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Vozmil- As the last active moderator of this board, I want you to know that I appreciate your efforts to keep this Board running. That being said, your removal of a new speculator's post, Jacobmoore, is not particularly helpful in my opinion. This company and board is on life support and any opinions regarding the companny, the mining industry in general etc. should not be deleted unless it was seriously off topic. Please take this constructive criticism in a good light. Your deletion of my post, along with the new jaoobmoore poster, appears unfair. Thanks again for hanging in under difficult circumstances. If you want to ban me, so be it. Regards to all the few remaining old timers still out there. Iman
No idea when shares will be freely traded.
Good morning funseekers. Knowing the past history of company sham news releases(see posts of sortagreen et al),I expect that some sort of "major" annoncment will preceed the active trading of fmnjd post split stock. This will permit the various bagholders, some of whom are probably vendors who got shares below the one thousandth of a penny level, to recoup some of their money as new suckers(er I mean investors)look to buy in. When the smoke clears, I would agree with many that the stock can well be valued at a penny or two. WTF, I am holding until I see if the company can generate a business plan that appears somewhat real. Fool me once, fool me twice and fool me once again, its been a long,long ,ride.
Early pre market offer at .0002. I wonder if that is a sign that the reverse split will take effect today. Checking for news.
I agree. They can't pretend and they are probably right that most people who invest in this crap don't have a clue that they are illegally selling Treasury shares. As a lawyer, I can tell you that they may be subject to a major shareholder suit if they go ahead and reverse split the stock and then sell additional shares into the post split price. If course, if the company fails, a Judgement against them will not be worht the paper it is printed on. I wonder what a pair of sterling silver cuff links are worth. I hear Braniff is up for sale Billy P.
The failure to reverse split the authorized shares proves this is a Mickey Mouse operation. Who wnats to invest in a company with 20 billion authorized, a number appraoching the amount of hamburgers sold by Mickey Ds since its innception. Obvioulsy Petty iz signalling that he will be playing the same game will be selling shares for the treasury at .20 on down to .03 along with the other "investors" who took shares they bought below the .0001 mark to pay for equipment etc. Mart was right all along. They are a bunch of crooks.
Buy an airline indeed.This POS cannot afford to by a model airplane with a rubberband to move the propeller. Perhaps a kite with a long tail is possible,
A buyback is very unlikely as the company has no money.
You have a well deserved name.:)
The old adage on short selling when it was banned, dated back a century was: He who sells what isn't his-n, ends up going to pris-n. Those were the good old days.
I agree. But the real fraudulent activity is the selling of shares out of treasury without getting shareholder approval. Once a stock goes public, if it wants to sell addional shares from the outstnading, they have to do a second or a secdondary offering. They must issue a prospectus and offer the shares, usually through a underwriter at a set price. When it is announced, almost invariabley the stock price will fall near the new offer to prevent people from selling short ans then covering at the new offered share's price. With Frankie, we the shareholders have been secretly diluted without having a say.
Interesting theory. MMs covering a stock that sells for a thousandth of a penny. I wonder, from whom did they buy the 38 million shares in order to cover the short. Amazing how the myth of the mysterious short sellers continues. In fact, a stock does not qualify for a short sale unless it is $5. This facilitates the marginabality of a stock.
Why someone would pay $3800 for 38M shares when the price after the reverse is likely to be .10 for a 50% loss is beyond me. Or maybe this stock will rally after the reverse split. Very difficult to believe based upon past experience with the RS facha de morte.
Billy can you post the English translation of the negative Petty Blog for us gringos. Gracias en futuro.
Did a little further checking on Mogul Energy, the benefactor of the funding. Seems the company is trading at a solid 2 cents a share. Total market cap $230,000. It was trading around a buck or so before the 2008 crash. Last year, 2011, not so hot, Gross yearly revenues of $52,000. Wonder where they have the money to fund Fmnj. They did recently finish drilling of a well.
Check out the news.Tim Turner of Mogul Energy has alledly given the company funding to permit Bolser LTD to construct the infrastructure at the Escala mine. While there is,of course, no mention of the amount of funds Turner provided,or the terms of the deal regarding percentges of revenue split, for some reason this seems to be legit. Fool me once: Shame on you; fool me twice: shame on me; fool me 10 times: I guess I am a fool. We shall see. Let the bashing begin!
Can someone translate the articulo acerca de senor Petty en el periodico, por favor. Muchas gracias.
Agreed Mart except I think that sleazy, slick Willy has a lot of energy for a man of his age. Of course, he is a godlike figure among los indios trabajores that inhabit the netherworld of the Bowleevian economy. Take a look at the picture from the areolinea he is going to "save". I think the whole venture may be a front for selling coca leaves which is the main sorce of the economy in this poor excuse for a country. Pathetic.
Absolutely amazing that Petty can lie to every interviewer and continue to put out false statements. Billy Cuff Links should write a sequel to "The Great Omposter" and "Catch Me If You Can." He makes his predecessor in this company, Martinscillscum's namesake, look like a rank amateur. I have a new name for this dude: PETTYNOCHIO. ?Come se dice snoozola grande en espanol? Franklin Freakin Crook. (now let me tell you how I really feel)
Reverse splits rarely work out. Look at Bluefly(BFLY) reverse split 1 for 10 in April 2008 going to 4.60(btw DJ was 13,000 at the time- same as now) Stock was as high as 17 in 2005 post split adjustment. Current price 1.70! Other recent examples of bad reverse splits of companies of much higher quality are :citigroup C, 1 for 10 a year ago to reach $45 stock price today $32; See also CIEN and JAVA(taken over by oracle for 9.50). Point is while most here have had their investments wiped out on paper,this split will finalize the wipeout making recovery of losses impossible. The buyback comment is a ploy to try to artificially stop the selling which will ensue when the stock opens at .15-.20 and immediately dives down to .03. If you are old enough to remember the closing line of LOoney Tunes, Daffy announces a good epitaph for this company post split "THAT'S ALL FOLKS".
What agreement is Austin referring to?
MY math must be bad. Thought that you divide 20 billion by 2000 to get 100 million. If stock trades at 50 cents(after a quick sale of those who can get $2(lots of luck-lol), the company would have market cap of $50 million, a number which doesn't seem unrealistic to moi. How are you anyway sortagreen and trueheart? Comments? I hear that the ex secret service men will soon be traveling to Bolivia to visit the fair maidens who service the emaciated boy miners; but that is from a bellboy who likes to spread roomers. (sic).
Won't the outstanding shares be reduced from 20 billion to 100 million? Sure looks better on paper anyway.
New stock based on reverse split seems to have occurred. My account shows no bid/ask. Does anyone know the new post reverse split symbol?
Finally a trade after a 3 day haitus. As Dr. Frankenstein would say:" He's alive!!"
The opinions about the mega oustanding shares, while valid, fail to consider the dilemma faced by management of running a start up mining company. If one studies functioning miining companies, you will see that it takes millions of dollars to develop the infrastucture such as roadways, buy expensive equipment and processing facilities, hiring of workers, feeding and clothing their families in remote sections where mining is done etc. etc. This company had no capital for these expenditures and unfortunately was hit with the worldwide recession that commenced 4 years ago, which made banks loans and venture capital investment scarce, if not impossible. Billy Cuff Links and his predecessor, Jaime,had to either form joint ventures with companies that had capital, or give shares to vendors with the promise that they would make back thieir investment many times over when the company succeeded. I don't see any other way they could have survived, if this can be charitably be called a living company,without the massive dilution of shares whose legality of issuance,without shareholder approval, I have serious doubts. For Crisssakes, even GM required a bailout and we aint no GM. The constant whining over the OS is both unproductive and does nothing more than make the bagholders and optimists alike feel badly. How about some positive criticism once in a while.
Insurance on a vet is too expensive in NY as they are often stolen. Beside I can't afford the gas so I'll stick with the plane. Nice bowl win for youse guys up north. My neice graduated from U of W. She is still thawing out.
Unfortunately is you Google the term, you will find it is also the Motto of George Lincoln Rockwell who I hope is not resting in peace. Interesting how polar opposites, Masons and Nazis, can both use the same phraseology. We are better off with: Hi HO Silver, Away. Cioa, Kimosabe..... Oops forgot we have to use the vernacular of the good old US of A.
c6 I hate to "badger" you, but a G4 is also a Gulfstream 4 private jet. Vets are fast but not that fast. While it is cold here on Long Island, our weather would be a veritable heat wave out your way. Happy New Year!
Jerry I do my own research. Years ago a friend gave me a "tip" on an undervalued start up mining company. After looking at the possible growth of the company based on its reports and business plan, I bought some at 3 cents and when it went to a tenth of a penny I took a shot buying 8 million more for 8 grand. Stock took off when it started to get touted by Andy Austin and I was lucky enough to sell a lot of shares on May 1 when the stock reached a .13 high before Evo Morales announced that he was nationalizing the mining industry. Felt prety smart until I made the mistake that the company was legit and that the government loved them and bougnt back in from 3 cents down to the micrro level. While there is still a slim chance that this can work out,the fact is that the current and prior CEOs were and are liars who illegally, in my opinion, sold Treasury shares to contractors and big investors without stockholder approval. Still had hopes that the buyers had inside info that would eventually work out. I no longer believe that. Just a friggin lottery ticket now that has a expiration date when the company goes belly up which may be this year. That wouldn't be a bad thing since life and investors here can move on. Stock has no market if you want to sell so I would not recommend anyone buy this POS. Now if you want to know how I really feel about this investment............
The website for the contractor at the Escala, Bolser Ltda, looks like a legitimate company that has a few impressive clients. Maybe, just maybe there is some hope that they will actually do some mining. One never knows. You may get your C6 yet and we can have a race against my G4.
De Nada- You're welcome.
becuaseus the moderatus havus no humuras des sensa. Me appreciato amigus. Havus a greatas dia and happy new year to all.
Talking about cameras, why so negative?
As a long tome investor, I recall the definition of a long term capital gain: A short term trade that didn't work out. As a confirmed contrarian( often, unfortunately, in momentum type markets), I look for the proverbial investor sentiment of throwing in the towel for companies with decent basic fundamentals. The recent bailout of the guy who will no longer follow the company, as well as the post verdict massacre, makes this look like an attractive play to me. While it may take a few long months before it fills the gap, I am nibbling here and even took a stab at some Jan 10 calls which are cheap because the earliest further litiagation results appear to be sometime in Feb. Lucked out last month by selling the out of the money calls which flew just before the verdict was announced but lost on the at the money calls. Kicking myself for not buying the puts at the end as an insurance hedge. Good luck to all the long suffering longtimers.
Agree that stock needs to hit higher interim highs around the 18.38-18.50 area. While it will be hard to maintaion momentum in a weak stock market(and todays news out of England suggesting stagflation does not help)if the jury returns today, some more betters may return to the table. Need a strong admonishment from the Juge today to get crackin.
CJ- You have to read the releases carefully. It didn't say that fmnj has now been funded by a group of rich, unnamed Saudi Arabians. Senor Petty likes to throw in some names to make you think he has the ear of big money. Hence we hear about the great Rothschild guy or about Arabs or some other group. That being said, the new President does have a nice website for his Segovia Group and hopefully can help with infrastucture contracting. I am willing to give him a chance.
I see what you mean. This presentation gives boring a bad name. It was informative that any verdict in the AT case has joint and severable laibility, making both defendant's liable to pay the entire damages if the other defendant can't pay. This is an important factor in collectability but I think they settle after the verdict. Not ruling out a possible merger if the price is right. Hope the jury returns tomorrow.
Stock should get an after hours boost at the 4 pm nyc conference. They are sure to mention the SF trial and this last agreement continues a growth trend. If the Jury shows up tomorrow, there are some cheap lottery tickets for sale on out of money nov options. Most on mine are in the money here but it is still too expensive to go to the Dec calls. I am gettingt antsy. Mu up 3%. How that stock can have any momentum given the possibility of a devastating verdict with a costly bond and a lenghty appeal likely makes me scrtatch my head. I hope that there is a strong close with a little frontrunning of potential news and a dog and pony show pump.