Successful Businessman unlike FLPC
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A 'going concern' isn't quite the way I'd put it. More of a growing concern. A going concern is a profitable and/or a trading business that sells goods for profits and FLPC is neither because all they do is exist. Quite recently, even Bob said they were on the verge of Filing for insolvency, but they only decided not to and continue to fund it themselves since they bought out Stockpile Resources to give FLPC full control over Fencemaker. Perhaps they have designs on it, but they need to fill in the Shareholder's with progress notices just like they didn't when they bought out Stockpile! Very few knew about that.
FLPC will not have the cash to convert FM to profit, so they need to find someone brave enough to pour money into it and hope for the best. Don't forget it was last mined in the 1970s and heavily Mined around 30 years prior. If it were really worth it, they would have been digging it out not that many years ago!
They should have a 'For Rent' notice put out in the Mining Mag's. If they were so sure about it, why not advertise the fact that it is 'full of Antimony Ore'? Adverts are cheap enough, but if they won't even do that, it just goes some way of proving that FM could be less of a 'Gold' Mine than it's all cracked up to be.
JBW. WRONG, in fact, you couldn't be any more WRONG.
If I thought there was any Mileage in this share, I would buy, but the very fact that a Mining Company Director admitted that FLPC nearly went into insolvency last year, would put me or anyone else off permanently. Strange thing to say
If I buy into a share, it's to make money, not throw it into a company on it's last legs!
Do you really think I'd want to short a share which is already short enough with no 'get-up-and-go' left in it?
All my recent information is 100% correct. I could of course have been lied to in which case I will, at some point in time, have serious words in his 'Shell Like....'
What you need to read is the latest Filings, not the old stuff! I'm sure they will read fine (if they have a good accountant, as I do!) The Jolly old 'Creative Accountancy', everyone does it ;).
It is STILL mystifying how this tiny company can 'Spirit' away Millions of Dollars, only to find that many of their creditor's haven't been paid and FLPC STILL has nothing to show for it after 6 years! As for 'Trousering' a decent wage from whatever source, it's very likely. I would, all totally above board of course. What's the point in being in business if there's no money it it? Pointless! I can't see where else they are going support themselves, and if there's no money in it, why are they still here? LOL
Can't wait to read the long overdue Filings though! If they owe $1.3M to Misc Creditors or whoever, how come they owe so much and what on Earth did they have so much Credit for? This should also show up if and when the Filings appear and IF FLPC survives after they have been released.
Jotuk. Interesting but I see it notes 2014 down the para's. Is all this bang up to date? It was in fact on a written e-mail to me a few days ago that FLPC HAS completed a Legitimate Buy out, so it's a done deal. It seems to be that Stockpile with Don as manager, had this all sewn up some time ago, but there must be other reasons for one of your own Directors to be involved on another Board. I reckon it was probably a 'Shell' Company to move funds over as they think fit. It's commonplace, then the 'Shell' gains funds and becomes an 'Investment Company' but it's all very complicated.
At this stage, I cannot see any other reason, apart from full control over Fencemaker, except for building for the future, that Don sat on the company with a view to buy them out later (ie now) simply to gain 100% Charge over Fencemaker as a future asset to hold until the Price and demand of Antimony rocketed.
All they have to do is encourage a JV to Mine it FOC and see what they get. If it's good, they could sell/Lease the Mine on and make a killing,with Royalties, in which case UP rockets your SP! All guesswork though! They just need to tempt a JV to test the water so-to-speak.
Cheers. Off home!
"Where is the PROOF or EVIDENCE of alleged "underhand dealing?"
One can SPECULATE and ASSUME, but its only OPINION unless backed up by FACTS and PROOF."
I have it all here, but it's not just me that has it. Another interested party is now taking a look with significant interest.
RJB: What should have happened is that when FLPC bought Stockpile, this should have been in the interests of their Shareholder's. A Public Notice should have been released because if FLPC bought them out, then it's 'The Company' using Shareholder's cash, so it is only right that Shareholder's should have been informed of a 'strategic' development of furthering the company's progress.
In theory, there has to be a significant reason for FLPC to spend this money because if it was spent without ANY notice to it's Shareholder's, and the reason WHY they bought it, and nobody know's about it until today, why weren't you all told?
Unless the BoD can come up with a reason and how it reflects on the shareholder's, then there's some 'underhand' dealing going on which you as a shareholder, has the right to know. It's seems very unfair to exclude everyone from this deal....if such a deal really did take place?
You may find it online. Again, very strange.
RJB: In which case, I will keep everything well and truly crossed for you.
What do you make of my last? This is an important issue because if none of this were true and factual, I am not so sure that FLPC will survive in it's current guise. That Manager of the company noted (Stockpile Reserves) is in fact Don Nicholson, so why buy out a company run by a Director of FLPC. Not illegal, obviously, but where's the logic in buying out a company with many shareholders, but in fact, there are none to be seen.....anywhere. It really is very strange indeed.
If Don is/was the manager, then who owned the business as there's nothing online that reviews this company. Totally bizarre.
JOTUK: Well, what do you make of this?
Stockpile Reserves, LLC extracts strategic industrial minerals. The company is based in Modesto, California. Stockpile Reserves, LLC operates as a subsidiary of First Liberty Power Corp.
Well, well!
JOTUK: QUOTE: 1. "FLPC legitimately bought out Stockpile Reserves along with it's many Shareholders which gave them full control over the Fencemaker Mine". True or False?
2. The next phase was getting all permitting operations of the mine, stored Ore and other business requirements up to date and transferred to FLPC. True or False?
3. Is it true that FLPC was going to File for Insolvency last year. Has anyone been told this before?
All the above could be true or someone having us all on? If this IS true, then this information should have never been passed to me in the first place.
If you think this info. is incorrect, I will go back to the source of this info and tell them they are not telling the truth! Surely this info. cannot be wrong? If it is wrong, it will most definitely prove that my so-called source of info. has a history of being very economical with the truth. Hmm. I did wonder.
RJB: "FLPC will be just fine". And how do you think they will pay for all this mining and assaying. Who will they get to do the work? With $1.5M and no lender, actual Mining and sales is nigh-on impossible.
BeWary: Haven't had time to check any Filings, but if you say it's there, then it must be! All seems odd and very roundabout that these unlisted Company's have 'Many Shareholder's'. I suppose it's a legal way of moving money about. The BoD aren't that daft!
There could be a big Pump & Dump at some point. I'm fairly sure of that.
1KGW: Well, it could happen. Odd thing is, there was no significant Market reaction when FLPC bought out Stockpile Reserves. Why do you suppose that was? A few more $ won't break the bank so you can buy thousands for almost nothing. They have hundreds of Millions in 'free float'! lol
BeWary: It sounds like a non-starter. FLPC claim to have bought StockPile Reserves, but we won't know for how much until the Filings has been released. Plus Don Nicholson was the manager! Try to work it out!
I can't see this coming to much either, the costs would be astronomical against any return,
The best thing that could happen is that FLPC leases the Mine to a JV who's prepared to give it their best shot. That's after preliminary testing first to get some idea as to what's there, if anything, so it will cost the potential lessee a tidy sum to see if it's worth it. If it is, they could also pay Royalties to FLPC depending on the deal struck.
One assumes that the 1000 Tonnes of Ore came from Fencemaker, in which case they can hand it over to another company for testing. If this is the case, why haven't they done this earlier?
I reckon it's 99.9% not viable.
JOTUK:
OK, Stockpile Reserves and KAV Mining & Developments (under the same heading) are owned by FLPC. KAV Mining seem to have no records as doesn't the afore mentioned. Stockpile Reserves' Manager is Don Nicholson!
Stockpiles was said to have many shareholder's. I can't even find it listed....anywhere! No records of any business. Maybe you know? I have trawled the Web and can't find anything.
JOTUK:
As FLPC bought out another other Company recently, it gives them full control over one of FLPC's leased 'Assets'. Also **** Mining & Developing Co. Claim they have (Quote) ..."estimated reserves of up to 4 million tons. Ore grade current quality from 20% - 65%. Crushed or uncrushed. Permit allows for 100 tons a day. The Fencemaker Mine is an untapped treasure of Antimony Ore. Thank You,"
"Untapped Treasure'. Actually, it's not untapped. It was Mined many decades ago, 1940s was it? and also in the 1970s too!
Odd thing is, there is no such business to be found and absolutely no Reference of any trading accounts to be found online at this stage! Come to that, the other company, **** was claimed to have been bought out along with it's 'many Shareholders', also has no record(s) of any Shareholder's neither are there any Figures or accounts that can be viewed online. Both **** and **** has FLPC Connections, but with NO Trading Figures! Just like FLPC.
I wonder how much money was paid by FLPC for this 'other' company, and can anyone guess who manages this 'other' company?? It would be interesting to find out WHY there are two apparently NON-Trading company's, allegedly with no sales, with FLPC Links. With no spare cash as such, in the FLPC Coffers. It rather makes me and other's wonder why they have these two additional company (names only), so perhaps they are simply 'Shells', and IF they are Shells, in theory, there should be TWO Bank accounts, whereby, if they have money in them, then FLPC has 'circulated' money from whatever source, and kept it in separate accounts. Sounds a bit strange all round!! What do you think?
Both are 'Mining' company's with no record of any Mining. A bit like FLPC. Wierd!! With all that's going on, I'm surprised FLPC is still 'trading'....even if it's only in shares alone!
It's unlikely to pay off unless a few miracles (currently in the mixing pot), happen. It's possible rather probable. I think I have a clue as to where a significant chunk of funds went to! It's all above board, and It will (should!) show up in the Filings one day, hopefully?
I have a fair bit of info. now, but will hang on to it just in case it's not politic to put it here yet.
It's all beginning to make sense why this "Restructure" is taking so long. It's complicated and protracted, but it could prevent this company from going under which apparently, nearly happened a while back.
Can't say any more for now. 100% no Bull.
Question.
IS anyone aware of any other business interests that FLPC has that could prove a positive move within this "restructure"?
You can only have 100% on FACTS. 1000% is impossible. It's 100% true or 100% False
FACT: NO Money, NO production, NO Profit, NO Filings, NO Mining, little or NO Investment, No "Restructure" (if there is, they should provide EVIDENCE other that their word).
It's 99.999% SCAM and should be looked into for misleading shareholder's into succeeding as a Junior 'Mining' & Exploration Company. What HAVE they Explored? NOTHING, what HAVE they Mined? NOTHING.
Total Debacle and farce. 'Farce' being the operative word here.
100% TRUE. FACT. You need to learn the company.
Actually, they do. Because it was the DIRECTORS of THIS company who ran the Scam as they are running this one.
WhiteDog: FLPC doesn't actually have a stash of A. What they have is 1000 tonnes of Antimony ORE which hasn't been assayed due to tests proving there was insufficient Antimony in the test to make it worth while to extract as the extraction costs would outweigh the value of the Mineral within the ore!
You can check this fact by writing to Bob Reynolds and he will give you all the relevant details. If there was THAT much A in the ore, someone would have snapped it up by now. This Ore has been sitting around for years and it wasn't even MINED by FLPC, it was already on site when they took over the Lease of the Mine!
Want further proof? If you ask Bob Reynolds WHEN they Mined it, who did it and how much it cost to Mine it, you will not get a straight answer....honest. Simply because FLPC didn't Mine it. Also, ask him where, and in which Filings was the bill/payment for said 'mining'. He won't tell you that either, because it doesn't exist! He MUST tell all as it was Shareholder's money that would have paid for it, if indeed they could prove when and if FLPC did Mine it!!
BeWary: It appears that a few of the guys I know dotted about the Globe, AND one of which has been sitting here with a moderate qty of shares for the last 3 years, has decided to get all his FLPC Info. together and collate what he thinks is a salient case regarding the way that FLPC has been run.
About a month ago, he had a few words in the right places, so whilst I cannot comment further, you can expect something to come from his inquiries.
Could prove interesting, but have some reservations as to whether he'll get anywhere regarding 'Tin-pot', fly-by-night small businesses like FLPC who could prove a 'law unto themselves'.
MoneyMike: Sound post, but having followed this stock for a couple of years, and also the current BoD on a previous stock, it was a foregone conclusion that FLPC never intended to become a Mining Company at all, any more than they did with their previous company PPA (Pan Pacific Aggregates). We all got bitten on that one.
A few people I know lost in excess of $150,000, my losses was around $1100, so I got wind of FLPC to see how they would run this company, and essentially, it is the same. Talk a lot but do nothing. Try to gain investor's to part with their cash....which they have, and ambiguously, say how they INTEND to proceed into 'Mining' along with a glitzy Website.
It is just a load of Hogwash and they DID have Millions of Dollars invested and it's all vanished to the tune of (now) MINUS $1.5M debt. Where do you suppose it's all gone? It would be interesting to get another (NON?-Investor's) take on it. I am not, never have been and never will be invested in this old dog, scam, call it what you like, and as far as their "Restructure" is concerned, it's just another ruse that will come of nothing. After nearly TWO years, it HAS come of nothing, but some folk here won't believe that it has long since failed and they are just hanging on, claiming to put their own cash into the business! JOKE!!
What FLPC has succeeded in, is pulling the wool over everyone's eyes, running a 'make believe' Junior Mining& Exploration Company that quite honestly. never intended Exploring or Mining anything other than to explore 'legitimate' methods of obtaining cash for reasons best known to them, so I wonder what that could be?!!
Come back.
I will go to my FLPC File, as over the last year I have a amassed a considerable amount of FACTS extracted from various Web sites and a few contacts who have been closely watching how FLPC has been working since they started years ago.
Some of it is about the "Restructure", but it goes deeper than this. The Clincher was two things but clearly, I cannot put anything here, but I am certain that very soon, there will be some news about FLPC emanating from, not only one publication, but several. For those reading this, you may well think that there may be some bad news, but this won't be the case. I am tempted to say "Watch this space", and in the fullness of time, things are most definitely going to change when it's all finalized.
FLPC funding (ahem)when and if it happens, IS going to be used up very quickly indeed. Not too long and we will all find out why. There are Creditor's to be paid and other Bills too. Nail biting stuff and very much 'Squeaky Bum time' all round.
It's the 1000 Tonnes of Ore they need to get processed. It's been sitting there since God was boy. It would be the first and probably the cheapest way of getting some money in to the Bank. Only problem is, where will they get someone to assay it then extract what 'worth' there is? Any cash realised (if any) will just be eaten up in 'costs', then it's back to square one as the BoD will almost certainly NOT re-invest moneys from the sold
Who will start this work without some payment up front? FLPC's Track record of paying O/S Bills isn't exactly flavour of the month with many of their Creditor's. Knowing this, I'm not sure whether anyone will even bother to undertake the job unless they are paid more or less in full with an agreed amount. However, as FLPC has no money, it seems to me that the Ore will stay there 'forever'.
What a shower!
Well, not long before two years is up, so does anyone here still believe that the FLPC BoD are 'sincere' about their "Restructure", or does anyone think that as there's STILL ZERO NEWS, the BoD have been economical with the truth about the position of this company?
It doesn't matter how many times the BoD respond to various e-mail's, not just mine. We always get the same old response...lot's of bravado and stalling tactics. Maybe someone SHOULD bring about a case against these guys, because they have had and spent all you money and then some, but with what to show in return? Toxic Debt, so it's about time....a VERY LONG TIME....these guys were held to account. Nobody here can tell me (or any of the shareholder's), that all is well, it's not, so somebody should 'beat a path' to their front door and start asking questions.
It appears that the majority of people here don't seem to care about their losses. This has gone on long enough now and it's just not good enough. FLPC seems to be finished, but the company hasn't muttered a single word on any Public Notice for almost two years. This must tell you something is just not quite right any more!!!!
GOFOR: Well, if it holds and more buying continues through the week, a 'Glimmer' is about right. It has to start somewhere. The pattern seems to be that a load is bought, you see a percentage and the following day, it simply retraces back to what it was. Maybe it won't this time?
It would be more encouraging for all concerned if the BoD would pull their finger's out, stop faffing about and communicated with their Shareholders on a bigger scale. If they're looking for investment, they won't get it by keeping quiet! Regular Public Announcements, say every 8 weeks or so isn't much to ask. The more they keep in touch, the more uplifting it would be, and this in itself might attract a few more Newcomer's?
Even if they are good at rewording the same e-mail, it would at least prove to some degree that the Shareholders aren't just a bundle of 'inanimate' objects. I've had this impression for ages; You write to Bob, he writes back with something that's supposed to sound plausible. He needs to come up with something totally different next time and this would be IF the situation has changed, but perhaps we're expecting too much?
The filings haven't been released, probably due to the overall cost of the accounts bill being unaffordable at this stage, so they are holding them back. Not sure what position this puts the company in. I think there is some ruling that a listed company is required to list the accounts within a certain time, if they don't, they suspend it.
The information interpreted in all the previous e-mail's should not be construed as 'Progress' but a 'fob-off', as has been all the other e-mail's I have received from Bob in the past: All the same, but different ways of writing...'Nothing much is happening'. Essentially, if there was progress, they would have (probably) put out a public notice and this share would be many dozens of % higher based on 'anticipation', but not necessarily! lol.
As it stands, there is no 'Grapevine' news and no 'Leaks' as is often the case. These would cause the share SP to escalate way beyond what it is today. Even hints on Social Media creates a stir. We sometimes get it here, but it soon adjusts itself back to reality. Another Month gone and still no news for the long suffering Shareholder!
CELABE: They won't mate. If you write to Bob Reynolds, you will get the 'standard' e-mail which I posted on here in it's various forms, each one saying the same thing. Why not try it and see? As far as I and some other's can see it, they're finished UNLESS they get a JV, but in over 18 months, I'm sure they would have found one by now!
These guys are Debt ridden and the witing is probably on the wall with all the Toxic Debt. It's a right old farce, anyone can see this and if they can't, well.....!! Dispite them claiming to be funding the company from their own pockets, it again begs the question, why? If they know why,and there's some point to it, they should tell the shareholder's, but my guess is that you guys are being given the runaround just as people did when they were running PPA which was one almighty con.
After 18 months without ONE single interim Public Notice, it's a 'scam'.
If anyone was going to manipulate this share, they would have to pour in a Kings Ransom to make any sustainable difference at all. Why on Earth someone would do that and waste money would be a Foolhardy move!!
I know what the MM's make, but Stockbrokers/Market Makers sell massive volumes every working day which is why they are always very comfortably off people. They also make from Shorting and Stop losses too and so on. They can often retire at 45.
The Market Maker's would love this share to go up because it may encourage a frenzy of Buying so they could make a whole load of cash, and when they've done that, they will shake it so hard that you will feel the ground move. After that, it will Tank.
JBW: Learn from the professionals.
The CEO's of many businesses are very proficient in doing this and it seems to work for them.....disclaimers on a website exonerates them from any suggested 'wrong doing' as it is always done with 'good intent', even in their heart of hearts, they know they are pulling the wool over Investor's eyes which just encourages them to keep buying more on the anticipation that their business is about to take off. They hardly ever do.
Lack of research means that it's tantamount to wasting money, you need to look at the bare facts that PROVES that a company has the collateral to do what they say with back up support.
FLPC has none of this.
Look into the background of such companies who claim that 'great things' will happen, and mostly this is unsubstantiated BS. You can see it all over the Stock market, yet people fall for it all the time!
With FLPC, there is NO Business plan that is likely to work as they have less than no cash and no funding, neither can they get it....after 1.5 years. Maybe it will change, but unlikely.
Tick Tock.
"What FACTS or PROOF are there to support claims that FLPC did not mine the ore?
There were not only pictures on their social media page, with both Don and Bob in those pictures, but also others with hard hats, the mine, mine entrance, large construction equipment."
PROVE THEY DID!
That proves nothing, but INVOICES AND OUTGOINGS DOES. SHOW ME A COPY OF ONE! I can pose in Pictures wearing hard hats but that doesn't make me a Miner, A Builder, A Foreman or a Steel Working, so 'Posing' IS all it is...POSING! lol
Copperslash: They may or may not have actually mined that 1000T of Raw Ore as I can find no record of any contractor's invoices for doing the job. It may well have been inherited from the site, but cannot be certain. Long termers may know.
As far as mining all that Raw Ore, there are many factors to bear in mind. Firstly, they have been trying to "Restructure" this company for over a year and ahalf , so far with no success as they have found no sponser/investor/funding; call it what you like.
If you have been following FLPC for all this time, you will know they have at least 1.5M worth of Toxic Debt. If per chance, they do actually get any funding, they will be obligated to pay off their creditors, not with 'worthless' shares but hard cash. Taking all this into account, how do you suppose they will have enough cash to pay a contractor to Mine 1000's of Tonnes of Ore AND have it processed? In addition, the Management claim to be funding the business from their own pockets, so they will be wanting it back.
At the end of a very long day, the chances of obtaining funding is very remote, as if it were likely from the start of the "Restructure", they would have got it by now. I would say that physical Mining under current and probably near future financial conditions, will be impossible UNLESS a JV is found who will take on Fencemaker from FLPC and pay them a commission of sorts. This IS possible, but there has been no interest in this defunked, previously Mined twice, Mine. It would involve massive funding to get anywhere near UN-Mined Ore with any worth. Costs would outweigh any sales with no guarantee as what they Mine would be viable after processing.
There IS a possibility that you could make good money here on the basis of a strong Public Notice that says a lot but tells you nothing, if you see what I mean, provided these shares aren't suspended for VERY late Filings which at present, FLPC cannot afford to do. This was in an e-mail to me from Bob some time back.
At the moment this is a very high risk with massive loss potential, but I'm sure you have worked that one out by now? Best CE.
LargeGreen: It would come as no surprise to me if they did suspend trading of this share. They haven't submitted the filings for many months, apparently it's partly to do with "down to the high costs involved" as part of the accounting (Re. Bob Reynolds) but as I'm unsure of the deadline before any suspension, should it happen, this is one of the criteria that could make FLPC vulnerable in this area:
QUOTE: First, it is important to understand the circumstances that might lead the SEC to suspend trading.
They include:
*A lack of current, accurate, or adequate information about the company, for example, when a company is not current in it's filings of periodic reports*
Questions about the accuracy of publicly available information, including in company press releases and reports, about the company’s current operational status, financial condition, or business transactions; etc...
This info is found on a company that deals with some Wall Street businesses that may be in trouble for whatever reason. Nothing to do with and no reference or connection in any way to do with FLPC, only reasons for possible suspension of SOME companies. No innuendo, but a reply to LARGE GREEN about his post regarding share suspension. Before one or two of you start bleating about Libel and all that rubbish, this is a perfectly legitimate post referring to the reasons that a company could be suspended.
Watch the reaction! (They will be ignored!)
LargeGreen: Consider that a good result, you still have 100% what you started with!! You may be better off giving it to Street Bum, at least it would go to a good cause! LOL ;)
LargeGreen: BeWary got there before me. Think how much you haven't lost. Consider that a good result!! lol
RJB: This company never intended to Mine otherwise they would have done it when they had money in the bank. They still don't, so as far as not 'fleecing' investors, well, what company floats on the Market, attracts Millions of $ investment and invests it in what? There is no credible evidence of investment that benefits you shareholder's at all as far as I can see.
With respect, please point out where a sensible investment has been made to help turn FLPC into a cash generating, profit making company. How much roughly has been spent and what on that would encourage a new investor to part with their money? After all, you are here to make money from your investment and if you knew (after they'd been running for say 3 years on spiralling debt), would you or anyone honestly part with a few hundred or even thousand Dollars on a company that's been running on a year on year loss with no business plan and almost Zero production from the outset? No, of course not.
What's that about not Fleecing investor's? Come on! The whole thing is one big scam!