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SO, with the T/A problems taking centerstage and the likelihood that such problems put a freeze on "negotiations" regarding the "deal" for what will likely be an indefinite period of time, anyone want to guess how many trading days before this thing goes to zero bid?
My guess is Monday next week.
Anyone else?
I just found a quarter in the cushion of my easy chair. That'll buy me a cool 2500 shs which is all any sane person would risk in this regulatory fiasco.
See signature below for those of you commiting serious cash to this FFGO company.
whatever looking,
there are still way too many shares out there for a company with zero revenue and questionable assets if any.
But if you're okay with 30 billion, then what's 60 billion between friends. It's already beyond laughable as it stands.
100 billion????? Hey, but it's still a number south of the number of galaxies in the universe so ya got that going for ya.;)
And yet another reason I don't touch pinkies with found money.
Tex, no more offensive than the thought of buying FFGO at any price.
sorry brian, paunch sees it quite a bit different. In his view buying is picking up and the sells you reference are actually MM tricks designed to lead you to your mishapen conclusion.
Well at least its an update of sorts.
No, that's it. There's no "see" to it, it's all dry land.
Western is FFGO, they are not a new entity and therefore cannot acquire something it already owned prior to 2009.
You do realize somebody or anybody could have planted that company info. don't you?
Here, submit your own.
http://investing.businessweek.com/research/common/submitprivate/submitprivate.asp?from=stocks/private/snapshot.asp?privcapId=28544874
Substantially irrelevant insofar as Western is owned already now going on 4 years by GWGO=FFGO as a majority shareholder of more that 70% of the stock.
Texas, how could there be a leak of info already in the public domain since 2005?
Brads, and 2006, 2005 and as history will likely repeat itself with this crew, add 2007 2008 2009 2010....ad infinitum.
http://findarticles.com/p/articles/mi_pwwi/is_200512/ai_n15918272/
Good lord, how long have they been passing that shell back and forth and self-dealing in its own stock, 2005???
http://findarticles.com/p/articles/mi_pwwi/is_200512/ai_n15918272/
Read the whole convoluted tale of stock prop and swap, all 5 pages of it. And if after it, you still know whether to shite or wind your wrist watch, then a small miracle will have occurred.
define run.
abashii, I guess that would indicate that the bid could be less than .0001, maybe .00005 which would round up to .0001. I trust that you are just reporting a fact as evidenced by the trade confirm.
newtrader, I will bet good money that they are as suprised as I am that they have been granted a second life after the Harusu "bag over the head-kick in the pants" fiasco. It says a lot about the typical penny stock trader and his/her level of sophistication which isn't much. So, yeah, you're right, they certainly aren't going to cut off the money train they have happened into.
There will be a deal alright. But as usual, the devil will be in the details and the stock price is discounting that quite convincingly.
jufel, I think you are wrong. There is a deal however, it is as weird and convoluted and subject to being recinded just like the ones of the past. Unfortunately, FFGO took such a credibility hit with the last failed deal that there are very few believers despite the smattering of interest that occurs here and just about nowhere else.
If you want to see a company that's pretending to be engaged in mining activity go over here realize it's FFGO.
http://www.fortfinancegroup.com
Kmart, let's flip your logic a little to better help describe what we are seeing in this observable reality.
If it is the case that there is heavy selling which is obvious is and has been occurring for several week now, then the "deal" is not going to occur or if it does, it will be another paper play consisting of another related company owned by either Lumb or Bezzano that is supposedly the counterparty.
There, now that seems to be a more reasonable assessment here than your “what if” which is obviously not occurring.
Just trying to help.
We have a problem! Get me Rex Cramer!
MIke2211
I emailed Bezzano the reply link and also copied enforcement@sec.gov and wouldn't you know it, no reply.
Cat got his tongue???
Prop job newtrader...
I've spent the last few days, pouring over official and non-official documents, some dating back to 2005 or earlier, cross referencing the associated Company Officers, including background checks on each of them, etc...
I have come to the conclusion that this is what is known as a "Prop Job".
The companies associated are all owned and/or operated by Stephen C. Lumb, Ronald Y. Lowenthal, Peter J. Bezzano, Michael G. Saner and Alan Santini.
First and foremost, HGLC, which is run by the individuals listed above, is a non-reporting company, along with a host of other companies that are owned and operated by Stephen Lumb.
FFGO and HGLC share the same office space and the same Legal Counsel. If you compare the two companies, you will start to see that neither company has any revenue to speak of. In addition, neither company has filed a 10K or 10QSB, since 2005, when FFGO was still known as GWGO.
This is where the "Prop Job" comes into play. The companies are essentially supporting each other, through various PR's, each stating that they have value, which is based on the number of shares they hold of associated companies, which are owned by Stephen Lumb.
Essentially, they pass paper back and forth, which gives the appearance of value, deals being made, etc...
What caught my attention was the "Extraordinary Dividend".
After extensive review, I think the two companies are trying to garner outside interest (and sales), through consolidation of the two companies. Note - -
NEW YORK, NY, Jul 29, 2008 (MARKET WIRE via COMTEX) -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) notes that Hunt Gold Corporation has issued a Press Release today which states that Fortress Financial Group, Inc. is playing "hard ball" with them and that they are very likely subject to a takeover bid.
This is laughable, considering the relationship between the two companies and the fact that they are owned or operated by the same group of individuals.
Now, take into consideration the July 31st PR from FFGO...
NEW YORK, NY, Jul 31, 2008 (MARKET WIRE via COMTEX) -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it has received a short term Loan facility in the amount of US$50 million to be used solely for further purchases of Hunt Gold Corporation's "free trading" stock, at what we view as "bargain basement prices," in the market; thereby increasing our Company's "free trading" stockholding in Hunt Gold Corporation.
Again, laughable...
Now, a "Private Equity Firm" is attempting to purchase controlling interest in both companies..? Well, blow me down with a feather... Note - -
NEW YORK, NY, Aug 01, 2008 (MARKET WIRE via COMTEX) -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed this morning that it had received an offer for the Company which was valued at a price per share of US$0.025 per share. There were a number of conditions attached to this Offer and the Board of Directors requires more time before advising stockholders as to whether they can recommend this bid to stockholders.
The Board of Directors cautioned stockholders that the offer was made by a highly aggressive Private Equity Group which may attempt (and succeed) to purchase large blocks of this Company's stock; thereby giving it control of this Company through the "Back Door." We stated that we were powerless to stop this; should it occur.
Powerless..? I don't think so... There are many ways to stop a hostile takeover, IF they want to... Also, where did the Private Equity Group come up with .025 per share..? And, what is it based on..?
With no Audited Financials, I seriously doubt that any reputable Equity Company would make an offer, much less, an offer which is four times above where the stock is currently trading...
IMO - The "Highly Aggressive Private Equity Group" is just another company, owned and operated by Stephen Lumb and his crew, which they are using to not only consolidate the two companies, but also, to give the appearance that there is great interest in both companies, by an "Outside" suitor, which in-turn, creates even further interest by either current or perspective shareholders...
This has all the markings of a well thought out Paper Play, where the promoters get rich and the shareholders eventually get stuck holding shares of a worthless shell.
That's what your so called deal is...another paper play prop job.
But hey, doesn't mean you can't flip it.
So newtrader, what do you make of that?
I have a comment but you won't like it.
lookingforhelp, read your post. uhmmm, yeah, Loved it babe. Little suggestion though. When you want to demonstrate that your care level is at its lowest, the proper phrase is " I could'nt care less". To say that you could care less goes to say that at your current care level you could still care even less as you have not maxed out your apathy. Anyway, as I read your post, improper usage notwithstanding, I thought of this little Etrade add just for you.
cbrad, so what are you trying to say?
Looking for help...
1.Lower the A/S no brainer. Why bother the issued is already a sign of ungodly dilution.
2.Cancel the 3 billion for work never done no hard to do.
See answer to 1.
3.Release the true numbers from the TA which they have had for several days. What, and only confirm what everyone fears but is circumstantially evident anyway?
4.Give a update on the deal. Non-existent deals hardly need updating. They'll wait it out until they announce that the deal fell through al la Harusu. And as they have always included a Forward Looking Disclaimer, they face no liability.
Lookingforhelp, you missed who the insult was guided toward. Pity, I thought it was clear. Yes, Tex works his arse off to connect the dots, no question. Bezzano's flow of information or lack thereof, makes Tex's work necessary. And it is a quite a shame that if any of what Tex assembles as facts have any truth to them, then management is derelict in its duty to keep shareholders informed by putting those facts on a website which, to this day, is non-existent or permanently under construction.
See dazzling website below. It's the latest look in austere chic. All real companies are lining up to capture the design.
http://www.fortfinancegroup.com
I know, I know....pathetic isn't it for a company purportedly worth hundreds of millions of dollars.
Is your smell test functioning?
Oh yeah, and the phone number??? Try it. Again, another sign of a mega blue chip concern, not in service.
Dunphy, I'm no fan of Lumb/Bezzano or anything these swindlers touch and after reading a few of your post it's clear you aren't either. But you are clearly more informed about their supposed mining interests than I. But despite my lack of knowlege of said, my gut tells me these folks have invested into a dry hole and the only thing I see is a great transfer of wealth from a few thousand believers into the pockets of a couple of repeat overpromisers/underdeliverers.
Thoughts?
Tex!!! Bravo. If FFGO ever interviews for the position of Public Relations and Corporate Promotions Director, you're a lock. You've done more to tout the virtues of FFGO than any one single individual on FFGO's current payroll,Bezzano included.
Think about it. There's a job over there for you while you're waiting to become fabulously wealthy.
GMAC
Love it "ffgo will make some money for us longs".
That is going on my list of all time favorite last words along with...
"How was I supposed to know it was loaded..."
"I guess I should have checked to see if it was plugged in..."
"It didn't look that sharp..."
Thank you gmac.
And may you endure yet more "I told you so's" as what is obvious to anyone with a functioning braincell plays out over the next several months.
Why should it? It flatlined for almost all of 2009. Probably happen again knowing the shlubbs that run this "company".
Sorry, fellas, not to put too fine a point on it but from the past and the way it seems to be shaping up, it's all a load of crap designed to sell you shares in a sham.
bobby, from my long experience and dealings with business and property appraisals which involves the expertise of a certified appraisal by an independent expert in the business/property in question, it would be a first that an appropriate value of any entity is established and reported in a freaking 8K.
Are you serious?
Where are the studies and reports by independent third parties who might be examining the properties in question? Who have they hired to appraise the claims or mines? And are they only claims and as such expire and therefore in and of themselves are wasting assets that have no inherent value. They don’t own the land. ANd if they are mines that they own, what exactly are they selling that they shouldn’t have already marked to market on their balance sheet? Where is a balance sheet if they are selling the stock to this buyer. Wouldn't they need one as well or are they just going to plunk down hundreds of millions of dollars ignoring ordinary course due dilligence?
Just a whole bunch of questions that the stock price must have as well.
This group breaks more promises by 9:30am than most people break in a lifetime.
yardi, you raise a very good point. With even the faithful unwilling to buy @ the ask of .0003 and mountains of sales compared to buys daily, it certainly speaks volumes that they wouldn't buy despite being virtually assured of a ten bagger for a .0003 buy in.
NO, I would say that even the faithful have voted with their dollars and even they aren't so sure a deal is in the offing.
But they can say all day long that they are confident but the tape says otherwise.
No bidding war? Yeah, it's a real head scratcher.
cashmoney, agreed. Listen, all this fuss about the real o/s is getting tiresome. Try to keep things in perspective. This might help...in 1999 the Hubble Space Telescope estimated that there were 125 billion galaxies in the universe. Numbers being bandied about regarding the share structure of FFGO range from 28 to 35 biilion, a number substantially less than the number of galaxies in the universe. Now if that isn't good news to you, then you just aren't trying.
Good day.
Here's a thought...should a company that has Never, and I repeat, NEVER posted one period of revenues or profits there from, gone through several name changes and business focuses, recapitalized numerous times with the most recent share structure modification being a 1 for 2000 reverse split effectuated presumably to reduce the number of outstanding shares and yet even in the wake of said RS now has over 30 billion outstanding...I lost my train of thought.
Oh yeah, should the company I described above have even one share outstanding let alone 30 billion or so? And what is equally puzzling is that there could be any rational debate that dilution is in fact occurring. The debate should center around not that there is any dilution occurring, but in fact just how bad is it!
Mike2211, here, this should help. I think he deduced it from this post...
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirmed its Statement on December 9, 2009 and updated on December 16, 2009 and on December 21, 2009 and on January 5th, 2010 and on January 12th, 2010 and on January 19th, 2010 and on January 26th, 2010 and on February 4th, 2010 and on February 11th, 2010 {/Insert new date/ F= n+7/ } that it had received a confirmed Offer to acquire the Company's entire interest in both the "Bouse" and the "South Copperstone" Gold Properties.
Chas, probably one that's near bankrupt if it's sending posters to press the short side of stocks with little or no bid...like this one!
.0002 and still overvalued!
That is a logical conclusion. Slap on the wrist fine and promise not to do it again as is so typical with the SEC.
OH MY GAWD, YOU ARE SAYING THAT!
Colorado, I could be wrong, however didn't FFGO state they are writing HGLC off, if so didn't they own 48% of HGLC shares?
So in turn, does that not mean that HGLC just gained 48% of their shares back?
Are they being set up for future action? I think so.....