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It's not obvious for everyone . If folks really got how convertible notes work , why i continue to read things like :
" The Company is dumping shares ! Why they don't let it breath ? They raised $200k this week , it will be used for the Mill ! The company don't give a sh*t about shareholders , it's dilution machine ! Is Don can get off his hands of the cookie Jar ? "
But i guess , it's much more interesting for a newbie to read over and over :
"THIS A POS ! They are lying to us ! It's a scam , where is the money !
TIIIIIMMMBBERRR , trips are coming !
I don't comment each time you are repeating this FACT , and you know me well enough to know how hard i try to explain the Convertible Notes process to the crowd there, but some just don't want to learn ...
Shhhhht ! ;0) lol
Thank you really much sir , for waking up my brain here . Totally missed this determinant factor !.... The PAR VALUE ... ,0)
Geeez , because much of POS OTC tickers have NO PAR and the mind too busy with who you know , my estimation @.0008 is now off base , lol ;0)
The last PRE14C related to the latest AS increase to 5B is mentioning a PAR VALUE OF .001 as well ... ;0)
DAMN , GREAT POINT , CHAS ! ;0) I forgot it ! The PAR VALUE of the stock , WHICH IS .001 as per last 14C filled August 25 , related to AS Increase to 1,5B , is normally the bottom price . A share may not be bought, sold or traded for less than the par value ...
I will throw an e-mail to Bob for confirmation ;0)
Chas , the details on financing agreements are disclosed in annual reports. The fiscal year for FLPC is ending by July every year .As the agreements related to these notes have been contracted in December 2013 and March 2014 , we don't have the details yet . We have to wait for the upcoming 10K , as the quarterly reports only mention the amount of the Notes , due dates , and the conversion price formula .
However , if a minimum price conversion would occur , it should be mentioned , similarly to the note due December 18 which has a fixed price of .015
I have to find the original agreements on these specific Notes , but i doubt about it ...
Will take a look at it later .
Certainly way better than the Gazette and amateur websites on which you are digging the pseudo-validity of your free allegations ...
Fantastic news!! It is ALL in the filings
To all fellow FLPC Shareholders : Looking at this summary http://investorshub.advfn.com/boards/manage_msg.asp?message_id=108595053&PrevStart=61317 ,
assuming it will not fall below .0012 / or run like a beast before next friday , the conversion price for the Notes due december 4 and 5 ( The price taken in consideration on which the company is calculating the amount of shares they have the obligation to issue to Financiers, as per agreement ), should be around .0008 , as the stock failed to recover during almost 1 month without dilution...
Total $ Notes / dilution Dec. 4-5 :
63000 + 84000 = roughly / $150K > 187M shares
Going further explaining the process of convertible notes , it's not because the conversion price calculated by my estimation as of today is .0008 , than the PPS will necessarily fall to .0008 ... This number is just the coefficient on which the amount of shares issued to toxic financiers ( who can hold -sell - cover their short positions with ) is calculated ...
That's the result of a PPS as this low ... Thanks to all who stacked at the ask on such low volume days ... and , too bad the company didn't released any News during the last weeks , except a failing agreement on Arabia ...
In comparison , the $287K Note due on Dec. 18 will only cost us around 20M shares because of the fixed price of .015 , as per agreement ... (Tonaquint)
If you want to avoid such insane dilution for 150K funds raised , stop flipping it for 2 ticks and slap that ask , the valuation is extremely low at these levels ...
If you prefer to follow this kind of advice : "As for me..Buy/Sell...Sell a couple million at .0015 and buy back at .0011...do the math...the lower it goes...the more shares you have the less you need to regain what you have lost... " , then be prepared for the underground of OTC trading ...
If you want to see this stock ending at no bid and your money locked in for maybe months or even years, this is the Best Way to play it ... I'm ready for any scenario though ...
Please don't come to complain about the dilution in this case ...
Wishing you all a great weekend ! ,0)
Cheers!
I take my informations on SEC filings , not on a little Journalist's diarhea ...
OK , Be Wary , no point to pursue the conversation there ...
The 10K will be out in the coming days ...
I'm not suggesting , i'm informed . Read the SEC filings and you will know ... do you need help to do so ?
LOL , the annual 10K will be out soon . You may begin by reading those which are already out since months ... as we have the chance to be involved in a SEC Reporting STINKY PINKY , lol ....
Take any OTC stock , read the SEC filings ( if the ticker has ever filled one of course , lol ) , you will be extremely lucky if you find one ticker which has ever financed his operations without the help of financiers like Tonaquint , Asher and else ...
And as the Economist Guru you are , you know very well why , but you continue to press on the lemon ... huh ?
The FLPC debt is not as big as you want the uninformed to believe ...
Take the SEC filings and quote where did Mr.Voaden took or could have taken any consulting fees ... all this without these fees have been accounted in the Director's compensations item ...
All suggestions ... no Facts ... as all your allegations ...
OTC stocks don't need to post profits to run as their Capitalization are as low than a little upside momentum can result to 1000 % profits and the Capitalization still be ridiculous ... But it seems you don't get it ...
It's not the NYSE there ...
Your argumentation could be scary if we were at $150M Cap , but not here at .... $1,4M ... lol
Yep, the Company is working on and we already have a buyer ...
You are quoting what is interesting to you ... lol
The Conversion price should be around .0008 , as the stock failed to recover during almost 1 month without dilution...
Ahhh? What did you SAW ? You are making the whole OTC trial here , the topic there is FLPC ...
Mr.Voaden is at the Board of Directors ,so by the way , he has no Executive Rights . He's working as a consultant for the Company but is not running it .
Real track record ? As real as the one you made on Donald Nicholson ? lol
I didn't find anything factual damaging to Mr.Voaden except a little journalist's opinion ...
Going further explaining the process of convertible notes , it's not because the conversion price calculated by my estimation as of today is .0008 , than the PPS will necessarily fall to .0008 ... This number is just the coefficient on which the amount of shares issued to toxic financiers ( who can hold -sell - cover their short positions with ) is calculated ...
To all fellow FLPC Shareholders : Looking at this summary ,assuming it will not fall below .0012 / or run like a beast before next friday , the conversion price for the Notes due december 4 and 5 ( The price taken in consideration on which the company is calculating the amount of shares they have the obligation to issue to Financiers, as per agreement ), should be around .0008 , as the stock failed to recover during almost 1 month without dilution...
Total $ Notes / dilution Dec. 4-5 :
63000 + 84000 = roughly / $150K > 187M shares
That's the result of a PPS as this low ... Thanks to all who stacked at the ask on such low volume days ... and , too bad the company didn't released any News during the last weeks , except a failing agreement on Arabia ...
In comparison , the $287K Note due on Dec. 18 will only cost us around 20M shares because of the fixed price of .015 , as per agreement ... (Tonaquint)
If you want to avoid such insane dilution for 150K funds raised , stop flipping it for 2 ticks and slap that ask , the valuation is extremely low at these levels ...
If you prefer to follow this kind of advice : "As for me..Buy/Sell...Sell a couple million at .0015 and buy back at .0011...do the math...the lower it goes...the more shares you have the less you need to regain what you have lost... " , then be prepared for the underground of OTC trading ...
If you want to see this stock ending at no bid and your money locked in for maybe months or even years, this is the Best Way to play it ... I'm ready for any scenario though ...
Please don't come to complain about the dilution in this case ...
Wishing you all a great weekend ! ,0)
Cheers!
FLPC - Convertibles Notes shedule till december 2014
Note issued October 21, 2013 with interest at 6% per annum. Principal and interest are due on October 21, 2014. The conversion price shall be equal to 65% multiplied by the average of the two closing prices during the five (5) trading days prior to the conversion notices.
113,847 PAID
Note issued October 21, 2013 with interest at 10% per annum. Principal and interest are due on October 21 2014. The conversion price shall be equal to 60% multiplied by the lowest closing prices during the ten (10) trading days prior to the conversion notices.
130,000 PAID
Note issued March 03, 2014 with interest at 8% per annum. Principal and interest are due on December 05, 2014. The conversion price shall be equal to 58% multiplied by the average of the three lowest closing prices during the ten (10) trading days prior to the conversion notices.
63,000
Note issued December 04, 2013 with interest at 10% per annum. Principal and interest are due on December 04, 2014. The conversion price shall be equal to 60% multiplied by the lowest price during the ten (10) trading days prior to the conversion notices.
84,249
Note issued April 26, 2013 with interest at 8% per annum. Principal and interest are due on December 18, 2014. The conversion price shall be equal to a fixed price of $.015.
287,188
( This December 287k note is at a fixed price of 0.015, it will cost us only 20M shares )
Per last 10Q
Words of wisdom! Keep them coming ;0) Happy Thanksgiving ,GO4
Cheers!
Being on the BOD ( Board of Directors) doesn't mean having Executive Rights ( Management) . Do your DD ...> know what you are talking about...
FLPC - A National Instrument 43-101 Technical Report on the Phase 1 Drilling Fencemaker Antimony Project, Pershing County, State Of Nevada,U.S.A.
http://www.firstlibertypower.com/wp-content/uploads/2012/09/Fencemaker-Drill-Report-43-101.pdf
National Instrument 43-101 (the "NI 43-101" or the "NI") is a standard used for the public disclosure of information relating to mineral properties.
Plainly put, the purpose of the National Instrument 43-101 is to ensure that misleading, erroneous or fraudulent information relating to mineral properties is not published and promoted to investors on the stock exchanges
Process for an ihubber to be considered for being on FLPC BOD:
Person needs to contact the company directly at:
IR@firstlibertypower.com
The company will go then over the process and responsibilities associated with being a BOD member as well as how to get their name on the ballot.
The Agreement on Fencemaker is dated of August 22, 2012 .... we are in November 2014 and the mine has now a 36'500MT/year permit for exploitation , has the NDEP Approval , and has produced 700MT stockpiled ore waiting to be used in order to calibrate the Mill on which we acquired 50% rights by SPA with Coronets ....
That contradicts the term "startup". It ceases to be a "startup" after years of failure. And calling it a "startup" does not exonerate its abysmal performance.
The truth on startup companies is that many mistakes are made and losses happen. Some are trying to make us believe all startup companies make a profit, release financials every quarter and all aspects of the business run smoothly. THIS IS NOT TRUE. Startup companies can go years without profits, financials and good business, this is the nature of the beast.
Happy Thanksgiving , Pitt ... ;0)
From the Board of Directors and Management Team of First Liberty Power Corp., we wish all a blessed Thanksgiving.
https://www.facebook.com/FirstLibertyPower/photos/a.502959613055346.120485.483344251683549/919554368062533/?type=1&theater
Happy Thanksgiving to all out there ! Cheers! ,0)
Thanks for all these informative posts, doctor. What about your great DD on FB? lol
Especially when the ticker is as illiquid than this one ... $3000 volume.... lol
This can be a tactic too . If you have shares to sell , should i say flip , @.0013 and you have a buyer with a 2M daily order @.0012 who don't want to move up his offer ... you fill him 5000 shares on his 2M order which will collapse at the closing bell ... The buyer is upset as he will only get partial fill not even worth the commission ... So maybe you have a chance he will finally prefer to buy your shares @.0013 instead of taking a micro lot which will need to double to cover the commission ...
Yep , most likely , ... or they would have continued to do so ... ;0)
I got your point , but you and me are not making the Financial Regulations , right ?
A PRIVATE COMPANY doesn't share anything with anybody though ... Nor Failure or Success ...
FLPC- Q/A with the IR : 11/21/14
(...)
What finally happened to the shipment to China ?
That shipment has been completed and a small dollar amount was paid for the ore material. The outcome was we need a higher concentration level to successful ship to this buyer. That is why the company search for the Liberty Mill and completed the purchase agreement.
(...)
You're right , 10K shares were painted @ .08 , but much more at .07 , giving the close at $35M Cap ... for a blast at Fencemaker after NDEP approval ... ;0)