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Oldben,Not if they register A&B's, obtain a cusip and symbol, and it is allowed to free trade as projected. The pps will then be established to the direct result of the valuation on NMGL's assets and market value.
My only question now is, what would be required to trade, an IPO of the A&B's, or a merger into some clean reporting shell?(now that NMGL is a PK).
IMO, at this point NMGL common will now need an MM to submit a 15c 211 to get them back on the OTCBB, that would be only after bringing their filings up to date, (now will need to be audited).
I am really surprised that the lack of filing and move to ther PK wasn't a sale deal breaker, I can't imagine that this was part of the plan when B/C shares were sold to NMGL.
Now seems that the A&B's must stand alone if they are to be trading on the OTCBB. It will be interesting to see how this plays out now that NMGL has chosen to become a pinky.
matty, I'm not concerned about Western not "ponying up" I am concerned about the fact that NMGL has paid in FULL and has no fiduciary responsibility to FFGO shareholders (yes ALL FFGO shareholders).
What is to force NMGL to complete what FFGO has said must be accomplished prior to us receiving our A&B's?
Is there a time frame set by the contract negotiations when NMGL must perform by obtaining their 100% B/C and all other conditions met?
Matty, Nice post however it kind of skirted my question, yes I am aware of the accusations of the large shareholders, but my concern is what assurance do any of us have (including the large shareholders) that NMGL still has an allegiance/commitment to FFGO to follow up after "paying in full" for the B/C shares.
That continues to bother me, if NMGL hadn't issued those shares to Western I would feel a lot better about it, as by doing so, FFGO seems to have now lost any clout in forcing the desired outcome, the 100% accusation of the remanding B/C shares in my mind, is a giant loop hole.
Thanks for your response, I guess we can only hope for the best..
Iv' e often wondered just what leverage that FFGO is holding, to insure that NMGL continues to perform on the conditions that were evidently part of our getting our A&B'S.
The way I see it is NMGL has paid in full the amount required to close out the deal with FFGO, by the action of issuing those A&B's to Western. Diversified.
Now that they paid in full what more can be required, does NMGL have any fiduciary responsibility to the shareholders of FFGO, I think not!
So what assurance do we have that NMGL will complete the accusation of the 100% of B&C, and how would they do that if some of those shareholders are not planning to sell.
Seems to me there is a lot of loop holes, that would be interesting to know how they plan to accomplish the desired outcome promised to FFGO shareholders. Just wondering!
Well neil, If you know that the PPS is .00001 why do you expect to get .0001.
You seem to be complaining that there is no shares yet they wont buy your shares at .0001, when in fact you are asking 100% more than the price.
So bottom line, it isn't the lack of shares being the reason you can't sell, in fact that is the problem, there are more than enough shares, and/ or phantom shares available, we are being cellar boxed.
Hard to understand why most here can't see that.
If there were no shares the MM's would establish a bid, it is obvious they are making enough on the cellar boxing and don't need our shares to make money.
neil, Did you ever stop to think that just maybe you are asking toooo much for your shares @.0001, we have no "BID" so you gota know, that the PPS is well below .0001, if MM's wanted shares they would establish a bid.
So answer is, if you really want to sell, put a market order in and it will get filled at the current MM established pps.
ib12u, Being de listed does not necessary mean that shares will not be viable.
Fact is, we are already de-listed, I presume you mean revoked, well unless the company goes BK the shares will still be a commodity. I would suggest that other steps can be taken by shareholders at that time, if we indeed do get revoked, and the company does not file BK. There will still be many options open to shareholders.
AlanC, Yes, understood loud and clear, and my recent communication with others here I believe also understands loud and clear what you are saying.
One does not need to be an insider to understand the "Master" plan. All will be disclosed shortly. imo
iron, If some are sitting in the wrong place at the wrong time some may not have a choice.
Message in reply to:
"And who, pray tell, is going to be willing to buy FFGO for more than it's trading out now with the history of the company, and those involved in the "running" of it?"
neil,Don't be surprised if some of those not totally informed are shorting Gold, when in fact there is little to go around to complete what is happening world wide. Makes you wonder!
paunch, The MM's have been known to create what shares they need, somewhat like the Federal Reserve prints their promissory notes and call it money.
AlanC Yes I think that we will receive some positive indicators as the day progresses.
Lambshift,I have often wondered about how a shareholder can trigger an audit in any company they held, as FFGO being nothing more than a percent shareholder in B and C. Which said shares were sold to NMGL,the 23 and 46 percent shares held by FFGO certainly is not a controlling factor, that has the power to force an audit.
Never could figure that one out
paunch I am running out of post for the day, But what are you talking about??????
FFGO "SOLD" shares held in Bouse and Copperstone to NMGL and was paid in FULL by those A&B preferred shares.
NMGL has paid in full to FFGO, now waiting for the remainder of the contract agreement to be finalized, then we will get the long awaited record/ex dates as we were apprised of months ago by the company 8K's and emails..All conditions of the contract must be met in order to apply for those dates.
The company has nothing more to talk to us about, we wait period.
Dich, I believe I covered that in this paragraph
"Those A&B shares are being held in abeyance until all other contractual conditions are met, then they will be issued to shareholders including any and all interest accumulated."
"ALL" OTHER CONTRACTUAL CONDITIONS are met""
paunch, We have our shares from NMGL they are being held for us by Western Diversified a subsidiary of FFGO.
NMGL has paid in full all that they are contractually required to, and if the contract states that those A&B shares will earn 3% annually then NMGL will pay that amount to whoever is holding those shares.
Those A&B shares are being held in abeyance until all other contractual conditions are met, then they will be issued to shareholders including any and all interest accumulated.
If in fact that 3% is cash and not additional a percentage of A&B shares, then the shorts will be forced to cover any short that occurred, by the fact that FFGO is heavily shorted, and we will only again receive IOU's to our accounts,however any cash will force a cash payout by the shorters.
One major item that must be understood, any short in FFGO will trigger a short in any dividend that FFGO issues unless it;s CASH!
Seven, I have to wonder what the mechanics of that is for distribution, If indeed we are accumulating 3% who is getting it?
By rights NMGL should be paying that to Western diversified when due, now wonder if that is cash or additional A&B preferred shares.
If it is cash, then Western should be forwarding to shareholders,as additional dividend, that in turn would trigger a covering by all these shorter's.
Funny how all those months of correspondence starting with Gertrude, then all the emails and 8k's etc we still know little of what is really happening or why.
What is the status of the conditions of the sale, and if NMGL is not obtaining their 100% shares of B/C did FFGO establish a time frame for that to be completed or did they give them an open ended contract? (which makes no sense)
They very nicely just put us on the back burner for any line of information, NMGL will not talk to us as they have no fiduciary responsibility too, and FFGO has gone dormant pretty slick way to stop commutation. Oh Well back to lurking.
Tom Forget my question I didn't know there was a conflict going on. sorry
Hi Tom. Just wondering are you on a Placer or Hard rock claim?
The reason I ask is because many here call all mineral claims "mining claims" even some that just process tailings so just curious of your type of operation.
thanks
Something I came across today!
The Priceless Commodity That's More Important To China Than Oil
-- By Andy Obermueller
China is now the second-largest consumer of oil, using roughly 8 million barrels per day. Adding to the thirst for oil, the country has already overtaken the United States as the world's largest car market by annual sales. China actually now uses more total energy than the United States. Despite all that, there is still a single commodity that is more important to the growing nation than crude oil... (Full Story Below)
The Priceless Commodity That's More Important To China Than Oil
China denied it for years. And it wasn't until April of last year that the communist nation finally came clean.
Finally, in the spring of 2010 -- only after satellite images had been released of construction taking place -- China officially told its Indian neighbor that it was building a major dam on the Yarlung Tsangpo River.
Chinese officials were quick to say they wouldn't be diverting any water. Supposedly, the dam is only purposed to create electricity. I think that's a farce.
Make no doubt about it. The most critical commodity for China's economy isn't oil, steel, or even wheat. It's water.
Few Americans realize what a luxury it is to turn on the faucet for a glass of clean water. More than one billion people each day don't get enough water to drink or bathe in. Less than 3% of the world's water is fresh, and there's no more of it now than there was a million years ago. But over 6 billion thirsty people must now share it.
Former United Nations Secretary-General Boutros Boutros-Ghali predicted the wars of the 21st century will be fought over water. I'm glad that so far, it hasn't happened, but that may be changing.
The Tsangpo Dam that China recently admitted to building is one of five such projects Beijing is working on, ostensibly to meet its electricity needs. But any one of these hydroelectric power projects will affect lives -- and create tension -- for millions of people downstream.
China has roughly 20% of the world's population, a huge chunk of its industry, and only 7% of its fresh water supply. It needs as much water as it can get. It's predicted that China will see a water shortage of up to 201 billion cubic meters in the next 20 years. China's shortfall works out to 53.1 trillion gallons -- or roughly five times the water the entire American population uses in a year.
Not only is there simply not enough water, but the potable water the country does have is unevenly distributed in a vicious drought-monsoon cycle. Existing shortages already cost China 2.3% of its gross domestic product each year.
China can remake its power system with new transmission lines and wind farms and solar panels. It can and has built highly efficient factories. The country can free itself from the shackles of communism, release political prisoners and embrace democracy. But without serious, proactive, nationwide efforts to conserve water, the country and its economic engine will, quite simply, stop growing.
We all know that no nation will sit idly by and fall victim to such an obvious and dangerous trend. That means if there are companies engaged in alleviating China's water shortage, they're sitting on a goldmine. Also bear in mind, the strategic water issues in China will also play out in India, so companies that cut their teeth resolving China's long-term challenges will have a foot in the door working with India as well.
And that says nothing of the developed world and its need for water. My favorite game-changing stocks in this sector are primed to grow from the global scarcity of water, not just the Chinese challenges.
Companies like Tri-Tech (Nasdaq: TRIT) offer bright potential. TRIT is based in Beijing, and helps manage water supplies. The company has a hand in everything from sewage treatment to tracking reservoir levels. It is still a tiny company ($90 million market cap), leaving plenty of room for growth.
If you want to profit from China's need for water, starting your research with a Chinese-based water company is a no-brainer.
[Note: Tri-Tech is a good place to start your research, but I haven't yet checked the company stem to stern. For my Game-Changing Stocks readers, I did cover one of my favorite plays that's been tackling the Chinese water shortages since 1994. It's little wonder why from 2002 through 2009 the stock returned 826%. You can see all the details in my latest report: The Hottest Investment Opportunities for 2011.]
Always searching for the next big thing,
Andy Obermueller
Chief Investment Strategist -- Game-Changing Stocks
paunch, They never owned the mines to sell, they held shares in Bouse and Copperstone just as we own shares in FFGO, they traded their shares for NMGL A&B's, nothing more nothing less.
NMGL has paid FFGO in full by issuing those A&B's to FFGO subsidiary Western Diversified, now we wait for other conditions of the sale to be consummated. Then FFGO will issue those A&B's to us.
AlanC With the masters plan now coming to fruition, I will defiantly test the waters on availability of shares here.
Seven Yes it is, (called margin call) The DTCC will cover if and when the pps exceeds the threshold set by brokers on margin, the DTCC will in turn charge the brokers for retribution, the brokers will in turn send out calls to their clients or sell their collateral stock
Good Morning Vianna,and Happy New Year!
I suspect that markers will be put in our accounts,I believe the A&B's will need to go thru the process of registering and obtaining a cusip number, as well as obtaining a MM to submit a 15c-211, which is a MM's request to the SEC to allow trading of a security that the MM has researched and found viable.
The submitting mm will then set the trading value and have exclusive rights for the first 6 months, there is a section in the pinksheets an this subject if anyone want's more info.
Along with the piggyback requirements for additional MM's
Seven, True it is not the SEC doing the shorting however they have been turning a blind eye to it for years.
At one time they (SEC Attorney) stated in a court room, that there was no such thing as NSS, now the admit it is rampant.
The SEC is the office of prime responsibility to keep our market free of illegal operations, they do a great job coming down on companies, however they (SEC) totally neglected the other side of the coin, i.e. brokers, mm's and most of all the off shore hedge funds.
diamondguru, I like that but who is going to pay the cash? Since NMGL has already paid FFGO the full purchase price by isuing those A&B's to FFGO
Texan No I have no thoughts, other than maybe someday they plan on paying those divies.
Somewhat like I haven't got a clue why NMGL paid off FFGO in full by isuing the A&B to Western, now we sit waiting for NMGL to obtain 100% of B/C shares.
What then, if that does happen and mines are sold will NMGL repurchase those A&B's back from FFGO so they can get our cash to us, or will FFGO just issue dividends so we get our markers and NMGL registers those shares for trading?
I haven't got a clue as to why FFGO is holding our A&B seems that move just got NMGL off the hook could be wrong, just don't understand that move.
How about you, any thoughts?
Thanks and Merry Christmas
Vianna, Thank you for the warm Christmas greeting, and Merry Christmas to you and your loved ones.
Old_Ben As far as NMGL is concerned the deal is done, they have paid in full the A&B preferred shares to FFGO, now we are waiting for "ALL" the other NMGL set conditions to be met that NMGL negotiated / contracted, for the release of those shares from FFGO to FFGO shareholders.
BTW Has anyone seen where NMGL has obtained any of the remaining shares of B/C to acquire their desired 100% that is a condition of us getting our markers.
block, No that is not what I am saying, If a dividend is issued everyone that has FFGO shares prior to the record date will receive the dividend in their accounts.
The brokers will be praying that everyone does not sell all at once because many will have IOU's in accounts that broker will have to purchase shares in order to fill all sale orders.
His fiduciary obligation to us, is to redeem the IOU's at market value upon demand.
At this point I'm not even sure that FFGO will issue us any shares.
The action of of NMGL of issuing shares to FFGO, has thrown me a curve ball I just do not understand the mechanics or purpose of that action.
souzagotcha, No I am not saying the shorts get off free.
What I am saying NMGL has already issued the A's a& B's to a subsidiary of FFGO Western D. and as long as FFGO is holding those A's and B's there will be no shorts in them.
However if as we suspect there is a large short in FFGO, when those A's&B's are put in our accounts by means of a dividend any shorts in FFGO will make the dividend issue short of the amount required certs needed to cover all outstanding shares held.
In other words if there are 75 billion O/S and there is 1 trillion shorted that means there will only be 75 billion shares that will be covered by the dividend issue.
The rest will be hanging out to dry, so what I am saying, the instant that the TA issues the dividend to the brokers, the brokers will not have enough certs to fill all the true number of O/S plus the trillion shorts therefor he will put electronic markers in all our accounts, whether or not he has dividend certs to cover all sold shares.
That in turn will transfer the short position of FFGO to the dividend A's & B's so bottom line, both stocks will in effect be shorted.
The only ways (2) around that is...(1) for NMGL to buy the A&B's back from FFGO and FFGO in turn pay us the cash, I don't really see why it makes any sense to have NMGL issue to Western then and NMGL when ready turn around and issue us any funds directly from them.
I never could understand that move of issuing A&B to FFGO while NMGL is looking for a buyer for the newly purchased 23% and if applicable the rest 77% to fill their needs of 100%
By issuing those shares to FFGO is paying in full for the purchase, question is if they already paid FFGO why are they going to pay us again with cash for shares that we do not hold, and if FFGO does issue to us, then the humongous short of the A&Bs will occur because of the short in FFGO common shares.
The only thing that makes sense to "me", that they issued those A&B to FFGO because they intend to register them for trading, and do not intend to lay out the cash but let the market evaluate the value, which imo is not a bad thing for us.
The above are just thoughts and not meant to be all factual or confirmed by anyone, just my many years of dealing with receiving shorted dividends from others and watching the brokers operate.
Merry Christmas to all.
Texan, Not really, sure it will raise the bar if more is purchased at .0001, but will not have the same effect in the ROI, it will remain at ,0034.per share
I think that statement of registering the A&B's for trading was to let us know what could potentially happen, this company track record is not one that deals in cash or has ever passed on any cash imo.
Texan, Yes And I think the final decision will be whether or not they were able to sell the B/C for cash or they trade for shares.
If it is cash we will recieve our promised .0034, if not, then I believe they will register our A&B's for trading, my opinion only, but I think we will get a higher return if we trade, as the cash amount is set in stone for .0034 while gold keeps increasing.
Mike I suppose there is a dark side to every equation if you look for it.
However with the common shares holding @ around $4.00 I do not believe the preferred will go to anywhere near .0001 in addition the price of gold is not going to see $1050 again IMO.
The preferred are a % above the common and I believe that everyone could sell and the PPS would not decrease as there is a buyer for every share sold.
As I said my only concern is the FACT that if FFGO is shorted then any dividend that is issued by FFGO will also be shorted automatically.
Just my opinion but if you thought that you made a mistake by buying FFGO, you may be making a bigger mistake by selling at a loss now, might be wise to hold on to see what transpires, I don't think you would be feeling too good if this pans out as the company stated and you sold out. Just my opinion.
Mike did you read this, posted by Rocket this morning from the 8K, this tells me that they are letting the market determin the value of the A&B's.
If they are tradeable the pps will adjust at the opening, I think that NMGL will be ready to back up their established value to us at that time.
Remember that gold was priced at $1050.00 per oz at the time of the transaction, the increased value has not been factored in as yet, if we were to get cash it would be that transaction value, if we trade it could be tied to the current much increased gold value.
Rocket posted from 8K.
The NMGL Preferred Series “A” and Series “B” Preferred shares will be tradable at such time as a Registration Statement is filed by NMGL with the SEC in respect of these instruments and such Registration Statement has become effective. "
Rocket, received your PM and messages thanks.
Seems there is so much going on here, at times it's hard to keep it all in line lol.
Anyway the problem (my point) I see with the A's and B's being tied now to FFGO, is if there is a large short in FFGO as we suspect, by tying (issuing) those A&B's to FFGO will now allow brokers to short those
shares, to cover any shorts that now are in FFGO.
The dividend to those that have FFGO IOUs' and certs held in street name.(most of us), will have electronic markers placed in accounts for the A&B's.
It also seems that NMGL is going to register A&Bs for trading in lieu of paying us cash from their treasury.
Which is the only way to go IMO, as I believe that any purchase of the remanding B/C shares to reach their stated goal of 100% will not be done with cash, their "MO" is to trade shares, not cash.
That could be good for us, to let the market determine the value of the A&B's then the increasing value of gold, would have a impact on the pps.
However those looking for short covering I think will be disappointed at this time, as shares will be traded not cashed out. Just some thoughts FWIW.
Rocket,Western is listed as recipient of the A's and B's issuer is NMGL (From the I box)
12. Sales Compensation
Recipient Recipient CRD Number X None
Western Diversified Mining Resources, Inc. None
(Associated) Broker or Dealer X None
(Associated) Broker or Dealer CRD Number X None
c/o Fortress Financial Group, Inc. None
Street Address 1 Street Address 2
2780 So. Jones Blvd. #3532
City State/Province/Country ZIP/Postal Code
Las Vegas NEVADA 89146
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States All States
Foreign/non-US
WYOMING
Preferred As
http://www.sec.gov/Archives/edgar/data/1393283/000116552710000976/xslFormDX01/primary_doc.xml
12,096,115 shares of the Series A Preferred Stock at a price of US$16.00. These shares were issued in payment of the purchase price for a 23.22% shareholding in Bouse Gold Inc.; this issue being to 1 (One) Accredited Investor.
Preferred Bs
http://www.sec.gov/Archives/edgar/data/1393283/000116552710000977/xslFormDX01/primary_doc.xml
29,334,212 shares of the Series B Preferred Stock at a price of US$2.20. These shares were issued in payment of the purchase price for a 46.84% shareholding in South Copperstone Inc.; this issue being to 1 (One) Accredited Investor.
Rocket, why would FFGO transfer FFGO shares to NMGL?
Seems to me that there was a PR stating that NMGL had issued A's and B's in payment for the 23% that FFGO owned of the Boues/Copperstone shares, and that NMGL had issued the negotiated payment to Western Diversified?
Unless I have this all wrong????????????
souzagotcha' I'm not so sure that the shorts will be flushed out very easily.
We are going to receive as per the PR, A and B' preferred shares of NMGL those shares have already been issued by NMGL to an FFGO subsidiary, so the shares will not come from NMGL,but from FFGO.
That would mean that any NSS or any other shorts in FFGO will be covered by the brokers just putting electronic markers in our accounts, to cover any shorted shares of FFGO they have in street name and carried as IOU's in our accounts,
Even if we are given the option to cash out those A's and B's which I sincerely doubt, I really think they will be registered for trading in lieu of cash.With trading, the brokers will not need to cover their shorts, but still continue as they have on any other trading stock.(business as usual).
The problem I have with all this is the fact that NMGL issued our A&B's to FFGO, that to me sealed any deal for a buy back by NMGL from shareholders, if and when NMGL obtained 100% of B/C.
Question would be if NMGL is to buy back those A&B's from shareholders, then why is FFGO holding them? Why wouldn't MNGL just repurchase those shares from FFGO? Thereby not allowing the brokers to play their shorting game on NMGL preferred shares.
The only other way would be to issue each and every shareholder certs directly and by pass the brokers, I just don't know if that could be accomplished with our shares being in street name,as the brokers name are the only real registered shareholders.
Well I see the dark side has arrived this morning, I was wondering how long it would take them.lol
least we not forget that the company has capped the O/S and A/S and stated that there would be a buy back from revenues, don't be lead by the new bunch of nay sayer's imo.