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I do hope you are correct.
No one is talking this morning...Whats up??
Jufel,
Do you have a 100 Million share buy order placed with no conditions? or do you have it as an AON? There is another poster here claiming to have a buy order in for 100mm shares AON. As for that poster, I fail to see the logic of the AON condition if one really wants to buy shares. 200 million in buy orders may not move the pps but it might liven things up around here a little bit.
JMHO
True, but if the shares are tradable as FFGO has stated is a condition to be met prior to distribution, then you can still sell..NMGL only needs a board approval to buy back the shares once they have sold off the gold properties, but don't expect to get anymore than $.0034 regardless of how high the price of gold gets. You'll need NMGL commons to see anything above that.
Thats the way I read the conditions.
RodneyS10,
Thats all BS..no record date has been set. Your still good.
GM Vianna, Hope your doing well. It's a beautiful day here in the south!!
Go FFGO!
RodneyS10, I enjoy your positive outlook, I really do, but I think a word of caution is in order here. This is all just my humble opinion, I do not think it would be a good idea for anyone reading this board, especially newbies, to start believing that FFGO is going to trade on the big boards. If FFGO is to be believed, (I still do). According to FFGO's own statements the company will go dormant once the dividend has been distributed (yes..it would seem that they are all ready dormant, but in reality they are doing exactly what they said they were going to do). I don't believe they are gone, they are simply waiting like everyone else. Mr. Lowenthal and NMGL is the drummer now. When he is ready FFGO will declare the Dividend. Once the record date is declared, and the ex-date is made known, we "should" see movement in the PPS to no more than .0034, thats when we make our money on a trade. Once we are post ex-date, the stock should then return to the current PPS and the company goes dormant. End of story for FFGO stock. If you miss the trade, and instead recieve your NMGL prefereds, then you have to wait for them to become tradeable or NMGL buys you out.
As far as the suspected NSS position, and the buck a share club goes..well...I hope Varmit is right and we all get rich! If I still my shares, you can bet that I'll be selling all 11mm of them when the shorts cover at a buck!! Make your trade and then go buy Momma a new house or something..lol.
JMHO
Dich
I agree Le2dynasty..looking forward to the day after!!
Go FFGO
Greetings Varmit!!
What makes you say Nov. 21st as the possible date?
Thanks varmit...I'm taking it all under consideration..at present none of my shares are for sale...a funny thing...my scottrade broker suggested to me a few weeks ago that if I really wanted to sell then I should set the price with 4 zeros...lol..imagine that!
Go FFGO!
How many folks here truly believe Varmits "buck a share club" will be sucessful? If you do. Why? Just curious
Thanks
Bull...you might check with le2dynasty over at the smpp board his FFGO account showed the same thing, so he was asking around about it.
yup...thats not a pretty picture.
Thanks Bull..I dont have PM so I cant respond direct. But I agree, it means something..just not sure what. Something screwy goin on around here..lol
Go FFGO!!
Also last week Scottrade showed the value of my FFGO holdings going from .0001 to 0 then it went back to .0001...I Know another person with scottrade experienced the same thing. Did this happen with anyone else outside of scottrade? Just curious..I have no idea of what it means perhaps it means nothing at all.
yesterday afternoon on Scottrade I saw the ask at .0005 today it is back to .0001..anyone know why it went to .0005 and back again?
I'm suggesting that crimes are being commmited, if there is in fact celler boxing, and NSS! ....Who would be commiting those crimes if they are in fact being made?? Certainly not the managament of the victim company that is being driven into the dirt!
As far as the Company management being crooks...well...prove it!! I live in United States where the law of the land states that you are innocent until proven guilty in a court of law. The burdon of proof always falls to the accuser, so I say again, Prove it! The SEC has made no move againts FFGO, and there is no indication that they will. The only thing you have shown is that Pinksheets placed a buyer beware label on their Stock...That in and by itself proves nothing. Even the long and ugly history of FFGO's failed deals, and inability to pay historical dividends does not prove a scam.
So criminals report their illegal activities do they?
I tend to think that Viannas "fantasy, and just for fun" share count has enough validity to it to suggest that there is a substantial short position. And so far no one has been able to prove that there isn't. So say what you will, but just saying something does not make it true.
There is volume being reported, which means this stock is being traded.....So it seems that your fact has a hole in it, and the whole world knows it. So you have been out to the claims at Bouse and South Copperstone and did some mining? found nothing? which qualifies you so you can say with absolute certainty that there is no gold in the ground?? Did you have a permit for all that mining you did that proves the geologist wrong? No? HMMMM...yep you got me convinced.
There is no proven scam. So what exactly would they be protected from? The only thing halting FFGO would accomplish is letting Shorty Get away with it....hmmmmmm...and all current investors would loose their investment......well that does sound like something the short man would like to see happen.
Go FFGO!!!
Alien42...I do not have PM..I appreciate your position, I consider your opinion, backed by your decade or longer Investor experiance as something to be considered seriously. However, and please remember, the term "scam" seems to have been reserved by "certain advocates" here on IHUB. I do not think you run with that crowd. So I'm puzzled as to why you would want FFGO halted by the SEC. Do you really hope all the FFGO investors loose their money? I would think you would like to see this deal come to a sucessful conclusion. Personally I find trying to educate potiential investors with all the known facts as a better past time. Your post from the pink OTC markets is good information to anyone looking to invest in FFGO.
IMO
GO FFGO!
It is said that "actions speak louder than words", likewise "in-action" speaks just as loudly. After all this time of 5 or 6 years or longer, and also considering all the "alledged" numerous complaints filed with the sec by shareholders (which is according to many posters). And the SEC has taken "no action" to halt this "SCAM" as you call it. Then I think it's safe to assume that the SEC does not see FFGO as a scam! Besides, if they had proof of a scam and didn't act to protect the market would'nt they then be guilty as well??
Go FFGO!!
got it, thanks, it's been posted and removed before. LOL..the admins don't seem to care for that topic very much.
GLTY
OK, let me know if you need to compare notes or what ever. and I do not have PM.
TTYL
Well I'm glad I didn't miss the show!! And there will be one soon IMO
Go FFGO!!
GM Vianna, and all FFGO'rs. Ive been away on a mini vacation for the past few days. Has there been any new developments to speak of?
GM Le2dynasty,
I just returned from vacation this morning and am answering my emails. Do you still need the info you asked about?
That would be true if NMGL or someone else associated with them started buying up the prefereds on the open market (insider trading). otherwise it wouldn't matter as the prefereds have a fixed redemtion price.
JMO
Thanks V. Anyway, I think a "Reverse Merger" is critical to completing this thing. As it is part of the means to the end. Not to mention that it confirms NMGLs intent to own 100% of both companies. What I find significant about it is that once all steps have been completed we will have the ability to trade our soon to be distributed Preferred "A" and "B" shares, and hopefully take profit in doing so. Or we can choose the alternative, that being to hold and wait for NMGL to sell. Which is ok, but I think the downside to that is time, and also, I do not see anything that states NMGL will sell both companies, or anything that states they would have to sell them both or to sell both at the same time. In fact if you read the redemption paragraph in the agreement it clearly tells us that they do not have to redeem all the shares at the same time. So, unless you don't mind possibly waiting and perhaps getting the div paid out in a piece meal fashion, then taking a less than expected profit may be an acceptable choice. Now don't take me wrong here, I'm not trying to put a negative spin on this thing, because I feel much more positive about this deal now than I have in a while. I'm sure we're going to see profits soon, I just fear that they wont be what allot of folks are expecting. JMO
Well enter the importance to NMGL of the increasing price of gold. NMGL share holders will benifit on speculation of a higher sale price. JMO
Super form 8-K's are real. Your vast knowledge of SEC forms impresses me!
The more I read about the super form 8-K and it's intended uses the more I think I'm able to understand what FFGO/NMGL is doing and possibly why things have been taking so long. Please look at some of the requirements for completing a reverse merger in the information below. Does any of the events required look familliar to anyone?
http://www.gopublicpros.com/reversemergers.html
I still have not put all the puzzle parts together and I could be way off base with some or all of my conclusions, but it appears to me that Bouse Gold inc. and South Copperstone inc. is intended to become wholly owned subsidiaries of NMGL. I'm confused about the share structure because it looks like NMGL would end up with 3 trading symbols: 1) NMGL common stock, 2) Bouse prefered series A 3) S. Copperstones Prefered Series B shares.
Regardless of that I think what it means for the FFGO share holders who evenyually get the prefered A & B's is this. Once we receive the prefereds we can trade them just like any other stock, Their value would possibly fluctuate but would be below their redemtion value. When ever the companies are sold off the shares would be redeemed per the conditions and values as set forth in the 8K.
None of this speaks to the other aspect of the possible Fantasy short position, and hoped for squeeze play. There is what seems to be evidence to support the short theory, but what would happen with regard to a sqeeze play if there is no "Cash" dividend.
Reverse Mergers
Public shell "reverse mergers" are most often used when the company is in a hurry to go public and/or they do not have the required number of shareholders to go public direct (and do not wish to obtain them by a private offering). When you go public by reverse mergers with a public shell company, the private company wishing to go public is merged with a company that is already publicly traded on the OTCBB or Pink Sheets. Typically these public company vehicles, often called 'shells', spin off any business they might have and often don't have any assets or liabilities upon merger completion other than the assets and liabilities of the private company that was merged in.
Time?typically 2 to 6 weeks from completion of the financial audit
Much more expensive than going public by direct filings.
Raising Capital?May raise money and stock is now valued and tradeable on an exchange.
Problems: The public company merged with could have unseen problems.
Advantages of reverse mergers over going public direct:
Much faster than a direct filing
Private company inherits the shell company's, thus meeting the shareholder requirement
Turn-Key Reverse Mergers Get a Price Quote on Our Reverse Merger Services
We offer turn-key Reverse Mergers' Services (all work completed by our experienced securities attorney). Everything needed for listing on the OTCBB or Pink Sheets by reverse merger from start to finish, including but not limited to the following:
Locating a suitable public shell company
Public shell company due diligence
All stock purchase agreements (all reverse merger legal)
Share capital restructuring, if needed
Name and Symbol changes
and more
Brief Outline of the Process
1. The first step in completing a reverse merger is to locate a 1934 Exchange Act United States shell company (the ?Public Shell Company?) which has no or minimal operations and is listed on the OTC Bulletin Board. The Public Shell Company and the Company will enter into a letter of intent indicating the parties preliminary intentions to engage in a reverse merger transaction which will be subject to the satisfactory completion of due diligence by both parties. We would typically the Company locate and evaluate an appropriate Public Shell Company based on many factors including the consideration willing to be paid by the Company for the Public Shell Company, the amount of acceptable dilution willing to be endured by the Parent and the appropriate mix of cash and equity paid to the Public Shell Company owners.
2. The second step is for the Company to enter into a reverse merger transaction through a share exchange with the Public Shell Company which has no or minimal operations and that is listed on the OTC Bulletin Board. Pursuant to the share exchange, the Company will exchange all of its shares of stock for shares of the Public Shell Company. As a result of the share exchange, the Company will become a wholly owned subsidiary of the Pubic Shell Company. The price of a high quality U.S. public shell company listed on the OTC Bulletin Board typically costs approximately $500,000 to $750,000 or more. The purchase price, as well as, the mix of consideration (i.e. cash vs. equity) typically depends on the type of foreign operating company that will undertake the reverse merger. Specifically, the stronger the foreign operating company is (revenues, profits and an operating history), the more willing the seller of the Public Shell Company is to reduce the cash portion of the purchase price and retain more shares of stock.
3. The parties typically schedule a closing date that normally occurs within one to two months of the execution of the letter of intent. In order to close the reverse merger transaction, the Company must have two years of audited financial statements prepared in accordance with Generally Accepted Accounting Principles (?GAAP?), as well as up to date reviewed quarterly statements. These financial statements must be filed in a ?Super 8-K? with the SEC within four days of the closing date of the transaction. The ?Super 8-K? must include among other things, the terms of the transaction, a description of the operations of the Company and the financial statements. The shareholders of the Company will now control the OTC Bulletin Board company which has its shares quoted on the OTC Bulletin Board.
Timing
Assuming that all negotiations are undertaken in an efficient and timely manner, the reverse merger can be completed in a four week period, provided the GAAP audited financial statements of the Company are ready within that time frame.
Try $258,030,208.22 as a why. Tickets!?!?! get your Tickets!!! LOL
Get'r done NMGL!! Go FFGO!
LMAO,,,a Super extraordinary Binding Reverse Merger would be a good move if they actually went into business of mining gold!
Super form 8-k??
I have a general question for the knowelgable traders here on the board, so if someone can, please explain the significance of the Super 8-K NMGL is "required" to file. I found an explanation that I've pasted below, but I'm not following how it would be applied to NMGL, FFGO, or Bouse Gold inc. or South Copperstone inc. So I'm guessing that there are other uses and reasons for filing a super. But if not then who is being reversed merged into whom? Is FFGO the Dormant Shell?? They have said that they will be dormant. The two gold companies are not operating as far as I know, and they are not reporting entities. Will this deal be making them so?. Does Western Diversified still have a role to play, other than holding the prefered A & B's? NMGL is not a dormant shell. LOL. Someone please explain, or throw your best guess at it.
Thanks
Quote:
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when a OTCBB or Bulletin Board Shell consummates a transaction which changes it from a shell company to an operating business, a Form 8-K must be filed which includes audited financial statements of the operating business as well as current information such as would be found in a registration statement. Such 8-K is often referred to as a "super 8-K".
The acquisition of a Bulletin Board Shell is succeeded by a reverse merger of the private entity into the dormant OTCBB Shell. For the inexperienced, the process is complex, and success hinges on retaining experienced securities legal counsel.
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http://www.legalandcompliance.com/SEC-reporting-requirements.php
Please read this from FFGO's FAQ, Why is the super form 8-K required??
This Dividend will not be declared until NMGL has (a) acquired the balance of the Bouse Gold, Inc. shares of common stock giving them 100% ownership of Bouse Gold, Inc. through the issue of additional NMGL Preferred Series “A” shares (b) acquired the balance of the South Copperstone, Inc. shares of common stock giving them 100% ownership of South Copperstone, Inc. through the issue of additional NMGL Preferred Series “B” shares (c) audited both Bouse Gold, Inc. and South Copperstone, Inc. (d) NMGL will be required to file a “Super Form 8-K with SEC upon their obtaining control of both Bouse Gold, Inc. and South Copperstone, Inc. (e) filed a Registration Statement with the SEC in respect of the NMGL Preferred Series “A” and Series “B” shares (f) such Registration Statement has become effective (g) obtained a CUSIP Number and a Trading Symbol for both the NMGL Preferred Series “A” and the Series “B” shares and (h) admitted the NMGL Preferred Series “A” and Series “B” shares for trading on a recognized exchange.
Doubt anyone has much use for super 8 film anymore.
lol
GM Vianna, lets hope we all have a very Merry Christmas!!
I have a general question for the knowelgable traders here on the board, so if someone can, please explain the significance of the Super 8-K NMGL is supposed to be filing. I found the explanation below online, but I am not following how it would be applied to NMGL, FFGO, or Bouse inc. or South Copperstone inc. So I'm guessing that there are other uses and reasons for filing a super, but if not then who is being reversed merged into whom? Is FFGO the Dormant Shell?? They have said that they will be dormant. The two gold companies are not operating as far as I know, and they are not reporting entities. Will this deal be making them so?. Does Western Diverified still have a role to play, other than holding the prefered A & B's? NMGL is not a dormant shell. LOL. Someone please explain, or throw your best guess at it.
Thanks
I think it will get done before Dec. 31st, because with the price of gold being what it is there is just to much motivation for FFGO/NMGL to just let things sit. If they do then they could realistically loose out on a possible huge financial windfall. Even if their intention is to create a huge short squeeze with a cash dividend they need to be quick about it or possibly loose the opprotunity.
Perhaps we will get a little insight to NMGL with their pending 10-Q, which I think will be filed by friday.
JMO
Get'r done NMGL!! Go FFGO!!
Thanks, but all my trade cash is currently tied up. If I could off load "some" of that other, I'd be a happy camper.