Successful Businessman unlike FLPC
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It's all part of the MCAP, 'Market Capital' and without MCAP, the company will find it hard to move forward which means they don't have access to 'draw down' funds from anywhere to be used for further investment. This is why they are in a pickle!
Shares on Free-float are available to all, but it still begs the question of how or where Millions of Dollars has managed to twist and turn it's way around the system to still end up with just a Website, $1.3M Dollars of Debt because I cannot see (because there's no updated Filings available), as to how the funds have disappeared?
If a company exists on any stock market and it sells no shares, the MCAP is ZERO (It doesn't happen), so this means the company has to ride along on additional funds held in the Bank Account, as they do anyway, but In the case of FLPC, there is 'no money' in the Bank, perhaps a few thousand Dollars but not hundreds of thousands of Dollars. This in turn means there's no collateral or any valuable assets to put up as security.
Any loan to further progress to the magnitude of becoming a producer, MUST be able to put up Security to the Lender. The BoD are unlikely to put their homes on the line for this! The amount of shares in issue values the company for what it's worth. If there.. (and there are)... Millions of share in issue at this very LOW Share price, the company is proved to be fairly 'valueless' and dead, metaphorically speaking. So it wouldn't encourage a lender to stump up vast sums of cash to a poor performing business. It stands to reason as it goes with it's track record and would put off any lender by back-tracking on it's performance to easily make the decision whether to lend or not. It's VERY High Risk and a very high chance of the lender losing the lot, that's if they were daft enough to splash out in the first place!
Logically, this is why we feel that it's virtually impossible for a little company to progress much further than explanation's about HOW they propose to go about Mining, where, who with and possibly when, but not actually doing so... the same old story. It's a question of cheap talk being sufficiently plausible to attract investment indirectly through selling shares, to help prove the company is being successful! It would assist in the lender....lending! Without selling very many, the shareholder will in theory, be in a minority group but has little say, which is why the board most probably hold the majority of shares overall. They can call the tune! That's how they want it because it gives them the whip hand!
Gross mismanagent and dilitary use of shareholder's money with no return. This not worth throwing money into because there's no sign of anything positive happening. They suggested by end of 2015, still nothing and months overdue whilst many remaining Shareholder's nurse significant losses.
By all accounts, News is seriously overdue. The BoD are, or already have, lost any credibility they may have and according to various reviews, had little anyway for their very poor operating of this company.
The Bod's "own money". Ever considered who's money it was in the first place? It's the Shareholder's money which they are using having extracted Millions in the first place. However, the fact that Bob has said this (own money) doesn't necessarily mean it's true and 'Own Money' could be a few dimes every now and again which will still qualify as 'own money'.
Personally, if they were that keen to keep going, they would have communicated on a much more efficient level to keep other potential investor's on the boil. If they were 'Hell-bent' on coming back 'big time', they would have kept up a professional news flow over the last 15 months. They haven't, so my guess is that confidence is low.
If anyone here were keen to carry on a 'big business', I wouldn't mind betting that to keep up the interest, there would be regular updates.....even if they have to print BS, but nobody would know it was, pretty much the same as they've always done.
You have to agree that whatever anyone says, they are VERY Lax in informing PUBLICALLY, any progress that maybe going on. If they cannot do this, then there is little or no progress which means little or no hope of FLPC becoming a producing and profitable company. If they can't do that, the Shareprice will continue to be low with no investment in a Lame Duck until they fold because they won't have adequate financial support. I still think that any new funding, should they get it, be absorbed by paying off Creditors, and additional "running costs", not to forget what the BoD are owed, however much it will be?
End of the day? Any funding is likely to be absorbed as quickly as it appears, no production and no progress even though they may offer a business plan, which, like most previous plans, will never happen. Consider their track record. It's unlikely to change in their late stages of life leading toward retirement.
Pitman: Any opportunity will only be good IF there is a decent business plan. At present, there isn't. I would never advise or even suggest that people should "Get in" without knowing exactly what they are getting themselves in to, not without the FULL FACTS. At the moment, there are no facts, so at this stage, it doesn't make it a good buying opportunity. If people are prepared to gamble with a few hundred Dollars, they could make a killing or not. It's up to them. We'll know more later.
I have no need to phone the BoD as I would probably get fobbed off with some or other what we call 'Clap-Trap' (BS!). Even with my own share holding, I have a feeling that I too, have been had over a barrel, so-to-speak :( as our CEO is starting to become very divisive.
Pitmann: After all this time with no evidence that the "restructure" is actually "Going along fine", it is a little unfair to tell people to "Get in" when nothing has been cut & dried. There is a very great possibility that those who 'get in' on your say-so will lose all or most of their Investment, or should it be 'Donation'?
After 15 months, if I were to invest, I would like to see some evidence or fact that tells me that I will get a return for my money.
Perhaps you can offer ONE salient point that would encourage new investors to lay their money down here, that will prove to them that it really IS worth "Getting in now Folks", not just a "Restructure" that nobody know's anything about.
So far, there is not one scrap of evidence that would make me part with my money here if I were considering FLPC as a potential money making Enterprise. After reading all about them, I would take my hard earned to a company that is actually trading and earning money for their investors, not losing it! At this stage, it would be a very bad move indeed not knowing that I would get ANY return on my cash from this unpredictable shambles of a company.
It's hardly a smear, but hard facts about how the company has drained their own resources, put back nothing and are having to fund it from their own pockets as admitted on at least TWO e-mail's from Bob Reynolds. This admission is self explanatory that informs everyone, including 'Potential Investors' as to the current state of the company.
In case any potential investors do read this forum, they would have realised by now that should they get any funding, it will have to be many Millions and a lot of this will be taken up by paying their outstanding debts of at least $1.3M, paying themselves back the amount they are owed from 'Company Funds', then one has to consider the amount of cash needed to start REAL Mining. Aside from this, where is the cash flow going to come from to support the loan? In fact, who would Loan cash of the magnitude necessary to steer FLPC into Antimony Mining to profitability?
They said so themselves, there is NO GUARANTEE OF BEING SUCCESSFUL, so based on this assumption, why would ANYONE lay out hard cash to a company that cannot guarantee getting ANY cash back at all? That's a VERY HIGH RISK because they have no collateral as security, and it's very unlikely they would put their homes up as security because of the risk admitted by the BoD!
It is a non-starter, if there IS cash available, it is virtually impossible for FLPC to go into Mining because all the cash would all be gone in a few months unless they can prove to Investors they would get a return on their Holdings. In addition, any other investment coming from investors will be gobbled up in 'Company Running costs'! If there's no success, they will have to quit and the lender will have to claim the losses from Insurances, that's IF anyone would insure them given the facts about who they are lending money to!
Again, it's pretty much a non-starter as an actual Mining company to make a profit. The more you dig into the Pro's & Con's of this outfit, the more the pieces don't fit together.
1KGW/Pitman. 1KGW thinks it's in the MIDDLE of a "Restructure" in which case there's another year and a half to go, then Mr Pitman thinks it's at the END of the "Restructure"!
It is very strange because of the varying conflicting opinions, but nothing more conflicts than FLPC being a "Junior Mining and Exploration Company" that's done little exploring any more than the equivalent of an Easter Egg Hunt and definitely no Mining with any saleable product. All this 'Progress' in 6 years. Yes, it's certainly 'exciting' times! LOL.
It rather beggars belief that after all this time, FLPC appears to be no further ahead than they were a year and a half ago, with the exception of a couple of e-mails from the BoD which essentially are the same but reworded just to try to look good. It's still a shambles until they come back with a plan or fold. A little Tiny company like this must have severe problems if they can't get their act together in 15 long months. It's crackers!!
Good! I hope that you reap the benefits of this long, long wait. The last post by Jotuk does tell me that at last they mean business! They daren't go all this way and come up with nothing, so I'm fairly convinced that FLPC at last, will act upon what they write. For over a year, not a lot convincing has come through, but it's a question of keeping the faith.
I expect to see more people buying on the strength of the message from the BoD and the SP rising slowly but surely until they make the big announcement, then we will see how much Ooomph, they really have behind them. I hope it works out for one and all.
I don't like any shareholder hanging on forever and nothing eve happens...I've been there and still am there :(, so let's hope the patience turns out to be a virtue?
I had a hunch that if I shouted to Bob loud enough, they'd send you and update. I mentioned it in a recent post, although after reading it, it's pretty much a revamp of previous messages. It may be ok but I can still see several months before they actually DO comeback....probably. It's hard to predict in what form, though, so it's wait and see again. The Markets may respond to this but more so if it were on a proper Public Notice rather than just an e-mail.
If they do comeback in force, there should be a resurgence which MAY give everyone a chance to cut their losses and even make some gains, but they MUST maintain momentum to make it work otherwise it will just slip back again, bit not to the current lows. GL All your patience may be rewarded if they keep their word.
Reading into all this, they are going to have to get hold of massive funding to keep up any significant program....may be they have? We'll see in due course. Mid year perhaps July/August? All they can say is 'ongoing' which it has been for 14 months.
Refer to your post about Voaden, it's all there. End of.
Perhaps Bob Reynolds should have said nothing, even unofficially? This information gets construde as 'official' if it comes from his lips and taken for granted that it automatically becomes 'factual' once it gets repeated on the Forum a few times...as it has.
People latch on to these things and before you know where you are, it's rife for End of the year! The question is, which year! They are digging their on grave by keeping too quiet because potential investor's will simply walk away and choose a more reliable share where the CEO actually embark on communicating with those who help pay their bills rather than take the shareholders money and do nothing. Shocking situation.
Here we go again!!
Bob Reynolds would not have a clue who's an investor and who's not. Simple!
"Restructure will be updated before the end of this year 2015. It could be any day I don't know the exact timing but I was told before years end for certain."
This is what FLPC told you, but for some reason, they told you a Porky but never sent you an apology? They say one thing but never keep their word. A sorry state of affairs. Why not drop B.R a line and ask him why they seem so slow. They probably won't tell you, they are not obligated to do so?
RJB. The BoD promised that news on the "Restructure" would be completed before the end of last year for certain. It wasn't, so they cannot deliver but gave no reason for their inability to keep their word. In all fairness to the Shareholders, they should have issued an Interim Notice apologising for not keeping to their time table for whatever reason. It's just one component which goes towards not being able to trust them to their word. Not good really, is it? They should have integrity and respect for you guys, but they are really taking the Mickey and using stalling tactics for reason's best known to them.
.....but it seems pretty likely. I have never in all the years I have been share dealing come across a company as dilatory and Lax as FLPC, EXCEPT One!!!
Half the comments on this Forum would never have been if the company played a straight game and kept their shareholder's informed, so as far as being reckless is concerned, the comment is better directed to the way they have have run the company and blown more than every penny to the tune of -$1.3M.
Exactly! As always, "Inverted Commas". Even you said a couple of months ago that you said that you hoped you weren't being scammed, so it has crossed your mind! If you back track a way, you will find it, so thoughts about this company being less than straight are considerable. Can't blame anyone for thinking this either.
14 full months and nowt. You can't tell me that after all this time, that something is not seriously wrong, and they are holding back information that the Shareholders should know. Very dodgy indeed, people know this but won't admit it.
Not many posts these days, but there will be later today!
FLPC is now into it's 13th Month and still no sign of any "Restructure"! Unfortunately, the BOD has let it's shareholder's down BIG Time and has created significant disappointment 'in the Camp'.
Several responses I have had from good old Bob Reynolds has been nothing but top quality BS as has the entire FLPC farce from start to finish. It is now very apparent, that this Tin-Pot little company is almost finished and I doubt if they had any intention of coming back but has lead their Shareholders to assume they will.
Overall, another carefully orchestrated 'Scam'. Today, I will write to B.R and tell him so but I expect he's used to it by now?
Smart Investors are in more reliable shares. Nobody knows anything about the "Restructure" apart from the BoD, if they do, it's illegal!!
As you will have seen, my last post was an opinion and not a suggestion as to how you should manage you shares! LOL
Vatillian: Because of the small amount to get this share to rise, $100 would make it go 'sky high'! The best result will be if the BoD actually comes out with e genuine Restructure for the benefit of all Holders!
Pitman33: This appears to what the BoD has been feeding everyone all along! If they hadn't, FLPC would probably be in a better position to what it is today. If only they had managed their funds properly, they wouldn't have the magnitude of losses they have to date.
So many questions; consider this: for the last year, the BoD have been dipping in to their own pockets to fund the running of the business. If a couple or three guys can afford to do this for 12 months and 'seem happy', how come for the last three years or so have the costs changed THAT much? One mine closed which = a 'saving', then accountancy, Office Rent, the Website would have been paid for, then their salaries, Misc Taxes. What about leasing costs for the existing Mines, but aside from that, there was no significant mining or production (apart from that 1000 Bags of or and the costs of the storage. I cannot see this lot running into Millions of Dollars, can you?
There are no contractors or transport costs to worry about, SO, it still begs the question how the millions of Dollars of investors money came to 'disappear'? If the BoD can afford to run the show themselves from their own funds, but the Millions has gone AND they have incurred HUGE losses, where did it go? The sums just don't add up, especially when we can't see the 'missing' filings to account for the spending. So is it a legal 'Scam' or not? If you think they have been feeding you all 'BS' for all this time, then it's a well orchestrated Scam!
The "Restructure", if it exists, is a hell of a long time coming, so is this BS as well? Nobody know's until details are released or it fails. IF per chance they say, "Sorry Lads, it failed", the chances are there was never one in the first place, at least, not they way it has been construed by their Shareholder's.
It's all a bit like the RTO in the PPA days when they had a fair amount of cash but 'failed to see' how much it would cost in legal fees which absorbed ALL bar 50K of the cash, much the same as FLPC has to date. That RTO was almost certainly engineered, except this time, it' a "Restructure" and so far, the scenario has very similar overtones, but NOTHING Illegal.
IKGW: No "slander", No Libel comments, no implications to theft, but straight forward questions that people would like answers to. That's fair.
Looks as if any 'smart investors' have decided to bail out. This is the 14th Month with nothing....Zilch. Sadly, it appears the BoD has taken everyone 'wholesale' with no plan after all this time. Shame on them for misleading the loyal investors.
Vantillian: No prob's, my shares (UK AIM) have crashed yet again and running at about a 60% loss but they should bounce back. We still have Global issues with China and a possible Global Crash (according to the news today), so I'm not holding out much hope for any market at the moment, plus the price of Oil is 'iffy' again and that affects ALL types of Markets.
Maybe you have been reading the posts here on a regular basis? I know I can preach doom and gloom, but I'm also a realist, always have been but I sum up situations and make an assumption. It coud be right or it can be wrong, but you have to try to be as one with the business and research the company to see if you think it's a good bet.
This company could be good in the long term IF they get funding for the cause AND they manage it properly this time. I don't like to see Shareholder's fall foul of any badly run business and I have been victim of many and lost c$9000 US equivalent with little chance of any significant gains. I will never do Share dealing again as I have money it TWO company's, one totally unreliable, the other is a far better bet and all being well, I could do OK, but I need to get $2000 back to break even!
I like to see people win on their holdings and I hope to see all the guys here win, despite our differences about good old FLPC. It WILL produce a BIG Spike when they come back, so look out for it. I hope it happens for you, et al! I always try to read between the lines in Public Notices ;)
Vantillian: I really hope that it comes good for you and everyone here. It's been too long now without decent news, but I'm sure that in due course you will reap the benefits of your patience. It will be a disaster if they do not deliver, but a little more patience will hopefully be worth it.
Vantillian: Yes, you are correct. It will 'Rocket' so if you have a lot you could do very well. The only thing is that those who do hold perhaps many hundreds of thousands, you may only be able to sell in Tranches of 'X' amount because there will be a lot of Long Termer's waiting to sell up and selling before it drops (if it does) may be difficult as is often the case.
This also depends on exactly what FLPC plans to do for the future and how they propose to invest any Funding, providing it is sufficient to see it through to this company making a profit. Of course, this should have happened a long time back when they had negligible debt at cash in the bank, but it plodded on and on without doing anything and up went the debt to what it is now.
Maybe things will change and a new business plan will move them forward? Up to now, nobody has a clue what will happen, so can FLPC change for the better and prove more reliable this time round? GL.
This is correct, it is until it isn't. Simply put, they always write about the "Restructure" in inverted commas, which is rather ambiguous because nobody know's exactly WHICH part of FLPC they are truly "Restructuring" although it is probably going to be the "finance" section. Inverted commas denotes something which could have a different meaning to that which it's intended, as you know!
In fact, FLPC has been rather ambiguous from the outset, because they were purporting to be going to sell Minerals "Mined in America" and sold all over the US. Whilst it looks good on paper, it's a "White Elephant" as nothing has been sold or properly Mined until they release the details of their plans that may actually work. In reality, it's all been talk and no action, plus they've spent more than all your Investment input. There's no denying that any of the money spent was ever for the long term good (for Investors), as has been proven to date because they are worse off!
FLPC is still the same old company as it was, but with no money and with a whacking great level of Toxic Debt to date. Never mind, good old Bob is bound to deliver something!
They may never have sufficient funding otherwise they would been champing at the bit to get up and running months ago. It's been so long drawn out, there's a question mark hanging over FLPC until such a time they release news. If they ever do, will it be beneficial to the likes of their remaining Shareholder's, or will they just continue to look after Number 1?
As I have found in the UK, all CEO's are mostly 'rogues' who don't give a damn about their shareholders as long as they get investment. Some pay out dividends, but usually only Multi-Multi-Million Pound/Dollar organisations.
1KGW: Anything such as the "restructure" lasting this length of time without a result is 'Fishy'and it is rather 'ambiguous' until it's proven that one is actually being done and they release the details. It is now the 14th Month!! Nothing! No slander (the spoken word), just nothing to prove one is really happening. There's no EVIDENCE, and even the BoD's word is not evidence or FACT, just heresay, so far.
It's all very fishy. 13 months as BeWary says, is a very long time for ANY company to complete a Debt/Financing Restructure. It is however, long enough to gather together enough outside interest/funding under the right conditions and establish a brand new business aside from FLPC to run concurrently with FLPC and use FLPC as a 'Shell' company to filter through new investments from a new business.
It is possible.....vaguely possible, that Mr Voaden (in Liberia) has many contacts with other Aggregate/Mineral company's who he may choose to assist FLPC in a fresh start. After all, the BoD have got a wealth of experience and contacts within this realm of business, so if it helps, why not put the feelers out and see what there is to be had under the right T & C's? Not impossible, which could be why it's taking so long. If there becomes an affiliation with an outside party, this share will Rocket. If this is nothing of the kind, it may collapse. Just a logical thought.
"Let's let him decide" which is precisely what I said! I wish him well just the same. In fact, not just him, everyone else who is 'locked in' hoping for better things. FLPC Owes a lot to everyone here especially integrity and honouring their word as they imply they will do and 'Move the company Forward'.
JBW: Re Quote. "Again, at this time, Management continues to provide the core funding needed to move the operation forward".
This means at this time, they have obviously NOT secured any funding otherwise the last input from Bob would have suggested that 'Funding for FLPC' has or is about to be, secured. This in itself could be via a Public Notice, THEN the share price would soar and the buying frenzy would start which would mean more investment.
If you dare, ask them about funding. A DIRECT question to Bob Reynolds. Is it complete, if not why not, and possibly when? I bet he cannot give you a satisfactory answer, but it is in the company's interest to help promote the "Restructure" whereby so far, they are just repeating themselves over and over again.
Something IS going on but after all this time, the Cat should have LONG been out of the bag rather than them stringing you along. A true Farce. 13 months and nothing? They're havin' a laugh at the Shareholder's expense.
BeWary. I wonder what the result of the Sack of 'Ore' produced? If it were very positive, the chances are they would would have sold the other 999 bags of the stuff based on the % amount of Antimony within the Ore. If it were ages ago, the results would clearly have been 'negligible' and not worth further Assaying.
This would then turn the bags into Hardcore or Kitty Litter for budget resale ;)
""..."*As you are aware", previous raised funds were spent on establishing the Fencemaker mine, readying the mine for operation, the mining of raw ore and the storage of that ore.
Management also investigated and evaluated the selling of mined raw ore overseas and did one shipment for an assessment".
Just one thing, the above 'Previous Funds' could not possibly have cost 'Millions'. One shipment would be ONE small bag costing not hundreds of Dollars but Tens of Dollars depending on weight and size. It could be the size of a Packet of Crips! (Chips). There will be a shipping invoice for that shipment with associated costs somewhere in the Files.
There's still a whole lotta cash to be properly accounted for. The Filings need to show HOW MUCH Funds went towards 'Readying the Mine for operation'. I'm sure that once the "Restructure" is complete and any funding appears, THAT'S when the Filings will be released at some point.
*First line: I don't think many people were 'aware'.
I have written SEVERAL TIMES to Bob asking him to 'account' for the spending not shown in the older Filings, so it looks like you have a reply written to try to keep his Shareholder's sweet.
Don't forget that nobody know's exactly how much of 'Private Funds' will be reclaimed when/if the Funding eventually appears, AND loss of Interest of their own money which would have to come out of the Bank. If it were your money OR mine, we'd all do the same which is fair enough.
JBW: I will not be picking holes in this message. The messages that I have received over the last SIX months have been VERY similar with some slight variation. It is of course a very positive sounding message. I hope some good comes from it for the FULL benefit of the SHAREHOLDERS.
People are getting frayed due to lack of Info. about this dead company. It is unlikely that a proper "Restructure" will ever happen that's beneficial to any long term holder's.
The last time I had a reply from Bob was within two weeks who claimed the "restructure" was 'ongoing'. Essentially, he was fobbing us off with his usual stalling tactics.
BeWary: As the BoD are rapidly approaching retiring age, it is possible there may be a plan to take them up to their mid/later 60s to claw in some revenue for that very reason. Over the last year, they have had enough time to set up another business in 'parallel' to FLPC which could be funded from the revenue accrued from this one and any possible Fund Raising exercise which has supposedly been taking place over the last 13 months.
Whilst this could be vaguely possible, it may be the 'final push' or 'Swan Song' to complete the Hat Trick and follow the same pattern as PPA, then FLPC, both of which made 'no money' so what next? 5 more years or less will take them right up to retirement age, but are they really wanting to carry on from here? It's not possible to assume what the BoD are going to do, whether 'for' the Shareholder's or for themselves, but it doesn't take too much working out. The pattern seems to point in the direction of an easy way to make money without doing much work but at the same time making it look as though they mean business with all the 'Tech. Talk' which could try to persuade Investors into parting with more money? If they do this for a third time and disband the current 'scam', it will just confirm what their motive has been all along. May be wrong, may be right. All we have to do is see what their next ploy is ;) Nobody know's yet.
I had a hunch it was all hot air. I have read passages on a few other sites that also spout a variety of things based on previous performance. Not one site has proposed that the Restructure could turn the company around for the better. They could equally make positive as well as negative comments and let the readers decide whether or not to take a chance. In fact there appears to be very few reviews that even mention a Restructure and the possibilities that go with it.
If it's written and put on the 'Net, words and phrases should bring up the Mag. in which it is written and you can search through until you find what you want. You know how it works anyway.
I have a mass of work to do before home, be here till 8pm :(
L&R: The link doesn't work but it can be found through Google. I believe you need an account to log in for details. You can always copy/Paste the details here on FLPC for all to read. There's also First Liberty Power which is nothing to do with FLPC which HAS been listed by people as a scam.
It was written is such a way as it appears that some FLPC shareholder's have a problem in evaluating their position and also the companys with little sense of realism as to perhaps why they are still in Limbo. Sometimes it needs to be spelt out to the Nit-Picker's who have little all else to do than dissect every sentence that people write to try to qualify the Company who, perhaps, have no sense of perspective that deems it necessary to re-write almost anything that comes on to the Forum, verbatim. Having it all again allows people to read it twice, making doubly sure that FLPC is what it is, and that's one heck of a mess!!!
RJB: There's no 'hatered'of ANY single Shareholder here. The main issue is the BoD are the one's to be concerned about. They are the one's who are not coming up with the goods. Ask yourselves a few simple questions:
What has the BoD done for all of you, what ARE they doing for you and how in the last 13 months have they ever offered you a single shred of hope?
It is easy to answer those questions with pretty much one word: NOTHING. It begs the question that it appears that perhaps not ONE person is very concerned about giving the BoD a hard time in demanding some fair and meaningful answers. If you don't, who will? If it is left to rest, the BoD will just rest on their Laurels and continue to do little or nothing to help you guys.
When and if they come back 'online', there's a fair chance the SP will increase simply because they have returned. What they come up with is anyone's guess. Try writing to Bob and make demands, it may chivvy them up to get their finger's out.
Your call guys.
Let's weigh up the odds of this alleged scam.
A company that has blown every penny and MUCH MORE, of the Shareholder's money, never returned any value...TRUE, never mined anything to sell, had to 'put off' 'operations' of one of their Mines due to costs...TRUE, inability to pay Internet service Provider Fees...TRUE, Inability to re-licence the company name when it expired...TRUE, vast amounts of Toxic Debt...TRUE, non-payment to many Creditors, having to fund the company from their own pockets...TRUE, having to go through 'Debt "Restructure" or Debt Management company...TRUE, a website that tries to sell FLPC as 'progressing Junior Exploration and Development company that effectively has never properly explored or seriously developed anything to benefit shareholders...TRUE, one full year of non-submission of Filings...TRUE, the issuing of worthless shares in lieu of Debt to company's who didn't realise the shares would be worth nothing and lost money...QUESTIONABLE, the buying of Millions of shares by the BoD in order to gain a monopoly holding...TRUE, NO CONTACT with shareholder's via a public Notice of 'Progress'for OVER ONE YEAR...TRUE, No significant investment of MILLIONS of Dollars that shows ANY progress to benefit anyone who has bought in...TRUE, significant amount of Internet bad press...TRUE ('PINK'March 28th 2013, $362,069 operations loss. PRINTED FACT. ) And finally, no sign of the BoD daring to announce anything to benefit anyone because it is becoming very clear there is nothing worthwhile to say...QUESTIONABLE. The sum total is that it is very likely FLPC will or is on the borderline of closing down...Questionable.
QUOTE: It is unknown how the company will fare in the near future, as it promises to put to market several minerals with the "Mined in America" the central feature of their products. The latest press release from FLPC is the promise that antimony mining will start soon, and that lithium, uranium and others would follow soon. It is unknown how the company has managed to secure the $2.6 million funding that was mentioned in its press release, but there is a mention of an upcoming "structured finance" deal for a total of $3 million. Given the company's lack of revenues, such a line of credit may be exchanged for shares, at the danger of dilution and insider sellingPRINTED PROOF AND FACT.
If this isn't a calculated scam. it's the nearest it's going to get.
All the above is HARD EVIDENCE AND UNDENIABLE ACTUAL FACTS. PROVE that none of the above is not true.