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I don't need 1,200 or so contact people. Many people do not believe in FINRA data that show 90% plus short volume for years on end. Let the Lawyers determine if it is true or not. I don't need 100's of people telling them it is not really short volume beforehand. I could go on and on with examples.
I will. In fact, If we need to get a certain number of names to start the suit, I would be glad to have you help me verify a person's alias on the board as a legitimate long shareholder as best as we know. I hope that Rocket and AlanC can also help me.
I won't release an email address unless I am sure.
Lawsuit Update
I have still been in communication with a prestigious law firm concerning our case. They have a senior analyst/investigator looking at the case. We, shareholders, have been with FFGO for years. It takes some time to get the lawfirm up to speed to where we are.
The fact that they are taking this much time to consider this case shows me that there is validity to the case. Hopefully, they will take our case. If not, I will learn the strengths and weaknesses of our case.
If our case is taken, I will probably set up an account with Investorshub where I can send out PM (private mail). In that case, I will send out specific information to longs that have a legitimate interest in a suit. I don't need legal and illegal shorts and others sabotaging or hindering our efforts.
There are over 3 billion reasons that they may file BK. The debt of around 1 billion or so. The pension liabilities of around 2.6 billion.
I do agree with you that Kodak has many patents and innovations and possible favorable lawsuits that could totally turn around the company if they can stay afloat during 2012.
A buyout is a possibility. I think that potential buyers want to see how any bankruptcy and the pensions, lawsuits and copyright laws play out before possibly buying out kodak.
Tripled my position last week. If we have another fall like last week, I will double my position this coming week. If we fall hard the week after next, I will again double my position. If EK keeps falling, I will sell other investments if I have to in order to keep doubling the position until
1) price bottoms out finally
2) patents sell
3) kodak is taken over or sold
Does EK need CH11 to escape any pension liabilities?? True, if EK needs to legally escape pension liabilities and/or debt removals or modifications then a CH11 might happen.
Very True SevenTenEleven. I would like to say that many of us should be able to get tax benefits without writing down the shares. I have fidelity and scottrade. Both of those accounts show zero (no value). I believe that you have different brokerage houses that still show a positive value.
I believe that when I receive my 2011 tax forms from my brokerage houses concerning FFGO, they will show a total loss. I should be able to claim the total loss up to $3,000 on my capital gains. Capital gains or losses in no way affect the shares. They are still valid.
There is no need to write down shares. There are many FFGO shareholders that hold less than $3,000 in invested funds. They can use capital gains losses as a way to help their tax burdens.
For shareholders with accounts larger than $3,000, there is nothing that you can do. Hopefully, 2012 will result in a dividend or a legal settlement.
I should add that you have nothing to lose. The government is surely going to want any future FFGO capital gains through dividends or legal settlements. So, might as well claim the capital losses for 2011.
They made it around another 30 years from that article. They may go another 30 years. Who knows??
Sure, unless the company counter spins the negative press, share prices in the .20's are possible next week. I will add more shares if this happens. The latest negative spin I have heard is saying that Kodak owes 2.6 billion on pensions and has a net negative share price. I don't believe that Kodak is legally obligated to those pensions or to sell its patents in any bankruptcy proceedings. Both of which,it is accused, that Kodak is obligated to. I know that pensions and 401k guidelines change at my company that I work. Kodak is no different. Though, the negative spin remains.
That's fine I suppose. Keep the negative press going and I will keep buying. I did last week and probably will get a chance this coming week. I think I know the real "truth."
I think the reason Kodak has not issued a statement is credibility. They don't want to deny a bankruptcy and then file bankruptcy in a couple weeks. Otherwise, after 2 trading days and over 30% fall in the value of the stock, they would have issued a statement of denial.
If EK files BK will they include the 1,100 patents at fire sale prices or will they wait (if they can afford to) til after BK???
Chapter 11 or Chapter 7 and why?
If EK has up to 1 billion in debt, why not do a CH 7 and be done with it? Future borrowing reputation?
It appears that patent buyers might be hoping EK files BK so that they can get patents cheap??
Could being "dormant" be widely interpreted as becoming revoked? Being dormant for long enough will eventually have these type of consequences.
You can see from the post that I am replying to that Silver has just touched $26 an ounce as I had thought. Gold has even fallen harder is around $1550. This is worse than I had previously stated because the S&P is well above 1200, so, it is likely that gold and silver might be persuaded to fall when the S&P falls.
If NMGL intends to buy the remainder of the gold mines this is good news. If NMGL already owns the gold mines, but, has not filed to the SEC for the ownership of the mines, then this is very bad news.
Silver will possibly fall another 20% to around $21.75. If gold follows 15% to silver's 20% (silver is more volatile) then we could see gold at $1318. It took a little more than a month for silver to fall 20% to where it is now as it broke the $30 support. Gold followed. We will see how the next month or so treats gold and silver.
As I posted on 11/25. I doubt a dividend will come before a revocation. I doubt NMGL will file ownership for the other half of the mines before revocation. If revocation is around 100 days away, there isn't much time left. Little did I know we were only 13 days away from being revoked.
It is a shame we never got a "revocation hearing" or other chances for shareholders to be heard in a court of law. I would love to get a chance to question Peter or Ronald or a FINRA official.
They will show up when they are ready to distribute the dividend. Expecting CASH! --SevenTenEleven
They MAY show up IF they are to distribute the dividend.
Let's start with what FFGO said that has been true. They sold a gold mine. They went dormant. They did help create an NMGL A&B share.
Now let's look at the lies. We have press release after press release or newswire after newswire of knowingly lying before the FAQ's and "new game plan" were released. We are still left with FFGO receiving compensation in the form of NMGL A&B's and not including FFGO shareholders. FFGO waited until AFTER the sale of the gold mine to tell us the truth. Having the irrevocable consent of all minority shareholders had to have been a lie, otherwise, after 16 months we would have filings showing 100% ownership of the mines.
With all the "truth and lies" I don't see how anyone can confidently say anything will happen in a certain way.
I have to operate on what are the facts. Again the facts are that:
FFGO and NMGL are both "locked in" and "liable." FFGO should have released the dividend immediately following the sale of the gold mine. FFGO received compensation for the mines without including FFGO shareholders. NMGL filed NMGL A&B's for FFGO's share of the mines. NMGL was supposed to have the irrevocable consent of all minority shareholders and file for ownership of 100% of the mines. NMGL has only filed for FFGO's less than half ownership of the mines.
Perhaps, NMGL or FFGO will step up to their commitments despite the lies and facts so far. I surely cannot say that anything is certain. I cannot say that FFGO is a scam and I cannot say that FFGO is 100% truthful, honest, transparent and a dividend WILL happen.
All that I can try to do 100% is act upon the facts as they are presently. Presently, many FFGO facts are illegal. An immediate cash dividend was promised and not delivered. Compensation that was promised to shareholders was given solely to FFGO and WD.
I am going after the illegal actions of FFGO and naked (illegal) and legal shorting with equal vigor.
the agreement between FFGO/WD and NMGL stated if FFGO were to have any regulatory problems the deal would default --puppydotcom
FFGO has enough problems that are facts. We don't have to create lies that take us to the level of FFGO. There is nothing that states that any regulatory problems "default" or "cancel" the dividend. There is the "reputational risk" clause that does not state what is a reputational risk is. Regulatory problems such as failure to file for FFGO is not, to me, in any way a "reputational risk" to NMGL or NMGL delivering the dividend.
Many are scared of this "clause" and don't want to do anything regarding FFGO or NMGL because of this clause. If you think it through, it is not an impediment. If it is an impediment, then it highly likely that NMGL would be doing something illegal to cancel the dividend. Remember NMGL has shown intent by creating NMGL A&B's and filing upon it.
FFGO and NMGL are both "locked in" and "liable." FFGO should have released the dividend immediately following the sale of the gold mine. FFGO received compensation for the mines without including FFGO shareholders. NMGL filed NMGL A&B's for FFGO's share of the mines. NMGL was supposed to have the irrevocable consent of all minority shareholders and file for ownership of 100% of the mines. NMGL has only filed for FFGO's less than half ownership of the mines.
Getting distracted with lies, speculation, etc. leads to entirely false endings and conclusions. There is plenty of liability and problems sticking entirely to the press releases, filings and website "releases." There is no need to speculate.
Compensation is compensation for the purposes that i have in mind and have explained in past posts. Registered or unregistered it doesn't really doesn't matter to me.
I don't see any WD shares in the filing. I am unaware of WD issuing shares.
I haven't seen any WD shares or any cancelled "unregistered NMGL shares" in a press release or filing.
There is no official notice of the dividend being cancelled because of the SEC suspension.
There is no proof that Searchlight has FFGO's portion of the mines. There is no proof that any of these events happened.
True, in a BK, they might be forced to sell patents or other assets to satisfy creditors and terms of the BK. I wonder if such a sale would be faster or as lucrative in a BK setting.
BK might buy them up to another year to turn the company around. If they could get rid of 900 million in debt in a BK proceeding that would buy them some time. They could then get 2 billion for the patents and have another year or two or could invest in areas that could turn a profit.
Ofcourse, Kodak will deny allegations of BK until the day that they may file BK. Must be many who believe BK is possible as the price keeps heading south and technically has not bottomed out at all. I don't see why BK would be imminent unless the patent auction is not really "robust" as they claim and that the debt they own is hurting their cash flow and business to such a large extent.
In any case, I would love to buy EK below the YTD low of .54 (say .25). Last time we created a YTD low was on a BK rumor spike down. We aren't even desperate or begun spiking this time around. We are just slowly grinding down. In this case, we will keep grinding lower until something substantial reverses this or we begin to start spiking.
BK isn't the end of the world. Companies can recover nicely. As I believe EK has a good shot at doing. Would like to buy ultra cheaply. We'll see.
Care to explain why you don't "buy my deal" or how "my deal" is "smoke and mirrors for shorty" or why I should re-read the NMGL deal after FFGO promised a dividend immediately after the sale of the gold mine and even received compensation for the gold mine, but, doesn't include you or I on that compensation.
Or do you want to do another one line or one word cryptic sentence like usual? Let's see a well-thought out paragraph or two.
Ok, pro-bono is "free" and contingency is a percentage. Percentage is fine.
No, in fact, the firm I talking to deal ONLY on a contingent (pro bono) basis.
Read my "LAWSUIT DRAFT" post and many other posts where I describe how FFGO was promising an immediate dividend to FFGO shareholders, but, at the same was working out an indeterminate, indefinite dividend with NMGL. FFGO received compensation for the gold mines in the form of NMGL A&B's, but, did not pass on any dividend to FFGO shareholders.
If WD were forced to release NMGL A&B's, then these shares would quickly be overran by FFGO shares that are trying to redeem them exposing a large naked short and other "entities" as you call them to address.
I have been transparent and clear. Instead of negativity, please offer some positive constructive help that offers us more options than putting all our eggs in one basket and hoping that NMGL solely delivers a dividend.
Puppy, where do I start.
the divvy was based on NMGL selling the mines ( did not happen )
The dividend was based on FFGO selling the mines. They did and received NMGL A&B's as compensation. NMGL was not mentioned until AFTER the sale AFTER dozens of lies in dozens of press releases and news wires.
FFGO was the typical penny stock con job .. everyone with the slightest knowledge of how the market works knew FFGO was an SEC violator and was heading for revoking. Every single 8K was packed full of weasel clauses and legal outs
To be a victim of illegal market activities do not need a threshold of knowledge or foresight attached to them.
the CEO of FFGO stated " no short issue
Go back to press releases for FFGO & GWGO for several years and see how that gels.
there is ZERO proof of any illegal NSS of FFGO
FINRA, REG SHO, Daily Volume.....
make sure the law firm fully understand ALL THE REAL FACTS
before anyone sends them any money!
Thanks, I will. If they take the case it will be on a contigency basis.
With billions? in illegal (naked) and legal shorting, a $258 million filing, companies, rich individuals, market makers, brokers, offshore interests, government agencies, there are a whole slew of people who are complicit and liable. There is money to be made here. Just need an organized plan that doesn't rest solely on NMGL.
I have spoken to a lawyer for a second day about a possible class action. She has not said "yes" or "no" yet. With her blessing, I am emailing her the facts of the events. She needs to know that her firm will make money successfully. If anyone has ideas that might persuade her of the merit and the money her firm can make, I will gladly copy/paste and forward them to her. The quicker the better, before she might decide against the case.
You bought at $1.02 and sold at .70 and made a profit??
Absolutely. You also have a significant time expenditure in addition to your financial postion. I am amazed at your posts throughout FFGO, the sisters, and other investments that you post on. It is a full-time job.
Your commitments are appreciated and will be rewarded.
I don't understand -- Won't take more than 60 seconds to confirm. ?? Whether an IOU or a real share?? Who confirms? When?
Revoked stock shareholders can also file lawsuits to get dividend and trapped naked shorters. Being revoked, I think actually helps as there are no more excuses or changes as a static entity only a settlement. I will see if legal counsel confirms this suspicion or not. I am providing information about the dividend and the Fail to Delivers to a prestigious law firm now. I have talked 1 on 1 and hope to hear some good news later this week. Either way, I will keep pressing on with this law firm or another. If I can get a firm commitment, I will release all the details.
There is a chance for NMGL to come through. There is a chance for a legal solution. There is even a chance for a government solution where they address fraud and their own trading numbers.
For me, there is also the principle of it. It is like letting a criminal get off free. A crime was committed. Like murder, for me, there is no statute of limitations. Give up now, and when the solution does finally come through, imagine the grief and regret you will suffer. I will see this to the end with no regret.
Ben, why are you making this out to be a NSS issue. This fantasy .0034 divvy has nothing to do with any short
Both FFGO and NMGL hyped, sold and promised FFGO share holders the divvy .. now both company's have completely disappeared and all I see are investors blaming the unknown, unproven NSS for the failure to issue the divvy
I never said I blame NSS for the failure to issue the divvy. I said quite the opposite. I blame failure to issue the divvy for the failure to be able to expose the NSS.
Very true. Market Makers can naked short. Individual investors can short (not naked) but still short a stock, also. AlanC posted a brokerage firm in the past that specializes in this. It may not be the only one. FFGO will make that expensive indeed!
No excuses indeed!!
We need those shares to be trading as it was stated they would
A huge static cash payment for the dividend and a huge static cash payment for the naked short would be fine with me. No trading up or down is necessary.
"Revoked" traps shorty where no shares can be exchanged or covered. To expose shorty we need something that causes shares to be exchanged such as a dividend or a lawsuit judgement.
puppy, once again...unregistered, registered, it doesn't matter. Both can expose the naked shorts, that you deny exists, if a suit were successful in having WD distribute the A&Bs.
Day one? NMGL came along on Day 326? Dozens of press releases guaranting a dividend after they sold the gold mine before that clause came out.
Sorry, that wasn't really directed at you so much. I appreciate your posts. I have found a class action firm that deals exclusively on a contigent fee agreement. I am trying to contact them now. If I make positive contact, I will release all the details.
MOVING FORWARD. The irony overwhelms me.
FFGO has no cash and sold their part of the mines to NMGL who has no cash to pay the dividend.
NMGL has had no communication with shareholders. They have not filed for the other "half" of the gold mines with 15 months and counting.
Even if we got the dividend from NMGL, I would bet that they would sell to ANOTHER company with no cash that would have their own A-H list.
We would start the whole game again.
It is ironic that NMGL is somehow "trusted" and "dependable" that they will come through with the dividend, but, if you had a "lawsuit" they would suddenly be "untrustworthy" and "undependable" and would not give us a dividend.
That is utter nonsense. It is either trustworthy and dependable or untrustworthy and undependable.
Crafting a sensible lawsuit would alleviate any concerns anyway. For instance, if we were going after NMGL A&B's that WD holds that only affects FFGO at the worst. They promised us a dividend anyways. Whether NMGL pays us or FFGO should make no difference. It is the same amount of NMGL A&B shares to be paid.
The big win would be if WD released the shares and we exposed the naked shorts as FFGO shares overwhelmed the matching NMGL A&B's that are available.
I am surprised how small minded and fearful many people are. Concerns should be aired out.
NMGL is likely going to lead us to another company that has no cash and has its own A-H list.
Let's expose the naked shorts and find some people with money (DTCC, SEC, NITE, Market Makers, etc.). Let's get some options and have help to find the money.
I cannot believe the number of people posting me cryptic one liners that are chicken to spell out what the fears or problems they believe exists. All I see is people who are trusting NMGL with everything, but, are scared as hell of NMGL at the same time. That is an insane relationship in my opinion.
I am moving forward to solicit help. I know there are many who want to see us get some legal help. To the rest, I hope this will help. I will let you know if I find some help.
May need another law group to try. Braun has not responded to phone calls and an email. Suggestions (non-sarcastic) please.