Successful Businessman unlike FLPC
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What someone needs to do is call a Shareholder's meeting with the BoD and try to gain a vote of 'No Confidence. Highly unlikely either of those suggestions will work, but some major Shareholder's here (if they hold more than the Board themselves)should try to get this motley lot to get their fingers out and send out some positive signal's to you their Shareholder's.
The problem with this BoD is, they won't ever agree to a meeting for fear of being put on the spot and into a rut they can't get out of. All they will do is keep spinning the yarns via e-mail's and phone call's.
Any e-mail that contains anything that remotely mentions a scam or mismanagement of Shareholder's cash will be ignored or rebuffed over the phone. Paying them a visit could be recorded as a possible threat or Public Order Offence if it got heated. Even a Court Injunction to stay away. Catch 22.
Re Rogues etc: Essentially, just about every company who takes an active part selling shares on the SEC and the UK AIM. It's full of them that care little about their shareholder's and only for themselves, so it's 'Collective' term ;)
I am on the UK AIM and believe me, I have lost a lot to promises by CEO's over here. About $3000, maybe more. It leaves a bitter taste. It begs the question, why do we do it, well we all know the answer but more often than not, we lose! This is the last time a play the Stock Market. The risks are too high. I used to be able to afford it, but now my 'position' has changed and not for the better, so making the best of it as I can. GL to all of you.
I used the term 'Rogues and Charlotan's' loosely but it's true in many cases!
BIFF: As long as you're only 'planning' to buy more, that's a good move. However, you may be better off giving it to good causes or a Charity so you can see the results and have peace of mind in knowing that you have helped someone less fortunate than yourself. It all goes to help your Salvation rather the feed the coffers of Rogues and Charlaton's!
They say that money is the Root of all evil and Power Corrupts. Absolute Power Corrupts Absolutely. First Liberty Power may be a little different, not by much though. ;)
DON'T FEED THE ANIMALS','BEWARE OF THE DON'!
IGKW: Post 61457. Reynolds never did. Bet he learnt a few tricks though ;)
I think BeWary is correct about the Antimony being pre-mined and left behind by the predecessors. As far as I can see, and if you back-track through SEC Notices, FLPC never said they were actually extracting Antimony at any time. If this was the case, who was the company that did or were hired to do the drilling/blasting/bagging of said Ore. Who did they pay and where is a record of that payment if they actually paid them?
This 1000 bags is an exact figure. When mining, you don't stop at 1000!! it could 950, or 981 or even 1023. I have my doubts as to whether it even exists or even OWNED by FLPC.
"We have 1000 bags of Antimony in secure storage," doesn't actually mean they own it! They could be looking after it in a leased shed with a Padlock until the true owners decide what to do with it. This is conjecture only. Bob wrote to me and implied that we are waiting to assay the product to see what is worth processing and extracting, but at present, costs were too high to do anything with it. So there it stays. It is very possible that the "we have 1000 Bags" bit is quite so, but not in their OWN storage facility, but in secure storage owned by the guys who drilled it, but not released for processing until their work was paid for! Effectively, it is inaccessible to FLPC. Maybe!
Pitmann: I think they were far from inept! They knew exactly what they were doing from the start.
They already had plenty of practice with PPA and it rolled over to FLPC. Dissecting through a tin-pot mining company is pointless.
Just nobody be tempted to pour any more cash into this outfit however rosy it appears, and don't be fooled by the "Restructure" if it ever happens. Looks are often only skin deep.
Pitman33: If you add it all up and 'consolidate' in your mind,
all the information over the last 5 years, you will and have arrived at the same conclusion as myself, BeWary and a few others have been trying to put forward all along. The sums are: FLPC + Scam + $several Million + BoD, - running cost. - 'salaries' + BullSh*t + "Restructure" = 0.
I know you and everyone else is disappointed, that's understandable. I have even written to the BoD but NEVER mentioned the word Scam. I didn't need to if you word the e-mail diplomatically.
If perhaps all shareholder's call a private meeting or organise a Q&A e-mail to the Board addressing ALL the issues you would like answers to, Bob will either a). Not reply or b.) Enlighten you with further details about how FLPC wishes to continue. You have all the contact details you require.
If any such reply is received in some detail, following this response will eventually tell you all that they have: Shafted all their Shareholder's or: Prove they can do the job they originally set out to do which was (allegedly) Offer you guys a thriving, Mining business.
If you write a good e-mail, you may even be able to pin them down as to why all this cash has vanished and where it went with no fair investment to input, (less costs). I doubt any of the BoD would reply.
I would be inclined for some of the highest volume Shareholder's to call a meeting and have it out with the Board and see if they agree or try to wriggle out of it. I think they would Wriggle out of any meetings for obvious reasons of ridicule and bad publicity.
PITMAN33: That was my impression too. My guess is stalling tactics and sweet talk, but I could be wrong. His e-mail was 'sincere' and he did say that he doesn't get involved with the Forum...EVER! Can't blame him really. He wouldn't want the stresses and strains of one or two guys here, especially Mainesbest who may have been sent up from somewhere much hotter! LOL.
The impression I got from his most recent e-mail was that "I like you all very much so please keep the money coming in and I will reward you ALL with a brand new FLPC which is full of hot air about mining Antimony which I really mean we are going to do....very soon, Honest, but there are still many people involved in the "Restructure" which we need to deal with before we can come back again with vigour". Kissy kissy.
Whilst I am not going to copy/paste the actual respsonse here, that last paragraph was my interpretation of his e-mail to me. Harsh? no, not at all but I reckon fairly close to the mark!
IGKW: At least someone is in touch with the BoD. It's just as well because few people seem to write in anyway, at least they don't say they do but why should they? Even I have written in to Bob on occasions and I get a replies, fair enough. I write fair and reasonable questions and the answers are rather non-committal which is to be expected. Even so, a few e-mail's and a few replies with all the responses 'as one' over time, say a lot, but tells little. What the replies really consisted of was essentially, nothing much with Zero content, except that, *"We will be addressing the Shareholder's with updates on the Restructure in due course". That's all they say which can actually be true. The rest was just a normal polite reply.
*That is not verbatim I must add, but the general response. They should at least let the Shareholder's know that 'it's all going according to plan, so far'......even if it's not! They have to remain positive.
Still interested to see when this so-called "Restructure" is announced as imminent. Months, and no sign of anything! All this LONG time to re-jig a company shouldn't happen, least of all without keeping those invested up-to-date. They have your cash, so you have the right to know. Don't sit on your Laurel's without making a fuss to the BoD, they have a legal obligation to give you all an answer if asked.....a plausible one at that.
The SIMPLE Fact is that here, implies to those who are blinkered to every warning that has been placed here by sundry posters who state the obvious fact that overall, FLPC has been bought by those who don't understand what, "No guarantee this company will succeed" means. This non-profit, in debt company is calling your bluff to thinking it's going to rise up and make good.
The Markets and the depleted Share Price is fact enough that anyone that is considering buying these share should consider that the charts tell the full story of ZERO Confidence and no success, just like they said from the start. That is the plain and obvious FACT. The Charts are a dead give away to a failing company that has lost ALL Shareholder's lots of money with zero chance of recovery.
The Share Price is worth fractions of the lowest denomination of the US Currency. That's not success, that's a failure!
Once again, they've had you over a barrel and shafted their Shareholder's whilst they live in comfort. FACT!
The simple answer is, they have most likely got enough cash saved up over the last five years in a high interest Bank Account! This is why the FLPC Account is as dry as the Sahara.
If 'Laurel & Hardy' had no money, they wouldn't be hanging around awaiting a "Restructure" unless it was lucrative for themselves. They may have already been sounding out other opportunities to keep themselves ticking over.... which they may well be doing as we speak? There could be a JV Merger/amalgamation and FLPC as we know it may cease or change altogether with the introduction of new blood to help run the show.
The more likely scenario is they will be in the process of an RTO and the current board will take on a different roll elsewhere, a bit like a Government Reshuffle when they all switch jobs and take on Posts they know nothing about!
The BoD are not hard up which is why they are so nice and polite to us when they reply to our e-mail's......it's a form of indirect gratitude to thankyou all for investing in our sca,...I mean, business.
The Plot thickens ;)
IGKW:
I think you need to look at the story from the out set and it is an on going 'Story' a farce, that means a tale that has no real plot, goes around in circles with no meaning and essentially, gets nowhere.
Reminder: They wrote from the start. "There is no guarantee of the company actually being successful". So, you were warned from the start. You have all been had over a Barrel.
However many Bold and Highligted post you throw back, you cannot close you eyes to the fact that the BoD has bled the company dry, yet still they try to trade.
Voaden is on the Board of Directors. That's enough for me. This quote below is available for all to see:
"Mr. Voaden’s most recent corporate directorships have included CEO of Pan Pacific Aggregates PLC, a dormant Canadian hard rock quarry, which he returned to operational and money-making within 24 months"
What they don't say, is that along with a couple of others on that company, is that whilst he "returned it to a Money making" business....or should it have been called a Mon(k)ey Making business (Out of the Shareholders), they Bankrupted the company and were forced to quit through gross mismanagemnt and a CVA. Before they did that, it is a well known fact, AND written on the Forum time and again, they creamed the cash from the company before moving on to FLPC, where it (appears) they have done exactly the same thing.
There is no money left in the business, they has been NO Mining, there has been NO sales, there has been NO fulfilled Contracts, there has been NO profit.....EVER, There are NO Assets. There are NO significant updates in months, and NO Forthcoming information of ANY type about the so-called "Restructure". very soon, there will be NO FLPC as we know it, and it will be suspended or change it's name with a whole new business model with the same old pretentious Rubbish to try to claw in Capital and screw the Investors all over again.
They have been playing the same card from the pack from day one. It's called The Joker. Shuffle the pack and you will find that all cards are the same.
"What a laughable assumption ... Ridiculous"
It's the truth. If you earn money, which I'm sure you do, doesn't it go to paying or your paid up Mortgage? Of course it does, you can't odds it.
Your comment as above is insular: They HAVE used SOME of this money to put towards living standards. Why do you think they are in business? If you have no business, you cannot possibly afford any life style with no money! Get it? All they have done is exactly the same thing as you and I, only on a significantly larger scale at the expense of sapping the Shareholder's funds as much as they think fit.
I don't think the Shareholder's find your suggestion as 'Laughable or ridiculous', because it's your money they're using! Exercise some logic: Big business, Big money, Big house. Tiny business, small money, little apartment.....it's really quite easy to understand, that's if you want to :)
Another example, is No job = No money = no home = Bum (or Tramp, a 'Down & Out'). Simple.
RJB225: Another well balanced post. The only problem may come when they try to get funding from outside sources because they will want a Rock Solid business plan and security to loan them the money. It is unlikely that given their track record to date, that any sponsor will walk away from a 'Tin-Pot'mining company that showed no profit all the while they have been in business.
All you need to do is put yourself in the position of the Lender and ask yourself, would I get a return and would it be a safe and secure bet? I doubt you would.
It could also depend on how good and reliable the "restructure" plan is. In addition, it could sound extremely salient and could have all the back up you need for a 'reliable' ongoing business. So, you lend them $3M Dollars, but along with that, you find someone who know's what they are doing to oversee that the business runs according straight and to plan. If not, sure as eggs is eggs, within a year, that money could be gone on whatever, they fold and you lose the lot.
I would not want to give them any money without a 101% sure-fire guarantee that the security they would offer are ALL their own properties! As far as I know, there are no valuable assets outside their properties that would secure enough funding to proceed with their plans, whatever they are. Maybe a Joint Venture partner, with say a $1M dollar up front funding fee. They would need to get that by raising funds from placings or a loan, if not, the said security, so it could be a non-starter. If they won't offer a private vetted guarantor, walk away!
Catch you tomorrow. It's 7.11 PM UK Time. I'm off!
IGKW: "FLPC made a bunch of mistakes in the past.
However, they are attempting to right the ship, not run away.
I'm willing to give them another chance to get back on track." /b]
I can see that even you don't fully trust these guys either!! "Made a Bunch of Mistakes". That reeks of incompetence, but we all make them. The reason why this Homes business is still in question, is that it still a certainty that some of the money has inevitably gone towards them. Large pay packets undeniably goes part way to funding lifestyle, so it was a plausable comment from the outset! ;)
Again, let's see if they come up trumps with another 'Boiler Room' plan! You are right, you should give them a chance to right their wrong's.
RJB225: Probably the fairest and most reasonable comment I've seen for some time. I feel that the BoD is too detached from their Shareholder's and could do more to help boost the confidence of those still holding. This is part of the reason that people 'attack' this share as an element of frustration. All these speculative comments about homes and where the cash has come from, are what they are, speculative and unproven.
IGKW: It is an assumption because there is little else to latch on to why (it appears) they are 'Allright Jack'. Maybe it's because the BoD are made up of well educated and clever people who have done their jobs well in the past and reaped the benefits of their Labour's in one form or another? That said, well educated people can also be 'clever' in other areas but effectively, stupid, which can be their undoing. Nick Leeson and those who run the Banks, think they were clever but look where it got them?
Greed is a dangerous thing when it comes to money. The more they have, the more they want and they take silly risks to get it. This inevitably leads to obvious mistakes that amount to carelessness and eventually getting found out because those 'without Brains' are assumed not to be astute enough to notice. In fact, they are the clever one's as they are the guys that blow the whistle!
I am also waiting to see what these guys produce and how detailed and well put together this "restructure" is. It should be easy to decipher if you read it properly, then after that, see whether it "Does exactly what it says on the tin" !
BW: lol! With this lot in charge of the Greek Economy, the German's would pay them to leave! I don't think the Greeks like the Germans and so they're getting their own back from the 1940s Occupation ;)
You would think that a company who recently said how much they want to give 'Shareholder Value' back to people who pay their salaries, it would be politic to post updates every few weeks to let you know they hadn't forgot you. Essentially, they are the one's who have had 'Shareholder Value' to date.
I believe that their "Restructure process" Will go the same way as the previous company which tried a similar process with an RTO. It failed and they went bust. However, that aside, any progress should have been reported by now but I do think they will say that it hasn't gone according to plan, and they will close the shop. Could be wrong, but the issue is, the months this has been going on, you would have thought that by now that it would be cut and dried?
The other problem is that all this is costing them money as it must involve Lawyers, travel and other associated costs. As this business is almost out of cash, by the time they stop messing about, the account will have dried up. Without further investment in FLPC, they will find it hard to survive because investors will stay at Arm's length, so to try to encourage new money, they should have drawn up a 'Convincing Business Plan'. Don't be drawn in because it most probably won't be any more plausible than FLPC was from the outset when they said "There's no guarantee the outcome will be successful". These were the exact words used in PPA in relation to the RTO that Broke the Bank due to "The legal processes costing more than we bargained for". That was their get-out and also the time that Voaden left the company for "Personal Reasons". This true if you back track on old PPA records. What we seem to be getting hear is a re-run of past happenings, although we shall have to see what materialises.
Bob Reynolds should be in touch with his Shareholder's by means of a Public Notice and play a straight hand as it is your right to make this demand/request as the need to know what's going on.
IGKWXMAN: We can assume that from what we see overtime, that all the funds have been spent on something other than to make the company more profitable to it's Shareholder's. It would be reasonable to assume (but not a certainty), that if the company's business shows no progress after 5 years, you would surely like to know how it's been used.
You must consider that there's never been any production or sales of ANY product that has put money into the account. As this is the case, could you suggest where the money has been spent. It doesn't cost millions of Dollars running leasing licences on ground, paying wages , doing Admin and renting Offices. Salaries per year cannot run into huge figures unless they engineer it.
A fair question to you Sir: How doyouthink all this money has been spent? All I can think of is that it has gone through the system as 'costs' that we will see should the late filings come to light. If nothing comes out in the wash, then it only reasonable to assume that it has been 'absorbed' in 'other costs which the Shareholder's should know about. That is all, nothing sinister in the question. Just base Millions of Dollars against the size of the business and what it does (or doesn't do), this is why questions keep being asked. See what you can muster that is convincing.
GO4AWILDERIDE: Telecom's company from an Aggregates company and then a Mining Company! There is no reference to FLPC ever being into comm's, but perhaps it wasn't called that back then? I didn't know that and I doubt many here do. No member of the BoD has any apparent experience in Telecom's that I know of, only Rocks and Geology, so there must be an outside source they could pay into a JV, as the current BoD has minimal or no knowledge except common sense in investing. A non-starter.
Setting up FLPC would have been a much better scheme than to involve other partners and overseer's. FLPC is a company whereby ONLY the management in it's small capacity could make it viable for the cause, even that hasn't worked and they are in a pickle as it is!
I had a very similar e-mail from him about 6 weeks ago. Pretty much a standard letter to help appease the Shareholder's. Maybe there's something in it and now you have it in writing...save it! Let's see how good they are at keeping their word. However, this is what they have been saying for about 5 years (in a different context but with the same meaning....shareholder value. Zero to date!) and in all this time, it's only been words. Maybe this time, they will deliver?
WAXMAN: Voaden is aD.I.R.E.C.T.O.R on the FLPC BoD. Director's are involved in the running, or having a say in the business, he is on the PayrollHe has been the Director of 6 failed companies including 3 Resignations and some of those business were dissolved for what ever reason. If he's a director and doesn't have a say in the business, why is he there? FLPC is dormant and will remain so for some while yet. The don't NEED him but he needs his retainer, so can they actually afford him? I am on the understanding that none of the BoD is taking any salary from the business?
Not a Witch Hunt, just a pointer.
You guys are still looking for Two Late Filings and news on this 'Restructure'. There has been no significant Public Notice about how it's going (which I believe will fail), and the 'Restructure' is most probably a stalling tactic whilst they try to get the House in Order. It may be a pre-cursor to folding the company because they are almost 'broke' as the company has ZERO income.
Hardly anyone is posting anymore because nothing's going that we know of. What ever happened to MAINESBEST'S ranting? His posts made interesting speculation for Coffee Time reading nonetheless. Fiction! Maybe he can come up with the answers as he seemed to be 'in the know' but has laid low for a long time. No point in me writing to Bob again: Twice I wrote and twice I got replies, most of which were just sweeteners which said a lot of nothing. Just Bull!
IGKWXMAN: What you need to do is go back to the start of FLPC. It's very easy to see where your investments has all gone. Losses year on year... said it before. You need to look further than arms' length. Millions of Dollars...GONE! Where? Try, perhaps, Lifestyle.
If you do not believe this, explain how all the investsor's money, including yours, has vanished into the ether. Explain how anyone can afford to run grand properties, drive luxury cars and run a non-profit making company with NO money in the business Bank account including debt that couldn't even pay for computer connections or even take ages to renew the Licence, (recently paid for). Explain the reason why the BoD are trying to 'self-fund'some areas of the business themselves?
Who is paying for the Restructure if it happens? You cannot run a failing business such as this (see the Share Price!)and continue living in the way they do. It does not concur unless per chance they are living off earlier income from other Private sources.
Maybe they screwed enough cash from PPA to keep things going, but what intrigues me and many investor's is how FLPC manages to keep going, unless they saved the money for a rainy day, if so where is it now?
I want to see those late filings but they won't submit them. Why not? Maybe their accountant was trying (like most a/c's do) is apply 'Creative Accountancy' to massage the figures in favour of the businesses 'Tax' Burden. Governments do it!
How will those who have invested thousands of Dollars here be able to see where their investments have ended up? There's not enough Public Info' available to be able to convince anyone the money has been spent on trying to achieve FLPC's 'goal' in being (even nearly) a successful, diverse Mining Company.
There has been NOTHING DONE to even TRY to gain Shareholder Value. Show me one thing apart from a glitzy Web Site and a few photo's, Texts full of What if's, that tells ALL Shareholder's what they have actually DONE in the last five years that points to any Mining whatsoever, and what areas the money has been spent. It doesn't exist, just like the Millions they had from you guys, and in the early days.
FLPC was started (Allegedly) as a ruse to raise cash with no intention of doing any physical Mining at all. There are no pointers to say that anything HAS happend, ie contracts, failed deals and so on. They said that it may not be successful, that's as honest as they could be. With that said,it was the choice of the Investor to assume it would work. I for one would never throw cash into a company which by their own admission may not work! If they had, the share chart would show significant gains and peaks, not a continuing downward trend which indicates to me that ZERO deals were arranged and no significant public notices were issued about any progress towards mining in any shape form or size.
All they say is that "we have a Mining Capability" or Lab 'Capability' to process X Y and Z. What they don't have is, the capability to explain why after all this time, it hasn't worked, but they won't tell you the exact reasons.
FILINGS PLEASE, the last two.
Essentially, all you guys have been sold a Bum Steer. All cash....drained! Just like PPA. I think Willy Voaden is out of a job soon as a Mining Consultant to FLPC because it appears from the fact that nothing's been done....EVER, he is superfluous to requirements! A consultant is no good unless they follow it up with a business plan and there isn't one.
Enjoy the rest of your day.
RJB225: They ARE most definitely concerned about the shares and the company. Without this, where is their source of income going to come from if they can't filter most of the proceeds into Private accounts. There's little left in the business......out of how many millions over 5 years.............with NO clear investment and no business projection pertaining to any particular project and out of all those Millions, they should have invested for you Shareholder's, where's it all gone?
I see by the shares issue, they give the details of where they live. They all have lovely houses! Nice for a business that has no money in the Bank. Work that one out!
Yes, I assumed it was on those lines. Bob R also had a large number of shares for the same reason a short while ago, so it won't make any real difference to the SP. Don N had some a sometime back too, so it concurs with what you say.
Haven't seen much posting recently, Pos or Neg. Maybe just can't be bothered until something surfaces. Probably all on vacation except me. Had mine, all over in a flash! I live close to the sea anyway so I'm always 'on vacation':)
I wouldn't mind betting that Voaden hasn't coughed up his own cash for these shares. All the time he was at PPA, he never bought those either. I wonder how his shares were financed, possibly payment in lieu of services, but doubt he dipped into his pocket for them.
IF Voaden's involved in buying shares, something must be brewing that he can get his money-grabbing little hands on. Maybe he will buy at this very low price, announce the "Restructure", the share price will rocket, Voaden may sell (if he can, in Tranches) make his money and quit FLPC. Sounds a bit OTT but he's done other things prior to FLPC that didn't concur like help Bankrupt his previous company before leaving for FLPC (Fact). Wonder what they have in store for you FLPCer's coming up? If it sounds as if it's going to take off, be prepared to sell because it may not stay up for long but it depends what the "Restructure" involves.
Those who haven't bought in may do OK but be careful....very careful!
They are often quite slow but the rise may be partly due to your transaction. It's never instant a few more like this will give it an extra boost which may encourage the Markets to keep it up for longer whilst 'it' assesses what underlying potential there may be. If it cannot do that, it's back down again to where it was.
IKGW: You never know, a few of us may just be waiting to see the results of the "Restructure" before taking a punt. Folks won't buy unless it appears to look as if it will without, any doubt, work for it's Shareholder's. Be warned though, read between the lines when they finally announce their 'master plan'. If it looks as if they are going to survive, it could be worth a VERY short term risk of a small amount just in case it goes bad again. I try not to throw money away, but I've been watching this for a long time to try to see whether or not the company is going to steer itself out of this crisis or fold.
I have a great deal of empathy for those who are 'Locked in' so yes, I would like to see it survive and above all, won't turn out to be ripping/Conning it's Share holder's off as some of us think.
At these ultra-low prices, do you not think that FLPC is a great buy to hold? Do you also think they will come back bigger and better than they were (which should be easy if they do) and do you not think this share price will take off and give those already involved, a significant profit? Of course you do, but I would also like to see a plausable reason that is conclusive enough that tells me why me or anyone else should buy this share. So.....?
Faith doesn't come into it, Hope may do, and Charity I only give to if I know the money goes to my chosen cause. I want to see some action, not a share that needs Defibrillater to start it up. If and when it awakens, this alleged 'Sleeping Giant' may come to life, then you will see all the buys flood in and a rapidly increasing share price. For now though, we have nothing at all to say this WILL happen, hence the pathetic volumes and no encouragement to buy at this time.
W/Wonka:...and it's not even 'Heaven Cent'! Maybe one day before they vanish up their own "Restructure"!
(Cutting in briefly).....time? As long as you are under 50, you should be ok! lol. I just took a peek at the Google Maps Street view of the road BoB lives in. It's really nice! Not sure how long he's been there, but I reckon about a year after FLPC started.... ;)
Would you dare post a link?!!!
Jay25: Boredom mate. It will be Monopoly money soon! it's worth more :)
IGKWxman: Posting about UK TV, that's different! Well, I go way back to the first series of Dr Who with William Hartnell 1963. They are repeating some of these and it looks so corny now! Check out Youtube. One of my all-time favourites was Catweezle, now that WAS brilliant!
I contacted Bob a few weeks ago and he sent me such a nice kind reply too. So much so, I had to reach for a tissue. lol. Being too nicey, nicey (like Tony Blair) is a cover as far as I'm concerned. Apart from being a bit of a cynic.....ok, a big cynic. Nice letters and smiling business people are not to be taken seriously, because behind the smiles is usually some dastardly plan!! Consider 1938/9 and Neville Chamberlain, 'waving his piece of paper'. Some people just cannot be trusted when they write with all good intention and a nice smile!
Having run my own business for 25 years, one can pick up the Bull in body language as well as the Pen. However, I do not know Bob R, so it would be unfair to pass an opinion. I'm sure he's a very decent chap....most of the time ;)
I have a full-on day today, so I'm off for now.
IGWxman: BeWary isn't actually slandering them. It has been done by Mainesbest and others sometime ago, but in order to bring about a case for Slander, they would have to dig deep in to FLPC to decide whether or not the case was sound to justify legal action. Numerous people on this Forum has accused them of being thieves, liars and twisters, but it is still unproven.
The size of this relatively small business cannot have had outgoings to the tune of Millions of Dollars over 5 years. The have not really produced anything, not bought buildings or land, they have no Plant owned or leased, so apart from the renewal of lease(s), salaries and office rent and general overheads, these things cannot possibly account for the Millions that now doesn't exist, so Wxman, a fair question to you mate: Can you figure out the reasons why they are now almost broke, have made losses each year in tens of thousands of Dollars, despite investment input? Sure as anything, 'costs' cannot account for losing all these millions. I do not know the figures for input against output off my head unless I go to the Filings, all bar the two that haven't yet materialised.
You are probably not an accountant, neither am I, but I do run a small business and I can account for most of it, but impossible to account for every penny! I could though, account for thousands of English pounds that with my meagre turnover would be easy to do. It should also be easy for them to do, it's just on a larger scale, that's all. Should be easy for a good accountant to find it or 'lose' it!
I retain my fair and reasonable approach and stand by the 'no actual proof' bit, but as mentioned earlier, FLPC seems to be operating within the law as far as we know, but all the pointers, ie. charts, millions of dollars gone and nothing to show for it, begs the question as to what degree of legitimacy is the company running on? Mismanagement of funds is not illegal (ie. PPA) but misuse of Shareholder's money is if can be proven beyond reasonable doubt that the company has not acted within the interests of it's Shareholders and are alleged to 'misappropriate' Investor's money. That would be for the Courts to decide. All we can do day after day is speculate with the same answers (but not reasons) cropping up each time. Have a good day if you can.
BeWary: At least they made it clear from the outset that it may not work. Whilst it was tucked away neatly in amongst all the 'possibilities of great things', I expect it was hoping that it got breezed over as a non-important issue, clouded by the delusions of what 'will' happen rather than the suggestion of 'nothing may happen'! Worded carefully, the good can easily outweigh the bad as much more of a likelihood that it will succeed rather than fail.
It's farcical, nonetheless. The next Chapter could prove quite interesting from everyone's point of view. So, will it be the Prologue for the start of the "Restructure" or the Epilogue?
On the basis of the potential success as suggested by BoB and Don and many here, in the 'soon-to-be-new' Restructured FLPC. This, as we are lead to believe, will come back in full force as several on this forum has suggested. Everyone who is considering buying this share or topping up at this incredibly low 'can't lose' price, should now throw in every Cent they can afford to help support the cause and keep the company buoyant. For those staunch supporters of FLPC, then buying as many as you can now, must make a lot of sense as you know that you will all make a King Sized profit once it really gets going! (Fingers tightly crossed!)VGL All.
IKGWXMAN: A very fair and reasonable comment. This is the general idea and hope that by 'Hook or by Crook', and hopefully not more of the latter, they may well pull a Rabbit or two out of the bag. I just hope that those Rabbits are alive and well!
It is very slow going here for you chaps and if you keep plugging away with incentives to try to keep them on their feet, that's all fine and Dandy but the real incentive will come direct from the BoD. Only they can tell you want you want to hear so at some point, hopefully soon, you may get some idea of what they propose to do other than just the word "Restructure". After that, lets see if they follow up any plan all the way through. If they do, it will do most of you a lot of good.
If this happens, watch out for 100s of % increase, but it has to keep climbing to be true to their word otherwise if the Markets think it's all baloney, it will sink as fast as it climbs. Lets see if they can deliver for once in this company's existence. If not, bombard Bob with a Shack load of flak and express your feelings. GL all.
BeWary: Ah yes, of course! Got that bit wrong but the rest of the plan seemed to pretty much concur by way of trying to hoodwink people by using a tactical strategy. I'm sure that guys here aren't that daft as to fall for that ploy?
so, Bob Reynolds has spent $17,000 of his or FLPC 's money of which there's little left in the Coffers. There has to be a twist here: Bob know's something will happen here very soon and he know's that he can make money as a result his new shares. Not by selling them, but it's most likely a ruse to encourage further investment on the pretext that something 'big'is in the Pipeline.
This guy is not stupid, so will it be the sale of the Antimony that he has bagged ready to sell? Unlikely because there is nowhere to process said Antimony for a viable extraction percentage against processing costs. Maybe it's the result of finalising the company "Restructure"? This is possible as he want's to show confidence in FLPC that is about 'all change', so all he has to do is await the cash to flood in to get his money back in the short term, although I doubt he's that bothered! The $17,000 was no doubt some of the cash held back from previous investment within FLPC and not out of his own pocket.
I don't doubt there will be many investor's who will follow suit and assume there will be value in FLPC because 'Bob's done it'! If this is the case, it will be interesting to see how the market reacts to this. If they think it's 'propaganda' with no substance, it will have a negative impact on the SP, but as a result of the purchase of these shares, it will possibly have a brief showing of 'Green' for about a day before it relaxes back to it's usual low. Whatever the case, he isn't going to throw money away with a reason but the main thing is, will this benefit the Shareholder's of FLPC? I hope so, but have my doubts.
Waxman: It appears that you are 100% certain that FLPC will come back bigger and better than before? In order to be sure this is going to happen, you MUST know some inside detail as to the in-depth proposals which FLPC has finalised. Fair enough, but I say finalised, because one cannot be sure about anything until all the paperwork for the "Restructure" has be ratified. Only then will you know the company is set to 'Rise up' and carry on.
As BeWary says, because there is no money, fundraising will be vital for success and this success won't come if the BoD Fritter the funds away on 'things' and claim the business is unsuccessful in a year's time. If for example, they raise $5M they must know WHY they need this money. This also means they should have a business plan with substance, contacts/contractors ready to move in and get blasting. The business plan must be 'flawless' to prove to the lender that they can pay it back in the future. If fund raising comes as Placings, Dilution will create more noughts on the SP and he is right in saying that anyone investing is unlikely to make money. Assets if any, will not be enough to bring about any change here, there's nothing to liquidate.
Await the 'New' FLPC and it's proposals, research the plan and dissect it for ambiguities. It should be easy to do. It has to be set in concrete for this company to get succeed but it will not come with a guarantee. IMO, FLPC will become something else or part of another company which may not be listed here. 5 years losses tells me that the Management aren't that good in running a business but pretty good at spending all our money. I say 'our' because they had $1200 of mine :(
Let's see how they write about their new 'Fool proof' plan and see how many newcomer's they can reel in! GL all.