To paraphrase the infamous Gordon Geco..this stock is a dog with endless flees.

Hi V....how have you been? No, I didn't see the list..I've been tuned out for a bit. I wish I felt different about FFGO but I fear its a total scam. I wish I had your optimism. Anyway, hang in there and lets hope for the best. Good hearing from you.

Hi FFGOers. Been away on business for awhile. Whats happening with FFGO these days? Are we still in the soup?
I wonder if this stock will ever be anything but a total loss?

That shouldn't be too hard to do!


"THEY LOVE THIS TYPE OF STUFF, TO MAKE THE GOVERNMENT AGENCT (SEC) LOOK LIKE A BUNCH OF INCOMPETENTS"

Long..I'm with ya! I'll join the email campaign. Its time Reform & Regulation (transparency) come to the penny stock world. My thought is the seasoned/experienced investors are probably well aware of the dangers of penny stocks but the newbees are largely unaware and very vulnerable to scams and con jobs. Scams & con jobs should not be a part of the penny stock world but they are and the public needs to be on guard. Also I think Lumb & Dumb should spend some time visiting Mr. Madoff. I'm sure they'll get along just fine.

Another great post! As investors, we can accept and live with normal market forces and the associated risks but that doesn't translate to we'll gladly accept lies, fraud and loss of money as our final dividend for "investing" in Lumpy scams. In retrospect, I certainly would have felt better giving that money to a worthy charity as opposed to Lumb & Dumb getting their paws on it.

Good post. Sadly, it appears we got FFGOed again. I filed a complaint with the SEC but I doubt it will do any good. I don't think they care nor will they do anything about it. I decided to invest in this stock and therefore I take responsibility for that bad decision; but, this deal still looks like a scam. I will take my Lumbs on this one but personally I will never invest a dime in a Lumb deal again. I guess the best we can hope for is to try and salvage what we can.

Hey...ya gotta admit ..it sure worked for Lumb & Co. And the beauty is he and his comrads will turn around and do it again & again. I still think that old rumor about Lumb setting up a new company to facilitate his life long dream of a "Mars Exploration & Consepation Venture" is a real possibility. The good news is...you can buy in at .0001 per share and in 60 or 70 years it will be worth over .003 per share. You might even be able to trade in 10 million shares of FFGO for 1 share in the new company. What a deal.

Yea...nothing like keeping us in the fog. Of course, thats what they always do and have always done. Allude to some future date with some great reward from some mysterious company...on & on.'
I do believe the key players are happy with the outcome. Lumb & Dumb made out like bandits...whats not to like?

V....Very Interesting post. One comment in there surprises me...
"FINRA allegedly tried to use their newly acquired powers to kibosh this dividend?" Why does the poster think FINRA tried to kill the dividend? Is there any evidence of that?

V ...sorry about FFGO. Like many others, I have been very negative about FFGO...not because I'm a basher...I just don't want to see people get scammed. Sadly, I too take a loss on this one but it was with left over shares from when I took a loss in 2008. That was even more painful. Bottom line...I won't touch any more stocks that are in any way connected with Lumb & Co.
Hopefully we learn from our mistakes and move on. Good luck to all.

Well folks...It looks like we've been FFGOed again!

Not surprised here!

It seems they are very skilled at walking that thin line.
We are in need of some serious reform in the way penny stocks operate. Ripping off the public has got to stop.

OK...now I'm with you. I agree..this appears to be a huge scam and, if in fact it is, its high time to put an end to this crap.
Sadly, I don't think SEC will do a blessed thing. Lumbi & Co will skate with our cash but he will be back later to play his shell game over and over. Its one thing to participate in a "Lotto Play" but a con job is quite a different animal.

Ugh...What would be the "Right Thing?"

Are you serious? The transfer of wealth will be from us to Lumb & Co. How will this change the way business is done on Wall Street?

Puppy...I hate to always sound so negative on FFGO but I think you are right. For FFGO to payout such a huge cash div. is too illogical and totally contradicts their past record. I haven't seen too many lepoards change their spots in my life time. For my sake and everybody elses sake I would love to see FFGO do a complete turnaround..but thats quite the stretch.

What about capital gains tax at the corporate level?

A $1 cash is worth $1. A $1 worth of Lumb's replacement stock is maybe worth $.00000000000000 per share. Thats giving him the benefit of the doubt.

What if FFGO & Co keep the cash and handout a stock div in a (worthless) Lumb shell company that will supposedly be worth $50 billion 200 years from now?

Oh...It's Good to be the King....even better to be Lumb!

Sure...and I'm having a special sale tomorrow...buy one and get 30 free!

It makes cents (and mega big dollars) to Lumb & Co but no sense to us. The obvious answer is that the shares are not really worth 30 times the current value. BUT...creating the illusion so as to be able to suck in more investor dollars....that could be worth way beyond 30 times value. But..then again..its just my opinion and, of course, I could be wrong.

And how much would that value be? To Whom?

They don't have time to watch the big companies...why would they care about FFGO or Mr. Lumb?

Hey! Hey! Lumbi is the Man. If he can't scam you...who can???

Yeaq but the good news is...Lumb pulled it off...again and again.
I'm sure he'll smile all the way to (Mexico) ..I mean the bank.

The problem is...you're trying to introduce "common sense" to an equation where there is no common cents.

You do not need to do anything to receive this as it is automatically credited to your Brokerage account.
Yea...a big fat .00000000 will be credited to our accounts.
Lumb and Dumb will run away with the real $$$$$$$$$.

My bad...I thought this was a recent notice. I wonder who the current auditors are? I wonder what kind of opinion they they issue?

Not sure I follow you. Please elaborate.

Wow! When the Auditors walk out... I'd say that's clear evidence this is a crap shoot at best.

You would probably be safe filing that estimated payment in 3Q-3010. Once that's filed, IRS should let you deduct that payment as a charitable contribution or entertainment expense.
Maybe IRS should allow more than a $3,000 Long Term Capital Loss Deduction (per year). In fact, FFGO holders should get an unlimited deduction offset by a "Stupid" Tax. Looks like I'll be eligible as much as anyone else. I sure paid my share of "Stupid Tax" to paraphase Dave Ramsey.

Back the truck up now! Let's get buying bigtime before those sunspots disappear.

Sounds like a plan ..(LOL!)

Why do you think we are on the cusp of the finish line? FFGO has dangled that carrot in front of us for years. Everything is tomorrow, next week, next year, next century...next life time.
I think their latest theory is they are waiting for the Moon, the Sun and Jupiter to all line up at at 33 degree angle while its raining in Mexico and Obama cuts spending by $2 Trillion. Doubtful that will happen in our lifetime.

Seems like the audit could kill the deal...if there ever was one.
I would sure like to know who the auditors are. They're probably some No Name from South Africa. How long can they continue this charade? I think we should hire FFGO's board of directors to head Obama's "Czar of Transparency" position....(LOL).

This whole .003 divdend idea is very suspect to me. In theory they could do it but it seems very unlikely given FFGO's history, Lumb's reputation and the basic math calculations. The projected value divided by the number of O/S shares doesn't translate to .003 per share. As for requiring the big players to pay a higher price...not sure if they can do that. There are so many unknowns here its difficult to be certain of much. Perhaps others can shed more light on this.

I see you are new to stocks. Welcome! I also see you bought FFGO..what a stock to cut your teeth on. I hope you went easy in terms of dollars spent. Obviously, its your call but caution to all newbees. FFGO is FFGO. Do your DD and be mindfull of the past history. FFGO implies you will get rich on their stock but there are many who did not fair so well. Best of luck to you and all of us FFGO investors.