Successful Businessman unlike FLPC
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This is true, it's not worth pressing the sell button especially if your holding has dwindled from say, $1000 right down $50 for example. You may as well sit tight and let it take it's course. In any event, the "Restructure", even if it's for Debt reduction ONLY, which I believe it is, will still see a Share Price increase because it's a big PLUS point for FLPC. Whichever way it goes, it will be almost certain that however much 'surplus' is left over, if any, the BoD will take what they are owed for dipping into their pockets to maintain everyday costs which spans out over many, months.
After everything has been taken into account (and BeWary's Toxic debt spiral), there will never ever be enough cash or outside support to create a profitable Mining and Production company out of FLPC, it can't happen as the costs for this Tiddler would be Astronomical and beyond comprehension.
It may all look good on the outside with a nice Website and accompanying Text, but at the end of the day, as the saying goes...."You can't polish a Turd"!
Caring about today or next week isn't the issue. It's the Potential Investor's that should consider whether or not it's a good deal at the price it is. I don't see much buying going on that denotes FLPC as a Good buy. One would have thought that with all the encouragement to buy, you would see a flurry of would-be buyers snapping up as many as they can by now, especially with just a few weeks to go before they announce the details of the "Restructure".
Are you sure that all the recent hollering about how great this will be hasn't put people off? Well, possibly not, but I would expect to see a lot more interest in this share now. I wonder why it's not selling? Still time yet for those 'sitting on the fence'to take the plunge! Hope they have a good Life Jacket at the ready!
GO FLPC!!!!!!!!!!! At least for your Loyal Shareholders :))
Come on BOB R. Show them that you REALLY mean REAL business, not just a load of old Baloney! Don't let them all down, they've waited years for this, and especially, don't let yourself down by not delivering.
Not much "weeeeing" going on today! More like Oooops! slipped back down again. How predictable is this share?......Very! Perhaps soon it won't be and the Little Piggy will go "wee wee wee" all the way to the Bank! lol
50% of 0.0001 is almost nothing, barely a fraction of a cent. It will drop again unless people buy Millions more shares which will mean a sustained short term rise before a retrace. If they buy vast quantities of FLPC, GL to them, it's not news that is putting the SP up, just a few buys. See what it's like in 24 hours.
JBW: I see that you have a whole load of hypothetical Q & A's obviously geared from your(biased) perspective! Fair enough...so would I! The reality about the company as shown in the filings (the one's you CAN see)isn't just mistakes by the BoD, it's downright carelessness. Although it could be a multitude of thing!
Whilst these guys appear professional, the company losses say otherwise. I'm not interested in Questions & Answers as such, but for the benefit of you guys, I would like you to see the BoD come up with some salient answers for the losses or squandering those Millions of Dollars that you have entrusted them with to make the company work for YOU.
Naturally, they won't answer these questions and if they did, it would be a more direct few lines.
Sorry folks, but didn't you read the small print? It said the we could not guarantee the company would deliver results. It goes with your risk to invest. We believe that we spent the shareholder's money with good intention which was to try to make FLPC a diverse Mining Company for the good of the US. Sorry it didnd't work out. (Tee Hee!) I bet that ALL the BoD have a laugh that sounds just like Mutley in Whacky Races when the look at the Filings!
In their next breadth, they could say:
The "Restructure" is complete and we have access to NEW funding (please note 'access'), which if you read the small print again, means that we may not get it. BUT we think we will, so all you Shareholder's, please re-invest in FLPC as we think (think)that we can make a go of it this time. (But there's no guarantee we can promise results, a bit like our last effort!)
All they may do is have a re-run of the past few years, where "The Bookie never loses". Think about it before you throw away more money. The "Restructure" may not be what you think it is. It is highly unlikely they will obtain funding to pay 100% of their debts, which is probably what it's all about. As sure as Eggs is Eggs, they will not ever manage to secure enough cash to become a fully fledged Mining company AND service the debts/Bridge Loan costs. FLPC is likely to remain just an Office where they sit their and calculate what to try to do next to keep them afloat. Hmm.
JIMBOBWALNUT:
"This is Pennyland. That doesn't even happened with blue chips. I think you're completely unrealistic".
With a company like FLPC and it's diabolical track record for losses and debt, my post couldn't be more realistic. It's been such a disaster that anyone considering financing this Shower will need to ascertain whether or not it's worth the astronomical risk this carries. Pennyland or not, it's even more important for the Financer to establish whether they will ever see any of their money back or not. If in doubt, leave it out! lol
Biff. You've been splashing out again, now you can have that Double Brandy!!
1KGW: Glad you are upbeat, it's the only way to be. "Financing in place", but I think this whole thing is about paying of debts to creditors with their Financing company. When their book is clear of significant debt, there may be a way they can achieve more funding to move forward, but it will cost vast amounts of money and I really don't think it's possible with this company as someone will have to stump up lot of money against what they would have to see as a viable business plan. Without a plan cast in stone, they won't get the money.
Any business plan will have to be scoured for flaws, etc. It must be 100% accurate and 'infallible'. We'll see.
RJB: Good post.
It makes no difference who's been in the Mining business. If you read about it, which I do you get to know some of how it works. If you know business, and I know a lot about that, being good in business goes a long way to how you do well in the trade you are in. With regard to FLPC, they don't appear to know very much about either, otherwise they would be as deeply in the S**t they are now.
RJB: The basic difference from becoming an Exploration company is to develop Mining projects together for pre-feasabilty stage, after that, the company then pays up for the actual construction of the plant ready to begin Production. I do believe that the Plants were already constructed but they didn't progress with any more than basic Drilling for testing samples, that's all. FLPC couldn't afford the cost of building Plant to do this job anyway as their year on year losses showed.
Whatever the title of the company, doesn't mean it's getting more profitable. The long and the short of it is, they haven't properly mined anything suitable for resale. Their debts are too high to even think of production. Their position as a producing, Mining Business is essentially, untenable. The existing Filings will show you why.
Time is ticking to find out exactly what their proposal's will be.
RJB225: "Almost a year of doom and gloom from non shareholders and FLPC is still trading and progress is being made on the restructure".
This makes a total of around FIVE years of Doom & Gloom awaiting for FLPC to actually come up with some truths about what they really WILL do apart from kept you guys stringing along for all this time. Rare Earth funding from what source, US Government? Unlikely with trillions of Dollars deficit and continued bashing away in Syria costing billions more.
Aside from this, I cannot see that after they have re-jigged the company, Vacuumed the carpet, made a nice cup of Coffee they will/have come up with a plan to get all your money back, even if it's just break even. No cash means no Mining, just continuing debt. Who will come to their rescue? Not the good old shareholder's, it's far too risky now. Chapter 11 maybe, but I thinks it's passed that stage.
As far as I can see, there's no Millions to be had for these guys, not yet unless there's Master Plan in the offing? Don't forget, they'll want all their un-trousered money back too! I bet they suffer from 'short arms and deep pockets', especially when having to cough up for 'dues'. lol
You will probably get a 'New' FLPC with a 'lick of paint', that's all. The "Restructure" as per Bob, is to try to clear all/some of the debt. They still need incometo service the debts. With nothing coming in, it will be tough, but if they are going Mine and progress any Ore, the MUST have cash. Bear in mind my recent post, the have to get funding from somewhere and with funding comes having to pay it all back! Will there be enough to 'Mine' and process, which will take millions and millions? No, there won't. It isn't just going to appear out of the blue. It's highly unlikely but a partnership is still the most logical scenario for the brave investor. This way, they won't need to outlay too much cash for a % of the profits.
If FLPC tries to goes it alone, it won't work, they need assistance, that's for sure.
Wonder why they fell out. Maybe they didn't pay him and offered him shares in lieu? LOL.
Ruddytee: This could potentially be a JV for this company if they don't for much up front!
I rather think that the bulk of this "Restructure" Program, is to try to source funding from a type of Debt Management company and raise cash through this Bridge Loan to pay off the huge debts they have. If you read Bob's attachment again, you will see the emphasis is on DEBT consolidation. I also think (but cannot prove) that a few of their Creditors have applied alleged Legal Action for Debt recovery, hence they have applied for the Bridge Loan to partially satisfy Creditors.
Because they still have vast amounts of debt under their belt, this "Restructure" is to try get a clean slate. There is nothing remotely linked to becoming an active Mining Company with drilling and production. I would at this stage, say that it is impossible for them to secure enough cash to actually start Mining. They will have the expensive bridge loan to pay back, so how they can do that AND initiate Mining at the same time, AND turn a profit to run this company? This would be an insurmountable issue and the cash flow would be so small with nothing going out, as to be nothing more than an Office being run under the FLPC name.
FLPC has been broke for years, so how do you think that with so much debt, a possible bridge loan, the day to day running of an INACTIVE Mining business PLUS to commence active mining, they will fund this lot. The debts will need servicing, and with no profit and no cash in the bank, how do you propose they will do it? Any Mining company and any Credit Reference Agency will by now, have them Black Listed against debt. Knowing this, who do you think will loan them MILLIONS of Dollars to ATTEMPT Active Mining. Nobody!
Put yourselves in the position of a Multi-Million Dollar company that is aware of FLPC and their track record. Now, would YOU offer them Millions to get going with no certainty of getting your money back? Of course not, you would invest it more wisely in a REAL producing business that has a significant PROFIT track record and an excellent Credit rating for paying bills. A JV is not out of the question, but this "Restructure" is becoming quite obvious that it's all about clearing Debt and not future Mining...at this stage. This is why FLPC has been putting the word "Restructure" in inverted commas as the implication of this word is not quite what people think. In my opinion, it won't be Restructured to Mine. It's far too expensive, it will be Restructured for debt reduction. Anyone who thinks that buying millions more shares will do it for them, will not be enough. The Investment from selling shares will be far too small to turn the company into a driller and supplier of Antimony Ore. If they still own a lease or two, they could sub-lease it for a share of profits without the cash outlay.
Yes, I know. Not long to go now. I want to 'see' a lot of smiling faces on here by December, everyone does. You guys have had it tough for too long, so hopefully, your enduring patience will be rewarded.
The share I'm currently in should also have moved up by December and benefits should come through by January when the Oil company I'm in starts to get a percentage of the 'spoils' from production. Mexico has a Billions of Barrels of Oil just waiting to come up, but nobody to get it out and their reserves are depleting. Major company's will be bidding for 'Blocks'. If anyone is into Oil, research Mexico. Potentially, there are significant gains to be made IF you choose the right company.
"Since none of the BOD have run for the woods or "trousered" company funds......"
That's because it's all gone already! lol. If they get more funding, don't forget they will be keeping a tally as to how much they're owed, so they will be claiming it back again plus loss of interest:))
We'd all do it!
So there you have it in Black & White! This is what I based my post on, so you can see I was up front with the info. My guess about Fencemaker is fairly sound, so watch this space. Some time ago, I badgered Bob with a couple of e-mail's asking him to get on and let your poor old shareholder's know you care and give them a long awaited update as they deserve it.
Whether my e-mail or anyone else's precipitated this update, I don't know. Maybe it was due anyway, but it's here. As long as it's not all smoke and Mirrors, it all sounds very genuine to me. Let's see how you all get on from here. It could even make the SP twitch a number of %?:))
RJB: No, that wasn't as I didn't receive an attachment. The response I got went into a different e-mail user name so I failed to check it. The note about Fencemaker is about end June. I doubt they'd say it was being Marketed again and then shut it down within 3/4 months of that announcement! There finnacial position would be much the same in June as it is now, very roughly. If it's incorrect info. great! They could be all at sixes and sevens with themselves, but this is what I received. All is not lost, and everything to gain. This is based on Bob's writings to me back then, so I read it and read it again, so it may come good sometime soon.
Don't forget, my take on Fencemaker is only guesswork, but reading deep between the Lines, no other Mine would be viable to my knowledge, ONLY this one. Putting two and two together, this could be where it's at. DON'T HOLD ME TO IT as things may change at the drop of a hat. FLPC have chopped and changed with a few ideas, so there's no telling for sure what they have up their sleeve.
Light at the end of the tunnel? Maybe, Fingers crossed for you guys.
MARKET MAKERS, TAKE NOTE! The above is WHAT I HAVE BEEN TOLD VIA E-MAIL. It won't be 'Top Secret' as he wouldn't have mentioned it to lil'ol me!
Part of the "Restructure" is to do with a couple of the BoD leaving the business, so this means different people have to go about different jobs. Some of this "Restructure" is like a Government 'Cabinet' Shuffle where they choose new people for new job titles. There are no more than 4 Board members, but I reckon that an 'Internal Shuffle' could be organized inside a couple of months. Not the case as clearly, other things are going on.
As we know Antimony IS under Fencemaker, my assumption is that this will be where the main part of the "Restructuring" is taking place, so it's probably all concentrating on this Mine which is where FLPC's future lies. I believe there will be a concerted effort to get funding (somehow!)and they could be organizing outside contractors to come and get the work started. This may be where you will get Value....eventually. I also think that some funding will come from other likely Investors who will take on this mine with a vested interest and work alongside FLPC as their Joint Venture.
This is a guess, but I think it may be fairly accurate. See whether or not the Share Price reacts. IF it does, this could be their saving grace.
Did anyone know they were marketing the Fencemaker Op. again and working on a Bridging Loan to bring the Filings current and up to date?
RJB: OK, thanks. When I sent him an e-mail earlier, he asked me if I received his e-mail with an attachment. It appears that he must have been sending out attachments to e-mail addresses. I had a couple of questions about Antimony. His reply was:
"The company sent out an email today with an attachment, please confirm that it was received".
Best Regards,
Bob
I said that I received nothing, so I assume he sent out e-mail's with the attachment to all the addresses he had stored in his Address Book. Mind you, he wasn't specific about whether it was sent out to me, or everyone. He does say AN e-mail rather than the plural 'some'. I asked him to re-send.
Bob's e-mail....has anyone had it yet?
GENERAL: Has anyone had an e-mail from Bob today or very recently with an attachment? He said that one has been sent out, so there must be something to report.
1KGW:
You can see part of your PROOF here on page 24 and 25 of the report. All they did was DRILL for Core samples and Tag the bags, the put them into storage 'for later on'.
To me, that's NOT mining, it's Drilling for testing. BIG Difference. There has NEVER Been any actual Antimony extraction OR sales. If so, PROVE IT!!
1KGW: "I would love to see PROOF and FACTS that FLPC never mined Fencemaker or produced antimony from the rock"
You seem to be friendly with the BoD, so, ask Bob how much Antimony was produced. The answer you will get is NONE because it was NEVER assayed due to it being too costly if it were found to contain very little Antimony, so they didn't do it! The 1000 Bags is NOT all PROCESSED Antimony, it's unprocessed Ore that contains SOME Antimony but they are not quite sure EXACTLY how much. If it were processed, they would have sold it by now if the price was right against extraction.
GO ON, 1KGW ASK BOB and he will give you 100% Proof which is what you have asked for, then place his response on this Forum. If you don't do it in the next week or so, I will, and I'll put his answer here instead! Either way, you get your PROOF and FACTS, as it's not top secret as the stuff in storage by his own admission!!! They DID Mine Fencemaker, but not with aggression, just testing it. No sales of Antimony has ever been accounted for.
RJB225: Technically you are correct, but they only Mined 'Chips' for testing and they never actually got round to testing it because it was too costly, hence their alleged 1000 Bags is still in Secure Storage. So, to really be a proper Mining Company, they needed to assay it, extract it and the sell it, but it never got that far but it COULD have done if only they'd kept hold of the Millions of Dollars of shareholder's cash and used it wisely instead of it all disappearing into the Ether.
This begs the question that this BoD were never going to achieve this goal otherwise they would have made a big noise about it and got on with the job which they should have done from the start: MINING. It seems to me, they had little intention to go much further because they seemed to have found it rather difficult to part with all that cash to benefit the Shareholders, hence it's vanished and also they didn't pay their creditors either.....and they could have done as there was plenty there, so what have they done with it?. Costs? Hmmm.
DOCKZEF: Fencemaker as you know, is closed until further notice. I assume FLPC owns some or all of the Lease? (50% Interest). If all this Antimony Ore is down there, then maybe we will see a Sub-Let of the lease to another party who have the cash to get it out, then(as I mentioned)pay FLPC a percentage of profits once processed and sold. The problem here is that in the meantime,cash flow for FLPC is going to get worse unless they can get hold of enough cash to Tick over, should they go down this route of a JV with Fencemaker.
If this does happen, and again, it's a guess, they are going to have to promote this early on so as to get Investment Revenue into the company so they can actually maintain the business without have to constantly dip into their own pockets. If they want to do any serious Mining, it looks as if Fencemaker could be taken out of Moth Balls and will come alive again as part of the "Restructure" should this "Restructure" happen. After that, let's see how long it is before Fencemaker delivers, that's if they go the whole way with it.
I have something in the back of my mind about this Field IF it comes back online, but won't put it here just yet.
DOCZEF: Proving more interesting with your last paragraph. This could imply there will be an almost certain Joint venture between FLPC and 'Joe Bloggs' with a profit share for funding. Someone has to pay to do the drilling, extracting and processing, then a %age of X once it's been sold.
TFT Screens used in Digital Cameras, etc, so there may be and advancement in these apart from the obvious Phones, Sat Navs, Tablets and other such devices. Speed of operation with better conductivity and longer battery life, great for Electric Cars and may prove better longer term with the need for Range Extenders in some case, but they alleviate Range Anxiety. Batteries will be MASSIVE Business, far more later than now and we have seen leaps and bounds in the need for high performance batteries with Lithium ION from the early 80s, at least in my business anyway. So Antimony will be in huge demand across the civilised world. China, India, UK, US and so on. Bye for now.
What says you?
AKA: I have been doing this sort of thing for decades and bearing in mind WHO we are dealing with, working to high standards is all well and good for the business that you or I are in, but when you are dealing with a CEO who isn't allowed by law to reveal too much, all these questions may be ignored altogether. Fair enough.
I have been in touch with Bob Reynolds on several occasions, and have written a variety of questions to which I would have expected some fair and reasonable answers. He did reply, and gave me what he would deem as fair answers bearing in mind his position and what FLPC are trying to achieve. The answers were lengthy, but actually said nothing at all! This is why rattling off all those questions may well get a response, but skirted around with probably no direct, forthright answers. All you can do is submit the questions, and put his response here for all to see. After all, if he says it to you as an Investor he may as well tell the world. It would be interesting for everyone here to see what else he has to say, if anything.
Like you, I expect a good standard of response to the letters/e-mail's I write where possible, but remember that we are dealing with FLPC! I have posed some very sensible questions and to the point. After a few days, I received a whole load of rubbish back...pretty much what I expected.
I have been in my privately run business for 25 years next month, so I have pretty good idea what to write and how to write it. With these guys, Blood and stones comes to mind. See what happens.
AKAWW: I think they only question you need to pose to Bob Reynolds is: "After the "Restructure" has been completed and announced, are you confident that it will prove to offer significant value back to your Shareholder's in the short to medium term"?
This is ALL you need to know without posing complex questions for him to try to answer. The chances are that you will get a standard reply saying the "Restructure is ongoing and nearing completion".
Make it short and simple. He can imply yes, no or should be. If FLPC is confident and upbeat about this new scheme, the answer will be 'positive'in itself. If they are non-committal, and won't say ANYTHING positive in relation to this "restructure", then it's a farce. All you need is to read between the lines as to whether it's "Positive" or "Negative". Surely, if he is upbeat and the e-mail reads well and he sounds excited, then he's as good as 'committed' to giving you back some value. If it doesn't tick those boxes and he has implied that all will be well and it goes wrong, then he will have been knowingly telling you Porky's! Simples!
1GKW: "I don't worry at all because I have formulated my own opinion on what I think FLPC is doing and where this stock is headed."
Perhaps it would be a good idea to consider sharing this with your fellow Shareholder's as we do in the UK? If you are positive about your feelings, why not further promote the company and in addition follow it up with "GAPPING UP, BUY YOUR SHARE NOW!", piece? I am sure it could be justified. As yet, not one single shareholder has offered an opinion as to what they think FLPC will do.
My Forum over here would be rife with speculation and opinion. It helps keep the interest going rather than touting the share without knowing the plan. Your opinion will be respected by all, I'm sure.
Bob won't say anything and why should he? He could be more upbeat in a Public Notice, but he's 'lying low' at the moment. His business, his choice, but it would be far fairer of him to offer proper communication rather than people write in just to get the same old "Progressing" e-mail. A Public Notice will prime other Investors to consider taking a gamble and promote the business at the same time.....Marketing is important if they are confident they will succeed, so why keep it so much under wraps? If everyone is happy with that, so be it.
Whatever happens, have the rest of a good weekend :)
RJB: What do you will happen, re. Bigger and better things? We can only assume what could happen. I put my assumption on here a short while ago, re. a JV, but I think it's impossible for this little Circus to be a fully fledged Mining company all by themselves. The costs would be massive and a non-starter. At the moment, the BoD aren't implying anything except they are 'progressing' with their "Restructure". They have offered no clues at all.
They could end up with a JV as an Investment Company in Mining, but certainly not as they are. If it fails and nothing comes of it, they will probably close the doors. It also highly unlikely (IMO)they will get funding to be a Mining company without outside help. If they get backer's and lots of paperwork, someone could stump us some cash if a deal is cast in stone. If they stay as FLPC and they get revenue, this will have to go towards paying off their creditors as if they didn't, they could sue for their money back. A lot of their Creditors have taken shares in lieu of debt, so if they stay as FLPC with a sound plan, the SP rise and then the Creditors will TRY to cash in....with luck and a following wind!
The BoD are staying quiet, but they are not really doing much of a job in promoting their "Restructure". If it were worth while, they would be making a lot more noise by now dues to their renewed enthusiasm.l I cannot detect any such emotion.
Great! It all makes perfect sense now. However, that was back then, so it doesn't really mean that much any more unless they start producing loads more after the "Restructure". The fig's published by DOCKZEF will once again mean something rather than be just an historical document. Won't be long now before you hear news which is hopefully, what you want. Just few more weeks to go before they release all the details!
1KGW: Actually, what you say is true. Essentially, they Mined 'Chip's to test but what they have is actually uneconomical to assay due to the likely percentage of Antimony probably being too low so they never went further due to the fact they couldn't afford it.
The 1000 bags is still in secure storage (forever!)This was the one and only time they actually tried Mining, so effectively, it was a flop.
BeWary: Two ways out, Chapter 11 Insolvency or name change to clear the debt. Problem is that Chapter 11 may require sale of assets whilst they continue to trade as FLPC. Kodak did this, they sold of about $40M worth of Patents top help clear the Debt. If FLPC starts up a similar business with a name change, they would have to Bankrupt the existing business and start afresh under a different title like 'ACME Power Corp', then they'd be absolved of all liability. It's what we do here. Guy across the street from me has a Toy Shop in the Shopping Center just up from where I am now. He went Bankrupt and re-opened under his wife's name. Same type of business. He sold Old fashioned Toys made of wood etc., but the kids want electronics these days, so his toys would only be good Firewood.
I doubt FLPC will 'Bust' themselves, but I still maintain a JV with an understanding partner, maybe be based in Liberia!
RJB225:As you will see, for reasons that may not be known for sure, you have 100% rise. It may be the start of things to come. If it is, it will carry on rising, if not, there may be a retrace. You will also notice that the amount of trades in relation to this rise, is less, but the rise is higher.
I am sure that you will now feel a liitle extra excitement in the air. If it goes to 200%, without extra trades (unless not registered yet), then things are getting a move on!!
RJB225: In the UK we have a few 'codes', ie Code 1 may refer to imminent RNS (Public Notice) Regulatery News Service. It may just be trades which tie up loose ends to 'balance the books', or it could be a code from one Market Maker to another, but unlikely. Essentially, it's a guess. If you look online about small trades on Stocks Charts and the reasons why, it may give you a more precise answer, if you can find the details.
Those considering buying in should read ALL the last Filings, this will give you a picture of how the company has performed, all the losses that have been made and the $100,000's this business still owes. They have never turned a profit in FIVE YEARS. If you think this Leopard can change it's spots, then spend all your money buying these shares.
Let's see if you can make a profit, but will you spend all this money on a company that as yet, has no viable business plan visible? You will be buying blind into a company that appears to have rather a Chequered trading history. Wait until the results of this "Restructure" come out, read between the lines and make your own mind up.