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We'll find out in the 10q based on inventory if there was any mining done.
They're planning shipments this quarter. So I don't know how they could do that unless they're mining.
Those form 4's were almost certainly shares in lieu of salaries. I outlined last year's filings last night and how it all lined up.
Hear, hear.
If they get a mill up and running, I think the company will be swimmingly successful. Other than the pps, I don't see any indication that they have any intention not to complete the mill. All signs point to it as the number one priority. Let's cross our fingers for some better financing options.
Don't know. We'll see where they stand in the 10Q. They owed $50k... seems like there should have been more than enough cash going around to fulfill the rest of it.
Maybe it's already dog eared for something... but, I don't see how they're going to be able to exercise both the Tangiers and Tonaquint SPA's, plus other possible SPA's, with the current SS given the price.
As far as the Form 4's go, I don't think they paid for them. They accepted them in lieu of money. It's not as big a deal as some thought (edit: including myself).
From the filings:
Form 4 filed on March 14, 2013 for Don acquiring 2,587,143 shares. From the 10Q for that quarter:
"On February 28, 2013, the Company issued 2,857,143 restricted shares of common stock to LTV International Holdings in lieu of
cash for consulting fees that had been accrued as compensation for services. Mr. Don Nicholson is the designated service provider
under the agreement with LTV."
Form 4 filed on March 13, 2013 for Bob acquiring 3,015,625 shares. From the 10Q:
"On March 4, 2013, the Company issued 3,015,625 restricted shares of common stock to Robert Reynolds, VP of Operations, in lieu of
cash for consulting fees that had been accrued as compensation for his services."
Form 4 filed on May 10, 2013 for Mario acquiring 2,959,897 shares:
From the 10Q:
"On March 5, 2013, the Company issued 2,969,700 restricted shares of common stock to Mario Beckles, CFO, in lieu of cash for
consulting fees that had remained accrued as compensation for his services."
Hear, hear.
My concerns right now have to do with financing. I don't see them getting where they need to be without a r/s or increase in AS. The shipments they're putting together, I just hope that wasn't a contingency plan and that they have net positive way to sell it. In reality, though, I'm fine with them just liquidating inventory.
I think the Tangiers SPA, which is available to us in the 12/26/2012 10q filing, is not something that is ever going to be executed. This was put together a year before Murdock was in the picture. It appears to have been revised in 2013, but again that was before Murdock.
I'm more interested in the PR from Feb 27, 2014 (partial below).
Tonaquint did their due diligence and chose to invest at $0.03. Exercising the remaining $1M of that SPA is the key for us shareholders. It could be that they need to achieve certain milestones to get more money. I'm expecting the agreement to be included in the upcoming 10q.
They're burning through a lot of money. Give us some damn clue as to what the hell is going on!!!
"In a written statement, First Liberty CEO Don Nicholson detailed the terms of the agreement. "Tonaquint has recently completed the purchase of $100,000 of FLPC common stock. This transaction is part of a larger commitment from Tonaquint to purchase, at market price, additional restricted common stock to help meet First Liberty's capital needs as it enters into its next phase of growth and development for its mining and milling plans. This initial purchase was completed at $.03 per share, and the parties are anticipating additional investments to $1,000,000."
Tonaquint is an experienced investor in the securities of companies at their earlier stages of development. The Tonaquint group possesses extensive knowledge and experience in evaluating the merits and risks of such investments and has fully evaluated First Liberty Power through a due diligence process that included the review of documents provided by the Company."
Is it possible that the discrepancy between the increase in OS and float last week and the weekly volume could be rearing it's ugly head this week? Could the May 9 convertible have been paid in unrestricted shares which are being dumped on the market this week?
It's all very promising. Nobody likes to see. Their investment fall as much as we have seen here, but there is a difference between a sell off and dilution. We have seen both, IMO, but the company can regain confidences once we start seeing progress.
There is something cooking, I do not doubt that. They seem to be evolving their strategy and IMO thinks look better albeit the time lines are changed. Between the lull waiting for the trial shipment and the game change resulting from the addition of Arabia, what else could be expected at this point?
I'm confident in the company. My only regret is getting in so early. The COO suggested updates and an enhanced business plan will be available this month. I'm waiting for that. I will reevaluate everything once the 10q comes out.
That being said, I don't think they are going to dilute us into the pinks, as I've said before. They pretty much control that play, as there does not appear to be much selling going on other than the company.
I think that the only problem with the company is the dilution. I'm confident they're working on something promising, I just wish they would find a better source of cash flow.
This is down this low because the company is taking it down this low. I do not think it is their intention to get bumped down to the pink sheets.
Y'all gotta bust 3 cents.
Good luck guys.
Our COO needs to give us an update about those advancements and an enhanced business plan. We should hear from them this month.
Unrestricted shares being issued?
The angst is because of the pps. When we get our reversal, everybody will be onboard.
The company is clearly moving forward and we're getting closer and closer to seeing significant revenues. I'm not sure what people are looking for from the company, communication has improved dramatically over the last few weeks.
It's a nice bet for a penny and no one will change my mind. You're not telling me they're worth less now than they were 6 months ago. I want to see how this plays out and am still very excited.
Patience patience patience.
Now you guys are getting somewhere. Best video yet for you guys.
I got back in a couple days ago, a little higher than I wanted to, though much lower than where I sold. Without significant developments after the launch, it was stupid to hold onto this thing, quite frankly.
For what it's worth, here are my thoughts:
My biggest beef with them in the past was that I felt they were a little misleading. I still think they are in some ways. They do, however, seem like they have been trying to do a better job managing expectations.
You really need to take the $105M in contracts with a grain of salt. She referenced that they face similar challenges internationally that they do domestically and that there is still a lot of work to do. You might get some Brazil distribution this year, but realize at $40M over 5 years, that's $8M per year. It's not likely this thing is going to ramp up that fast.
Costco is huge, though I would bet it's just going to be in a handful of test stores. Great accomplishment, however. If it does well, Costco can lead to a lot of really great things.
I'm concerned that they seem to be concerned with running out of stock and getting their shipment, yet we are supposed to believe that there are going to be 2 containers a month heading to Brazil in a few weeks. Get it fixed.
Lastly, how long will it take them to come to the realization that they need to drop their price? What do you think Costco got their price down to?
I like the FLPC logo, but that tie Bob on is a little too much. Makes him stand out though and is an interesting conversation starter I assume.
That's good stuff.
Can't watch, I'll be interested to hear any info relevant to FLPC.
Not that it means much, but American Bulls did flip FLPC to a buy a couple days ago. They categorize the current trend as a "bearish evening star," however. I don't agree with that. Seems like there is nice support at or above last Friday's gains.
Dilution will kill that, however.
Well, a lot of the selling the last few months was dilution, we all know that. Some of the numbers are very interesting if you ask me. Several weeks where dilution made up more than half of the total volume... Obviously why we are where we are, but it also tells me that there are not too many people willing to sell.
We need buyers. Funny to me that buyers show up when the company is dumping. I don't think that is a coincidence.
In my opinion, we are going to be getting some great news in the near future. I'm looking for 1) details about how they plan on funding the mill including additional funding from Tonoquant or potentially from another investor. Tangier's is out of the picture IMO. Bob hinted in an email that they are continuously looking for alternative funding (I posted that email), and 2) an application for up listing. Number 2 is a little optimistic, but they mentioned the new OTC requirements a few times and attended the conference last month. Not only did the changes put a 1 cent min on the QB exchange, but it also streamlined the process for up listing. I doubt they would be talking that much about it if they intended to be sent to the pinks or keep the status quo. Just my opinion.
Once the correction happens, we know this thing can move a penny in just a couple of days. Let's cross that middle BB and then see what happens.
Volume really sucks.
Didn't see an 8k, that's why I'm asking.
I just want to clarify, Dr. Johnston is not on the BOD, correct?
This company isn't for everybody. If your not excited, maybe it's not for you. Obviously, we have issues with the O/S, but I assure you, that has been brutally accounted for in the pps.
It's simple Pitt.
Investors are a little gun shy until they get a better signal that dilution is over. Is it over? We don't know. Seems like they're planning revenues in the near future to at least reduce the dilution. The form 4's are also a good sign.
When you're talking about such a small number of trades yesterday, you can't really read too much into it. Stop trolling.
Also, how nice to hear from the company so often. Not many people calling for Murdock's heads these days. Remember, Murdock's symposium is on Thursday.
Could be a good week brewing for us.
We're going to hit a tipping point when we start seeing progress made as a result of these acquisition. They are obviously very confident and comfortable with our little mining company's future.
It's only a matter of time before investors start stumbling onto us.
I'm just tired of excuses. They blamed the conflict for delaying their shipment... What an easy out... Too easy. Those kind of things bother me.
I understand that the product is good, but how can you honestly buy into their $105M contracts when we know nothing about them?
So then it's a problem that the product is coming from an unstable part of the world.
Assuming the international contracts actually happen. It seems the company is already making excuses and blaming the Russia/Ukraine crisis, per an investors convo with the company. Odd to me, because Armenia doesn't border either country. So it's either a real issue or it's an excuse.
If that is an issue, it's not going away... Something to think about.
If they leave us alone with respect to dilution, I fully expect this to climb to around 0.025-0.035 by the end of June, conditional upon getting news of additional shipments and good numbers in the 10Q regarding our trial shipment. We were pretty solid in the 0.02's before we got beat up with all the shares coming off of restriction and dilution.
With some hard details about the mill and a nice looking timeline, I can see this creeping back up to the highs. I don't see those as sustainable prices until they can demonstrate a consistent stream of revenues.
And then there is this, which was not at all priced into the pps back in November. Below is exert from the press release made by RenGold.
Richard Bedell President and CEO of RenGold comments: “This agreement is a little different than our typical earn-in to joint venture. Because FLPC wants to go into production soon and bypass a standard bankable feasibility study, we have made a sale conditional to payments and a NSR. We like the diversification of having a potential small scale mining operation in our portfolio, because if successful it can provide income in the near term. With the low burn rate and tight share structure of RenGold this could be very meaningful. The project has significant upside potential to be much larger than is currently obvious."
http://finance.yahoo.com/news/renaissance-announces-purchase-agreement-first-110000015.html
There's a lot in there to suggest that this is something that they want to get up and running quickly. So, over the next 6 months we should be hearing a lot of news about progress toward the mill and Arabia. Who knows... we can blow the lid of last years highs.
I caught your last post. We are not represented by any cats that wear helmets.
FLPC actually has a lot of potential and a really bright future.
Feels different around these parts to me.
I'm keeping my eyes and ears open. If it goes much lower I might be tempted to get back in. That doesn't mean I believe everything they say. They've been pretty misleading if you ask me.
And I'll take sales over awards any day. Your average vodka drinker doesn't care about awards or Vogue. They care about price.
There's a lot of uncertainty about the $105M.
The number is a projection at best. What happens if Marani explodes in Brazil? Will the revenue only be $40M. Similarly, and more likely based on its performance in the US, what happens if Marani doesn't sell well in Brazil? Won't the revenues be much lower then $40M?
$40M is most likely a back of the envelope calculation that is based on bad assumptions concerning volume and frequency, with one of those bad assumptions being that shipments would start in Q1 of this year. Demand was so big in the US that they had to delay the Brazil shipment, remember? So, apparently, one online retailer out of CA is better than the Brazil contract. I'd be a little worried about that $40M if I were invested at the moment.
It's a pump on the Brazil shipment and then a dump... just like the license.
It's sad to see them squander such a "drinkable" product.
If you want to trade this stock on charts, god bless you, cause you might be right, but...
It doesn't concern any of you "longs" that they have more international contracts with countries than they have stores in CA carrying their product?
Thanks!
Can anyone give me an example of a company that up listed from QB to QX? I've never seen an uplist before.