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How many outstanding shares were there back then?
Better do some more homework.
Website says it will be posted today. It may be after hours though.
I just know what the outstanding shares are. You can guess who owns them.
What about my $13.00 after ten?
Don't get too excited, they are only getting back to horribly low prices. A lot more has to happen.
The price maybe going up because they have sold all of the additional 1/2 billion they just issued. Let's hope.
There was approximately 85,000,000 of the 3.5 billion left.
I hope they stop there.
You're close
I got a lunch...
memorandum
Date: May 13, 2008
From: The Office of the President
To: Franklin Mining, Inc. Shareholders
--------------------------------------------------------------------------------
There�s BAD news and there�s GOOD news �
Dear Franklin Shareholder:
April 2008 was a bad month � our company took a Big HIT in the market with the share price
hitting a new 52 week low on the 28th followed by another new 52 week low earlier today.
Last September, when I took over as Franklin�s CEO, my first order of business was to begin
a thorough, company-wide review. Within a week, I learned of several financial issues needing
to be resolved, including seriously past-due items in the Accounts Payable. Almost immediately
I instructed the Board, managers and supervisors that nothing � other than Escala � was to be
undertaken until our Accounts Payable were brought current. At the end of April, these
obligations were about 90% resolved with just a few remaining taxes in Bolivia.
Today�s monthly cost to operate the Escala and all four offices and to remain current on other
obligations is as follows:
San Antonio, TX, $12,000, 3 employees
Santa Cruz, Bolivia, $15,000, 8 employees
La Paz, Bolivia, $7,000, 5 employees
The Escala Mine, $15,000, 14 employees
Buenos Aires, Argentina, $10,000, no salaried employees
Note: The Escala has begun to become self-sufficient the past 6 weeks and should be a
100% cash flow positive operation by the end of this quarter; our only remaining obligation
will then be �capital expenses�
The above schedule of estimated monthly costs does not include executive salaries (some
of which are not paid monthly), travel and entertainment expenses or legal fees (contract
negotiations, leases, etc).
During the past 45 days, the travel and entertainment expenses and legal fees associated
with our energy projects in Bolivia and Argentina has been our greatest financial need �
meeting those needs allowed me and other Franklin executives and consultants to attend
significant meetings in New York City, Santa Cruz and Buenos Aires and I am able to
confirm that we�ve nearly completed all negotiations on multiple projects.
Before we finalize all of our mining and energy projects, I believe we will need additional
funding of:
Complete Tierra de Fuego�s GTL feasibility study, $175,000.
Complete the expansion of processing plant #1 and
relocate it to the Escala Mine, $100,000.
Complete the construction of processing plant #2, $50,000.
Obtain a smelting plant and relocate it to the Escala, �$150,000.
Eventually bring the Escala Mine to a fully operational status, �$650,000.
� and that�s what we face to bring our company to the next level of growth.
Now that I�ve told you the BAD, here�s the GOOD!
� Since October 2007, our Accounts Payable problems have been about 90%
resolved.
� Even though we�re still a non-fully-reporting Pink Sheet company, we�ve come
a very long way.
� We now have an estimated 7,000 shareholders, plus or minus (including me!
And I would not be doing what I am unless I believed in our future) � many of our
shareholders have their shares in 401K�s and IRA�s.
� Our 2007 Audit was recently posted on the web-site � its not the best
picture you�ve ever seen but we have managed to remain alive for more than three
years, we�ve come along ways toward cleaning up several financial mistakes and
we have multiple great opportunities facing us.
� We continue to be the focus of local news � interviews frequently appear
on radio and tv newscast and business programs in South America.
� Some of these news items may be responsible for bringing us to the
attention of our growing number of international shareholders � Asia, Europe,
Eastern Europe including Russia, and the middle-east, specifically Kuwait.
� Our presence on the Frankfurt Exchange has also been a benefit in
attracting new shareholders.
In closing, let me touch briefly on a confidential matter: I want to tell you
all of the details, but can�t � I�m under a strict non-disclosure agreement
concerning recent negotiations in Argentina.
Many of you have asked for more information and I will provide it as soon as
possible. For now, please know that the results of these current negotiations
will include some major restructuring of the overall company and will be of
significant benefit to all shareholders. Most specifically, the pending changes
in our structure will benefit Franklin Mining, Inc.
Now, for a little more GOOD news �
As we�ve struggled through our start-up, Franklin has maintained a Social
Benefit program for Bolivian People in Need.
� In Tarija we established a digital medical library for use by students
who study through a U S hospital
� In Ayo Ayo, a city of 7,000 residents who had only a 1,000 gallon
water tank, we provided a 10,000 gallon tank
� In Santa Cruz, 1,000 homeless children received toys and food
at Christmas 2006
� In Santa Cruz, 200 women being held in jails and prisons with their
children received toys and food at Christmas 2007
� In the area near Beni, the site of major flooding just a few months
ago, three tons of food was delivered through the Govenor�s office in
cooperation with a program directed by the First Lady
� For the City of Ayo Ayo, a twin cities treaty with the City of Arica,
Chile � Franklin was especially fortunate to be able to participate in
formation of this first such relationship of its kind in Bolivia
Many of you have written and called to ask about Franklin�s in-country
relationships � in my opinion, Franklin Mining, Inc. is today in a stronger
position than before. Not only do we have well established relationships at
both the National and Department levels in Santa Cruz and La Paz, we
are well established and welcomed in the local communities and with the
labor cooperatives.
� As evidenced by the above list of events, Franklin is recognized
and accepted throughout Bolivia.
� As evidenced by our progress with the Escala Mine, our relation-
ship with COMIBOL and with Cooperativa Minera INTI Ltda is excellent.
� As evidenced by on-going relationships with both COMIBOL and
YPFB and their full participation and cooperation as we continue to negotiate
the Cerro Rico mining agreement and develop long term opportunities for
multiple energy projects.
With the assistance of growing relationships in Bolivia and in other countries,
we are coming into a position of being able to offer more services than before.
I assure you that all of my actions and all of my recommendations to your
Board of Directors is designed to build the company, to bring each of our
mining projects to a positive cash-flow position as soon as possible � the
energy projects are a longer term investment.
Once we have a positive cash-flow, the company will enter a new stage
of growth � and that is my focus.
Once again, thank you for your patience and your continued support of
our company � I will keep you informed as best as I can.
Sincerely,
William A. Petty, CEO
PS: In my next letter � I�ll �deal� with THE DEAL
I called the company and voiced my displeasure with the announcement, not knowing much more about what was going on than anyone.
Based upon what was relayed to me, I told them I thought it was a very poorly written P.R. that did not convey what they were really doing.
Anyhow, It is not bad news, just very poorply written news. Doesn't help when the stock price is going down...
A local tex/mex type food, which Steve referred to as San Antonio style food. The area being close to Mexico has a variety of influences. Nice local restaurant. Got a little local history of San Antonio as well, which was nice.
Thanks again Steve.
I think you will get some buyers by the end of this year.....
I like to see it go up, but 30% of nothing is nothing. We need multiple compounding moves to get this stock back where it should be based upon its potential.
Yes it is my opinion regarding the company's great potential...
Hey quiet down, I'm a G. & A. Expense for the second quarter of 08!!!!!!
If you believe the company is B.S., get out. If you believe, like I do, boy are you/we going to make some money.
I certainly am not the most financially sophisticated person on this website, but what I have done is talked with Andrew Austin, Jaime Melgarejo, Bill Petty and been to the company's corporate offices. Does it mean something, I don't know, but I have had personal contact with people in charge.
I may have just hit the bottom on this last purchase, or close to it.
This company will be making $5.0 million a month profit on Escala alone, IMO. Which is it's current value.
Waite till other things hit...
Just my opinion. I have a lot of $$$$ on the line though...
Currently, we are at a market value of about 5 million. With Escala coming to full scale very shortly and these gas projects, this is an extremely more valuable company than current share price indicates. Stock prices are forward looking. The past is only sometimes indicative of the future. I firmly believe that this is not the case with this company.
Invest at your own risk. It's your money. I already got my lunch on the company.
Just my oninion.
On another note, I put in another order for 5.5 (I guessw I am a glutten for punishment). Filled fairly quickly. I don't know if that is good or bad..
I hope I am right. What the hell is ten grand in a lifetime anyhow.
New memo on website:
Memorandum
Date: 24 April 2008
From: The Office of the President
To: Franklin Mining, Inc. Shareholders
I know it’s been almost two months since my last Memo to Shareholders and understand there have been a growing number of inquiries to the San Antonio office as to “my where about’s” and “what’s going on” (other than with Escala, which I hope you will agree, we’ve made serious progress on that project during recent weeks and have done a reasonably good job of keeping everyone informed).
First, I apologize for having allowed the past two months slip away without an update. That’s not what I said would happen. And I have no excuse or explanation other than I have spent the last two months working toward completing final negotiations on our first GTL project.
Second, I must ask your continued patience and understanding for another two-to-four weeks. I know many have a great deal of interest in our energy projects and there will be significant news to announce in a few weeks.
For today, the few details I can provide are that Franklin’s energy projects in both Bolivia and Argentina are alive and well.
· In the past few weeks, I’ve met with many government officials in both countries as well as representatives from several international financial institutions and continue to find a solid commitment to helping Franklin bring our projects to fruition.
· I’ve had meetings with representatives of a major international energy production company expressing an interest in participating with Franklin once we’ve completed contract negotiations with the government agencies.
I appreciate that – to some of you – much of this Memo might seem vague, even confusing. But I assure you, progress has been made and continues being made … I just cannot provide the details that many of you are asking for.
In the case of more than a few of the direct questions I have been asked, I have signed – on behalf of Franklin Mining, Inc. – non-disclosure agreements that, for now, prevent me from disclosing details.
Just as you allowed me the time needed to wrap-up Escala’s negotiations and bring that project on-line, I need time to wrap-up the energy negotiations in Bolivia and Argentina.
I intend to spend this weekend preparing another Memo for release early next week which will update you on the Escala Mine as well as other matters facing our company.
Once again, thank you for your patience and your continued support.
Sincerely,
Initially, I almost believed the phony accent and bad English, but now you are just getting laughable.
What comments have you heard from Bolivia? an inside source??
No, but I bought a couple of Christmas ornaments for the girls and got a couple of $.51 cent flattened pennies.
Went to the Alamo in the morning. Very small. Most of the original fortress is covered by modern buildings. It's a very nice city though.
Visited the offices in San Antonio yesterday. I was there on work, but made it a point to stop there on my trip. I met with Steve, who was very nice. Bill was not there and is in Bolivia from what I understand.
There is an office.
After we chatted, I was taken out to lunch, on Franklin. The joke was for the tens of thousands I invested, lunch was my R.O.I.
Once again things are happening from the news that came out, Steve was very nice and my belly has received a partial return on my minds investment.
I agree. A RS will be the final straw for me. I also agree there is no reason for this company to do it since it can't get any lower (exchange wise) than it already is.
Completely agree.
That's the way I sometimes feel about this investment. I am in the stuck market.
Call them and speak to Steve. He is very nice. Ask any question you want. Some they may answer, some they may not.
It wasn't a sale from treasury. Call the company.
Keep up the good fight.
I did call the company and voiced my frustration.
I doubt it meant much.
But who is the salesman at these prices, if that was the case?
Very, very frustrating.
How much do you want to bet it closes slightly up today on 5,000 shares.
Any takers...
I believe this is just the beginning of good things and news to come.
However, only cash flow will make this thing turn around.
Many people are right in saying all of the prior negative press has killed this thing, but only for now. In my opinion.
Yes. Same plant.
I spoke to management today. We should be getting updates on all those things later today and more informatively next week.
That was just a test...
That would require your unconditional belief that F.A is as old as he lying to be
Not that I believe you are actually doing that, but it would be a waste of money in my opinion.
It's a stink sheet stock. You've got a lot more information than they are required to provide.
Good luck with that.
I bought some at $13.00. Yes I am reading your posts again, Sorta. Actually a couple have been very interesting as of late.
Of course when I bought at $13.00 there were only 38,000,000 million shares outstanding (I didn't literally buy at $13.00, but factoring in reverse splits, the math works pre-new admin.)
Good luck.
Good Luck
IMan:
I luv you, but boy are you shoveling it thick here. (I took the other side F.A., imagine that)
Once again our 24 year old boy genious board Mod. posts non-facts about shares outstanding. Typical.
Mr. Dunn is a nice compliment to the FMNJ team and will provide details as you would like. It's not going to happen tomorrow.
Waite, and you will be given more details.