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This Dividend will not be declared until NMGL has:
(a) acquired the balance of the Bouse Gold, Inc. shares of common stock giving them 100% ownership of Bouse Gold, Inc. through the issue of additional NMGL Preferred Series “A” shares
(b) acquired the balance of the South Copperstone, Inc. shares of common stock giving them 100% ownership of South Copperstone, Inc. through the issue of additional NMGL Preferred Series “B” shares
(c) audited both Bouse Gold, Inc. and South Copperstone, Inc.
(d) NMGL will be required to file a “Super Form 8-K with SEC upon their obtaining control of both Bouse Gold, Inc. and South Copperstone, Inc.
(e) filed a Registration Statement with the SEC in respect of the NMGL Preferred Series “A” and Series “B” shares
(f) such Registration Statement has become effective
(g) obtained a CUSIP Number and a Trading Symbol for both the NMGL Preferred Series “A” and the Series “B” shares and
(h) admitted the NMGL Preferred Series “A” and Series “B” shares for trading on a recognized exchange.
NMGL has set these “ground rules” as stated above and they are not negotiable. NMGL refuses to enter into any discussions or debates of whatsoever nature in respect of these transactions, as is their right
http://www.fortfinancegroup.com/faq.html
In short, ffgo may 'receive' the preferred shares from nmgl now BUT they will not be permitted to declare the dividend to the shareholders UNTIL all of the above 'ground rules' are met... The anoying part is that there is no way of knowing how long it will take for the above-mentioned items to be met... Since the bid is gone, ffgo holder will now have to wait for a dividend declaration that may or may not happen or may take a very very long time to pan out... just hoping that all this 'planning' will have a beneficial outcome in the end or at least create a share price movement when this damn dividend date is finally announced, if everrrrr (heck, at this point even a returned bid would allow for a change in sentiment...but with the company pointing to grey markets for ffgo, shutdown of IR firm and corporate actions, it seems that their only concern is getting these preferred shares and not creating a trading environment for ffgo shareholder!!! Are we all following the piper off the cliff...probably...do we currently have a choice...doesn't look that way...will the outcome be worth the risk??? ffgo is certainly suggesting so...but then again they have suggested ALOT thus far!! lol :0
-PD
Can_Wait>>> May I ask you wrote this correspondence??? It has make some interesting points that have been ruminating in the minds of several pro-ffgo players... The only thing left to fit into this 'puzzle' is what credibility and future this buying FUND has in the market...It seems that bezano is positive about the fund (naturally:) however, it will be interesting to see if he can show the market the same level of optimism towards the buyer...if so, I would imagine that the shareprice of ffgo will elevate come record date of this 'extraordinary divi'...
-PD
"When the 5 biggest shareholders simultaneously "donate" 99% of their shares into the pot for cancellation they're doing it at somebody's request or demand and they're accepting a smaller slice of a much larger pie"
Bingo! I read all of NMGL's filings...It is a squeaky clean filer that obviously has been groomed for reasons beyond the pinkworld...Perhaps the players involved had similar purposes for HGLC but realized that they had still made alot of mistakes along the way with the sharestructure and DD of past shell, etc......Well, looking at this fund from an objective point of view, the share structure is low, the filing status is uptodate, the past shell is clean, they have a preferred shares structure that avoids dilution of common shares for mine purchases (unlike HGLC)... They can really do anything they want through this fund but I imagine that selling to a legitimate 3rd party buyer just became a heck of alot easier... Just my two cents..
-PD
Relax dude, enjoy the sun, watch a movie, do some yoga...get your mind off things.... in a few days, everything will be on the table...once the divi dates are set, the situation will become quite different... If the dates come and go without a 'divi' then perhaps you and everyone will have a case...however, if a 'investigation' is triggered, even if it proves innocene of ffgo, the damages will be paramount and crippling to ALL shareholders, longs included...ie. HGLC... I suggest you and I and everyone who is serious about getting thier money to just chill and wait for the divi dates to be annouced... Closing date tomo will be the deciding factor in all this caos... GL
-PD
DEAL CLOSING DATE IS TOMORROW!!!
That is more important than our 'update'...once the deal is closed, Im sure alot more 'information' will be allowed to be released...at this point one or two days for an update makes no difference.... Longs need to take a breather and relax!!!!
-PD
jufel,
I am a fellow long...If you don't mind me PMing me the name of the company that you refer to that went from .0015 to .01, that would be super! Also, I had a question for you about the 'squeeze' theory: If the divi record, pay, and ex-date is announced, exactly when does the share-price rocket up???? I am presuming that you are expecting a short squeeze here, but when are you expecting it... I have asked a few ppl this question...just trying to outline this play through a few more experienced pennystock players, thanks in advance
-PD
I really dont follow pinks much other than a few I got 'enticed' by...regarding NSS, I dont know enough about the 'theories' to comment... Regardless, I wouldn't be surprise to see a mini run closer to the divi-record date... Suppose that the company will do alot of 'explaining' over the next few days... Of course, I'm disappointed with the SP flatline at such high volumes but am willing to follow this one for a few more days...long term, this play has so far been more headache than its worth...and the case of 'scam' is clearly prevailing over the case of 'multi-bagger'...Time will tell, as always..
-PD
you are probably right as per usual :)
-PD
well said
-PD
roundmot,
I have a question that I need help with answering...it's regaring this NSS squeeze theory... Lets say that it may be a possibility...if that be the case, then when are you expecting this aqueeze to actually take place...before the record date, as of the pay-date or after the record date but before the pay-date???? I've asked the board this question many times but it doesnt seem that anyone really knows or even closely understands what is going on here...however, reading your posts, I get the impression that who have many of the 'pieces' figured out so fill a brotha in will ya???!!!!!!! :)
-PD
very interesting...Im starting to wonder the same short cover stuff as well...however, when would the cover then have to happen....would it be before the record date in order to get ffgo shares from the market so that those prefered shares are received as divis or would a deal be made with nmgl (thus cutting out ffgo shareholders of the action) or cash equivaents paid out later on (still cutting out ffgo shareholders of the action)...
PD...just trying to get some answers on all this short cover specualtion...
but When will this squeeze happen???? is the question...now? later? record date? paydate? ex-date?? when? when? when? It ia not enough to say squeeeeeeeeeeze without anticipating when??????
-PD
roundmot, I came across the same DD...as you seem to have a grasp on the dividend stuff, I want to ask you a few questions as I am unfamiliar with trading patterns for dividend plays...typcially, does the shareprice adjust for the dividend close to the record date and then drop off after that (but before the pay-date) or does the shareprice hold up typically till the ex-date (after the pay-dayte) ...I am just trying to understand what the shareprice movements may look like for the timeframe that a 'special' dividend's (greater than 25%) important record/pay/ex-divi-dates approach... thx
-PD
I find the best way to watch for it is to watch the top 10 ticker volumes and compare with the top ten active boards and then compare it with shareprice upticks...When FFGO is ready to role, it will be the talk of pinkyland on top spot across the boards...when that happens, I would consider the play ready to rumble cause at that point a day or two of sharprice movement will make headlines across major newsfeeds/forums/stock trader sites/etc/etc... and then the rest is history cause the MM's will likely lose control of the shareprice.... ALL speculation of couse but these plays, when they're ready, tend to follow the same pattern... Regardless, we are very very close to gameday cause ffgo has been on top 10 boards for quite some time in terms of top volume and board activity...watch for the climb to numero uno spot for a few consecutive days and that should be a good indicator that things are primed...BTW, you are right, 2Billion is alot of volume, however, I would imagine that 2B bought on a chase vs 2B bought on a standoff are quite different outcomes...what I mean by that is since the 'news' hasnt been public knowledge yet, there is no urgency to chase the shareprice because higher valuations are mere speculation at this point...I thhing thats why the 2B hasn't done much damage to the SP yet...The SP reflects, to a degree, what the market perceives as its value...with the current shares outstanding, and no solid news out yet, the .0002 is what it is...however, when valuable news hits the boards and the divi dates approach, I would imagine that any volume near that 2B would be enough to get the shareprice to hit the fan!!! Right now, there is not enough 'substance' to justify a .0035 shareprice...however, once all the cards are on the table and things are approved for the dividend by finra, I would expect the current .0002 to be left in the dust in a heartbeat cause the new market value would be .0035 per share (value of the dividend)...Thats my take on it....could be wrong...but then again...thats why they call it speculating... GL! :)
-PD
Perhaps they will file after the sale execution is made public on the 12th???? It would be better for a stronger run into the record date if they stretched the divi dates til AFTER all the sale details are public, or maybe finra rules require them to do things in this order??? Who knows??? Regardless, I would imagine that the next few business days will reveal alot about FFGO and its legitimacy, illegitimacy, etc...
-PD... ready for the verdict either way cause this one needs to been wrapped up :)
Are you sure that the filling with finra is made public... I would thing that finra makes things public when a record-date,pay-date, ex-divi-date are all approved???? ...Doesnt matter anyways, whether next week or the following week, game-day is fast approaching...
-PD
smart money is Sloan and Sloan is wanting this divvy plain and simple...todays volume is nothing...sloan collected billions at .0035 per share of ffgo...what does that say about what smart money is doing... Wait til this thing gets really rolling with volume...it will move so fast that the 'one liners' wont be able to keep up with the speed of the Shareprice...
can't wait for pay-daaayyyyyyy $$$$$
PD...just having fun before gametime next week(s)
"over 7 years"
thats a very long time to be following this play... I will not comment further but suspect that it must have been a frustrating expereince...HOWEVER, they alway say that one should TRADE EM, NOT MARRY EM!!!! TRADE, ACCORDINGLY AND MONEY CAN INDEED BE MADE!!!!! rest is your individual choice of course...
-PD ...is ready for pay-daaaayyyyy $$$
the volume right now is nothing... IF Sloan jumps in when the details of the divi are annoucned, it will be absolutely crazy watching the MMs vs Sloan vs Retail vs Shorts vs Longs vs MOMO players vs Whoever else will want to get in on the ACTION....translation for FFGO PPS >>>>>> $$$$$$$$$$$
hold on tight!!!!!!! Shes about to expoooooooaaaade!!!! :)
-PD
perhaps the record date will be 'announced' on Aug 12th but the record date CANNOT be August 12th!!!! ...The dividend dates have yet to be released...Sheeze, I love how this board gets all the facts mixed up:0
I'm expecting Sale details tomo, Thursday, August 12th, after closing, with possible dividend details on Friday, August 13th...That may put a record date sometime next week with a paydate and ex-divi date shortly thereafter>>> but that is just a guess...just like the apparent "PR guy's [b[guess"!!!
One thing is for sure though>>>> the company has been very tight lipped with details of this deal... Hopefully, the news will be well worth all the suspense!!!! :)
-PD
We will find out everything soon enough :)
-PD
MOMENTUM BUILDING, L2 STACKING, FFGO UPDATE>>>
'River card' will be on the table soon enough...
Good luck to longs... I would hate to be the one chasing this monster when it runs :0
-PD
Dear Stockholder;
Fortress Financial Group, Inc. will be filing a detailed Form 8-K as promised on Thursday August 12, 2010 at 16:10 EST. The sale of our interests in both Bouse Gold, Inc. and in South Copperstone, Inc. is completed as announced. The Purchaser of these Gold Interests will be filing a Form 8-K at the same time. The web site will be updated on Friday August 13, 2010 to reflect the full details of the sale and to address all remaining questions that stockholders may have.
Sincerely yours;
Peter J. Bezzano
CHAIRMAN
LOL, sorry dude, that post of mine was actually directed to bobbybdb...but your opinion on the matter is certainly not alone... hence, the bipolar nature of this forum... I just happen to be on the other side of this 'nonsense' debate...whether that choice will be met with repercussion or reward is yet to be determined...five business days and counting!!!
-PD
Ok, makes sense...but lets say that the senario of a "cash NSS" plays out... If there is a forced cover in the market, at what point would you think that this cover would happen??? Before the record date (T-3) or after??? I would think that it would be at the same time that everyone else is trying to 'buy-in' for the divi since the holders of the NSS would be expecting thier divi payments??? THoughts?
-PD
Bobbybdb>>>> you mention:
"If cash, the shorts will have to cover on the pay date, if shares, they will just put markers in accounts and carry the dividend on shorted shares until those shares are in turn sold".
Lets say there will be a cash divi and the divi will be a 'special' divi... If that be the case, the ex-divi-date will be one business day after the pay-date since that is how it works for special divis..Also, 3 business days prior to the record-date will be the last date that investors can buy the stock and still be considered for the divi, however, they will also need to hold the shares until one day after the pay-date (til the ex-divi-date) in order to still be considered for the divi payment... What I am trying to understand is when to expect the volume and related share price surges??? A would think that there would a a volume surge and related SP spike three business days before the record date since everyone will be trying to get into the stock...However, since many will likely sell too early, I would think there would be a SP drop in the days following the 'buy-in' date ...however, you are suggesting a potential short cover on the actual pay-date??? Would that mean that the SP may spike twice (once before the record date, and once on the pay-date)...What I am confused about is why there would not be a 'short cover' before the actual pay-date like at the 'buy-in' date (T-3) before the record date...That way, those short would get the divi on all shares bought in market while being eligible for the divi payout and covering at the same time??? Very confusing stuff, but would like to hear your take as you believe there will be a short cover (as do many others)... Simply put, if there will be a short cover, exactly when would it happen ??? (if you are not sure, all good:)
-PD
Diddo, I'm done with the speculating as well...far too taxing!!...Can't wait for FFGO to put out the details of the sale execution on the 12th!!! The related special divi 'record-date', 'pay-date', 'ex-divi-date' could be announced anytime before, during, or after the 12th... Regardless, we are now FINALLY in the language of mere days !!! :)
-PD
and sloan gets a much lower tax bracket for the dividends...that alone ensures that they will more than break even when the loan notes are paid to the loan note holders whom gave Sloan these 'off the market' shares... For such large amounts, a lower tax bracket would be worth tax savings of millions...
-PD
K, makes sense... GL
-PD
Hey Briantek, you mentioned..."say we close at .0005 3 days B4 the Record Date... .0005 + 25% is NOT near the .003449 dividend..."
I am a bit confused about this so if you dont mind explaining a bit further??? I do not think that the '25%' of the security value would be considering the market cap so close to the record date as you mentioned??? Otherwise, how could finra possibly fix the record-date/pay-date/ex-date in advance??? I think the value of the company (in terms of market cap) is only considered at the point when the company files with finra, otherwise, the changing shareprice would make it difficult to determine the company's value to determine whether the dividend is above or below the %25 percent stipulation...That being said, I think the current .0001 x 75B shares is what will be used and since the dividend is at approx .0035 per share, that is obviously higher than the 25%, therefore, classifying the dividend as 'special'... Thoughts?
Hey V, I don't have PM capabilities so will reply to your query this way... The way I understand things now, your broker is correct only if the dividend is a normal dividend as specified by paragraph 1 from the finra link that I copied to my recent post (post: 147825):
Para 1 from that finra link is as followed:
(1) In respect to cash dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which are less than 25% of the value of the subject security, if the definitive information is received sufficiently in advance of the record date, the date designated as the "ex-dividend date" shall be the second business day preceding the record date if the record date falls on a business day, or the third business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date.
The thing that wasn't making sense before now makes sense, in that, this apparent dividend is NOT a normal dividend but rather a 'special' dividend for the reasons that I mentioned in the same post (147825).
In short, what your broker has likely done is overlook that fact that this coming dividend will be a special dividend rather than a normal dividend since the dividend value is more than 25% of the distributing security's total value. To be clear, I think that our ffgo dividend will follow the guidelines of paragraph 2 and not paragraph 1.
Once again, Para 2 from that finra link is as followed:
(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.
Based on what I have gathered from the above DD, the record date and pay-date will be announced by the company on the dividend declaration date... Once that is done, we will have a record date and a pay-date...Because this will be a special dividend, the ex-dividend date will be one business day AFTER the pay-date and not two-business days before the record date...If you think about it, it does make sense: Normal dividends have the ex-date two days prior to the record date, which puts the day before the record date as three business days before the record date. Since it normally takes 3 business days to settle bought shares, one would have to buy three business days prior to the record date to be on the list as of the record date. As your brokers rep mentioned, that last date to 'buy-in' is also conveniently one day before the ex-date...In the context of a normal dividend, one can theoretically buy one day before the ex-date and sell on the ex-date to still be on record for the normal dividend...HOWEVER, this is where the tricky part is!!!! We are not talking about a NORMAL dividend! because it is considered special, the ex-date is then allocated based on the criteria of paragraph 2 and not paragraph 1...therefore, in our case, the ex-date is one day AFTER the actual PAY-DATE...because shareholders will need to still be on record as of the RECORD DATE, they will still need to 'buy-in' three business days before this record date, just like a normal dividend...BUUUUUUT, the catch is that you CANNOT SELL your shares UNTIL after the PAY-DAY (on the ex-date)for special divis while you can sell as early as one day after buying the actual shares for normal divis because the ex-dates are set 2 business days prior to record dates for normal divis... What all this means is that one will NEED TO BUY three days BEFORE the RECORD DATE and HOLD ALL THE WAY THROUGH THE RECORD DATE AND PAY-DATE UNTIL ONE BUSINESS DAY AFTER THE PAY-DAY (which is the ex-date for special divis):>>>> !!!!
As all this stuff is very confusing, I am sure that many will be confused...but I thought of posting what I figured out so that many of the longs that have waited for this divi for so long do not miss out on collecting their earning simply because they sold their shares TOO EARLY!!! GL
-PD
Special or Significant Dividend Payments...Wikipedia Explanation
http://en.wikipedia.org/wiki/Ex-dividend_date
The amount of the Dividend is declared Special or Significant in relation to the stock price. For this reason the ex-dividend date is set one stock trading day after the payment date. The stock will trade on an ex-distribution basis, adjusted for the amount of the dividend paid one trading day after the payment date. The determining factor for a Special or Significant Dividend is usually when the dividend is 20% or greater in relation to the underlying price of the stock/security.
To be entitled to a Special or Significant Dividend you need to be a stockholder on the Record Date. To be a stockholder on the Record Date your purchase would have needed to be made a minimum of three stock trading days prior to the Date of Record or Record Date.
In the case of Special or Significant Dividends, the stock trades without the dividend from the Record Date, thru the Payment Date, then adjust for the dividend paid and starts trading on an ex-distribution basis one stock trading day after the Payment Date. To be entitled to receive the dividend, it is required that you be a stockholder on the Record Date and hold your stock thru the Payment Date to receive the dividend. When a Special or Significant Dividend is being paid selling your stock between the Record Date and Payment Date relinquishes your right to the dividend.
The earliest you can sell your stock and still be entitled to the Special or Significant Dividend is one day after the Payment Date, or the date the stock begins trading on an ex-distribution basis.
Special or Significant Dividend Payments...FINRA Explanation
http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=4450&element_id=3772&highlight=dividends#r445
(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.
In a nutshell
Once the company announces the record date and pay-date, we will need to be in the stock three business days prior to the record date in order to be shareholders on record (takes 3 business days to settle shares) AND HOLD all the way through the pay-date until at least one business day AFTER the pay-date, which becomes the EX-Dividend date if one wants the dividend as this upcoming dividend is categorically considered a 'Special' dividend based on its high value compared to the security that is offering it... Unless, there are any mistakes, you can sticky post this one V...arguement closed, trade accordingly...GLTA! :)
-PD
LOL, hey V! I see you read my mind as I posted the same dividend inquiry in the post immediately before you!!:) I'm still not sure when this ex-dividend date would be...
DIVIDEND CONFUSION???!!!!!!!
"...This revised agreement allows us to execute the Sales Agreements on August 12, 2010 with the receipt of the sale proceeds being on Monday, August 16, 2010..."
That Thursday (Aug 12th) ...through the Friday..,and weekend...through Monday (Aug 16th) will be very exciting to watch the shareprice and volume !!! Still not sure about when the darn ex-divident date would be but I beleive the pay-date will be set for Aug 16th since that is the day the proceeds settle into company accounts... I sure hope they are very very clear about all this record date/pay date/ex-dividend date stuff when they post details of this upcoming dividend on the website (once finra gives their blessings of course:)...
This is what FINRA says:
http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=4450&element_id=3772&highlight=dividends#r4450
(1) In respect to cash dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which are less than 25% of the value of the subject security, if the definitive information is received sufficiently in advance of the record date, the date designated as the "ex-dividend date" shall be the second business day preceding the record date if the record date falls on a business day, or the third business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date.
(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.
(3) In respect to stock dividends and/or splits relating to American Depository Receipts (ADRs) and foreign securities, the ex-dividend or ex-warrants date shall be designated by the Committee.
Sooooooooooooooo, anyone know which of the above rules will aplly to ffgo??? Para 1 or Para 2... They each have different implications for a potential EX-Record date so I would think this would be important to figure out..For example, when would be the ex-date if the record date is lets say Aug 16th???? I sure hope that ffgo makes all this clear closer to...
very true, it happens when it happens... I will have the 'trigger finger' ready regardless... I have a trip planned for early August... It might just turn out that the 'trigger' will need to be pulled while on vaca...since PD's been pulling triggers in his sleep for months, I suppose the actual setting won't really matter anyways!!! :)
-PD (entertaining the possibilities of payday....
Yes, that is Sloans terms for financing...however, their terms give strict deadlines for when the sale needs to be executed (Aug 6th) and proceeds settled into ffgo's account (Aug 12th) in order for Sloan to get their finance money back by Aug 13th. Did ffgo not say that they would not be saying anything until the final sale is executed and the record dates are filed with finra??? If that be true, then What reason does the company have to execute the sale prior to Aug 6th when that is the deadline that is given to them??? What I am trying to understand is why some ppl are expecting news this week from the company when they clearly have till next week to deliver concrete news about 'execution' of the sale...
-PD
I do not beleive that this is accurate... It says that the sale needs to be executed by Aug 6th and the proceeds need to be in the company's account by Aug 12th so that the big SH (Sloan) can get their short term loan money back by Aug 13th...That only means that Sloan will get a direct cut out of the Aug 12th settled proceeds on Aug 13th, however, has nothing to do with the actual dividends that will be released to the shareholders (of which Sloan will also get a cut of since they hold shares in the company as well)...However, since the Aug 6th date is a deadline for the execution of the sale, the company can immediately set a record/paydate with finra on that date (but the minimum time lagg will be 10 days for the reasons you guys are saying)...And since the proceeds will be in the company's account by no later than Aug 12th, the dividend payment amount will be ready well in advance of this 10 day window...All in all, if they wait for the Aug 6th deadline, I see the record date being set for 10 days after that, which would make it Monday, August 16th....Naturally, things would be sooner if they execute the sale sooner but they seem to have room to stretch things well into August with the deadlines that Sloan has stipulated. Thoughts? Opinions are all welcome as I could be wrong...
-PD
Why do yoy guys think the divid announcements should be this week for the dates to work??? I had the impression that the announcement cannot happen until the sale is executed and dates are run through finra (which makes end of next week the likely execution/announcement date being as next Friday is August 6th)???
-PD
"he was in the Carribean with his Yacht and bragging it up while shareholders got screwed"
...and what exactly was he bragging about??? about the shareholders getting screwed or about being on a yatch in the carribean...If it was about the yatch, I'd be braggin too:)... that doesn't mean anything about hglc being a scam does it...it just means that lumb is arrogant...
-PD
Potential scenario:
Lets say that the stipulated deadlines get fully utilized... that is, the sale execution doesn't happen till August 6th...they said that they would immediately file for a record date from finra upon final signage of the executed sale...Doesn't finra require 10 day notice before any set record dates? If so, add 10 days to the 6th and we arrive at Monday, Aug 16th as a potential record date...or is that a potential pay date??? (LOL, still confused about that one :p ...regardless, by that time, the sale proceeds should be in the company's hands...in fact, the sale proceeds from the executed sale would have to be in ffgo's hands by Aug 12th in order to meet Sloans August 13th deadline for repayment of short term loans ...Sloans August 31st repayment of long term loans would naturally be doable if the Aug 13th loans get paid...It would make sense to file with finra immediately upon execution of the sale (ie. on or before Aug 6th) so that the 10 day window that finra needs does not get delayed...Since, August 12th is the deadline that Sloan has given to have the proceeds in ffgo's hands, that leaves six days between execution of sale and settlement of proceeds...all in all, if they file with finra right away, the proceeds will be ready for distribution as an'extraordinary dividend' well in advance of a potential pay date... There is a very strong possibility that these 'proceeds' are in cash as it doesnt make sense otherwise how they can have proceeds settlement by the 12th of august and expect to payback sloan by the next business day, Aug 13th??? If it were in anything but cash, I just don't see how this whole thing would work??? Folks, regardless, it looks like August will be full of alot of updates and activity...as long as there's no delays, the 'river' card will finally be dropped after all !!! $$$ !!!
PD (just thinkin outloud while stacking his chips b4 final round of bets:)