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GREAT NEWS
(MARKET WIRE) -- 07/14/08 -- Hunt Gold Corporation (PINKSHEETS: HGLC) announced on July 11, 2008 that certain Investment Groups had now assumed voting control of the Company and that the Board of Directors, with the assistance of these Investment Groups, was in discussions to dispose of its recently acquired "Molygold" assets.
The Board of Directors can now confirm that the Company will definitely be disposing of its "Molygold" interests.
The proceeds from the sale of these "Molygold" interests are to be utilized to effect a share buyback of the Company's "free float" of Common Stock.
The Company will focus its attention on its Gold Mining & Exploration assets.
The Company has no plans to effect any Placement of its stock for cash whatsoever, as it has the necessary funding facilities in place in order to execute its plans for its Gold Mining & Exploration assets, commencing with its "Mockingbird" mine on September 1, 2008.
Stockholders will continually be advised accordingly, as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------For further information contact:
Mr. Michael G Saner
please post more thx
(MARKET WIRE) -- 07/11/08 -- Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT: PHV), an independent oil and gas company, is pleased to announce that it has entered into a agreement with an OTCBB fully reporting public company for the acquisition of Pilgrim's leasehold portfolio. Due diligence of the transaction has finalized and the companies have achieved a successful negotiation of a material definitive acquisition agreement executed today.
Under the terms of the Agreement, Pilgrim and its associates, American Petroleum Corporation and Lariat Energy Corporation, will be compensated with a combination of shares and convertible promissory notes, a transaction that will represent a controlling interest with the OTCBB company. Disclosure of the Reverse Acquisition will be announced as soon as it becomes available and filed with the SEC 8K within the next day.
Additionally, Pilgrim Board of directors has approved a dividend distribution to our common stock holders and a buyback exchange. The declaration date and ratio of the distribution, and buyback exchange will be announced in the first week of August 2008.
Rafael Pinedo, President of Pilgrim Petroleum Corporation, commented, "Our entire team is excited and extremely pleased to finally achieve this long-anticipated step to become a fully reporting company. The significance of this transaction is a new chapter and a major milestone in our continuing growth."
About Pilgrim Petroleum Corporation.
Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PINKSHEETS: PGPM), (FRANKFURT: PHV). Pilgrim Petroleum Corporation is an independent oil and gas company based in Dallas, Texas. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2008 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
--------------------------------------------------------------------------------CONTACT:
Eddie Monet
Pilgrim Petroleum Corporatio
619-864-0166
www.apetroleum.com
Source: Pilgrim Petroleum Corporation--------------------------------------------------------------------------------
Public Companies Associated with this story:
It appears the mm's will not let this run.
MARKET WIRE) -- 07/11/08 -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 10, 2008 that certain Investment Groups had now assumed voting control of the Company.
The Board of Directors advises its stockholders that with the assistance of these Investment Groups, the Company is in discussions to dispose of its recently acquired "Molygold" assets.
The intention is to utilize the proceeds from the sale of these "Molygold" interests to effect a share buyback of the Company's "free float" of Common Stock.
These Investment Groups whom have voting control over the Company have informed the Board, as announced on July 10, 2008, that they are also considering a limited Tender Offer to stockholders in order to acquire additional shares of the Company's Common Stock in an attempt to reduce the amount of shares in the Company's "free float."
These Investment Groups and other significant stockholders in the Company are now determined to unlock value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.
The Company's Management is proceeding with its plans to file the requisite documentation with the SEC, in order to make the Company "Reporting" with the SEC, as previously announced.
Stockholders will continually be advised accordingly; as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------For further information contact:
Hunt Gold Corporation
E Mail: Email Contact
Telephone: (954) 840-6956
Mr. Michael G Saner
Source: Hunt Gold Corporation
Santini has got a lot of FFGO stock, That's good enough for me right mow.
I almost bought Freddie mac stock yesterday instead I got more FFGO.
IMO Bad for them, Good for us. There arrogance will be there down fall. FFGO Previously GWGO has been fighting a large NS position that goes back 3 or 4 years, go read old GWGO PR's. Something very BIG is going on here IMHO.
Market Maker manipulation! Plan and simple
No the micro-penny pinks are the only stocks I have made big money on.
Yes it says "free trading" not restricted as you try to make out. More basher BSSSS
Its down to believe the PR or not. I just love how Bashers distort company PR's..Basher SPIN
overachiever you say the shares retired were restricted, not according to the PR--"free trading"
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has repurchased an additional amount of 7,660,000,000 "free trading" shares of its Common Stock on July 8, 2008 and on July 9, 2008. The amount of 7,660,000,000 "free trading" shares of Common Stock are now being cancelled by the Company's Transfer Agent. This represents a further 17.84% reduction in the Company's outstanding shares of Common Stock.
Most likly Moneyworx, they held 80 - 90 % of the companys stock. Look at the moneyworx 8-k.
On January 15, 2008, Fortress Financial Group, Inc. (the “Company”) issued a total of 40,000,000,000 shares of its common stock, restricted in accordance with Rule 144, to the shareholders of Moneyworx, Inc. in proportion to the percentage of Moneyworx, Inc. owned by the individuals, in accordance with the terms of the Share Exchange Agreement by and between the Company and Moneyworx, Inc., dated January 8, 2008.
The shares issued to the stockholders of Moneyworx, Inc. were issued in reliance on the exemption under Section 4 (2) of the Securities Act of 1933, as amended (the “Act”). These shares of our common stock qualified for exemption under Section 4 (2) of the Securities Act of 1933 since the issuance of shares by us did not involve a public offering. The offering was not a “public offering” as defined in Section 4 (2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares offered. We did not undertake an offering in which we sold a high number of shares to a high number of investors. In addition, these shareholders had the necessary investment intent as required by Section 4 (2) since they agreed to and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933 Securities Act. This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4 (2) of the Securities Act of 1933 for these transactions.
My total now is 400k, if it goes lower I am going to go for a couple mil. Its looking like a good one to me. hard to beleive this was $ 3.00 in march!
Good buy V. I was able to get another 150k myself at .001. Lets hope for the best!
Nice post! LOL
Yes very good post makes sense
I was being sarcastic, do not need or want your "help" WOW something sure has got the bashers stirred up. Some one must be hitting a nerve.
It is called cellar boxing by MM's They can sell even if they don't have shares. But I am sure you will give me some more instruction. I made a bundle on PAIM when it ran from .0001 to .003. These things can run, better than a lotto play to me.
Yes Sir Mr. Genius Sir. I know for a fact is has been done. But of course you are the Expert.
Yes a Huge Naked Short Seller
(MARKET WIRE) -- 07/08/08 -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 7, 2008 that its Board of Directors has been informed that certain "activist" Investment Groups have obtained options to acquire significant amounts of the Company's shares of outstanding Common Stock along with their voting rights.
To date, the Board has been informed that the Investment Groups now vote in excess of 42.9% of the Company's shares of outstanding Common Stock.
The Board of Directors must now assume that these Investment Groups will assume voting control of the Company within days.
These Investment Groups and other significant stockholders in the Company are absolutely determined to extract value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.
These Investment Groups are not seeking to acquire in excess of 75% of the Company's shares of outstanding Common Stock.
Stockholders will be advised accordingly as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------For further information contact:
Hunt Gold Corporation
E Mail: Email Contact
Telephone: (954) 840-6956
MARKET WIRE) -- 07/08/08 -- Delta Mining and Exploration Corp. (PINKSHEETS: DMXC) ("Delta") announces that in view of the current difficulties in raising equity in the financial markets, Chairman of the Board of Directors, Charles Wells, has agreed to loan $75,000 to Delta that will allow the Company to move forward with its business and exploration plans for its diamond projects in Montana, and more specifically to complete the scheduled laboratory analysis of the 30 ton bulk sample from the Homestead property. In a Unanimous Consent of Directors, in which Charles Wells recused himself from the vote, the remaining Directors agreed to the terms of the loan. Details of the transaction are provided below.
The $75,000.00 loan is to be repaid in one "balloon" payment on June 30, 2010. The interest rate is 10% per annum, compounding annually. Delta Mining may prepay, without penalty, any portion of the loan at any time prior to the due date. For consideration of the loan, the Board agreed to issue to Charles Wells, 5,000,000 warrants at $0.01 and 5,000,000 warrants at $0.02, exercisable until June 24, 2010.
Should Delta default on the loan repayment, Delta has agreed to issue sufficient shares to Charles Wells to bring his total holdings to 30% of the issued and outstanding shares of the Company as of the date of the default of the loan repayment.
CEO of Delta, Brett Rodli, stated, "The terms of the loan are favorable to Delta and its shareholders and allows the Company to proceed with the important analysis of the Homestead bulk sample." Delta will release the commencement date when a date is confirmed with the laboratory.
About Delta Mining and Exploration Corp., http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in central Montana, USA. Delta controls some 7,554 acres throughout Montana located within the Wyoming Craton where much of North America's diamonds have been found.
NOTE: Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
--------------------------------------------------------------------------------Contact:
Brett Rodli
Chief Executive Officer
406-214-4579
Source: Delta Mining and Exploration Corp.
Alan, Please give us the details of the Unitrust Capital S.A. Group merger with GWGO that produced FFGO.
1.4 cents is the same as $.014
MARKET WIRE) -- 07/07/08 -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that its Board of Directors has been informed that certain "activist" Investment Groups have obtained options to acquire significant amounts of the Company's shares of outstanding Common Stock. To date, the Board estimates this to represent approximately 20% of the Company's outstanding Common Stock.
The Board has been advised by several substantial stockholders of the Company that they too require drastic action and fast. They have made it abundantly clear they will not tolerate the Company's stock price trading at such a huge discount given the commodities boom at this time.
Should these Investment Groups continue to acquire additional options to acquire outstanding shares of the Company's Common Stock as well as obtaining the support of other significant stockholders in the Company; the Board of Directors is of the opinion that these Investment Groups and their allies may very well control far in excess of 51% of the Company's outstanding stock and in an extremely short period of time.
The Company's Management and its Advisors are in discussions with these Investment Groups, significant Company stockholders as well as with other unrelated parties in an attempt to find an equitable solution, if at all possible. This will include the expediting of the Company's Mining Valuations for each and every Gold property in the Company's portfolio; in an effort to ascertain a fair value for the Company and/or for the various Gold assets held by the Company at this time.
These parties, being the Investment Groups and other significant stockholders in the Company, are absolutely definite that that they consider the Company's stock to be vastly undervalued, the Company's "free float" of shares being far too large and the Share Capital structure to be unacceptable to Institutional Investors. The reality is that the Company's current market capitalization is now even lower than the value of its "Mockingbird" Gold Project, therefore discounting all of the Company's other Gold Mining & Exploration assets.
To that end; they have indicated that they intend to effect substantial changes to eliminate this discount between the Company's Net Asset Value and its stock price as well as the Company's Mining and Exploration strategy. Their actions coupled with the extremely bullish global outlook for Gold, its supply and pricing; could very well lead to a complete buyout of the Company by these Investment Groups, should they succeed in their acquisition of sufficient stock in the Company in order to effect these changes. It is not unlikely that another bidder with similar intentions; may emerge in the interim.
Stockholders will be advised accordingly as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------For further information contact:
Mr. Michael G Saner
Hunt Gold Corporation
E Mail: Email Contact
Telephone: (954) 840-6956
Source: Hunt Gold Corporation
Here is the 8-k
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported): July 7, 2008
FORTRESS FINANCIAL GROUP, INC.
(Exact name of registrant as specified in charter)
Wyoming
(State or other Jurisdiction of Incorporation or Organization)
000-24262
(Commission File Number) 1903 60th Place E,
Suite M2240
Bradenton, Florida 34203 91-1363905
(IRS Employer Identification No.)
(Address of Principal Executive Offices and zip code)
(954) 840-6961
(Registrant's telephone
number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
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ITEM 8.01 OTHER EVENTS
On June 30, 2008 the Company had an amount of 59,150,850,057 outstanding shares of Common Stock.
NET ASSET VALUE PER SHARE AS AT JUNE 30, 2008 :-
On June 30, 2008 the Company had a Net Asset Value per share of US$0.0139.
This was calculated as follows :-
An amount of 483,750,099 shares of Hunt Gold Corporation (HGLC.PK) Common Stock are held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company. The value of this holding is in the amount of US$967,500. This is calculated at the Hunt Gold Corporation's market price of US$0.002 per share on July 3, 2008.
An amount of 10,000,000,000 shares of Hunt Gold Corporation (HGLC.PK) Common Stock are held directly by the Company. The value of this holding is in the amount of US$20,000,000. This is calculated at the Hunt Gold Corporation's market price of US$0.002 per share on July 3, 2008.
An amount of 1,030,034,482 shares of Bouse Mining Holdings plc are held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company. The value of this holding is in the amount of US$599,995,086.
This represents 46.8% of the Issued Share Capital of Bouse Mining Holdings plc. As of June 13, 2008, the Company entered into a Heads of Agreement to dispose their entire shareholding in Bouse Mining Holdings plc; to an OTC Pink Sheets quoted Gold Mining & Exploration Company (hereinafter referred to as "Goldco"). This is to be settled through the issue of restricted Shares of Common Stock in Goldco.
Based upon the pricing per share, the Company's stockholding in Goldco, through the sale of its entire stockholding in Bouse Mining Holdings plc; will be valued in the amount of US$0.5825 per 1 (one) Ordinary Share of Bouse Mining Holdings plc.
An amount of 1,030,421,001 shares of Copperstone Mining Holdings plc are held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company. The value of this holding is in the amount of US$201,035,137.
This represents 46.8% of the Issued Share Capital of Copperstone Mining Holdings plc. As of June 13, 2008, the Company entered into a Heads of Agreement to dispose their entire shareholding in Copperstone Mining Holdings plc; to an OTC Pink Sheets quoted Gold Mining & Exploration Company (hereinafter referred to as "Goldco"). This is to be settled through the issue of restricted Shares of Common Stock in Goldco.
Based upon the pricing per share, the Company's stockholding in Goldco, through the sale of its entire stockholding in Copperstone Mining Holdings plc; will be valued in the amount of US$0.1951 per 1 (one) Ordinary Share of Copperstone Mining Holdings plc.
SHARE REPURCHASES :-
On June 3, 2008 the Company purchased an amount of 376,941,669 shares of its Common stock at a price of US$0.0139 per share of Common Stock. This pricing being based upon the Company's Net Asset Value per share as at June 30, 2008. The cost of this repurchase was in the amount of US$5,239,488.92. This was settled through the transfer of an amount of 2,619,744,460 restricted shares of the Company's stockholding in Hunt Gold Corporation (HGLC.PK) and at a price of US$0.002 per share of Hunt Gold Corporation's Common Stock; to the vendors of these shares of the Company's Common Stock. This is calculated at the Hunt Gold Corporation's market price of US$0.002 per share on July 3, 2008.
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The Company has instructed its Transfer Agent to cancel these shares of the Company's Common Stock and in the amount of 376,941,669 shares of Common Stock.
On June 3, 2008 the Company purchased an amount of 14,332,141,579 shares of its Common stock at a price of US$0.0139 per share of Common Stock. This pricing being based upon the Company's Net Asset Value per share as at June 30, 2008. The cost of this repurchase was in the amount of US$199,216,768. This was settled through the transfer of an amount of 342,003,035 Ordinary Shares of Western Diversified Mining Resources, Inc.'s stockholding in Bouse Mining Holdings plc and at a price of US$0.5825 per share of Bouse Mining Holdings plc Ordinary Stock; to the vendors of these shares of the Company's Common Stock.
The Company has instructed its Transfer Agent to cancel these shares of the Company's Common Stock and in the amount of 14,332,141,579 shares of Common Stock.
CANCELLATION OF ADDITIONAL SHARES OF THE COMPANY'S COMMON STOCK :-
The Company failed to complete a Consulting Agreement with Mr. Leslie Smiedt. Accordingly, the amount of 1,500,000,000 shares of the Company's Common Stock issued to Mr. Leslie Smiedt in respect thereof, has now been cancelled by the Company.
The Company has instructed its Transfer Agent to cancel these shares of the Company's Common Stock and in the amount of 1,500,000,000 shares of Common Stock.
EFFECT UPON THE COMPANY'S STOCK HOLDINGS IN HUNT GOLD CORPORATION AND IN BOUSE MINING HOLDINGS PLC :-
The Company's direct holding in the amount of 10,000,000,000 shares of Hunt Gold Corporation (HGLC.PK) Common Stock has been reduced by an amount of 2,619,744,460 shares of Hunt Gold Corporation Common Stock. The Company's direct holding in Hunt Gold Corporation is now in the amount of 7,380,255,540 shares of Common Stock. The value of the Company's direct stockholding in Hunt Gold Corporation is now in the amount of US$14,760,511. This is calculated at the Hunt Gold Corporation's market price of US$0.002 per share on July 3, 2008.
The Company's indirect stockholding in Bouse Mining Holdings plc in the amount of 1,030,034,482 shares has now been reduced by an amount of 342,003,035 Ordinary Shares. The Company's indirect holding in Bouse Mining Holdings plc is now in the amount of 688,031,447 Ordinary Shares. The value of this holding is in the amount of US$400,778,318.
NUMBER OF OUTSTANDING SHARES AT JULY 7, 2008
The Company's outstanding shares have been decreased from an amount of 59,150,850,057 shares of Common Stock to an amount of 42,941,766,809. An amount of 16,209,083,248 shares of the Company's stock have been repurchased and cancelled. This represents a 27.4% reduction in the Company's outstanding shares of Common Stock.
NET ASSET VALUE PER SHARE AS AT JULY 7, 2008 :-
Based upon an outstanding amount of 42,941,766,809 shares of the Company's shares of Common Stock at July 7, 2008, the Net Asset Value per Share is in the amount US$0.0144.
The Company calculates in Net Asset Value in the amount of US$617,541,466 as at July 7, 2008.
This is calculated as follows :-
3
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Hunt Gold Corporation (HGLC.PK) shares of Common Stock held directly by the Company in the amount of 7,380,255,540 and at a market price of US$0.002 per share, give a valuation in the amount of US$14,760,511.
Hunt Gold Corporation (HGLC.PK) shares of Common Stock held indirectly by the Company in the amount of 483,750,099 and at a market price of US$0.002 per share, give a valuation in the amount of US$ US$967,500.
Copperstone Mining Holding Ordinary Shares held indirectly by the Company in the amount of 1,030,421,001 and at a value of US$0.1951 per Ordinary Share, give a valuation in the amount of US$201,035,137.
Bouse Mining Holding Ordinary Shares held indirectly by the Company in the amount of 688,031,447 and at a value of US$0.5825 per Ordinary Share, give a valuation in the amount of US$400,778,318.
The value of the Company's stockholding in St James Capital Holdings, Inc. (SJCH.PK) and the Company's intangible assets have been excluded from this calculation.
GENERAL :-
St James Capital Holdings, Inc., nor any its subsidiary companies, are no longer a stockholder in the Company following these above-mentioned transactions.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not Applicable
(b) Pro Forma Financial Information.
Not Applicable
(c) Exhibits
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Fortress Financial Group, Inc.
Date: July 7, 2008 By: /s/ Alan Santini
Alan Santini
Chief Executive Officer
WOW!!! Great PR
MARKET WIRE) -- 07/07/08 -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has repurchased an amount of 14,709,083,248 shares of its Common Stock and cancelled an additional amount of 1,500,00,000 shares of its Common Stock. A total amount of 16,209,083,248 shares of the Company's shares of Common Stock are now being cancelled by the Company's Transfer Agent. This represents a 27.4% reduction in the Company's outstanding shares of Common Stock.
The total cost to date of this repurchase of the Company's shares of Common Stock is now in the amount of US$204,456,256. This valuation excluded the value of the Company's intangible assets and the Company's stockholdings in St James Capital Holdings, Inc.
The Company's Net Asset Value is valued in the amount of US$617,541,466 as at July 7, 2008. This translates into a Net Asset Value per Share in the amount of 1.44 cents based upon the number of the Company's outstanding shares of Common Stock now being in the amount of 42,941,766,809. The Company has marked down its valuation in respect of its stockholdings in Hunt Gold Corporation to a price of US$0.002 per Hunt Gold Corporation share, for the purposes of this calculation.
The Company's Management notes that the Company has lost hundreds of millions of dollars "on paper" in respect of its stockholdings in Hunt Gold Corporation. It is expected that this will be rectified in the medium term. The Company's Management remains extremely bullish in respect of Hunt Gold Corporation's prospects and upon the value of that Company's Gold Assets.
The Company's Management considers the outstanding number of its shares of Common Stock to be considerably higher than desired and intends to undertake further and more aggressive steps to reduce this number of outstanding shares, in the short term.
The Company is filing a very detailed Form 8-K with the SEC in and during today, in respect of these transactions.
The Company has been formally notified that several unrelated stockholders now hold in excess of 5% of the Company's "free trading" stock based upon the reduced number of outstanding shares. Several parties have informally notified the Company that they have now accumulated significant amounts of the Company's shares of Common Stock.
The Company is awaiting the filing of these various Form 13(g) and Form 13(d) notifications by these third party investors, with the SEC; and upon receipt thereof will be in a position to advise our stockholders as to the exact number of shares in the "free float."
About Fortress Financial Group, Inc.
Fortress Financial Group, Inc. was primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. Upon the closure of the Trinity Mercantile Finance and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. will expedite its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the immediate to medium term.
The Company is utilizing is substantial Balance Sheet of circa US$700 million, comprised of quoted and unquoted Gold Mining & Exploration stocks, to aggressively fund a large number of acquisitions in the consumer financial services sector, initially focused on the Mortgage Lending and Banking sector.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------Contact:
Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer
Email Contact
Tel: (954) 840-6961
Thx for the new info! I am still fine with my 2 mil though CEO owns a large piece, dice roll in the pinks though, but the runs can be big. Got to pay to play.
Here is why I bought into this.
http://knobias.10kwizard.com/filing.php?param=&ipage=4801244&DSEQ=1&SEQ=&SQDESC=SECTION_INSIDER&exp=
And from Pink Sheets
Outstanding Shares
80,000,000 as of Mar 25, 2007
Authorized Shares
500,000,000 as of Mar 25, 2007
Float
8,748,000 as of Mar 25, 2007
These are the times to buy, than sell on news.
Not dead just quite
Alphabet soup GWGO/GWGD/FFGO, good one, made me laugh, thx I like a good chuckle. It has been quite a ride, hope It ends soon with some solid facts on what's been going on.
I don't think so, I think the buy back is FFGO. I think this is separate.
Here is a Santini, Lumb and St James Capital Link. It is long but interesting.
http://www.stjcapital.com/pdfs/pinksheets/STJ_Pink_Sheets-050705.pdf
It looks to me like a separate corp. that santini is involved with bought the shares. He does not own the shares personally, but would have some measure of control over them. Not necessarily bad IMO. Maybe he and others put up the money to purchase them in a corp. The filling says corporations, plural. More info coming I'm sure.
FWIW According to the SEC filling santini did not purchase these shares directly him self, they are indirect through "corporations". HMMMMMMMM Maybe others involved? This may get GOOD!
SHARES OF COMMON STOCK 06/26/2008 06/26/2008 P 2,400,000,000 A $ 0.0001 2,400,000,000 I BY CORPORATIONS