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I read the PR like 3 times now... There is alot of emphasis on the coming weeks... Sure hope something good happens with the share price! I have been tryin to guess what this AP could be but other than wild guesses, I cant really think of anything (reverse merger? alternative buyout (cash or shares), (reverse split is luckily crossed off, contrary to 'popular' beleif), etc.
-PD
Hey V! I like your energy! And agree that things may very well heat up pretty fast...
this week has seen some good volume, BUT, these coming weeks will really tell us how serious FFGO is about their commitments...
They have made ALOT of promises but less follow through than needed...They claim that things will benefit 'the shareholders' no matter what: Either via 'Original Deal' or via 'Alternative Deal' ...While I'm supportive, patient, and hopeful, I am suspect all at the same time!! (I think many investors would attest to this)...
HOWEVER, IF THERE IS FINALLY A TANGIBLE REWARD,THEN, FFGO WILL DESERVE MAJOR KUDDOS FROM EVERYONE HERE!!!
Fingers Crossed to a potentially exciting and perhaps 'final fortnight' to this longstanding FFGO SAGA!! :)!!!
-PD
There are no legal, regulatory nor audit "Obstacles" to be overcome at this juncture, and to over come in order to immediately temporarily consummate upon and remove thus this temporary impasse..
This is talking about the alternative proposal but what the heck does it mean???
-PD (lol, had to fix the grammer!:)
thanks for that tex... cant wait!
-PD
shhhhhhhhhh! dont spoil the plot!!
-PD (ready for fireworks!
I agree with you that big OS plays can still run hard...there are countless examples of that...one you already mentioned... but that's what Im saying...the MM need to take their foot of the brakes for this to run...what scenario would allow that to happen? If there is a short cover, I would think that some MM will be wanting to 'cover' low rather than high... With the huge volumes, the MM's on this one seem to have quite a bit of control on this one because otherwise the pps should be parabolic within days... Suppose the nxt few days will be telling enough whether they want this to run or not...I would presume with a 'short squeeze' the demand typically outweighs the supply of available shares and essentially takes the play outta the stratosphere....
Note, as I have admitted already, I am not 100% of shorting and so could be completely off logic here but thats my take...
-PD
Nice! but the only thing with that chart is the volume pattern differences...In that, while the one you mentioned moved hard on volumes of 1-2Billion shares/day , this one hit 2B today and barely flinched?!! It will take very heavy consistent volume or at least a tangible 'reward' that either revalues the play and/or forces a demand for shares even at rising prices... Any thoughts?
-PD
I am understanding this short thing a bit more but must admit that I have been lazy on the topic and really havent done background homework yet...However, can you put in layman's terms regarding a potenially large Naked short position...there is mention that the shorters can still cover easily ..but what if there are actually alot of naked shorted shares in addition to the legal short shares...will they not ALL have to cover ? If ffgo drops the 'hammer' all at once, and shorters are forced to all cover at once, is it not safe to assume that the actual available shares are no way close to what is needed, hence forcing a huge short squeeze???!!
-PD
It's irreparable 'damage'... the grammer is crappy and there are fat finger typos...other than that the take home message is simple...its pay time!
-PD
sounds like check mate!!
-PD
If you read the wording in the new releases and correlate to what Bezzano mentioned about having a 'contingency plan' in place for the 'short sellers', the 'alternative plan' may very well force the 'mother of all covers' and PUSH this thing out of orbit waaaaaaay past .003 !!!...Clearly, they have something up their sleeve that they have been 'planning' for quite some time...if it means a higher share price, then by all means GO FFGO GO!!!
-PD
Good trades to you too!
-PD
Pris, could u clear up some confusion on my end: In regards to the large AS, how does it relate as a defence against a potentially huge short position?
-PD
-FFGO planned for the debit card project but dissolved it (good thing because the financial market looks bleak!)
-FFGO planned for the uranium project but dissolved it (good thing because the uranium market looks bleak!)
-FFGO held shares in Hunt Gold under the plan of 'investing' in a gold mining company (Unfortunately, that dissolved as hunt gold ran into SEC problems due to past shell regulatory troubles)
-FFGO holds 2 mining claims in Bouse and Copperstone (Good thing because the GOLD market does not look bleak!)...
Currently, the company is 'in transition' to sell these claims and give ALL profits to shareholders...What you mention about it not being 'a viable' business is not very relevant here because everyone here knows that the ONLY thing that will bring value to this play is the CLOSING of this PENDING DEAL!... What part of this is sooooooooooooo hard for many to understand? There is daily rant and comment about SEC halts, SOS updates, and on and on... and for what? I don't see the SEC doing anything about this play, nor do I see LONG TERM investors 'running for the hills'... At this point, it is ENTIRELY a waste of time, effort, and energy to speculate here... I THINK THE COMPANY SHOULD REMAIN QUIET UNTIL SUCH TIME AS THIS DEAL IS DONE!! THIS DAILY 'TUG-OF-WAR' IS GETTING REDICULOUS!! I will be back when this thing gets REVALUED!! UNTIL THEN, PEACE OUT! (GLTA!:)
-PD
Hey tex, any word from Bezzano as of late? He's been MIA for a while...no big deal though as the silence is a bit of fresh air around these parts...I just hope to one day wake up with a baaaAAM! Deal DONE! When that happens, there will be nothing stopping this monster from rocketing past .005 at the very least!!!$$$$$
-PD
If I get in, my buy price will be much lower than .0005, watch and learn...BTW, If your remark was directed towards me, I find it amusing at best..Good luck!
-PD
why is this thing even at .0005?
-PD
Thats what I find very odd...why are the MM's not putting downward pressure??? To stimulate higher volume, usually the MM's drop the price...clearly the current price is considered too high as the volume reflect no demand...
-PD
im surprised that it is holding at .0004..it really has no reason to... suppose no one wants to sell so low..but then again, judging by the low volume, no one really wants to buy either... What I don't understand is why MM's arent dropping the price to at least stimulate higher volume buys??? Anyone have thoughts on that?
-PD
LOL, I thought some might appreciate that one:)
-PD
Like I said, I really do not know much about the shorting stuff...Just giving you the link to where the shorted number was coming from... Perhaps others can better aid with this one..
-PD
someone recently posted something in regards to that... As I am quite unfamiliar with 'shorting' I will not comment much on it...
-PD
no doubt pris, a mix of cocktail is indeed underway....
Of course the time spent here has not been without frustration, doubt, excitement, hope, let down, etc. but I think that is what happens when one does not have certainty as to what is going to happen...Emotions are funny that way!
I stopped trying to predict this play for the longest time, However, as of late, I have been really trying to take an objective look at this one and ALOT of elements are leading me to think that this thing may actually work out well... I have had quite a serious, professional and ongoing correspondence with Bezzano, and have reached a conclusion that he is quite credible to get this thing done... Reading a response from Bauman certainly does help as well... Lumbs words from waaaaay back are indeed making more sense as of late (if deal is done, we will get our 'loot' I always wondered why he was being so 'generous'..that there must be more to it...my recent post shows that retail is getting only 7% or so of the deal money and 'they' are clearing 93% of the deal money!!! So lumb may give us the 'loot' but he and friends will surely get the motherload vault:)
...and this recent string of 'shorty' talk is becoming more and more interesting as well...Bezzano did indicate that 'shorty' is somehow 'worked into the contingency plans'...It will be interesting to see how this play ends up, but an end seems to be near either way...lets just hope we walk away a few bucks heavier :)
-PD
This one is headed straight to .0001 ...I like the company and their ideas but by the time they get things together this baby will hit .0001 with a THUD!!
-PD
We need to understand that deals like this do not happen over units of 'days' or 'months', they happen over much longer units like 'quarters' or 'years' ....we were notifed of this 'deal' in NOVEMBER and if this thing closes up by APRIL, that would not be too shabby!!! Dont forget the delays may be to make sure that gold prices are favorable again as we did have a retrace...I do not think it was a coincidence that 'the deal' was announced just around the EXACT time when GOLD BROKE THROUGH 1200/oz ??!!!! Hmmmmmmmmmmmmmmmmmm
-PD
Tex, (or anyone else...Here's something to enjoy from PD...
Has anyone done a value crunch (guess cruch) on what these properties are apparently worth? (aside from 'zero':)
...WELL, I was thinkin about this deal this morn and heres how this think this thing breaks down...
Lets say for arguements sake we focus on 'bouse':
FFGO has 23%,
Searchlight has 10%
3rd party (probably LUMB) has 23%
historic divi holders have 46%
Ok, so for FFGO to ask minimum $100M for their portion because the 'buyer' still needs to buy the remaining portions, the buyer will need to fork out approx $430M!! for 100% ownership!! This amount will be divided into the above noted percentages.
then, I was thinkin about us we bit 'retail guys' and wondering why so much of this potential deal amount is going to the we little guy' ...CONCLUSION, THAT IS NOT THE CASE AT ALL!!...here's the likely breakdown:
We know that 90% of the ffgo stock is held by 'them'...With a 36B OS , that leaves 4B for 'us' and 32B for 'them'...Ok, now with a 100M deal into 36B shares, that gives .0027 divi ...lets say the remaining holders get the same amount pitched to them so that the bidder takes 100% of claims... Lets also aay that the same ratios of 'retail vs insiders' applies to historic divi holders....
Basically, of the above noted percent breakdowns, the retail guys (us!) are entitled to 10% of ffgo's remaining 23% portion and 10% of historic divi holder's 46% portion...
Sooooooooo, all in all 'retail' will get about 7% of this 'deal' money, 'insiders' will get 83% of this 'deal' money, and 'searchlight' will get 10% of this 'deal' money ...
NOWWWWWWW, here is my pitch on ALL this: IF this 'deal' is on, since the 'retail guy' ONLY has 7% skin in this GAME, whether the FINAL deal amount is CASH vs SHARES has ABSOLUTELY NOTHING to do with the RETAIL GUY!!! DOES THAT MAKE ANY SENSE TO ANYONE?!!!
Let me rephrase that just for fun:) Whether this deal is going to be a CASH deal or a STOCK deal will depend ENTIRELY on what SEARCHLIGHT and FFGO INSIDERS want it to be... Since they are the controlling beneficiaries to this deals closing, I personally beleive that this deal is going through 100% and it will be CASH because that will likely be the SOLE reason behind 'why' these guys want this deal done soooooooooo badly... I dont care HOW rich these guys claim they are, if they are taking 93% of a potential 430 Million dollar deal, then that explains ALOT of questions about 'why' they seem sooooooo darn motivated to keep this thing churning along...and if someone really thinks that this whole thing is to 'shear sheepy', then they really need to start thinkin 'outside the box' on this one! No, my friends, something actually may be on the up and up with this one and it sure has me thinkin and curious if not excited!!! GL!
-PD
and how exactly did he screw up this company? Last I checked, he's doing quite the contrary...
-PD
Priz,
From the reasonable OS and As, report filing, and recent transactions, it seems that this NMGL is the HGLC that should have been...BUT More polished, less dilution, better execution...Too bad hglc had a shady shell cause I think that one could have worked out well but the legalities from the SEC just killed it...It sounds like they are trying to be more careful this time around with NMGL...Curous though...is this one going to be public or private??? and does anyone actually have shares here or is no MM assigned yet?? If ffgo gives a solid payday, that really means that hglc was a mishap...however, if no ffgo either, then this one is obviously set up for the same outcomes...
-PD
I would atribute that to the 'cap' on everyones post limit (well, almost everyone:)
-PD
Tex, , the tweet about Pete coming back to work was a relief...Lol,.I thought for a second that he abandoned ship! (no tweets for sat or sun at all, no return on emails...Just poof, and he was gone! Nearly had a heart attack:)
-PD
thats my stance too, let er ride...lets just see what happens!!
-PD
The numbers sound logical but dont forget that the mystery 'bidder' will also need to buyout each of the bouse and copperstone historic divi holders (40-45% holders) and also the 25% or so that the 3rd party now holds from ffgo's bouse share... I doubt search light will give up thier 10% shares... All in all, the deal needs to be favorable enough for the bidder to actually get a strong ROI. I think that the 100M to ffgo is realistic as that means another 100M to the 3rd party ...and maybe about 300M for the historic holders.. If 100M goes to ffgo, the divi will be nothing near the numbers you have here, but rather .0030 - .0040 ...But then again, my numbers are just shootin in the dark...much like the speculating going around these days:)
-PD
Yes, alot of mystery and unknowns! Alot of odd pieces in this jagged puzzle BUT at this point it is just a 'wait and see' game that seems to be going on since the company came back to 'life' in Nov 09...How long till something else 'happens'??? FOREVER? NEVER? EVER???
-PD
Question to the board:
How can the following things possibly be done without a CASH buyout for the mining properties??? Just have a hunch that a cash divi may be on the table here...If so, it sure would explain ALOT of things... (A CASH handout makes sense if lumb is only on the seller side of the equation)...think about it, who has the most to gain for a cash handout? Who is controlling shareholder(s)? Would the majority shareholders want shares or cash? IF not cash, how are they going to pay off the loans note holders? How are they going to pay for the following items on their 'to do' list? The only tangible thing would be a CASH divi...could be wrong, but would not be surprised to find such an announcment come outta nowhere...:)
-PD
______________________________________________
Nov 09 8K:
"...The Company has two remaining assets, namely it interests in the “Bouse” and “South Copperstone” Gold Exploration properties.
Management of the Company is now actively seeking a buyer for these two Gold Exploration Properties, which if successfully concluded, could result in:
- The settlement of the historical and outstanding Stock Dividends; and
- Create a liquid trading environment for stockholders to trade in their shares of the Company’s Common Stock; and
- Realize a very significant financial gain for the Company making the Company an extremely attractive take –over target; and
- Allow Management to remunerate its professional advisors in order for them to complete the Company’s outstanding filings to make the Company current in its reporting; and
- Apply for reinstatement to the OTC Bulletin Board Market once it was current in its filings; and
- Raise additional cash through traditional methods which it is currently precluded from doing so due to it being delinquent in its filings; and
- Provide funds to facilitate the creation of a Corporate web site and to retain Investor Relations Consultants to interact with Company stockholders; and
- Could facilitate the payment of a large extraordinary Dividend to the Company’s stockholders.
These above-mentioned objectives by the Company’s Management will not be possible should the Company fail to secure to buyer for its interests in either the “Bouse” or the “South Copperstone” Gold Exploration Properties..."
this PR is just to tell old cert holder to exchange for new updated certs... nothing to do with deal...nothing to do with OS, which seems to now be known... that is a good thing for divis...no?
-PD
here ya go tex and haeven,,,,
Mr. Dhaliwal,
There is zero chance of these other Loan Note Holders all accepting shares of Common Stock to settle their Loan Notes! At best, we may get another US$1 million in Loan Notes converted into shares of Common Stock; and there is no guarantee that will happen anyway. Besides which, I consider it dilution and not really in stockholders' interests to keep issuing shares of our Common Stock at these stock price levels!
Pete Bezzano
...
Tex, it is one thing for the loan notes holders to have their 'skin in the game' but another thing for them to literally take over the game. Take a look at this and tell me what you think:
EXTRACT FROM NOVEMBER 2009 8K:
"The amount of US$4,285,855.65 (Four million two hundred and eighty five thousand eight hundred and fifty five dollars and sixty five cents)owed to Loan Note Holders (as detailed in this Filing, plus accrued interest on these Loan Notes) and to other Creditors; will be required to be deducted from the proceeds of the sale of the Company’s interests in the two Gold Properties.
It is possible that the Company may be successful in settling part or all of the various outstanding Loan Notes into shares of the Company’s Stock. In this event, the amount of shares outstanding will be substantially increased; this could result in a reduced value per share of the Company’s Common Stock..."
EXTRACT FROM FEBRURARY 2010 8K:
"The Company is negotiating to convert the additional outstanding Loan Notes into restricted shares of the Company’s Common Stock. There is no guarantee that the Company will be successful in this endeavor..."
Now, LETS DO THE MATH:
If 5 Billion shares just got released at .0001 to cover US $500,000 debt. Then that leaves the owed amount at US $4,285,855 minus US $500,000 = US $3,785,855 approximately. If they release thapprox 38 Billion shares to cover this pending amount, that would put the total outstanding shares around the current 36 Billion plus this 38 Billion = 74 or 75 BILLION SHARES OUTSTANDING!!! DOES THAT NUMBER LOOK FAMILIAR TO ANYONE??!! It should look familar because that the the newly targeted AUTHORIZED SHARE AMOUNT!!! If the deal is worth US $100 Million, then this number will need to be divided by this potential OS of 75 Billion not 36 billion or so that currently stands. With that math, that give a DIVIDEND YIELD OF .001333 NOT .003333 (roughly) that we have all been looking at! In simple terms, if these so called loans notes all get converted to shares, these new holders will get US $49.5 Million ( 38 Billion x .001333 dividend = US $49.5M)of the possible US $100 Million deal...Considering that the original loans notes were no more than US $4.5 M, dont ya thing that a greater than US $49.5 M return is a bit much?!!!
NOTE: My numbers may be off but the general jist is all there...Thoughts?? I suggest asking Mr. Bezzano to stop this dilution would be a good start to doing something BUT im sure all this has been CAREFULLY thought out...BUT I guess .0013 is still better than 0.000nothing:)
-PD
I suspect things are gonna get interesting
-PD
Funny thing is that these guys have said the worst stuff about the CEO and company...IF the company is taking a stance, then so be it..but if they are just talking SMACK with NO LEGAL ACTION then that is only going to add fuel to the growing fire..(lane:)
-PD (just a shareholder watchin and waiting...