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This is my last attempt, only because I hate to see people misinterpret or not understand something.
The transaction was based on the price of gold. The transaction determines the divi payment value. The transaction has been completed. Therefore, the price of gold no longer has any factor on the dividend, because the transaction has been completed.
Hopeful, but not likely. I'm sure they are busy right now, and being that this deal could be done very soon, I'm sure is not a priority for them. See email below to stockholders:
From: Fortress Financial Group Inc. [mailto:ir@fortfinancegroup.com] Sent: Monday, August 02, 2010 9:31 AM Subject: Fortress Financial Group, Inc. - Company Announces Sale of Gold Interests
Dear Stockholder; Fortress Financial Group, Inc. issued a press release this morning announcing the sale of its gold interests. The announcement specifies that it has entered into a binding agreement to dispose of its gold interests, namely Bouse Gold, Inc and South Copperstone, Inc. The purchaser has requested that the final execution of the sale take place on August 12th in order to complete certain corporate actions to prepare for the impact of the sale and to conclude governance issues. The company has agreed to the timeline and has obtained agreement from Sloane Investments, Inc. to this completion date.
Fortress Financial Group, Inc. has filed two 8K documents this morning. The first 8K deals with the amendment and restatement of the project acquisition agreements that the company has with Searchlight Exporation LLC. This 8k filing can be found here http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7385235 . The second 8K deals with amendments to the loan note obligations of the company to Sloane Investments, Inc. The text of this 8K may be found here http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7385241
We will update the web site by late today in order to deal with this news and to provide detailed answers to many of the questions that stockholders may have. To be very clear, this deal is final, binding and it concludes this long awaited sale of our interests.
More details of the transaction have been released including the final sale price. The press release in its entirety follows:
LAS VEGAS, NV, Aug 02, 2010 (MARKETWIRE via COMTEX) -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms . . . . . .
The price of Gold no longer has any effect on the dividend, as per the last PR of 2 days ago: The price of Gold will no longer be a factor for the sale pricing of these agreements as the terms, as announced in this Press Release, are final.
The last update to the FAQ was July 20th. Not trying to be a dick, but it's right there.
We wish to stress that these transactions are now binding upon ourselves and the Purchaser with no variations to these Sale and Purchase Agreements. The sale agreements are complex and will be dealt with in greater detail in our regulatory filings on August 12, 2010. The price of Gold will no longer be a factor for the sale pricing of these agreements as the terms, as announced in this Press Release, are final.
Thanks. Just trying to keep things in perspective and realistic.
To the private messages, I can't reply due to having just a basic account, but thanks for the words.
prisoner, I probably just replied to the last message I wrote, it wasn't aimed at anyone in particular. I just felt like putting some thoughts down as an alternative view I had that wasn't previously expressed.
15 minutes left in the day, then headed outside for a nice spring Texas afternoon. You guys play nice. LOL!!
Just a thought . . . if a dividend is going to be paid, my assumption is that once the deal closes, FFGO shares will be canceled as it will no longer be a company. If I was the owner of said company, wouldn't I (or thru some other form of "stock agent") attempt to accumulate as many shares as possible, therefore either theoretically paying myself or "not" paying additional dividends for additional available shares??
Also, what's in a shareholder register audit?? I wonder if there will be a back dating ex-date for the dividends?? No offense to those doing it, but you would think some of the newer security holders may get left out or heavily discounted dividends. Notice in the statement "large expenses to prepare for dividends". Even if the company is sold at .003 par value, it's likely a huge chunk of expenses and other payments will come out of the final dividend, to include owed dividends from 2005. I'm thinking realistically, a dividend somewhere between .0005-.0010 per share is what we'll get, assuming we get anything at all.
And lastly, it doesn't surprise me the PPS isn't moving, why would it?? This stock will no longer trade once the deal closes, and as long as O/S are high, there's nothing that will move it, or have a need to move it. I'm sure the MM's, etc. are more behind the bid/volume chaos than the company. To me, that just means the end is near, whether good or bad. LOL
I've never posted here so hopefully I made my first post count. ;) Though, I've had an account for quite a while and am familiar with "the scene". I do actually hold in the neighborhood of 40mm FFGO shares purchased over the last 15+ months. Trading with emotion will screw you 9 out of 10 times, so whatever happens will happen. I've lost and profited more than this stock will or won't, so it's just another day at the office. But some of you are hilarious.
L8R,
J.W.
Fortress Financial Group, Inc. -- Highlights Progress Toward Sale 12:34p ET May 5, 2010 (Market Wire)
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) has been working diligently and has made significant progress toward the finalization of sale of its gold interests. In press releases during April of 2010, the company announced several steps that it has taken toward meeting this objective.
In earlier announcements the company detailed the completion of its shareholder register audits, the re-filing and re-instatement of the Bouse Gold, Inc. and South Copperstone, Inc. and the settlement of the majority of outstanding loan notes. These steps have all been accomplished and are the necessary precedents to the completion of the sale transactions. Moreover the company has incurred large expenses to prepare for the dividend distributions that will commence immediately upon conclusion of the transactions as the Company is distributing the sale proceeds, in full, to its stockholders.
The final steps to the completion of the sale and subsequent issuance of shareholder dividends now remaining are few. Fortress Financial Group, Inc. is currently working toward completion of the Bouse Gold, Inc. and the South Copperstone, Inc. audits. This step is essential as the company acquiring the assets is a publically reporting company.
Once these audits are completed, the acquiring company can finalize the purchase and the subsequent merge-in of the audited accounting, the sale will then be completed. The Company confirms that it will announce the sale simultaneously with the acquiring company; it is unlikely that the Company will need to provide any further notice to stockholders.