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That's exactly what I'm saying.
Let's look at their distribution. Here is a map of the zip codes they are in:
Now, we zoom into LA and look at the stores they are in:
Now, we look at all the stores that sell liquor in that area:
Do you know how expensive TV GRP's are in LA? Commercial's would be a complete waste of money until you are in at least half of those stores.
I do marketing science for a living.
The absolute number one driver of sales is distribution... Period.
Number two, price.
Next comes branding and marketing.
Commercials won't do anything when you're product isn't readily available.
TV is expensive and ineffective if its not done frequently and properly.
Why on earth would you think that they would be able to execute these huge contracts when they can't even get product and mass distribution in their own back yard?
I asked that question several months ago before I sold.
I wish the company and it's investors well, but everything seemed to good to be true. Look at some of my old posts after I realized the bubble burst.
I assure you, the contracts aren't what you think they are. If there is distribution internationally, its going to be one or two small time distributors moving it to a handful of stores.
We should get notice in the mail in the next few days and they can file 20 days after.
"Pursuant to Rule 14c-2 under the Exchange Act, the Authorized Capital Increase will not be effective, until at least twenty (20) days after initial date on which this Information Statement is mailed to the Company’s stockholders. The Company anticipates that this Information Statement will be mailed to our stockholders on or about August 16, 2014. Therefore, the Company anticipates that the Authorized Capital Increase will be effective, and the Amendment to our Articles of Incorporation will be filed with the Secretary of State for the State of Nevada, on or about September 4, 2014."
Thanks for sharing.
I also suspect that a lot deals won't be final until the AS increase goes through.
Either way, this is yet another consistent message, that things are happening, and we need to just continue to be patient.
As I understand it, the technology they have access to is something that no other small mining company in the area as.
Sent to me a few weeks ago...
"As in any original 'idea' one needs time, money, a team and a substantial competitive advantage which might even be proprietary."
In my opinion, there is enough shares left after the increase to pay off converters and still raise $3M in cash, using the G8MI deal as a bench mark.
If we can get share support and get the PPS up to around 0.01, the future would look much much brighter for us.
I expect some news out over the next month that gives us and other potential investors clarity. Stock support is critical to preserve our investment here, however.
I'll take +20% today!
A man can dream, can't he?
Where are all the shares that were issued last week, that's the question.
I'll add my two cents since I've been invested with a company going through convertibles for the last 9 months. Their filings are much more detailed than MRIB, however, on the issue.
In my experience, the company issues a note and in return gets cash. The note will carry an interest rate. Whatever date principle and interest are due, the note is converted into stock. The conversion price is usually at a steep discount (30-50%) applied to the lowest closing price in the 10 days leading up to the due date.
These shares are not part of the OS until they are converted on the due date. These shares are not restricted.
One thing I have learned recently is that the lender can require the company to keep AS as reserved shares, but those shares do not show up in the OS.
The question for you all is, how many more of these convertibles are going to be coming due? Durations are usually 6-12 months, from what I've been dealing with.
At this point, Murdock is getting a whopping $1000 in shares per month.
It's certainly possible that investors may be disappointed with what they have to tell us. I get a different impression, however.
Either way, there certainly is some information that is being held back from the investors. For what reason, I'm not sure.
Funding still needs to be established and it all rides on that.
From Tom Dean, just minutes ago:
"Positive feelings, (my name), but I can't articulate them. Everyone at FLPC is very well aware that silence is deadly, not golden, but news can't be "manufactured". There will be specific announcements made whenever there is a reason and an ability to do so. I am still hopeful that August will produce some results in that regard.
Best,
Tom"
I agree!
Jimmy is back in Reno and him and his operations team are working as quickly as time and funds allow.
4 people on his team, as I understand it, with more that will be under contract soon.
Be clear. What are you saying.
It's 3-5%.
You're at 3% to 5% IMO.
I still don't get it. What if every share of common stock voted and every preferred share voted? How many votes would there be?
I was expecting a massacre today, personally.
When those big trades go through, are they prearranged?
If you think the mill is 50/50, then this is a good investment. Surely the upside of proposition is greater than the downside.
Yea, I know. But, that doesn't seem like the right way to do it?
Not my area of expertise, though.
"As of July 9, 2014, there were 744,514,096 shares of the Company’s common stock issued and outstanding and 5,000,000 shares of
the Company’s preferred stock outstanding. Each holder of common stock is entitled to one vote per share. Each holder of preferred
stock is entitled to 80 votes per share.
The Majority Stockholders, as stockholders holding in the aggregate 89,167,268 shares of common stock of the Company and
5,000,000 shares of the preferred stock of the Company, which combined represents 65.27% of the voting power of our outstanding
shares of common stock, have approved the Authorized Capital Increase by written consent dated July 10, 2014."
So that is 744,514,096 + 400,000,000 = 1,144,514,096 votes.
How is 89,167,268 + 400,000,000 = 489,167,268 a total of 65.27%?
Seems to me like it is only 42.74%.
What am I missing?
The filing does have some interesting information in it. It is worth a read.
I have no clue what he means.
I guess I'll start the day off...
FLPC!
For what it's worth... From JT..
"Thanks and keep in touch and it seems that we are ready to start pumping out news that will deliver results."
News is coming, that much we do know.
All this talk about being sold out... It's not a good thing.
Were their only 3 bottles left of any other vodka? Probably not. Does that mean Marani was the number one seller? Nope. It just means they're the most poorly run.
Stores don't stay in business with empty shelf space.
You guys need to hope they get their act together.
Come on ST99.
We'll be makin' it rain soon enough.
G8MI bought $200k worth of shares at more than 3 times the market price. Probably so they don't look like they raped us when this thing takes off.
The optimist's translation of Don's update yesterday:
Thanks for being patient, things are happening, we just need some more time for things to come together.
And oh yea, we're taking all the shares we can get and holding them cause they're cheap as balls right now.
All IMO.
Nothing new there.
Those two months are our best shot of making a significant recovery, in my opinion.
I posted some stuff Friday night. Haven't reached out since Friday. I will later this week.
The message is consistent. There is a lot of news that needs to come out, but it seems the ball is in Don's court. I'm not sure what they are waiting for. There is a convertible due Friday, if I'm not mistaken, but I don't recall many more for a while after that.
They could be waiting for that to clear? I think there is a lot of reasons for convertible guy to push this down between now and friday IMO.
Murdock gets paid a fixed amount of shares and the total is quite low. We do not yet know what Murdock has brought to the table, but we've been told that their value is expected to become more apparent in the coming months.
I've thought about that as well. If the lithium is that valuable, then someone else will step in. I guess it comes to the relationship we have with the owners.
t sounds like a good problem, but it is actually a very bad problem.
The most current and accurate information we have with respect to our lithium agreement is found in the previous annual report. This number of $100k, that is old. At this point, we are in default $300k and will owe an additional $400k by the end of next year.
IN ADDITION, by the end of this year we are required to spend $1.5M in total exploration work on the properties and we have spent a total of only $80k.
Now, I'm not J.P. Morgan, but it appears to me that we will be in default $2M on this agreement by the end of the year.
The ONLY news I want to hear about this is that they reworked the agreement and the timelines are more aligned with the company's current long-run plan. Or, by some miracle, they are able to secure an investor that is willing to sink that much money into exploring property that doesn't even have proven commercially viable quantities of lithium.
A) Lithium Agreement:
Claims
On May 31, 2012, we entered into a purchase agreement with GeoXplor Corp. (“Lithium Agreement”). Under this Lithium Agreement, we have been granted an exclusive four year
exploration license in regards to the two mineral properties described in the Lithium Agreement. One property encompasses 58 placer claims (9280 acres) located in Lida Valley,
Esmeralda County, Nevada for Lithium and Lithium Carbonate exploration (the "Lida Valley Property"), and the other encompasses 70 placer claims (11,200 acres) located in
Smokey Valley, Esmeralda County, Nevada for Lithium and Lithium Carbonate exploration (the "Smokey Valley Property"). These requirements apply to both the Lida Valley
Property and the Smokey Valley Property, and the Work Program requirements may be allocated to the respective properties at the discretion of the Company. The Lida Valley
Property encompasses claims previously included in agreements between the Company and GeoXplor, specifically the Purchase agreement between the Company and GeoXplor
dated December 24, 2009. This Agreement supersedes and replaces all prior agreements in respect to those claims.
Under the Lithium Agreement, the Company is required to:
Make Cash Payments - First Liberty shall pay GeoXplor in consideration of the grant of the exploration license and other rights granted under this Agreement a total of
$725,000, according to the following schedule:
(1) Twenty-Five Thousand Dollars ($25,000.00) within 5 days of the execution of this agreement, which amount was paid during the year ended July 31, 2012;
(2) One-hundred Thousand Dollars ($100,000.00) to GeoXplor on or before December 31, 2012, which amount remains outstanding as the date of this filing;
(3) Two-hundred Thousand Dollars ($200,000.00) to GeoXplor on or before December 31, 2013;
(4) Two-hundred Thousand Dollars ($200,000.00) to GeoXplor on or before December 31, 2014;
(5) Two-hundred Thousand Dollars ($200,000.00) to GeoXplor on or before December 31, 2015;
Stock Issuance – As additional consideration, the Purchase Price shall include the issuance of 2,000,000 Shares, subject to such conditions as may be imposed by the rules and
regulations of the United States Securities and Exchange Commission, as follows:
(1) Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2012, which amount remains outstanding as the date of this filing;
(2) Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2013;
(3) Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2014;
(4) Five-hundred Thousand (500,000) Shares to GeoXplor on or before December 31, 2015;
Work Commitment – First Liberty shall expend not less than One Million Five-Hundred Thousand Dollars ($1,500,000) in Mineral Exploration and Development Testing ("Work").
The Work shall be scheduled according to the following schedule:
(1) One Hundred Thousand Dollars ($100,000.00) on or before November 15, 2012, which amount remains outstanding as of the date of this filing;
(2) Four-hundred Thousand Dollars ($400,000.00) on or before December 31, 2012, which amount remains outstanding as of the date of this filing;
(3) Five-hundred Thousand Dollars ($500,000.00) on or before December 31, 2013;
(4) Five-hundred Thousand Dollars ($500,000.00) on or before December 31, 2014;
As of date of this report, the Company has expended approximately $80,000 towards the required work program. The Company is presently in negotiations for an amendment to the
Lithium Agreement, which will adjust the stock and payment work requirements.
The Company is in default on its obligations under the agreements. Through to the fiscal year end and date of this report, the Company has not yet achieved a formal extension
and settlement agreement. However, the Company believes it will be possible to obtain such an agreement on terms acceptable to all parties. Until such an agreement is reached,
the value of the properties under the Lithium Agreement have been impaired to reflect the current status.
Conditions for Transfer of Title and Subsequent Limitations–
(1) At such time as the First Liberty has completed the required payments, work program and stock transfers, the Properties shall be transferred to First Liberty by Quitclaim
Deed.
(2) Concurrently with the transfer of title to First Liberty, First Liberty shall convey to GeoXplor a “Net Value Royalty” on production of lithium carbonate and other lithium
minerals from the Properties measured by five percent (5%) of the gross proceeds received by the First Liberty from the sale or other disposition of lithium carbonate or
other lithium compounds less (i) transportation of the product from the place of treatment to the purchaser, (ii) all handling and insurance charges associated with the
transportation, and (iii) any taxes associated with the sale or disposition of the product (excluding any income taxes of First Liberty). First Liberty shall have the further
right to purchase up to four percent (4%) of the Net Value Royalty, in whole percentage points, for One Million Dollars ($1,000,000) for each one percent (1%).
(3) If First Liberty, its assignee or a joint venture including First Liberty, (i) delivers to its Board of Directors or applicable other management a feasibility study
recommending mining of lithium carbonate or other lithium compound from the Properties and such Board of management authorizes implementation of a mining plan,
or (ii) sells, options, assigns, disposes or otherwise alienates all or a portion of its interest in the Properties, First Liberty shall pay GeoXplor an additional bonus of Five
Hundred Thousand Dollars ($500,000) in cash or Shares of First Liberty. The election to obtain cash or shares of First Liberty shall be at the sole election of GeoXplor.
I think comments about lithium at this point in time would be a pretty transparent attempt to artificially build support. The last thing I want to see are fluff PRs that have nothing to do with getting us to revenue. Read the filings, they're in default or will be by the end of the year on their lithium properties. There isn't millions of dollars available to properly develop that part of the business, in my opinion. Get us a mill and potentially $10M+ cash flow next year and then maybe talk lithium.
Lithium is a pretty risky venture and could potentially ruin the company if they over extend themselves or move too early.
The potential for lithium down the road is apparent, and if you think it adds real value to the company, then enjoy the cheap shares and wait. The mill and where we will be getting ore are the only things I care about right now.