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The deal is Euro based. It is not what the company will pay out to shareholders ===> Greenbacks! ...and lots of them.
When we get paid, are the concerned citizens going to complain it won't be in Japanese Yen, British Pounds, or Thai Baht? They should instead be "happy" the company is methodically moving the deal to signature. If the deal is indeed consumated and they won't cheer at that time, then something is drastically wrong!
Within 15 days the deal will be completed. Tic Toc
Yesterday's email from FFGO:
Fortress Financial Group, Inc. - Company Addresses Shareholder Issues July 21, 2010
Dear Stockholder;
The Form 8-K filed today, reflects that the Company stated that as part of terms and conditions agreed with Sloane Investments, Inc., " that in the event of the Company breaching its contractual obligations to Sloane Investments, Inc., it could result in Sloane Investments, Inc. taking action to exercise its legal and contractual remedies or to join in an involuntary petition for the Company's bankruptcy.".
This has resulted in wild and inaccurate statements being posted on Internet Stock Chat Forums intimating and in some cases, stating that Sloane Investments, Inc. wishes to place Fortress Financial Group, Inc. in bankruptcy and intends to "steal" the Company's Mining Interests.
These statements are completely unfounded, legally and factually incorrect; and this Company is very satisfied that it will meet its contractual obligations to Sloane Investments, Inc. and is of the opinion that Sloane Investments, Inc., would have no material benefit from any such legal actions given that their interests mirror those of the general body of stockholders, those very clearly being "Get the Deal Done Now and Distribute the Sale Proceeds as a Dividend".
Furthermore, Sloane Investments, Inc. did not acquire 23.59% of this Company's shares of outstanding Common Stock to bankrupt the Company, become a creditor in a bankruptcy and delay their and all stockholders receipt of a Dividend representing the sale proceeds of this Company's sale of its Gold interests.
We have received numerous requests from stockholders (and other parties) in respect of the identity of the purchaser of our Company's Gold assets. Naturally, we are not permitted to divulge those details ahead of an announcement as the purchaser is a publicly traded corporation. Once again, the wild, irresponsible and inaccurate speculation on Internet Stock Chat Forums is very unhelpful and decidedly misleading to our stockholders.
Statements on the various Internet Stock Chat Forums by the identifiable posters aka "the usual suspects" regarding the validity and ownership of the Company's Gold interests in Bouse Gold, Inc. and South Copperstone, Inc. in terms of their agreements with Searchlight Exploration, LLC are very well documented and these lies posted by the identifiable posters are easily disprovable. In that respect, we are more than happy to provide additional information to any of our stockholders who are seeking such proof.
In respect to the value of the Company's Gold interests and the sale price of these assets; no changes have been made to the "pricing guidelines" that have been provided to our stockholders in both Press Releases and in Regulatory Filings.
On the subject of Internet Stock Chat Forums, we are acutely aware of the false, misleading and libelous statements being continually and repeatedly posted by identified individuals aka "the usual suspects". We are very aware (as are many of our stockholders) that one of principal financiers of our Company is now seeking fairly serious and public legal redress against these identified posters for libel, amongst other claims; we are not joining his legal action, nor do we have any part in his actions. Our attention has been drawn to several other similar lawsuits that have been filed by publicly traded corporations against these identifiable posters, again, the "usual suspects". A very clear pattern has emerged, we are now of the opinion that their activities are in all likelihood; malicious, deliberate, sinister and very possibly designed and orchestrated to cause damage to our Company and its stockholders. We are however extremely unsure as to their agenda and really do not wish to speculate further on this subject unless we are presented with clear and irrefutable evidence of any civil or criminal wrongdoing on their part. However, having said that, with our Company now closing the sale of its remaining assets and distributing the proceeds therefrom to our stockholders, the Company itself shall treat these identifiable posters with disdain, and at this time, as mere "white noise" and of absolutely no consequence whatsoever. Whilst we know that our stockholders are very annoyed, some are incensed by the activities of these identifiable posters; we do urge them to simply ignore these posters and to take a similar stance being adopted by ourselves. Stockholders are asked to please bear in mind that many of the Company's detractors may simply be exercising their right to free speech and airing their thoughts on the Internet Stock Chat Forums as is their right to do so, provided that these statements posted are not libelous in any manner.
We trust that this lays these matters to rest, once and for all.
On a separate note, our Investor Relations firm has compiled a list of all other pertinent questions that stockholders required answering. These will be addressed by myself and Advisors tomorrow, the "Q & A" section of our website updated accordingly and an E Mail will dealing with these issues will be sent to our stockholders. We remain committed to complete transparency, we will deal with all these issues in depth in order for there to be no uncertainty whatsoever amongst our stockholders what with the execution of the sale of our Company's Gold interests now being days away.
Sincerely yours;
Peter J. Bezzano
CHAIRMAN
Well put V. It is asking to prove a negative rather than a positive such as: "Prove aliens don't exist."
Think though your comment. Shareholders own the assets. Do you want to charge yourself interest and pay yourself?
Thurston: What a great letter! It addressed the salient points with vigor. It is obvious the deal will go through. I trust there is a cash component as Sloane will get reimbursed for laying out the funds.
Then I guess you shouldn't be a shareholder if you can't wait until August 6th, just 16 days from now. Better move to something else.
Just because an ostrich sticks his head in the sand and denies the impending FFGO dividend doesn't mean a hunter can't shoot it in the butt with a short squeeze. Ouch! Within 16 days.
There are always shares available, just at a higher price!
So what did everyone learn today and WhatDoesItAllMean? How about feedback from new or seldom posters?
They are forced to. Ouch!
Therefore are you implying if the price initially went to $0.0002 it would then fly due to margin calls causing a squeezeeee? It sounds painful.
Per the latest 8K we now know the deal will be signed by August 6th and paid to FFGO by August 12th. August 6 is just 16 days from today! The document was filed with the SEC. The various spurious allegations on this board were proven false by the DD completed by Alan and Texan. Thank you both.
Well, now that Alan did a commendable job exposing the fiction, we can move on. What is the motivation for such claims and how many others will be devised? This is not just a matter of conflicting opinions. The true tort against FFGO is being revealed as the companies move ever closer to completing the sale.
No, it was not the same debt. It is the residual debt.
This is well executed and shareholders will be rewarded despite spins put on by others. The companies are methodically consolidating debt, aligning all parties' interests, and ultimately bringing this to conclusion. Others can say what they want, try to instigate fear, but it doesn't change the course of events. The intrinsic value will ultimately be unlocked.
So you agree then that all this discussion of bankruptcy is moot. Good! Thank you for clarifying this.
The clause was put into the 8K as a matter of procedure. The deal is done otherwise neither party wouldn't have agreed to these terms. Enough said.
The court appointed "guardian" doesn't know squat about selling gold interest or anything else.
Again you are incorrect. A court appointed guardian (I don't know why you put it in quotes because that is what they are called) has a legal obligation to get maximum value which includes hiring qualified advisors. So, I can't see how you can generalize and hypothesize a bankruptcy judge would appoint someone who can't do the job. The backruptcy court specializes in appointing guardians all the time.
You are wrong. If the company goes into default and is forced into involuntary bankruptcy, the notes are senior and will have first claim on the assets over shareholders. Sloane doesn't just "get" the properties. They only would receive up to the value of the notes. The residual value goes to the shareholders. A court appointed guardian of the corporate corpus would be appointed to get maximum value. The court doesn't just give away assets. Bottom line is Sloane's interest are indeed aligned with FFGO's. Don't try to spin this because this is how bankruptcy works.
Sloane can't get any more than they are owed. The property will still have to be sold and there will be residual value due the shareholders. Therefore the deal will still have to go through.
Although I missed it the first time and it does indeed say the 31st, there will be a correcting 8K. True, the dates should have been consistant and proofed, but the take away point here is that we now know the deal is going to be inked by August 6th. The Company is not concerned with chatter on various blog sites but is executing the sale. People can try to spin this but the sale is by August 6th. I don't care what anyone says to the contrary because I will be getting paid along with Sloane. Who are you going to emulate, a firm laying out MILLIONS or chatter on blog sites?
You guys crack me up! The dates are now public and yet you STILL try to spin this as negative. FUNNY! Short MM must be worried.
Incorrect, it is the 13th. Here is the link to the SEC. Paste it into your browser.
http://sec.gov/Archives/edgar/data/802206/000101376210001667/form8k.htm
There are 3 events: Deal is signed by August 6th, FFGO receives the proceeds by August 12th, and pays Sloane by August 13th. You had a misprint saying the 31st.
WOW!!! It shows the deal will be consumated by August 6th!!!!!!
EXPECT a dividend. Expect a L A R G E dividend. Expect the price to soar. Expect the pennystock media to pick this up causing a feeding frenzy. WOW!
" I understand your point. But please don't bring a man such as Warren Buffet into a FFGO discussion. There is no comparrison in any way. Buffett has always made his investors money. He did it with character and honesty. Please again FFGO board has never even earned is name being mentioned here. Its kinda like all the folks saying LOTTO Ticket!! Getting old."
In case you actually missed the point, it is patience. I probably will make a lot more on FFGO than my single share of BRK.A. Speaking of getting old, the people who constantly say scam are way, way, beyond old and you know it.
Some people who are disenchanted with the company own FFGO shares and still will be paid.
It is obvious the Company is proceeding in a methodical way to consummate the deal. I am not concerned with those who look at the glass as half empty or completely empty as they have NO influence. The people who bought are holding and will be paid well for the rollercoaster ride. The others will be proven wrong, get paid too, and move on. Read the last sentence any way that is pertinent.
August gold is up $9.40 today. As everyone knows the deal is tied to the price of gold. Tic Toc.
I am not making any claims, he is. Therefore he has the burden of proof.
No, incorrect. Your claim appears to be bogus so the board is requesting proof. Today obviously is turning out different that many planned. Offense became defense. The ball was intercepted!
Firelane: Obviously you don't have a name, therefore, make a call to them, get a name, ask the same question(s) you supposedly did in the past, and provide that info to the board. Saying anyone else can do the same does NOT verify you ever called.
TO SUM UP FFGO 7/14/10:
The Company is disposing of its gold mining interests in Bouse and South Copperstone and will announce VERY SOON the “Record Date” and “Pay Date” for an Extraordinary Dividend of NO LESS than .003/share. The dividend will likely be higher (as stated by the Company in PRs) due to the higher price of GOLD since they gave us the .003 estimate. We do not know if it is cash or stock or both but we do KNOW the deal will NOT be settled in restricted shares as per the 12/9/09 Press Release. See paragraph further below in Red.
EMAIL TO SHAREHOLDERS 7/9/10: UPDATE ON PROCEDURE TO RECEIVE EXTRAORDINARY DIVIDEND
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52140756
The Company can confirm that this purchase price of this Offer is not being settled through the issue of restricted shares of Common Stock from another quoted Company, to your Company. Such an arrangement would not be acceptable to your Company's Management nor to the holders of Loan Notes issued by the Company.
The stock is at .0001 with NO REVERSE SPLIT imminent as confirmed by the Company.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51753056
A stock at .0001 is offering a dividend of no less than.003/share; therefore, it's a matter of whether you choose to believe it or not and risk your money. Overall, MANY here believe that the dividend will happen as I do and are loaded and others don't of course. Also, it is believed that the stock price might move for other reasons such as a possible short position here. Many insist "passionately" that it is ZERO. Others disagree with the same intensity. Overall, FFGO is a WILD RISKY RIDE! Keep that in mind and play with money you can afford to lose as is the case with any stock, particularly Penny Stocks.
Next, the Share Structure is unattractive (see link below – info from the Transfer Agent,) but MOST IMPORTANTLY, the pricing guidelines have remained unchanged and we will get NO LESS than .003/share regardless of the size of the O/S which is approx. 75B. Also, most of the Outstanding has been used to pay debt recently* and 67B are in physical certificates. Next, we have a new substantial shareholder that owns 17.6B shares having paid .0035/share. These shares are in certificate form and included in the 67B #. Also, the new substantial shareholder "could" buy more...no less than 15B. See below in Red taken from the FAQ section of the website.
We are aware that this new stockholder could acquire no less than an additional 15 billion shares of our free trading shares of Common Stock from identifiable stockholders, should it so wish, as these stockholders will not dispose of any of its stock in our Company at current market prices.
*UPDATE: As of 7/12/10: The new substantial shareholder, Sloane Investments, Inc. has acquired the Long and Short Term Debt of the Company.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52266076
Share Structure as of 6/22/10:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51633034
IMPT DD:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52264985
FFGO FAQs:
http://www.fortfinancegroup.com/faq.html
NEW WEBSITE:
http://www.fortfinancegroup.com
BACKGROUND ON MINES:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43982388
13-D filed 7/1/10 by NEW SUBSTANTIAL SHAREHOLDER for PURCHASE OF 17.6B shares at .0035/share:
Link to 13-D
SEC Filings:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000802206&owner=exclude&count=40
GOOD LUCK WITH YOUR DECISION!!
I hate to disappoint you but what you wrote is at variance with the truth. No dilution, the final deal is going to be transacted despite other deals that heretofore have not been consumated, and the previous delays were simply part of doing business. How many people have tried to sell a house and the original deal falls through. Does that mean they never sell the house, or does it mean they remain tenacious. Sorry pal, you are wrong and time will bear this out.
Your calculator must need batteries. 500,000,000 * $0.0001 = 50,000.
Logrithmically: 5 at 10 to the 8th power x 1 at 10 to the negative 4th power equals 5 at 10 to the 4th power which is the same as 50,000. You add the powers for multiplication. 8 plus negative 4 to equal 4. Hopefully this didn't burn out the rest of either your calculator or you.
Gagged probably means news pending.
"so the new deadline is now "
GREAT! When did you find out???