I am of the, perhaps, unique position in that I believe that BOTH FFGO and NSS'ers (MM's and others) broke the law in my opinion.

FFGO promised to deliver a cash dividend immediately after the sale of the gold mine. For months, FFGO had prior knowledge that there would be no immediate cash dividend (unless a person believes that FFGO wrote the FAQ's and sold the gold mine on the same day that they found out there would be no immediate cash dividend). Further, FFGO took compensation for the gold mines in the form of NMGL A&B's without compensating shareholders as promised.

NSS is obviously a crime of theft that not only directly steals, but, also has an indirect effect of stifling a company and keeping available capital out of the hands of the company. NSS is a very real problem that has not gone away. I do not believe it is an excuse. There are hundred of companies that have NSS. While, many like to imagine that the growing list of companies and individuals getting fined or prosecuted for NSS does not apply to FFGO, it does apply to FFGO. I would wager a bet that there is more proof of NSS in FFGO than was in the companies that have already had governmental prosecution. Governmental prosecution is going to start with the "low hanging fruit" of bigger companies with bigger headlines. It will take awhile to get to FFGO, but, it will happen IMO.

There is no hope that NSS criminals will rehabilitate themselves. They have to be pummelled into submission.

FFGO (NMGL) may or may not have some intention of delivering a dividend. Lowenthal has a good reputation in my opinion. There is some hope that, despite previous violations of the law (IMO), NMGL may still deliver a dividend. Maybe, even Lumb wants redemption and to do the right thing for once.

And you can't possibly be talking about naked shorters because the company has stated at least twice that there was not even a shred of evidence that naked shorting was a major factor as apparently was the ongoing claim of shareholders. I can once again give links to those statements, if you like.

And as for using a "There is no naked shorting" story as a means to trap shorty, well, I will tell you another fact. Both the SEC and the DOJ frown on companies lying to shareholders like that, if that was the case. Maybe if they had never made that public statement, you might have an argument for the super secret plan. But once the company announced that they didn't see any sign of such shorting, well then, the door was pretty much slammed shut on that defense.

During the 2010 FAQ's, yes, those remarks were made. AlanC has repeatedly posted a dozen or so press releases spanning several years where FFGO formerly known as GWGO, etc. had a large NSS problem they addressed in detail. Go back to 2005 and do some DD. Your "friend" may be long. People who are long are likely to research years of fundamental and technical analysis such as press releases and price charts to name a few.

That might explain the failure to confirm or deny our inquiries and the lack of an official response.

We need a IRS or U.S. Treasury Whistleblower paperwork started not with the intentions of personal gain, but, just to draw the attention to FFGO shareholder class.

You would think these agencies could atleast comment to the point where they could say that there is "pending activity" or a "pending investigation" that may conclude in this or that timeframe.

To totally be shut out by government officials with no official word after all this time is a BIG problem.

I have been waiting on the wings to force an ultimatum or pursue other law firms if we need to pursue legal action.

The problem is that I cannot get an official answer from the government or the company of the true nature and condition of the problems and where we are in addressing these problems. I don't want to send someone in the wrong direction. I really need a smoking gun and some clear, official direction to proceed with, IMO.

I actually did when you first mentioned it on another board. It is a great strategy and story. I would be glad to join a group with a FFGO GTC order at $1 if we get a coordinated attack when we can see the divvy or settlement or other action coming.

Let's team up.

It may be a simple question, but, the answer has been far from simple. Several people on this board have actually spoken to government officials about the discrepancies in the reported data and the missing data from when the reporting stopped etc..

The government officials were not able to confirm or deny or explain the discrepancies. To date, there has not been an official written or verbal confirmation of this data.

I could apply Occam's Razor and state that the simplest answer is that there is a problem. If there was no problem, government officials would reply to emails and phone calls in a forthright way with nothing to hide. The simplest answer is that is a problem.

Do you believe NITE and "friends" are big enough to support a dollar a share? If we add 85 billion authorized shares plus 10 billion short?? Could we have an Apple sized cash reserve (Apple has $98 billion in cash reserves) to pay out a $1 a share.

You might say that the DTCC would be forced to step in?

Illegal short selling is ILLEGAL for sure....

I have looked at the Sloan filing many times. While the price is around dividend price, there is no cash discussed in the filing, there is no term discussed in the filing. With no cash and no term, I have cannot say with clarity whether that filing is a positive or a negative.

As far as why the "numerous escape hatches have never used," I believe that is a risk/reward scenario. There is no reward for using the "escape hatch" and there would be increased risk of prosecution or lawsuits. It is safer to keep everyone in the dark.

As far as the gold. The gold is an unknown. We haven't seen the remainder of the gold mines sold. Filings would detail the sale of 100% of the mines to NMGL. NMGL would then need to sell 100% of the mines to, hopefully, a cash buyer. NMGL has no filings detailing possession of 100% of the mines.

If you are a MM and you can NSS for free and steal long investors money coming in and give them electronic markers in return and never worry about getting caught. An immoral MM might consider it. Hint: Shorting a stock in large, large volume naked or otherwise does lower the PPS. All the new buyers get absorded at a lower and lower price as the MM covers part of his shorts and makes money on the way down. The MM can keep the ask lower and lower on each sale. For a time, buyers think they are getting a good deal. The MM is getting a good deal because he can either cover at a lower price or just NSS as an electronic marker.

The only way that FFGO could not have known that the sale of part of the gold mines to NMGL was going to be a cashless event with no dividend was IF FFGO found out on the day of the sale that it was going to be a cashless event with no dividend immediately (or years or ever) following the sale.

Did FFGO find out on the day of the sale???

I don't think so.

Promise broken.

NSS is real. That is the silver lining. Whether FFGO and NMGL pans out to be "on the level" or not, the NSS is real. That alone has some value. If it ever got settled, we could move to cloud city LOL.

Imagine if you were told by FFGO in a press release that you would receive an immediate cash dividend. You were also told the cash dividend may take years or longer or never AND we will pretend for months and months on end to act as if there will be a cash dividend even as we know it will be a cashless sale of part of two gold mines.

You were further told that the immediate cash dividend would actually be cashless sale to another company.

You were then told that the company would be the only recipient of the proceeds of the gold mine sale. FFGO alone would hold ALL the NMGL A&B's.

You were then told that there would be no more filings. Typing out a couple pages and keeping shareholders informed takes too much time away from the golf course.

You were then told that lazy negligent lack of filings would cause a revocation in the company.

You were then told that a 12/10 filing would be your last communication of any kind from the company. You will sit idle and wait and wonder in silence....

If you were new to FFGO and were considering investing. Would this Press Release cause you to invest??????

Broken Promises.....

I think so......

Due to FFGO and PHEI willful negligence, the associated stocks were revoked thus forcing a purposeful derailment of promises made to stock holders. Intent is proven by non reporting as required

Every company on every exchange (even the OTC) is supposed to REPORT every quarter. There really is no excuse for not filing quarterly reports. If a company wants to enjoy the additional capital from having a publicly traded company, they need to file. If they suddenly don't want to file, they should return all the capital and assets that shareholders invested in the company.

Just because a company says it is going to go "dark" and not file is no excuse. Just because it "may take up to a year" is no excuse. There is no excuse for FFGO and NMGL to not be filing quarterly reports.

Those are PROMISES a company makes to become a publicly traded company. I have listed other promises that have been broken in the past.

Still, we have posters who insist that no promises have been broken.

FFGO and NMGL need to report. End of Story.

3 million penalty in a filing? rings a bell in regards to NMGL's penalty for not finalizing the sale by a certain date?? Recollect some large payment. I believe it has already passed. Too lazy to look it up right now LOL. Yes, weren't there some penalties beside annual interest payments and lump sums if the mines weren't sold in a certain time frame?? Could the mines be taken from NMGL??

We need some "unsealed records" to be shown in FFGO also. OSTK has been on my watch list for a while. I plan on jumping in as the lawsuit picks up steam or an upward movement in the pps. These are the types of actions we need in regards to FFGO. The shorts need to clean it up. Thanks, for the post.

Was SJCH reactivated by good guys or bad guys and to what end? Stay tuned.

That is the question......

Be nice. I know who you are talking about. He does come up with some good thoughts.

NEW YORK, NY -- (MARKET WIRE) -- 01/05/10

Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirmed its Statement on December 9, 2009 and updated on December 16, 2009 and on December 21, 2009 that it had received a confirmed Offer to acquire the Company's entire interest in both the "Bouse" and the "South Copperstone" Gold Properties. The Company's Management recommended acceptance of this Offer to both the significant minority interest holders in the "Bouse" and "South Copperstone" Gold Properties and to your Company's Loan Note Holders.

After almost 1.5 years after FFGO sold part of the mines to NMGL (9/10), we should have seen a filing about NMGL buying off the "significant minority interest holders." We still have more than 50% of the gold mines for sale. NMGL needs to buy the other 50% of the gold mines. Maybe, these interest holders are wanting cash, not NMGL A&B's or something. FFGO shareholders were not given NMGL A&B's because of the "whole pie" argument where they don't want to break up the mine into "pieces." NMGL wants to acquire the "whole pie" or 100% of the mines.

Either NMGL is quietly proceeding with an aquisition of the mines and not filing with the SEC --OR-- NMGL is waiting to get everyone together at one time and file one filing that covers all the significant minority interest holders and sell 100% of the mines to a "hopefully" cash buyer (instead of another "paper pusher") --OR-- nothing is being done since the 12/10 filing.

At the end of the day...I have one thing to say....
I have no idea if we are moving forward

Really??? Best case scenario is that FFGO lied for several consecutive months (knowing that a cash dividend was not coming immediately after the sale of the gold mines) and then kept the NMGL A&B's for good reasons ("whole pie excuse" etc...). The first "promise" was broken. It is possible that FFGO was "saved" from bankruptcy and the dividend was "saved" by not declaring bankruptcy. It is possible that FFGO was sort of helpless to the demands of NMGL. It is possible that everything is legitimate and everything will turn out fine and the "second" promise (the promise with the "a-h list") will come true.

Worst case scenario is that this is a simple pump and dump and that they don't want to say it's over because people like myself would start pressing legal redress with vigor.

So, for myself, I want to have a little assurance that this FFGO thing will work out before jumping into SJCH even if it could trade.

It merely said it might pay one if certain conditions were met. They never were.

When FFGO sold their portion of the gold mines to NMGL, The conditions promised in press releases where met at that time. The list of conditions that came after are irrelevant, I believe.

FFGO is further complicit by accepting compensation in the form of NMGL A&B's without compensating shareholders as promised. Again, the list is irrevelant as it came after breaking the press releases.

Maybe, laws were broken, maybe, laws were not broken. Doesn't make it right.

Copperstone mine: Bonanza's near term objective is to achieve the design gold production rate of approximately 3,000 ounces of gold per month,

That is $61,200,000 annual gross sales at $1700 an ounce.

Does not add up:

Par value is a nominal dollar amount given to corporate shares. It doesn’t necessarily reflect their real value, and is typically set at a low value (i.e. one dollar or one cent). The par value of a share is the minimum price at which it may be sold to shareholders, and the par value must be the same for all shares of the same class. The shares can be sold to the initial shareholders, at par value or more, but the price must be the same for each share. Not all states require a par value.--querycat

While the filings show a very small number as par value (.0001), we have a high share price and consequently high market cap. Yes, with $4 a share and 20 billion shares we get a $80B peak around 2004-2005.

$80 billion is an amazing number. That is a lot of perceived value for an exploration stage company. You would need to produce 47,058,823 ounces of gold at $1700 an ounce to pay for the $80 billion. That number rises to ??? when add the extra cost of extracting the gold. Let's use a factor of 5??? So, we need 235,294,115 ounces. Sounds overinflated to me. I haven't heard of any mines producing these numbers. I don't claim to be an expert, though.

Though, that is irrelevant in terms of how much NSS occurred. What is relevant is the question of if 80 billion shares could have been naked shorted around 2004-2005-2006. 80 billion shares even from 2004-2011 seems overinflated. I think we only had around 2 billion short the last couple years. 7 years at 2 billion would be 14 billion. If we have more hidden shares that were NSS then maybe we could climb to 20 or 30 billion??

OK, so is $1 a share or $20 billion a fair number?? So, that would be 58,823,528 ounces. Also, remember that FFGO only owned a portion of the mines. So, $1 does not seem like a fair price to pay for the mines. I don't know how it got up to $4 a share.

Why did FFGO only sell their portion of the mines for a scant $258 million if we should be getting $80 billion or a buck a share in terms of 2004-5 market cap?????????

Sorry, none of this adds up for me. I could go for .0034 for the value of the mines. I could say that market makers and others stole, perhaps, 2 or 3 billion from shareholders. Given the low volume of FFGO, I think that is fair. So, adding .0034 and NSS value of (3/80 in billions of shares) we would get .03 a share. So, I would give it .03-.05 a share if we got a combined settlement.

Still, a life changing number at a nickel. A realistic number in my opinion. A nickel is still a mind numbing number when you add it up.

There is common agreement that FFGO was categorically manipulated in 2005. The share price conservatively was $4 according to charts. The price was even slightly higher when this SEC filing http://www.sec.gov/Archives/edgar/data/802206/000101376205001088/june30200510qsb.txt or this 2003 filing http://www.sec.gov/Archives/edgar/data/802206/000107261303001767/form10q_12284.txt Here is where FFGO ancestor started trading altogether http://www.sec.gov/Archives/edgar/data/802206/0000802206-97-000011.txt

So, looking back at a FFGO chart "MAX" it goes back to 1997. There are SEC filings going back to 1997. I know FFGO changed names and companies.

Here is the confusion for me. We appear to have 20 billion authorized shares in clear back in 2003. We also have a share price of over $4 a share. I must be missing some splits or other events. We don't have a 80 billion market cap. So, my quest for a market cap is more confused than when I began.

One thing that seems to be clear is that the value of common stocks back in 2003-2005 appear to be $2 million or less. So, the market cap appears to be around that range. So, 80 billion shares cannot be $1 or $4. I know the NSS might be large. 80 billion would be enormous. We need to get some number crunching behind it. Throwing out $1 or $4 is fun, but, we need some realistic numbers that are not just related to the price. We need market cap, percentage short and so on.

FFGO will fly very high with gold at its back and NSS on its wings.

Sorry, just like that line. Thought it should be repeated.

That reinforces my suspicions of a coordinated attack. Trying to suppress gold prices is absolute madness and borders on criminal to me. If we went to the Gold Standard today, Gold would climb to over $65,000 an ounce based on the dollars in circulation. Balance paper gold with physical gold will probably give you some pretty staggering numbers also. Don't know that exact number.

Shorty, is used to playing chicken with danger. He will get his reward. I don't believe one should even legally short gold or silver. Their fundamental value is off the charts.

FFGO will fly very high with gold at its back and NSS on its wings.

Wild Coincidence? Gold and Silver are shut down by Ben Bernanke's comment alluding to no more QE's anytime real soon on the NEXT day that silver (gold to a lesser degree) breaks out a key technical point and rallies around 10% !!

Helping Short holders in the metals market. The timing seems very suspect to me.

True. Thanks, though, for the repost

You really do your research

Thanks, that is the best summary of company spinoff (with gold mines to boot) I have ever seen.

I have not got a definitive yes or no. With Copperstone shipping out gold and reinstatement of St. James there is no need to press the issue in the near future.

Thanks, I bookmarked that link. Solid numbers from our neighbor.

Again IMPOSSIBLE Do you enjoy posting things that would require absolute omniscience to know? You cannot know if there will ever be a NSS settlement and you cannot know if there will ever be a dividend. I am so glad that you can see EVERY trade that happened in FFGO.

IMPOSSIBLE. It is simply impossible to say that there

No divvy is ever coming

No NSS settlement is ever coming ---puppydotcom

It is impossible to know if and when the government or private third parties might settle the NSS. It is impossible to say that EVERY trade that ever traded in FFGO was NOT NSS. Unless you have access to EVERY trade that FFGO ever traded, it is a false, unsubstantiated claim.

There is no official evidence that the dividend is over. There can be speculation for and against, but, nothing official. Again, impossible to say.

You may use the words "might not" or "may not." To say "NO" FOREVER or "ever coming" takes an OMNISCIENT mind. You are not omniscient and should not make statements that assume total absolute knowledge over an infinite timeframe.

Revocation changes nothing. The filing and deal that bound FFGO and NMGL together is still on. I would argue that there should have never been a "deal" because FFGO was supposed to have 100% consent from all minority mine owners according to press releases. I can put that on hold for a while and see if this whole SJCH plays out and we get a buyer. The deal is still on, puppy.

NMGL still is looking for a buyer for S. Copperstone and Bouse. Production that far exceeds expectations for Copperstone bodes very well for S. Copperstone.

How much cash and holdings is SJCH believed to have? Could they pull off a purchase or sale?

If Copperstone is exceeding expectations, then S. Copperstone (FFGO) might also exceed expectations? Which might provide an impetus to spurn a buyer to buy the remainder of the mines and kickstart this dividend.

I hope SJCH will have a positive impact on the sale or purchase of S. Copperstone and Bouse.

Fast-Forwarding to 2012, does either company own stock in the other company? Or was it sold long ago?

Distort efforts fruitless as I have not read of a single long shareholder writing off his shares.