluting, read their press release. Unless you can support your statement with a link.
PINR volume and PPS are on the move. Over 3.5 million shares so far.
Thanks but no thanks, BTW I bought more shares yesterday.
My hunch is the TA updated on shares has been finalized. Today should be a good day.
WHY? Outstanding shares is 50% less now than when FFGO ran from .0001 to .0009 a couple of weeks ago.
Poker, it would be nice if the company would update shareholder about current operation.
What did we closed at?
For a stock price with no bid yesterday and now we are hitting .0002... the run has started.
Another 52 week low .0001.
FFGO!! VOLUME and PPS is moving over 660 million shares in less than a hour.
I was hoping we would close at .0002. It doesn't look like we will make it.
That's OK, buy tomorrow I should have some money freed up.
What happen to the bid.
FFGO, Great News, volume is at 800 million shares.
More News out on FFGO, Volume over 500 million shares .
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Press Release Source: Fortress Financial Group, Inc.
Fortress Financial Group, Inc. -- Stock Dividend Valuation
Wednesday September 17, 11:04 am ET
Company Confirms the Final Valuation of Its Extraordinary Stock Dividend
NEW YORK, NY--(MARKET WIRE)--Sep 17, 2008 -- Fortress Financial Group, Inc. (Other OTC:FFGO.PK - News) has filed a Form 8-K on September 17, 2008 in respect of the Extraordinary Stock Dividend being paid to its stockholders in respect of the sale of the Company's interests in the "Bouse" and "South Copperstone" Gold Mining & Exploration properties.
ADVERTISEMENT
The Company can confirm that this Dividend is valued at US$0.0239 for every 1 (one) share of this Company's Common Stock. This value will not be altered whatsoever and this final valuation is based upon the terms of both the agreements entered into and is based upon the verified number of the Company's shares of Common Stock which will not be increased nor decreased whatsoever, prior to the "Pay Date" of this Dividend.
It is expected that the Company will be in a position to confirm both the "Record Date" and the "Pay Date" in respect of this Stock Dividend, within days now.
The Company expects to announce a final decision on the sale of certain of its subsidiary companies and other portfolio holdings in due course.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
FFGO ready to run! JUST OUT Today's 8K...Over 150 million shares in 6 minutes
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported): September 17, 2008
FORTRESS FINANCIAL GROUP, INC.
(Exact name of registrant as specified in charter)
Wyoming
(State or other Jurisdiction of Incorporation or Organization)
000-24262
(Commission File Number) 1903 60 th Place E,
Suite M2240
Bradenton, Florida 34203
91-1363905
(IRS Employer Identification No.)
(Address of Principal Executive Offices and zip code)
(954) 840-6961
(Registrant's telephone
number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
ITEM 8.01 OTHER EVENTS
On September 17, 2008 the Company has an amount of 31,562,377,817 shares of its Common Stock outstanding following the cancellation of stock repurchases by the Company. This has been verified by the Transfer Agent to the Company.
An additional 4,500,000,000 restricted shares of the Company are awaiting cancellation, the Transfer Agent requested additional paperwork in respect of those stock cancellations. These are in respect of the cancellation of the "Signing Bonuses" awarded to Alan Santini, Jack Chang and to Leslie Smiedt.
The amount of outstanding shares of the Company's outstanding will be in the amount of 27,062,377,817. This is the amount used in this Stock Dividend calculation.
The Company will receive an amount of US$645,613,390 in Hurasu (see below for description) shares of Common Stock; all to be distributed to its stockholders as an Extraordinary Dividend.
Based upon the number of outstanding shares; the value of this Extraordinary Dividend is valued at US$0.0239 per 1 (one) share of Fortress Financial Group, Inc.
A detailed calculation is set out below.
CALCULATION OF THE VALUE OF THE EXTRAORDINARY DIVIDEND:-
As at September 17, 2008, an amount of 510,537,026 shares of Bouse Mining Holdings plc (hereinafter referred to as "Bouse") are held by Western Diversified Mining Resources, Inc. (hereinafter referred to as "Western"); a wholly owned subsidiary of Fortress Financial Group, Inc.
As of August 25, 2008, the Company entered into a binding Heads of Agreement to dispose their entire shareholding in Bouse; to a quoted Gold Mining & Exploration Company (hereinafter referred to as "Hurasu"). This is to be settled through the issue of restricted Shares of Common Stock in Hurasu.
Hurasu will be paying US$0.76 for every 1 (one) Ordinary Share in Bouse.
The Company will receive an amount of US$388,008,140 in shares of Hurasu Common Stock in respect of its sale of its entire stockholding Bouse to Hurasu. The Hurasu shares will be priced at US$10.00 (ten dollars) each for the purposes of this calculation.
An amount of 1,030,421,001 shares of Copperstone Mining Holdings plc (hereinafter referred to as "Copperstone") are held by Western as at September 17, 2008.
As of August 25, 2008, the Company entered into a binding Heads of Agreement to dispose their entire shareholding in Copperstone; to a quoted Gold Mining & Exploration Company (hereinafter referred to as "Hurasu"). This is to be settled through the issue of restricted Shares of Common Stock in Hurasu.
Hurasu will be paying US$0.25 for every 1 (one) Ordinary Share in Copperstone.
The Company will receive an amount of US$257,602,250 in shares of Hurasu Common Stock in respect of its sale of its entire stockholding Bouse to Hurasu. The Hurasu shares will be priced at US$10.00 (ten dollars) each for the purposes of this calculation.
Hurasu is currently trading under a different name at this time and is undergoing a change of name and Trading Symbol to that of Hurasu Resource Corporation following their recent acquisition of the "Bonanza" and "Santa Clara" Gold Mining & Exploration properties.
2
--------------------------------------------------------------------------------
Hurasu has three detachment fault properties, those being "Bonanza", "North Rawhide" and "Santa Clara" which are on the same trend as both "Bouse" and "South Copperstone".
The Board of Directors of the Company has resolved to distribute all of these shares of Hurasu Common Stock to its stockholders as an Extraordinary Dividend. The Company is at this time working with professional Advisors to co-ordinate the payment of this Extraordinary Dividend of the Company's shares of Hurasu Common Stock to stockholders. The Company will set a "Record Date" and a "Pay Date" in respect of this Extraordinary Dividend very shortly.
PURCHASE OF MINORITY STOCKHOLDER INTERESTS IN "BOUSE" AND IN "SOUTH COPPERSTONE" BY "HURASU":-
Hurasu has agreed to purchase the balance of the stock in "Bouse" and "South Copperstone" held by minority stockholders at the same price per share as set out above.
Stockholders of Fortress Financial Group, Inc. (formerly Great West Gold, Inc.) who were stockholders of Record on November 7, 2006 received stock in Bouse Mining Holdings plc. Hurasu is purchasing their shares in Bouse at a price of US$0.76 for every 1 (one) share held.
Stockholders of Fortress Financial Group, Inc. (formerly Great West Gold, Inc.) who were stockholders of Record on December 2, 2005 received stock in Copperstone Mining Holdings plc. Hurasu is purchasing their shares in Bouse at a price of US$0.25 for every 1 (one) share held.
These purchases of the balance of the stockholdings will be transacted on a separate date from the Extraordinary Dividend to Fortress Financial Group, Inc. stockholders as set out in this filing.
Upon the completion of these transactions, both "Bouse" and "South Copperstone" will be wholly owned by Hurasu.
BACKGROUND ON "BOUSE" AND "SOUTH COPPERSTONE":-
"Bouse" and "South Copperstone" are both located in gold-rich La Paz County, Arizona, and represent a class of deposits known as detachment fault deposits. This type of deposit is prevalent on both sides of the Colorado River in both Arizona and California, and mineable resource is typically in the 500,000 ounces to 5 million ounces gold range, with a grade of .05 to .2 ounces of gold per ton.
The detachment fault type of deposit was first recognized in the 1980’s with the discovery of the Copperstone gold deposit, from which Cyprus Minerals mined 500,000 ounces of gold by open pit. Another mining company is presently exploring the remaining underground resource (which is believed to exceed 400,000 ounces) and is assessing feasibility of reopening the mine. The nearby Mesquite deposit, located in Imperial County, California, is also viewed as a detachment fault deposit. Mesquite is several times the size of the Copperstone Deposit and was mined for many years by Newmont; Mesquite is presently operated by Western Goldfields.
The South Copperstone property is a large contiguous claim block immediately south of the Copperstone Mine. Past drilling has identified gold in quartz latite, as well as a geophysical anomaly in the center of the South Copperstone Claim block. Further geophysical (including magnetic) work is planned to develop future drill targets.
The Bouse property was previously explored by Homestake Gold (now part of Barrick), which found gold mineralization throughout the property. Drill data is available for approximately 80 Homestake drill holes. Previous work by another mining company identified a 500,000 ton resource along two high angle faults that were not extensively drilled by Homestake. Exploration plans include integration of results from the previous exploration and new geophysical (including magnetic) work to identify additional drill targets, particularly along the high angle structures, with a view toward increasing the resource.
3
--------------------------------------------------------------------------------
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not Applicable
(b) Pro Forma Financial Information.
Not Applicable
(c) Exhibits
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Fortress Financial Group, Inc.
September 17, 2008 By: /s/ Alan Santini
Alan Santini
Chief Executive Officer
Come on Penny, we had two press releases yesterday. I'm content with the latest one. As soon as some my other trades money is accessable, I will buy more shares.
Since the ARC debacle, PINR has been at a 52 week low. We need another to mend the ARC deal and we will be back up and running.
How many millions will FFGO receive when the Hunt gold deal is finalized?
Actually, Today's 2nd press release was fantastic. I look at .0001 as buying opportunity.
Right now, volume is roughly at 6% of the soon to be adjusted float.
You think naked shorts are covering their positions.
FFGO over 1.7 billion shares pps at .0001.
I would like to see 150 stores by the end of the month.
I wish I had cash in my account. I would be buying at these prices. Very odd PR Today. Company usually don't announce they stop buying back shares.
Who knows maybe the OS will be lower than what we expected.
I'm just curious why would the company announce they stop buying shares? Something is going on.
The last purchase before the massive run!
Wow, traders selling? I hope the company is buying shares at .0001.
Maybe on of those brokerage firm who needs money, like AIG.
The company was buying at .0003 and .0004. My hunch is they are buying at .0001.
Thanks for the link. Will this new rule change include pinksheet stocks?
Make that 700 million shares...News Tomorrow?
If it was 10% of the float I would be jumping in. However it's only 1% of the float.
Yeah, I'll waiting until I see volume picking up at a steady pace.
Thanks Rayman, volume is up today.
Why was Stemtroic deal delay? Was Mike pumping and pretending their was a deal?
Ask MP, he might do it.