Successful Businessman unlike FLPC
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Labradorite: In a direct answer to your question, no, I did think about buying FLPC on several occasions some time ago, but due to the lack of information and over two years of "Restructuring", I decided not to go for it, so I am a spectator. As for being 'fully loaded', yes, I am but not with FLPC shares, only UK based Oiler's. It just cost too much to keep on throwing good money after bad. I've had my share dealing days since 2003 and can make more money in 5 days selling Antique and Classic Photographica. Share dealing is no contest.
To give you some idea how it's gone for me, I made approx. $70,000 last year on Antiques alone, providing one can buy at the right price. Unfortunately, with any share and I will quote FLPC for now, had I bought say $1000 worth a year or two ago, I would be probably out of pocket. I did buy TWO Classic British cameras for £200 and sold them for £3000 the pair, so that's a good result.
I hope those who bought in on the 'Lows' several months ago do ok in due course. I have followed FLPC for about three years and I just hope the BoD are genuine with their shareholder's and their Investment cash. I am looking forward to seeing what the Filing's say when they are eventually done. My argument was (as it is a Public Forum) is what have they to show for $Millions of investment but now have c$1.5M Debt but no sales! Had there been sales, I would have probably invested, but it's too high a risk and has been very unreliable over the years which has put me off.
Maybe now, FLPC can redeem themselves for the benefit of all?
I hope you do well, Lab'?
I do feel that I'm fully loaded with shares over here. Unfortunately, I'm out of pocket to the tune of c£5500 with my original 'punt' of £6500 GBP so use your conversion chart. I don't really want to compound the problem! At the moment, FLPC looks far more rosy than the two Oiler's I'm with at the present time.
I have been in one so long, I can't remember when I bought them, but I think it is 9 years ago, the other being 3 years. The first, I bought at 0.25p (1/4 of 1 GBP), now worth 0.0035p, just over 1/4 of an English Penny, so it's rubbish! I have sworn never to deal in shares again, but we learn the hard way!
At these (FLPC) Levels, I do believe that IF the BoD keep their word, a punt would be worth it. You MUST trust the words of Bob & Don, but if they don't follow it through, I would be inclined to take them to task. It's a BIG risk, so go careful, it's up to you. GL ALL!
6.30pm and time to leave work.
RJB: I won't be trying to debunk FLPC whilst they appear to be what could be a roll! They DO have something tangible, that is clear. It's what they will actually do about it that is more interesting. I know that so far, there's nothing been going on for ages...years in fact, but now they've released some sort of positive news, it's only fair to think they will follow it up?
Bearing in mind that over time, snippets of news has appeared, but looking at the grand scheme of things and past performance, FLPC's recent update sounds encouraging. I know talk is cheap, but they did suggest that there's more to come. I only hope for the sake of the Investor's, that what they say, they mean and will execute.
Clearly, there's no guarantee that anything at will happen, but let's say for now, that everyone here is putting their trust in the BoD to make it work and get on with the job as the company's name suggests: Junior MINING & Exploration Company. A grand title, yes, but will they deliver? Looking in depth at the company as it is, if I ever decided to take a punt here, I would want to see more 'Doing', but before the 'doing', there has to be a lead up to it, so the next news has to be the BoD saying 'X' will happen in a few weeks. If it happens, they will be 100% more credible than of late. If per chance nothing happens and a raft of reasons are mentioned in their next Public Notice, you may be able to tell a little more about whether it's all just hot air or whether there really is something building.
At this early stage of news,. it's better to be in than out. Massive risk but if there is ONE whiff of Doing, then that's when the money will be made...purely on spec. This would make FLPC worth trading on and off but as yet, not for LTH. Whether they Mine or not doesn't mean to say the investor will not make money. They will on a couple of 'GOOD progressive' company notices. To make big money, they need to release TWO really good 'back to back' notices with some juicy content, that's all it will take, then you will see the 'Boom'! Sell on the Spike and wait for the next one. Now's the time to buy.
Labrodorite: Agreed. Whatever they may or may not do in the long term will give many Investor's the chance to actually anticipate right now, while the SP is low, to jump in and make a killing while they can. This share is very news sensitive, so even if Don or Bob put a shovel into the ground, the Share price will escalate to recent all time high's.
As long as FLPC doesn't drag it's heels with getting news out, just a couple of news flows to follow the last that sound good will get many investors all or most of their money back with likely profits if bought this year at least. All FLPC need to do is say the magic words. Job done.
The Filings should be interesting. I enjoy reading Mysteries and Science Fiction. I expect their new accountant is interned in their celler, under strict instructions and on bread and water. LOL!
1KGW: Oh, so you think it's worth suggesting it to the BoD?
One thing's for sure, they'd make more profit selling that than nothing at all. Just One Dime clear profit would be 100% above what they've (not) made to date...7 years!
Hawkeshaw. If you mean 'Mugs', the Forums awash with them.
It would be better if FLPC diversified and started farming. There's a good demand for Rapeseed Oil and the like. They could even lease out some land for Cattle grazing and collect Manure to sell in bags to Gardeners to help plant growing. At least they would make an easy profit, so if you ever thought that FLPC was talking S''t, by selling Dung, at least they would be in their element! LOL
Pitman: Any chance of you contacting a reliable source outside Canada who could act as a 'Broker'. As long as it's a GOOD friend who know's the ropes, could they trade on your behalf on the basis of a phone call or Instant Message. That's providing Time Zones didn't conflict too much?
Could work or maybe totally impractical?
1KGW:
Wait and see whether in the investor's mind it all concurs...when and if the Filing's eventually appear. Should make interesting reading.
Labradorite: Actually, I'm not far out. A previous and fairly recent post of mine did say that once something starts to happen, it will 'Sky Rocket'. What I also said was that if those who bought in at a VERY low price may be able to sell on any Spike and make a bit providing they can sell in ONE big lot rather than Tranches of small blocks before it retraced.
It comes as no surprise to me that whatever it is creating the rise will do some people good, which is good news all round.
All this needs to do is maintain these rises over the weeks to do even better. The icing on the cake, and to make this one really big is for the BoD see it right through for the REALLY BIG Bucks. For now, as long as it continues, it's great news. It just needs FLPC as a company to ensure they don't let the side down. It's the overall reliability of FLPC to prove they can actually "Do what it says on the Tin", so for now, it's good to see some 'Happy Traders/Shareholder's'.
There's also a lot of irony in this after all this time when some action happens, those who are elsewhere on the Globe can't even sell to cut losses as/if necessary, which is a real pain :(
PITMAN:
2.
The CTO take immediate effect once issued. The company would have been made aware that they are in default and may be subject to further action including a cease trade order.
Regards,
Alberta Securities Commission
Sedar.Sedi
SEDAR and SEDI Inquiries
Alberta Securities Commission
Suite 600, 250-5th Street SW
Calgary, AB, T2P 0R4
Tel: 403.297.2489
Fax: 403.297.2082
Email: sedar.sedi@asc.ca
www.asc.ca
Pitman: I'm sure you will play it as you think fit?
PITMAN:
1.
ALBERTA SECURITIES COMMISSION
CEASE TRADE ORDER
Citation: Re First Liberty Power Corp., 2015 ABASC 535 Date: 20150120
First Liberty Power Corp.
Background
1. First Liberty Power Corp. (the Issuer) is a reporting issuer under Multilateral Instrument
51-105 Issuers Quoted in the U.S. Over-the-Counter Markets and has been an OTC
reporting issuer since at least 31 July 2012.
2. The Issuer has failed to file any of the periodic disclosure required under section 146 of
the Securities Act (Alberta) (the Act) since that date.
Decision
3. Under section 33.1 of the Act, it is ordered that trading or purchasing cease in respect of
each security of the Issuer until this order has been revoked or varied.
20 January 2015
“original signed by”
Tom Graham, CA
Director, Corporate Finance
PITMAN: 1.
ALBERTA SECURITIES COMMISSION
CEASE TRADE ORDER
Citation: Re First Liberty Power Corp., 2015 ABASC 535 Date: 20150120
First Liberty Power Corp.
Background
1. First Liberty Power Corp. (the Issuer) is a reporting issuer under Multilateral Instrument
51-105 Issuers Quoted in the U.S. Over-the-Counter Markets and has been an OTC
reporting issuer since at least 31 July 2012.
2. The Issuer has failed to file any of the periodic disclosure required under section 146 of
the Securities Act (Alberta) (the Act) since that date.
Decision
3. Under section 33.1 of the Act, it is ordered that trading or purchasing cease in respect of
each security of the Issuer until this order has been revoked or varied.
20 January 2015
“original signed by”
Tom Graham, CA
Director, Corporate Finance
Perhaps Bob will give some insight as to how long the Filings will take? Whilst he did say "in the coming weeks/months". It's not exactly price sensitive if he says, "should be completed by end August", but I doubt very much whether he will commit himself. These guys don't for fear of getting it wrong, hence it's open ended?
I wonder if there REALLY IS a new accountant. There's been so much 'nothing' going on, I don't think that anyone can really be quite sure what they are up to! S'pose you could ask who the accountant is or the name of the company dealing with it? If he told you, they wouldn't divulge anything but at least you could be sure the Books were in 'capable hands'...providing the Bananas were always fresh! LOL
Pitman:
If you would like me to paste all the details here, I will, but not until tomorrow.
Lab' Any decent and reliable Listed Company would have Filed on time. It just proves that FLPC Bosses are very good at not being very good. Still, let's hope they keep going long enough to pay the poor Accountant in cash rather than issue him with near-worthless shares like they did to a few of their other Creditor's.
You tell me. Anyway, it's important to them if nobody else. Supposing they have several thousand Dollars each invested. If they all sold, the SP would go down further, then you'd all be fidgeting. They can't and won't be able to sell anyway, so at this stage your SP will be unaffected, but it's certainly pi55ed them off.
Personally, I'm not bothered either way, but investment details that help some may be of use to them...as some obviously didn't know, could be useful. IF not, ignore it. Bye!
Easymoney: Pitman does.
It's his money that helps to improve the shareprice in the share that you and all the other's on this Forum are are invested in.
It's up to him what he does now. Ref. Numbers available.
NOTE FOR ALL CANADIAN'S WITH SHARES IN FLPC:
The Alberta Securities Commission sent FLPC an official CTO Notice to FLPC back in 2015. If you want the full details which you can take up with the BoD who have known about this for two years, they will have a copy of the notification in their files. If they still have it, or maybe they've lost it?
The response camera through a short while ago.
Hawkshaw: No boiler room here! Just an ordinary main street office with adjoining retail premises. I like to get on with the job. If something happens here which I don't agree with, I follow it all the way through for answers until I reach a satisfactory conclusion.
I don't drink Coffee, just water on these days... 32 Degrees here. Too hot for most of us.
WRONG!! I was directed through to the right dept. via Links. Very helpful people. Been in touch with a number of contacts. If there's an issue here, people drag their heels and in many cases they don't follow it up so they seem to keep whinging rather than getting on with things.
I have been in several shares that have been suspended for many weeks, so I take the rough with the smooth rather than carry on about it like some child throwing a tantrum!
It's good to find things out! I have gleaned a fair amount of information already ;)
Time to close my Office now. Look forward to receiving updates soon!
Already made the inquiries, Awaiting replies:
http://www.osc.gov.on.ca/en/19856.htm
Labrodorite: I'm not implying they are not smart enough to know about it, but this situation isn't likely to be at the forefront of every Canadian's mind! However, it seems that not enough info. was passed on to THEM. If they traded a day or two before the Cease, how on earth would they have known anyway? Share Trading can be suspended at a moments notice. It's not a question of being smart. You can't know everything, especially locking the gate after the Horse has bolted.
It's down to the Authorities to feed them the information across the board. If FLPC has known about this all along, I'm sure Pitman may post here so that other Canadian's who may view this board will ultimately find out who is responsible for the lack of vital info. and take them to task.
Personally, I think that as a listed Company, FLPC SHOULD be aware of something as important as this and posted an IMMEDIATE 'FLAG' on the site as soon as they knew.
PITMAN: I have e-mailed a contact that may be able to direct me to someone who can help you. I have asked them several questions, so let's see what they come up with. If I get a result, I will let you know, but you may be able to find out more quickly than I. It may be a few days if they respond, or they may not reply at all. We'll see. Cheers. Cav.
Labradorite. When Share dealing in Canada, I would say the average man in the street would be totally unaware of these intricacy's and probably not in their minds at all. When thing crop up, THEN they are brought to the fore. Insurmountable? Doubt it, so Pitmam, get on the phone to Bob and pose a few awkward questions and see what he says, but DO contact your authorities and see if they can tell you if they notified FLPC about this debacle. Good luck.
Pitman: As far as the cost (to FLPC would be), it would be relatively low. The main cost is doing the Accounts and get them to submission level. In theory, there should be no added costs because if the BoD were on the ball, this would have already been taken into account.
They know Share dealing is Global, so they should know about this Trading issue. I would personally ask Bob directly...over the phone and put him on the spot. If you e-mail him, he then has the chance to make up an excuse. In addition, listed Company's should be Automatically notified if there's an issue. If per chance you can find out if The Canadian Authorities has notified FLPC and a date they did it on, then you have some ammunition to go the Board with. If FLPC has known about this for ages, then it's unfair trading and could be brought to account. After all, they have your money, so you have the right to know what's going on.
It's not sour Grapes, just pent up frustration.
Re. Cease Trade Order:
See if you can get some concrete facts as to how the BoD can help you. I suppose that once the Filing's are complete, quote: "..over the 'Coming weeks/months", they can just 'copy' the filings over to the Canadian set up. That's more time and cost to FLPC to duplicate them over as required by the Authorities..(so what), but they must bear in mind that it doesn't all revolve around the US. They need the Thumb screws on. If it doesn't happen, it could be deemed as negligent and a case brought about from all those involved, but it's costly and time consuming. Free legal advice would have to be saught as we have in the UK to see if there's a way around it. Not sure if you have the equivalent of the Citizens Advice Bureau out there where Free Legal advice is given?
A tough Cookie to crack :((
Pitmann. I Suppose that he may not have known that you were Canadian if this is the case. In fairness, one cannot know everything at the drop of a hat until the topic's brought up. BUT...The BoD should 'know everything', at least it appears that way and whilst this is a very salient point and directly to do with their business investments, should they have made a point of making a note of this two years ago on an update or would it have been detrimental to their business to post 'Negative' vibes on their website?
Perhaps if I were on the board, I would tactfully have made a point of mentioning 'there were share trading technicalities within Canada that may affect buying/selling in that Country and ask they get in touch. Too much to ask? Extremely frustrating for you, mate.
Wonder how Bob will react? Now they have a new accountant, it could be a long while before these Filings are submitted. True Colours of the BoD may well begin to show through. Hope it goes ok for you.
Grolden: My business didn't start with debt and remained in credit for 5 years. Debt comes later when you need cash from the bank to improve the business. In addition, before the bank lend you money, they will need to see 3 years figures with NET Profit, They will then decide whether you have the ability to pay them back over the term of the loan. If you don't have business figures, they will ask you for Security or a guarantor.
HUBB: I know enough. What I also know is a fair amount about how business finance works. Having been my own accountant for 25 years, it matters little about what the business is as the principle of good money management, allocation of funds, prioritising fund distribution, etc. is the same across the board. If you cannot get it right and it gets out of control with debt (as FLPC has), then you are on a hiding to nothing. It's just a matter of time before it catches up with the business.
Debt becomes toxic as it has here (FACT), which means there's no real way out other than to service the debts 'forever' as best possible with ongoing arrangements with Creditor's. As everyone here know's, FLPC has not sold anything since inception, this means there's NO INCOME, only outgoings. It is impossible to satisfactorily run a business this way, and sooner or later, they may cease to exist.
This is as many will know, is why FLPC was going to file for insolvency about a year ago. I placed Bob's e-mail on this Forum so the readers were in no doubt that it was true. Essentially, and it's proven, especially with Pitman's most recent post, that BAD MANAGEMENT has played a big part in the financial state of this company. Whether by design or 'accidental', cannot be proven UNTIL the current up to date filings are assessed and presented.
A number years ago, FLPC had Millions of Dollars investment, now they have at least $1.3M Debt. Why? Running a three or 4 staff business from a small office with basic overheads + any associated costs like 'Travel' Wages, etc cannot possibly cost a few Million Dollars over 3-5 years, especially as there's been no input into the company, only outputs but not of that Magnitude. So, where's all the cash gone....Million's don't forget. See who can work it out before they present a what will probably be a very 'Creative' set of Books. Not illegal, but if it doesn't look right, then I'm sure that a few Holder's may have some questions to ask later on. You decide.
Pitman: I do believe there is a deadline to submit their Filings which is way overdue. Unless they issue an extension, without Filings, it is POSSIBLE they could have their trading temporarily suspended until an agreement is reached with the Trading Authorities.
They are working on the completion of their Filings with their new 'Accountant', so it's his job to inform the Authorities what's going on. Maybe he has? They will have to move pretty quickly otherwise the Canadian Holder's are going create Merry Hell if trading ceases.
1KGW: "What happened to the vaunted JV? Now it's only the Government?
There are a lot of ways FLPC can resume mining.
WRONG!!
Bob originally stated on one of his e-mail's to me that they were searching for a JV. If they haven't found one in two years, you need to ask him why, not me. Secondly, if there were a "lot of ways" (name them and send your suggestion's on a postcard to Bob!) that FLPC could resume PROPER Mining, they should have done it when they had millions of Dollars from the original investor's. Now the money's all gone bar a few Dollars...as you well know. Reason: "BAD MANAGEMENT".
FLPC is run from ONE small Office, all FLPC Shareholder's will know that it doesn't cost Millions to run this office with up to 4 staff. Without an ACTIVE Mining Program and only day to day running of the business with the occasional Permit and virtually NO significant overheads, where do you suppose MILLIONS of Dollars has gone?
Some has gone on previous accounting, rent/overheads for the office, salaries, Travel costs as necessary and probably a few Creditors, Internet providers etc. This DOES NOT cost Millions over a few years so....
Anyone know where the money has all gone? This was after they blasted the 1000 Tonnes of Ore...nothing else. All your investment cash has whittled away to $50K, so who can say what they have done with all your investment cash and have nothing to show for it except Toxic debt.
(Sorry folks, 1KGW did ask!!)
Labradorite: My take on the message is all you can do is wait and see if they follow it all the way through. As I am a realist, I have to collate all previous info., past e-mail's from Bob, put them all together and I come up with what I think. However, what I think is not very relevant as other people's opinion's will differ and will be more beneficial to this Forum.
Whilst FLPC is 'On a Roll' so-to-speak, I will let the exciting advances from the board and the current Poster's do the talking and see whether all the hype turns out to be worth it! Hope so for all your sake.
Good evening. 8pm Here.
Labrodorite: My guess is that Fencemaker will only open again if the Government are willing to offer FLPC some funding. Bob & Don will have to try the 'Hard sell'. They are good at it and could very well win the day. They have to convince the US Gov. it's worth it, BUT they will want evidence that what is down there will be worth it.
If good, they get cash, if not, Fencemaker will probably remain dormant for the foreseeable future.
Jdoggs money: Yes, it was posted some time ago with that very link.
Labradorite: Here for you, is my most recent post from Bob. Make of it what you will. This post is only hours old. I don't normally place them here, but I will with this one as you can read into it and judge how truly relevant it is! Read it at least twice!
My question to Bob was, "When might you expect to re-open Fencemaker?" A question whereby I didn't expect any real answer because he won't tell us. Price sensitive!
The below is verbatim... unchanged. Read it carefully!!
Good day XXXXX
As you know, the company is focused on getting the OTC financial filings up-to-date.
The company continues to work with the State of Nevada on regulations and business requirements to keep the venture moving forward as well.
Also, part of the “Restructuring Operation” is to get the prior mined ore processed at the tolling mill where the ore is currently being stored.
This process would produce a concentrated ore that the company expects to sell and demonstrate the completed production cycle.
Once this is completed, it will take about 60 days to re-open the mine once that decision is made and funding is available.
As this operation does include required government and safety obligations as with any mining venture.
END.
Aka willy wonka: One has to use you initiative and be guided by the little chaps sitting on your shoulder. You know, the one with the Halo and the other with the Trident!
There is no hard and fast rule, essentially LUCK! We all know that, you pay your money and take your chance. Share dealing is delusional, most will agree. I have made more money last week (percentage wise) using ebay, than in one YEAR of share dealing. It must tell you something...it has me, so I'm biding my time with my current shares and once I get so cheesed off with them, I will sell and cut my losses. Never again!
CEO's of all listed company's are 'salesman'. In many cases, what they sell are most definitely not fit for purpose! With shares, you can't take them back and demand a refund!! I know a lot about selling and study and listen to what the salesman says. Lots of complex 'chat', invariably means the product is probably rubbish. The 'harder the sell',(Over sell) and the more baffling the reasons WHY to buy, is probably best to steer clear of unless you know what you are buying!
Impossible with share dealing! The buyer's choice. I've been a Mug, mate!!
Labradorite: After many years of share dealing, one has to take a rather pessimistic view, it's safer or just not deal at all!
Having followed FLPC for some long time, and keeping in touch with Bob Reynolds for months, one has learnt not to set hopes too high, so being a pessimist/realist...very similar...is better to keep an open mind about the whole thing. Realistically, I gather as much info about a company I can...as you do, and from my past experiences, it becomes very clear through watching how a company performs...or doesn't, or says it will/might, then it's easy to read between the lines as to which company could be genuine and which one is stringing along it's shareholder's with all 'good things to come'!
Some company's make it through, many are simply a Farce. It's down to the Punter to choose. Once bought, it's usually too late when one realizes you've been had, and I have...twice!! $9000 down the pan :(
Hey ho! Just have to work harder now. lol GLA
It's going to be about another year with all the various bits of 'Red Tape' before and if Fencemaker is re-opened which will be about 60 days to actually get the Mine under way. So more patience will be required! In the meantime, FLPC is concentrating more on sorting out the waaaay overdue OTC Filings.