Successful Businessman unlike FLPC
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Mainesbest: Another in-depth post telling us all that Civil Action may be in the offing. I am on the understaing that Civil Action will be costly and get nowhere, whereby Legal action will only ensue under Criminal Law should it ever happen. I would have assumed that these guys may possibly have something aganist them on these lines? When you say' ..."but it is for the RIGHT reasons that (we) did drop all information, contacts, pictures and audio phone recordings in the proper authorities hands. Oh and...ceased ALL TRADINGS of FLPC stocks! I assume when you say 'WE' it's all the un-named entities within your post? Fair enough.
I always thought that as they are being so Hush-hush that someting else was being hatched. I appreciate that you are being as transparent as you can and it's going to be a question of 'Watch this space' I think the whole thing will be suspended, but will they get away Scot Free and not taken to task in any form? Will we see these 'proper authorities' do the deed on FLPC though, this is what people want to know or do we just wait and watch?
I do believe that BeWary suggested that because little is happening that we are aware of, that some of us believe that another Scandellous venture is being planned. However, I'm not so sure as the BoD, Including the name I like, 'Don the Con' are too old to bother and will choose to disolve into the background with thier ill-gotten gains.
You seem to be pretty clued up in legal affairs, so whilst I won't ask your trade, too me you know a lot more than this entire forum. Fair enough, that's good, but perhaps we will get to know more as, when and if you see fit to tell. I hope that whatever scenario happens, that you/we see some retribution for your hard work in helping to 'clear the air' about these guys.
If you like fishing, you may get to catch something quite big soon?!
Regards CavEmp.
Nordicroots: Very comprehensive appraisal. Essentially, both Joshua and possibly FLPC are working a 'Flanker' to get cash short term, whilst this Loss making company keeps ticking over with whatever comes in via the investors from this site.....which, I hasten to add, has all but dried up. Josh is way ahead of the game and awaited the 'Flatline'to bang some more nails in the FLPC Coffin.
Quite clearly, someone has been on this case for quite sometime and I'm wondering whether or not things have been going on 'behind closed doors'? I think there's far more to FLPC than we think. For example, how do these high-powered Director's earn a living if there's no Investment. Where does all this cash come from to maintain the business and the existing employees? You can see by the Volume, that over the last several days, there has been little or no movement in Stock. Has previous dealings filled their coffers sufficently enough to not appear to be that worried how the company is going? They are keeping very quiet indeed.
Things are going on in the background that we don't know. Plans being hatched, and of course this 'Restructuring' program we read about, but they are all being very silent and it all seems very, very fishy.
NORDICROOTS: A very astute find! That's quite a coincidence Judging by this guys track record, he appears to get out before they get so low they go under and gets nothing, so he's out 'just in time' before his percentage dwindles to nothing. Perhaps he know's something we don't. If he's made millions in failing companys by lending them money in exchange for cash and part shares, this guy almost can't lose, but the company he was in can lose a whole lot more. Looks like this wiley guy has his head screwed on. If he's lent money to FLPC or whatever (I didn't have time to read all of it), how much was lent and where did it all go!!
As my time is at a premium, please correct me if I'm wrong, but FLPC (BoD) Stands to gain from his cash on whetever basis, and he makes his bit on % + Interest back, plus %age of whatever shares remain which he got at a discount price and sold while he still could. It sounds to me like a very elaborate way of a quick gain for both partys without too much commitment? Right or wrong?
No shares traded. Must be a first? Perhaps the shares are going to be suspended pending 'The Inquiry'. I also think there may be a run on these shares soon, if the BoD don't run first;)
Attention seeking mate. Wrong way to go about it! Takes all sorts.
It seems to me that the so-called 17th never happened?? It also appears that Mainesbest has given the impression in previous posts that an impending Investigation was going to be started on that date....well, has it or not? In addition, no information has been shared with this forum about anylegal case that is about to start or has been started, so whether or not this is Politic to do so, I'm not sure, but it sounds unfair to me, but should the initial info, be shared on a Public Domain first? Because it's your cash, I think it should be.
If it were a Shareholder or Shareholders that has instigated some for of action (if any), then it should be made clear on this board as the outcome involves everyone here as their entitlement to information as part company owners.
Whilst some here will slight FLPC to the N'th degree for obvious reasons, it is wholey unreasonable for anyoneto indicate Legal Action of whatever nature without involving all here. It is a right of everyShareholder here to be given the opportunity to become involved in part of the discussion about said 'Legal Action' and perhaps put their case or not, as anyone feels fit. Alternatively, to ban the shareholder who chooses to threaten Action against this company without taking their case direct to the BoD, but If they have already done that, then you guys should need to know SOME of the details about the case content as it inolves your money.
If there is nothing at all, and it's all been a load of empty threats by 'hard done by' losers, the threat of Legal Action without going through proper channels (unless it has) is a sutiable case for 'Libel'(?) on the part of FLPC against that Shareholder; that's assuming they could afford the case costs and even if it's possible to bring about a case as this board is for Opinions, good or bad! There are limit's though!
I am no fan of this BoD, but if all this has been an empty threat, it could actually be a case for[/i FLPC rather than against them!
If the Moderators of this board do their job, then they should permanently remove the particular Member making the 'threat'. Up to them, not me.
It is clear to me that FLPC are not Shareholder friendly, NOR have they been what I deem to be fair and reasonable, in turning the company into the business that you Shareholder's bought into. Neither have they made any inroads into even ANY attempt to progress this business over the last few years to show what value, if any, they're are offering those invested. Is it legal or is it part of the Risk which we all know? It can go two ways......we win or we lose. How FLPC uses the investor's money is the main issue, hence someone is baying for blood. Can't blame them either, fair enough.
If any of you feel this should go through Legal Channel's, then all this info. should come through direct from FLPC in a public notice and/or it be shared via this Forum for all to see. If not, this whole issue has been one Shack Load of tripe.
As they are pretty much broke, I don't doubt that in the fulness of time, they will fold the company, and if they do for the above reasons, then they deserve it but ONLY IF PROVEN beyond any reasonable doubt they were acting unreasonably (which I think they have been). All will come out in the wash maybe one day.....or not.
If anything IS going to happen, it won't be clear for a few days. I doubt that there would be any obligation to stir things any more than they have been. It will be kept quiet until something's proven, but if nothing comes of it, I doubt the BoD will say too much with fear of damaging the reputution of FLPC any more than it is. After all this, they can get on with their restructuring :)
PITMANN: 10,000 Shares' eh? That many! Will be curious to see if anything happens today......the dreaded 17th when all Hell is supposed to be let loose!! Later on, we will find out whether or not it was all bravado or factual. I know nothing at all about what's supposed to happen, but Mainesbest know's what's going on, so we will have to wait and see if anything comes of it.
If there are legal connotations, we will find out soon enough, but if the BoD are that clever, which I think they are, (they've got this far), they may well play their Ace card. If I were working an elaborate scam, I would ensure I had all the answers ready, all filed away for a rainy day in case I was rumbled! Even the best laid plans can go wrong and it's the most obvious detail that is the easiest to overlook!
JIMBOB: My answer to that is, some of my money has gone part way to feeding this motley lot some time ago, but won't say how much. It was a long time back but I still have some interest in FLPC but not as it used to be ;) That's ambiguous enough, but let's say I'm here to get see I get some value for my hard earned and for the financial crap that I endured for two years, thanks to a couple of the current BoD. I'm less bitter than Mainesbest and a few others who like to have their say, but my losses were (perhaps) less severe). End of...!!
Can guys not see that since mid-2011, the Shareprice has tumbeled all the way down with no significant increase? If FLPC were sincere about getting producing, there would be an upward trend in the Shareprice. There hasn't been, so that's four yearsshowing no results. no incentive and running on a loss year on year. It's 'Flat lined with a downward trend right up to now. A sorry state indeed. It's not because the share has been recently de-ramped and the board slighted, it's because they haven't shown you all that they really mean business. If they had, the trend would be upward but with Peaks & Troughs, plus regular news features to keep everyone informed.
Those who have paid their money all have every right to vent their displeasure about why the company is in this predicament. Well, the problems is with those who run it, not with Shareholder's who had their money miss-spent, and there is no trace that I can see of any of this cash put into anything that even remotely looks as if they have teams standing by to get the stuff out of the ground!
I am surprised there's not more people creating a fuss, rather then just a few. Perhaps you think that making negative posts is going to make it worse and worse, but I don't think it can get much worse now. It's hit Rock bottom. No amount of Cheering this on will make any more than (maybe)fractions of a cent, if anything. It's worn out, so lets see what big plan FLPC can come up with to save the day. I'm still awaiting details on their 'Restructure'. This was mentioned weeks ago, so they must have a plan? After this time, they know what it will be, so why not share it with your Shareholder's? They are all itching to hear your next move.........that's if such a plan exists.
BeWary. It will take at least TWO lifetimes for it to reach $1! First, it clearly has to climb through 1 cent first (rapidly or not)and that's going to take genuine and committed company input, followed by massive investment about that which is supposed to put the company on new highs. It will have to rise hundred's of % to get it up there if it ever happens, then it will boost the share price from these miserable lows. Nothing of significance has happened yet to get FLPC through this barrier, so I feel they are fighting a losing battle. If they continue getting investment, the company will prevail, as is.
I agree with you about the Legal issues: No cash for defence, etc. I also think, as many will, that it will be highly unlikley to go through any Court. If it does, perhaps the Newspapers will latch on to it and that would Stigmatise the company even more, so any attempt to get them into a Court Room of any type will have a detrimental effect in all directions! I don't believe it will even get to the steps of the building, letalone a hearing. Good for FLPC, but not so good for those considering investing or invested if FLPC carries on as they have been for the last few years, ripping people off. A sad state of affairs. There's the old saying, "What goes around, comes around". Just a question of when or if.
JOTUK: I still have the old site link here. The Link you posted was a total revamp to the one I have which is months old. I just use it to Link to the Forum. I was just curious as to why all the images were changed to white blanks. No matter, but thankoyu.
BeWary, BeWise, it won't be long before the company's DeMise!
It's been a long time flat-lining and no hint of what this Restructure is all about. Maybe there are no pictures here because they have taken more up-to-date photo's of NEW Sites with piles of Minerals and Rock that we may be mining which may resemble those of Quadling!
I know they have less than nothing left but just enough to mix up the Cement for those rather heavy Boots, just in time for the trip down the Hudson....One way of course ~~\o/~~ ! I have never in all my days, seen a company rise up from lows like this. If they didmean business and were sincere about this whole program, the Share Price wouldn't be this low in the first place and investments would be coming in thick and fast. If further investment come in soon, it may be just enough to pay Bail!
I wonder why all the photo's on the site have disappeared?
You won't have seen me here because I wasn't! Been around for about a year looking around. I trade elsewhere. My holding here is not worth it's weight in Kilobites.
Sweetums: Blunt and to the point, and you have every right have your say. I have had a crack at one or two over the last 12 years as my few grand gave me the privalege to 'buy' my say too.
Whether or not they will turn it around, I don't know. Maybe it's not too late, but personally, I can't see it happening. I think we'd know by now if there was a master plan in the offing because previous Notices would have given us clues. I do feel as if Don and his mates may have had their day and it will shortly be the turn of the Investors to have theirs.
Only the company can save themselves IF they have a scheme that is guaranteed to turn things in the shareholder's favour. Must be set in Concrete though. Possible? Little hope.
Maybe The Fat Lady is about to sing?
Hawkshaw: I have been putting money into company's since 2003. Won a bit, lost a bit. During this time, I have concluded that the majority of CEO's are out to shaft you. Not all shares will go bad on you though. For all one's losses, you can hit on a good one: No amount of research will guarantee a good result........as you can see here and also on their previous company. Mining can be good but it can take forever, like Oil (which I'm also in), luck of the draw. Only the Market Makers/Stock Brokers and the company owners win biggest. The Bookies never lose.
IF there is such a Court Case on the 17th, they will undergo one heck of a grilling. If they have been clever enough to get this far and get away with it, they may well get off the hook but there's a lot of evidence that tells us they never intended to succeed. Just to rake in the cash and if that is so, it may be proven in the Court that FLPC was the instrument used to deceive the public in order to gain cash to their own ends and with no intention to actually Mine, process and distribute. Plenty of evidence and I'm sure that the majority of remaining shareholders will bear witness to it. Their previous company went exactly the same way. Almost Zero production and hundreds of thousands of UK Pounds vanished and they went bankrupt.
These guys will probably be under pressure to close the store too, because there's no money to progress with and because of this, any Court would deem it not viable and unfair to investors to keep a company going that has no propects. Because of the risks inlvoved in Share dealing, we'd have no re-dress (terms & Conditions!)The Court could force closure at the bang of a 'Gavel'. However, I'm not a Lawyer, so they can decide.
It's not the share I'm not happy with, it's the BoD. It would work better with some guys who could actually prove themselves as reliable businessmen rather than a 'Silent minority' who don't seem to know how to run a business for the benefit of all here. Five years don't forget, so it's hardly surprising folk are just a little bit peeved to say the least. We'll see later. GL all. Work to do now.
1KgWXMAN: Good luck to them then! Hope they turn a profit. I expect the BoD will be eating out tonight with Champagne and talk about how they intend to Invest the cash ;)
Yes, seen this before....impossible to sell except by many tranches of a few thousand because they won't let you! I think that if you want to get a profit here, it will have be buy a small amount and sell it, but big money in one hit is pretty much impossible so is it really worth the risk? There's not enough in the pipeline to be a medium or long term holder amidst all the ambiguity of this company.
Mainesbest knows what going on with regard to more in depth 'Digging' but as yet, won't say too much. At least, that's what I read a short while ago. Could be worth a Punt but the BoD is keeping a lowish profile at the moment whilst they hatch their next dastardly 'Restructure' plan. At this mega-low price, if they bring out some new proposals with all about how they will proceed, this share will certainly Multi-Multi-Bag for just a few hours.
The way to get this share climbing, albeit briefly, is to get a few of you to ramp up the company 'Restructure' on Twitter and really give the beans there. I have seen it done with some real effect. Make it plausable and really ramp it up, then watch.... I don't do Twitter. GL all.
JJPHILLIPS: Your post was exceptional and very well disected. Best post I've seen in a long time.
"The company continues to address the company’s SEC filings and much of the information is presently in the independent auditor’s possession.
I am wondering whether or not This Independent Auditor is a 'Receiver' to assess the possibilities of the lack of viability to continue? I note they stated THE'Independent Auditor' rather than OURAuditor.
The 'Extended Stay' which sounded rather like a Holiday but mixed with business, such as a few Beers at a Bar and a social Chin-Wag to discuss ways of getting off the Hook!
"Furthermore, daily operational objectives are being addressed and/or scrutinized as the company continues to function in an exploration/development status."
Essentially, that Paragraph is a lot of big words just telling us about the title of the company, about it's Website and 'how it is' rather than 'what it does'!
Basically, to the uninitiated that cannot read between the lines, the company is Dormant and there's (almost) nothing going on except a guy writing reams of nonsensical information that sounds as though it means a lot, but in fact means nothing at all. It's all bravodo.
Each time, 'Restructuring' is mentioned with it's inverted commas again, can mean a thousand things, all except what we would like it to mean.
Colate all this infomation, and it almost seems that FLPC are discussing methods to disolve the business and try to get 'tickets' written off. There are a few of us on this board that can see through smoke screen and no amount of what they write is anything to do with business progression toward actual production.
A fitting Adage: You can fool some of the people some of the time, but they cannot fool all of the people all of the time. Dead in the water.
I cannot believe nor disbelieve what they are saying as nothing tangable has actually happened. All I am reading is FLPC's claim to 'Restructure'and be all nicey nicey to anyone who writes in for info. Why couldn't they have done all this 3 years ago, at least by now, we'd know where we were going.
At present, I remain sceptical as to whether or not FLPC will put your money where their mouth is and has the ability to take this all the way to being a major Mineral producer and supplier. They are understaffed to do what they claim and I can see a lot of this money vanishing into more costs and huge travel expenses.......as it has been in the past. My guess? When I hear about the first SIGNED CONTRACT that binds them to produce with X or Y company and following that, a meaty sales invoice going towards paying contractors for their work for blasting/drilling and Mining out the stuff, I will eat as much Humble Pie as you can serve.
MAINESBEST: What do you reckon?
BIFF: Figure of speech, but lets put it another way, there will be no funding because there isn't and won't be sufficient funds to progress with their so-called restructure. There's too much debt so do you honestly think that they will magic out of the Blue, enough cash to do what they claim they will? Of course not, but maybe they will concoct another yarn by which people will fall for and maybe get enough cash together to get through the first stage of their 'Restructure'.
Do yourself a favour, remove the Blinkers and don't be drawn in by the tripe they spout. It won't happen because what comes in they will have to pay out again to their Creditors and Internet Service Bills they couldn't pay.
If they can raise the cash by some means, jolly good luck to them, I hope they spend it wisely, like ensuring they commit themselves to giving 'Shareholder Value', medium term.
Crows can taste great of cooked properly, just like Chicken but with a few extra Spices, try one tomorrow.
Well, it looks as if FLPC is finally getting their finger out to get the 'Defunked' Liberty Mill up and running. Lots of talks going on and also $140,000 dollars funded. Heaven knows where this money is coming from but I assume that is about half of what's in or was in, the FLPC 'Bank Account'.
I am not sure whether or not this is stalling tactics, firstly to get everyone to assume that all is going well and all of a sudden, everything is happening very quickly. Second, it could also be the Sprat to enduce more share buying in anticipation they are making headway.
I am very surprised that all the information was given to ONE individual rather than on a public Regulatory News Service BEFORE offering all this information to a Single Share holder. The words inlcuded in Bob Reynold's e-mail said.
"Regrettably many of these matters do take some time to evaluate and act upon".
This is his get-out if it doesn't all work. Judging by previous preformance, why all of a sudden in five years is it all claimed to be in progress with a view to also "Restructuring" (Noted in inverted commas?) We have less money than 5 years ago and on a constant loss making venture.
This whole thing stinks of tactical business waffle that could go everywhere and nowhere, so LET'S GIVE THEM THE BENEFIT OF THE DOUBT. As I said, get in now then get straight out because at the previous low level, there is money to be made WHILE YOU CAN and that's NOW, but TAKE YOUR PROFIT before they take your cash! DO NOT HOLD FOR TOO LONG. Personally, I think it's a scam and this progress should have happened years ago. They've had pelnty of opportunity's so why now? Are they trying to prove they are ligit by implementing all this work 'all of a sudden' and before they are taken to task? WATCH THIS SPACE! Could be exciting :))
1kgwxman: Quite honestly, it's hard to say what to believe, but I'm sure it will all come out in the wash in due course. There are many plausable posters here and one or two go into specific details as to what's going on or what MAY be going on, but only reveal limited details. Perhaps it's true or maybe scaremongering, but as FLPC has a lot to answer for, those who will bear a grudge for their considerable losses with no recovery in sight, are bound to want some sort of retribution and won't rest until justice is done. That's if any alleged case is successful.
Guys have lost hundreds of thousands of Dollars here and whilst losses can be hard to swallow, it's HOW the money has been lost and the reasons behind it. We all put in what we can afford to lose but if the board doesn't 'play the white man' so-to-speak, and all losses are through negligence and or deceipt, then I see no reason why any company shouldn't be brought to account and have their say. They can prove their case, or not and maybe face the consequences or walk away, Scot Free!
Halted trading? No, because all shareholders would be notified about the company going in to suspension. At least there should be. If this happens, you can bet your life it's all over. If there's no volume like NOTHING going out or in, that's possibly the precurser to some sort of action, but you MUST be notified first.
LOL! No, It was purely an example. Probably Diamond Mining next, but more likely to be a 'Laundromat' but doesn't actually do much washing of clothes.......... :)
I think if Bob Reynolds WAS leaving, he wouldn't tell you! It would only fuel the 'Told you so's' on this Forum. It's probably just another one of his Porky's because if he said he was quiting, it would prove that one by one, they will disappear into the ether and fold FLPC. The all of a sudden it would resurface (example only) with a name something like 'FL Oil' as a Shell Company, (investment Company)with a 'likely' Joint Venture deal with 'proceeds going towards funding exploration in Oil & Gas'! There would be another pretty Website to Woo would-be invetsors into a new Tiddler Company with 'massive potential'. This is purely a what-if situation and unlikely to happen. The scenario would be just the same as it is now with a different product, same outcome.
As far as the current situation is concerened, the BoD will not tell anyone anything that is negative that could damage the business and cause unrest amongst their loyal Shareholder's..............Ahem!!
I think MAINESBEST is NOT the sort of person to write BS. He is a plausable poster and by the tone of his written content, is serious about FLPC being out to focus on screwing the investors with absolutely no intent of production. Any income derived from this site is filtered away. Why do you think there's no cash in the bank of any significance? What there is will be paid out in Lawyers fees to try to work out a way of getting themselves off the hook..which they won't do if these Legal Guys get stuck in to the case, should it proceed.
As was mentioned a while back, the evidence is the active function of the site itself to gain 'Investment'for personal gain ONLY. ZERO production, ZERO Intention to produce in FIVE YEARS. At some point in those five years, there has to be paperwork which they must keep to show full records that point towards something other than 'Internal costs'. If there is nothing to show that was truly intended to prove they were serious about Mining/drilling or whatever, and intentionally lied to the Shareholders to con them into parting with money by using words of deceipt, then pocketing the cash, these Lawyers are going to have a field day. All they need to find is just ONE thing that doesn't concur and they will pull the drains up. Bankruptcy for FLPC is just around the corner.
Read the Charts & digest the Website but you need to remove the Rose Tinted Glasses first. Nothing curious and not Rocket Science.
Lack of Investment + No proper Business Plan + a Co.with no money = 0.00009 Easy maths.
How ever much you try to polish a turd, it will never shine.
I never attack a person on this board, it's not what I do. But what I don't like to see is people being ripped off as I have been myself (not here). I am a realist and make my points known. I have made it very clear on this Forum, along with MAINESBEST and BEWARY how the company is, which most of you are aware of, as you suggested.
Thus far, I have covered most of what there is to cover and as I have said my piece, I will sit in the background, probably to everyone's delight and make very few further posts from this point on. They will not be protracted as my previous posts have been, so rest assured that my presence on this forum will now be rare as I have my own business to run. In the meantime, have a great day and I bid you good luck. My points are made! Regards, Cav'
Since end 2011, very little has happened except for an almost continuing falling Shareprice. During 2010, it appeared to hit 1 penny twice and that was it. A few Rallys took place but it continued to spiral down to almost 'Flat line'. To get this share to 1 Penny will take more than a miracle, but if they had something to sell or an assett that someone would want to buy, then it would surpass 1 Penny easily.
I am not quite sure whether or not FLPC actually WANTS to start producing at this late stage bearing in mind the ages of the BoD, but if they had sufficient land or an ongoing VIABLE business with known (FLPC OWNED or Mining rights) areas of thousands of tonnes of unmined Mineral, they could be bought out and the company retsructured and modified. If this were the case, naturally, the Share Price would be higher anyway and it would hold a better Market Capital. Not only that, funding for expansion would be more easily attainable against assetts/security and we would have no issues as we have now as to what's going to happen to the company, longer term. I still think there will be one last ditch attempt to get some investment in and how they will say this investment will be used, but read between the lines should new proposals come about. What they do with the cash is a different matter, so do consider what happened to all the Investor's money over the last 5 years and you should get a few pointers as to the Boards next move.
I really hope so. This BoD needs to re-gain the confidence of it's investors to keep the cash coming in. It's in everyone's interest that they do follow up their restructure plan. If they come up with salient proposal and take it right up to the point of Take off, then abort for a crazy reason, all I can suggest is that someone gets a few investor's together and pay them an arranged visit. If they refuse to talk 'Turkey', go and see them anyway and beat a path to their door. The rest is how they decide to play it bacause if they do Balk, then they would need to be seriously cross-examined and their true colors may come out. After that, if they haven't vanished, you will know how you all stand. I personally think that you may not get a private meeting because they may be a little nervous after 4 years of 'promises'and nothing to show for it. As perviously mentioned, there IS money to be made at this very LOW price, because once a proposal comes into play, that's where the money wil be won. Not so for those long termers who hold at a considerably higher price.....probably! GL All.
Naphalye: The company has always had Potential, it still has but that word 'Potential' sadly means very little here. Every share has Potential but there are many necessary ingedients to make the perfect cake. First and foremost you need integrety, dedication and a business plan set in stone from the BoD to ensure that they mean and do what they say: Do we have this? Second: There has to be talks around the table with all those that will help make the company plan work and are ready to start mining wih all the appropriate costings being taken care of to ensure that funds are in place and ready to be put to use: Do we have this and are there ongoing talks and with whom. Has there been any?: Third: We have to add the most important ingredient and that thousands of Dollars at the ready at a moments notice to pay part up-front so the contracters know they will be paid, so a 'Goodwill' payment has to be offered at least, then funding from the issueing of shares. Who will buy more of these shares if the investor cannot see a good business plan?
IF we propose change and inroads are being made to progress this company into 'certain' restructuring but we DON'T have any money, where are we going to get it? Issuing of more shares, a sponsership with g'teed return to those sponsors? Don't think so at this stage.
I think that we can safely say that as far as I can see, the only thing that is certain is the 'Potential' side of it but without the ingredients. That Adjective remains........simply a word with no meaning within the realms of FLPC......just a charade unfortunately, but I do wish something would happen for you guys who have waited such a long time at a high price. The clocks ticking.
Actually, William Voaden knows a thing or two about Mining. Don't forget he was with Pan Pacific Aggregates a few years ago. He's one of the blokes that help break the bank and pu the company into a CVA (Company Voluntary Arrangement) one stage before bankruptcy. Low and behold, ended up here along with his mate Don 'the con'.
If this $800K ends up here, I reckon it will disappear along with the BoD. Not 'overnight' but if you were running this business (as they do), and it's always at a loss, would you hang on the money, split it 'evenly' between the board and then close the company, or: Pay off your Creditors?
If I were in their shoes, I would find a very quick way of losing it and then clear off. In real life, I'm not like that.......only if I was one of that crafty lot! Once you get a shack load of cash in your hands, I would find it very difficult to hand it to those who have loaned it to me, and would find a way to wriggle out of paying it back...like filing for Bankruptcy AFTER the cash had been disposed of! Not sure how that would stand up in court but if people know when the cash is due, they could get a law suit going prior to the money coming in and it could be interecpted before it gets 'lost'!
What some people seem blinkered to is WHY in 4+ years, they have dug, marketed and sold, well......not an ounce of anything. Sure ly this must make your realise that thousands of Dollars has been put in to this company (and probably traded here to the benefit of some), but not spent on producing. All I read on their website is 4 years worth of proposals, leasing rights, agreements to sell minerals to X company, Access to Laboratories to process 'stuff' and if you look at all the texts, nowhere will your see the words, "We are currently drilling or drilled" or "We have mined X Tonnes of whatever", or "We are currently processing X tonnes previously Mined". PLUS we have an agreement with X company who has agreed to buy X Tonnes of whatever PROCESSED Mineral that we have currently sitting all 'bagged up and ready to load'!
All the Website says is purely in Future tense but with no reference to ANY form of Stockpiled mineral/Aggregate. If there was, you would see that people and subcontracters, Mineral processors, Plant Hire will all have to have been paid for their services. If they have, then there would be evidence of production with Invoices FROM the Subcontractors AND the processors to say what they are being paid for. If you see that, there will be Minerals sitting somewhere. I defy ANYONE to find evidence of such activity, anytine in the last 4 years.
I'm afraid to say that you won't find anything at all which gives the remotest clue to having reaped the benefits of selling product to anyone. If they have, and it was a fair amount that runs in to thousands of Dollars, show me a copy of the Tax Certificate that says how much financial gain they have made and how much Tax or not, they have paid.
It won't exist because this company submits LOSS sheets each year, no profit whatsoever and it will be riddled with Outgoings in everyday costs and wages. That's it.......skint, Zilch!
As I previuosly mentioned, at these levels, it will be tradeable or news and if you do, get in and out quickly. Don't forget...4 years and Zero production. That tells me they do not intend to produce anything (too costly) but want people to speculate to keep the coffers bolsted sufficiently enough to pay the rent and wages, because there is not enough to pay a mining company to dig anything up. It would costs Thousands and I would want some money up front to start my work with a signed agreement to pay money to keep pace with the work. It is unlikley to ever happen. Trade it yes, go long? Not likely!!
MAINESBEST:
I think that many people are thinking that after 4 years with no production, FLPC is going to rise from the dead! It just won't happen, but what should happen is that if they make a positive sounding announcement about how the company will progress and what they have in store, the Share Price is bound to excalate by a large %age, so it will become trading, IF YOUR QUICK!! Talk is cheap.
Once this has risen, it will retrace just as quickly, because there's no way that with any 'restructuring', FLPC will have ANY cash to put their money where their mouth is and after a short while, it will fall flat again. I think that with a few well written words, they will get more investment to further 'company progress'. However, not a single Dime will find it's way into making inroads into producing or even setting anything up even to consider producing. Any costs to futher this company will be taken up in 'admin' fees and when that's done, there will be no funding left anayway! It WILL NOT HAPPEN! It will simply be absorb by 'other unforseen costs'.
Just don't be drawn in unless you want to trade this one. You may get ONE chance to do this before they get rummbled again. Best of luck to those who get lucky,
You are exactly right. Nowhere, but nowhere do they say we are producing or have produced 'X' tonnes of anything. The Website is the Sprat to catch the Mackrell and they have hauled in some good catches over time. Quite honestly, I wonder if anyone knows whether or not the photo's on this Website are even connected with FLPC or the bag of Coal or whatever it is was taken in someone's back yard!
I like the bit where they say they have leasing rights to X land and 50% owner interest in something else, but what they actually own which is worth anything at all is actually.......NOTHING! They are effectively Broke with no liquid assets to grab and no business Units, nor land to sell. Leasing rights is a bit of paper that probably cost a few Dollars to compile and is in fact worthless until someone decides that on that land is a field of Oil, Ore, Copper or other mineable mineral. That would have been known at the time the 'rights' were issued and if it were any good, they would have sold it on or drilled it..... BUT Drilling costs a fortune a day so it would have never worked with no or very little available funds, unless it were proven to a Bank that a guarantee of results would be dead cert for them to repay a loan. Plus they have no security to offer in the event! It's a total Crock.
I would expect the to come up with a litle taster of 'things to come' (again), but don't be drawn in because it may just be the Dangling Carrot once more. It will be a last ditch attempt to get some cash into their pocket before the 'off'.