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diamond here is the revised agreement as on the FFGO website.
LAS VEGAS, NV--(Marketwire - August 2, 2010) - ...
The Company has filed today a Form 8-K setting out the revised agreement with Sloane Investments, Inc. 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. Additional time was granted by Sloane Investments, Inc. who unconditionally accepted the terms of these sales of our Company's Gold interests.
diamond, you have missed it. The dates have already changed from August 6th to August 12th and August 13th to August 16th. Although the weatherman predicts a "Beautiful Day" tomorrow where I live. So you are right about the weather.
I don't understand. I thought dumping shares meant selling them. Is there some way to dump shares and be buying? So if Sloane would buy 17B shares at .0035 just to sell them at .0001. He would then be left with no shares and he would have sold each share at a loss of .0034. Even if he bought 15B more before dumping at .0001 he would still be selling his shares at a loss.
I wonder if the record date will be on or near the date of the sale, August 12th, or the date of the receipt of sale proceeds, August 15th. I understand that to mean that the sales agreement will be signed on August 12th and the buyer has until August 16th to pay. At what time will FINRA accept filing for a dividend? Does FFGO have to pay its debt (Sloane) first so that it knows the amount left to use to pay the dividend?
I am not sure if on or about August 12th or August 16th would be the record date. Is the eligibility for the dividend based on trade date or settlement date? If it is based on settlement date than the last date to trade would be 3 days before the record date. Am I correct in that whatever the record date the pay date is 10 days later?
I know if I bought 17,645,966,686 shares at .0035 I would want to sell them at .0001. That would mean I gave notes worth $61,760,883.40 and I will get $1,764,596.67. That is only a loss of $59,996,286.73.
If its on the Bid isn't that the same as an offer to buy stock at that price? How can he dump stock when he is buying?
I don't see the word promise there. They make a statement that a R/S is considered destructive to stockholder value and under no circumstances, consider such an action. That is a statement and not a promise.
I don't see where they promise there will be no R/S.
Scottrade online ordering system only allows 4 times the current price. So I could only place a order to sell at .0004.
ETMM on the bid @ .0001, 11 on ask @ .0002 including NITE, MURF, and DLNY.
Back to no bid. DLNY on the ask @ .0001
Last minute of trading.
And now 3 on ask @ .0001. We are going the wrong way here. If it goes up just a bit I will sell mine. I got burned before being greedy and waiting for the big payoff.
Now 2 on the ask @ .0001
What about the gold interests that they don't have?
I was responding to someone's question about the PPS in 2 weeks.
I expect the share price to be .0001 in 2 weeks as the PR said the company would be dormant.
Nite just showed up on ask @ .0001
Still no bid on iHub L2. 2 on ask @ .0001, 4 @ .0002, and 1 @ .01
I believe you are wrong. The way I read it the notes will be paid and are no more than 62% of the sale proceeds. After the notes are paid the remaining balance equals .003449 per share.
Well from what the PR said after all notes are paid the balance equates to .003449 per share of common stock.
V, Do you think the record date will be August 12th?
One reason is that Sloane is not the buyer. FFGO has said the deal will be completed as soon as the buyer's auditors are done.
Sloane's terms are for financing. FFGO can always tell Sloane that the deal isn't done and more money and/or time is needed. It is then up to Sloane to give more money and/or time or to demand payment in accordance with the current financing terms.
You are quoting Sloane's terms for financing not FFGO's statements about the divy. The financing terms can always be renegotiated if more financing is needed.
I am sorry. I can't find that email. I have one from 7/21 that is different. I still don't see where he says he promises to update Q&A.
Was there 2 emails sent on 7/21? On can't find that paragraph.
Did he promise an email or just say there would be?
110M shares sold with less than 3 minutes to close.
August 6th is not the divy date. It is a deadline to have the deal done set by Sloane for their financing. The divy announcement can come at any time.
That is not a promise. That is a deadline set by Sloane not FFGO.
Seven, it appears you are confusing the shares sloane purchased from shareholders with the remaining debt Sloane purchased from debtors. They are not the same. FFGO issued stock to pay off most of their debt. Sloane bought the remaining debt from the debtors.
It is very simple. The definition of delay does not match the definition of lending money.
You kept saying there is another delay. Then you changed to say that Lumb is the one lending money.
You can't even stay on the same topic.
You keep saying there is another delay. So make up your mind is there another delay or is Lumb the one who's lending money. A delay and lending money are not the same thing.
I have never seen where the company claims anything about share value is going to change to .003. The company has only announced a dividend of at least .003 per share. A dividend does not mean the share value has to change.
No. I am saying that today's 8-K says that Sloane loaned money for FFGO to continue operation to complete the sale by August 6th. It doesn't say the sale wont be completed until August 6th. The sale could be completed today.
It does say if the sale isn't completed by August 6th that Sloane can demand immediate payment and force an involuntary bankruptcy.
There is nothing in the 8-K that says the sale and dividends will be delayed.
Involuntary Bankruptcy is an option available to Sloane if FFGO does not complete the sale by a set date in August.
Bankruptcy is only a worst case scenario. The sale could still be completed very soon.
It's not a delay. It's that simple.
To me it reads as Sloane doesn't want any delays and has given a deadline to have the deal completed.
The 8-K does not indicate a delay at all. It states a date to conclude the sale or Sloane can demand payment of the money owed. There are still many ways that delays can happen but, the 8-K more of a get it done or else.
There may also be a creditor committee. The bankruptcy I went through the creditor committee decided a better price could be acheived by splitting up a part of the company and selling it separately. Like selling the 2 gold interests separately instead of together.