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I don't know that I said the broker "guaranteed" anything, don't add meaning to what I said. It is not a case of guarantee, it is a case of following the strict rules that allow brokers to take investors money and shares putting them in their street (broker) name,to manage as to brokers advantage.
You totally missed my point by adding your own terminology.I noticed others
are following my point without difficulty however.
Nope Not worried,I never had revoked shares in my account, all I ever received is a broker promise to pay for taking my purchase and putting it in his broker name.That promise to pay still sitting there (not revoked).
Now this little story I posted on the SEC, if those shares now represented by the broker promise to pay, is now found that the final results of that action of taking my money and my purchased item replaced with the promise to pay.
In turn, resulted in selling something that wasn't registered (his promise to pay) for example! Who knows where the purchased shares or my money went too, I have a promise to pay generated by the broker! So to sum up. if that action by the broker (putting a generated value in my account while taking my shares and money) either generated a NSS or if the company declares a dividend against that value.The broker is on the hook, and it looks like SEC is on the other end of the line, and is ready to start turning the reel, so it is not me that is worried!
AlanC, I don't know about justice,however grave yard space is becoming a premium lately!
Hey, You don't think that maybe your reporting or others that you are trying to corral to report, has taken effect, and caused an investigation with the final finding, causing this SEC .reaction?
The SEC is going after the SHORTERS, not the officers of companies that were destroyed by those shorters.
Looks like you were putting your eggs in the wrong basket.Too funny!
Might want to read this again just so you know SEC has reached their investigation conclusion with the following action taken!
SEC Halts Stock Borrowing "at last"
http://www.sec.gov/rules/sro/nscc/2014/34-71455.pdf
http://www.dtcc.com/~/media/Files/pdf/2014/2/4/a7676.ashx
ngs were ......
Yes Alan "Worth waiting for" and probably more value than the USD will be in the coming months.
Many are expecting the dollar to crash in value by 50%, I have to wonder if our A's and B's will change in value accordingly (6800%)? The promises to pay our dividend seems to be by far a great deal more reliable than the promises to pay in federal reserve promissory notes.
The QE3 (quanative easement) of $85 billion per month, for many months now through the feds printing press, has reached the point, we are now in a position that the piper will need to be paid!
At the same time our A's and B's are still holding their value or increasing (?) as the price of gold increases, and the $ devalues. There are some very interesting times ahead for all.
SEC Halts Stock Borrowing "at last"
http://www.sec.gov/rules/sro/nscc/2014/34-71455.pdf
http://www.dtcc.com/~/media/Files/pdf/2014/2/4/a7676.ashx
xbladeRob, You haven't a clue what Alan knows or what roads he has been down, that you may never travel.
This company was indeed caught up in the very lucrative endeavor of selling shares that were never issued and what was not available to sell. Very easy too, if you can sell what doesn't exist and continue over and over compounding the problem, with the oversight people's blessings.
Trillions have been sold throughout the market. FFGO is only one of thousands of companies that have been hurt by this unlawful process.
To say this is an ongoing defrauding of people is ludicrous, no one can buy any more shares as well as no more shorting can occurred, however those that reaped the harvest when it was trading and sold what the company never issued may now need to pay the pipper.
That would be like reporting the St Valentines mascara to Al Capone
7-10-11, Be careful you may be over loading some with way too many FACTS!!
Hey varmit,appreciate your post and enthusiasms but before you let the class go, please answer one very obvious question from this student.
With all that gold in tailings (100 mill) why are they borrowing 400k to file, why not just run the material, slues and pan out the tailings?
the only thing I can think of for an answer, is there is no tax on borrowed money, what other reason would there be not to use known assets to pay bills?
As you should know by now the NMGL A&B shares were paid too Western a sub of FFGO.
We have been waiting for the remainder of the contractual transaction to be completed. Then NMGL will clear so Western can distribute the dividend, I have no idea why it is taking so long, however it is what it is.
No matter what you say we are going to be here, your words have no impact on either buying or selling of our shares as that is not an option. So what's your point?
Once again, FFGO held S T O C K just as anyone holds stock, of course Searchlight owned the assets however FFGO held STOCK in those assets.
That is what was sold to NMGL.... S T O C K!!!!.. and only STOCK. Now WHALA'...NMGL owns those shares of STOCK, (that FFGO once owned), and signed a written contract, to provide shareholders of the old FFGO, A's and B's stock of NMGL as a win up dividend, per that contractual agreement.
Not fixed assets but liquid "STOCK" PERIOD! Why is that sooooo hard to understand??
AlanC,right on, and in addition, not only were the long buyers stopped, those that generated shares were also locked in with no where to go!
The company gave free reign to anyone wanting to try out the system of stock generation, when the authorized was increased to 5 trillion.
You would think that savvy investors would have seen the writing on the wall, but seems that greed took over rational thinking, as the company no doubt knew they would.
Seems to me, a very well thought out plan, including the lack of correspondence to SEC, causing them (SEC) to lock the trap door by revoking registration of their shares. Leaving a public unregistered for trading company as we maintain today.
Once the door was locked, now the company PTB can follow their Plan Of Operation (POO) at their own pace. Causing those stock generators much concern of what next.
When the timing is right the dividend will be released, and justice will be served.
As long as the amount of stock sold, against the amount of stock issued by the company, can not be reconciled, and the company does not file BK.
FFGO is not going anywhere, will remain a thorn in the side of those that caused the discrepancy in issued shares vs sold shares. Right now it is all just in the timing of when corrective final action will be taken.
I see you still have all that encouraging chatter.lol
The truth is>>>>
"
1. FFGO never owned any "MINING PROPERTY
2. FFGO never owned or filed for any "MINING CLAIMES"
3. FFGO never owned or purchased any "MINERAL RIGHTS"
4. FFGO always owned "SHARES" in two mining operations
5. FFGO did not hold enough "SHARES" to have controlling interest in ether, only 23% of one and 46% of the other.
6.FFGO sold those "SHARES" to NMGL for a predetermined amount.
7.FFGO agreed to take payment in NMGL A/B preferred "SHARES"
8. FFGO sold and wound down the assets "SHARES" to be sold and proceeds be granted to FFGO SHAREHOLDERS.
9. Payment to be made by NMGL as a dividend to FFGO shareholders.
Just in case you missed it S...H...A...R...S SHARES! SHARES! Only SHARES! Never NO mineral rights, mining claimers, mining property just SHARES!
So before FFGO went as you said "DEAD" they made a will for the existing SHAREHOLDERS of FFGO.
So now we wait, not for FFGO, but for NMGL to dispense the conditions of that WILL.
Seven, great posting today spot on thank you.
Misconceptions, in what regard?
Everyone of us had a hand in all this and aided the brokers, hedge funds, bankers, market makers etc. in their quest to rob us blind and destroy companies that we invested our money into.
-Everyone of us allowed the brokers to take our money and we accepted the rational, that it was ok, to take our shares and put them in his broker street name, in turn make an electronic entry into our accounts, that we owned X number of shares.
Problem as this continued, the entries into accounts greatly exceeded the number of shares issued by these companies.
Thereby causing the liquidly to be exacerbated, the supply against demand normal scenario lost it's meaning.
So companies did such things as R/S to try to keep a handle on the outstanding shares, which turned out to be a effort in futility as all it did was to exacerbate the problem causing more and more shorting against shares that never existed.
We all purchased what they didn't have, and accepted the brokers word that we had shares somewhere, however' anyone trying to obtain those shares, were in for a rude wake up call.
We as so-called shareholders, are the people that unwittingly made the snow ball that was rolled down the hill to become all empowering disaster.
So tell me where is the "misconception?"
Investors lost their anticipated investment, companies found it impossible to maintain the outstanding shares to be in line with those that were actually issued, while those that caused the problem, had rules manipulated to justify their lucrative actions.
That's ok, my ticket just keeps getting more valuable with age.
I don't seem to be anywhere near as concerned as those that scalped tickets they didn't own,lol
If plays out as it should, those that caused the problem of NSS may be in line for treble damages, possibly F&P (fines & penalties) to boot. It will be interesting to watch from our front row seat, we have the tickets, ready for the show to begin.
Hi 7/10/11, I am waiting for the second coming of "Gertrude" lol, she lit the last candle here.
I think when the recorded NSS hits the fan, we will see all the past high rolling players come from the wood work and everywhere else.
The encouraging factor will be the scramble of those that did the dastardly deed, to cover their back sides when the dividend is finally issued. All rollers will be in line for their slice of this very lucrative pie.
Yes, and that is why there are contracts initiated between those that the original BLM claimant and any partners or JV's (Joint Venture) or others, to insure that all BLM conditions are complied with.
However getting back to why Searchlite is the only entity showing on the BLM documents, can you imagine if every partner, JV or contractor, subleasee,or whatever, be it one or one million, were all listed on the BLM docs would be ludicrous to imagine and impossiable to maintain.
Why I posted the reason as to why NMGL or any other sub entity is not listed as BLM claimants.
My point being that there could be a vas amount of vested interest from many without being listed as BLM claim owner.
Also all mining operations are not all necessarily claims, in other words all claims have mineral rights, but all mineral rights are not always from claims.
That is not true, mineral rights can be sold or transferred to cover partnerships or joint ventures or any other contractual commitment, this happens all the time.
All those people are not necessarily on the claim documents issued by the BLM. But the person that initiated the original claim will always be on it unless he abandons and/or yearly fees are not paid and BLM puts in back in their pool .
The claim belongs to the claimants, the mineral rights are his to do what he wants with.
I'm a little late on this, I just read your post.
All I can say is here we go again. (Claims vs Mineral rights)
It matters not, who's name is on BLM documents that claimed the original claims, as that name could be on the BLM records for generations, until the claims/mineral rights revert back to the BLM and are reclaimed.(goes back into the claims available pool in the BLM office)
What does matter, is who holds the "MINERAL RIGHTS" on those claims, the mineral right can be transferred by contracts over and over, and the original claimers will always show on BLM records. Until all mineral rights on claims are abandoned, That is not about to happen here at this time.
Searchlite has no doubt sold all or part their mineral rights to the acreage that they claimed, no need to have anyone reclaim, it is all contractual at this point (a transfer of mineral rights for value received).
Hunter, stay tuned many lessons to be forth coming, some will be amazed!
You make some excellent points and is why the company (FFGO) will not file BK and will be a thorn in the side of those miscreants until a solution is agreed too. A 5 Trillion A/S was just too good to pass up, now they can pay a little now or a whole bunch later.
Searchlight could have very well been the original claiment on the BLM maps, however when Searchlight sold shares in their company the ball game changed and their % of ownership, decreased by the % amount of shares sold.
Now if as stated, that NMGL now has 100% of the searchlight shares, then that means that searchlight has SOLD all their rights, what is on the BLM books dose not reflect the true owners.
Those brokers that took our money without delivery, laughed all the way to the bank, now find they are in the middle of a night mare. Those pesky shareholders are on their trail and will not be shakened off.
Now that's the news I have been waiting to hear, thank you!
So you are saying that searchlight is holding the stock that FFGO had in their (searchlight) company? Makes no sence.
When will people finally understand that the only asset FFGO ever had, was in the form of "STOCK" in searchlight for their holdings in Copperstone and Bouse, the asset sold to NMGL were "shares of stock" not mining claims, or real property, but STOCK!!!!!!!
With 46% shares in one company and 23% in the other.
"/quote]The assets are still in the hands of Searchlight. That is where they have always been. At least what is left of them anyway.
oldben, I don't know that NMGL ever owned any gold mines or mining claims or any property. I do know that FFGO never owned any of the above as assets (gold mines, mining claims or real property).
I also know that FFGO had STOCK in Copperstone and Bouse mining operations, no different than stock held by many here,(with the execption that we received IOU'S, while they received stock certs) I doubt very much that you would ever find tracking numbers for STOCK sold while looking under the other headers.
oldkoreanwarvet AKA bobbybdb
TS, Not true, revoked registration to trade, nothing to do with a winding down company transferring assets to shareholders, which is the case here.
I have known that from the beginning, because FFGO "SOLD" their holdings of STOCK in C&B to NMGL, and NMGL will pay,(or already has) for those shares in the dividend to us.
The F&P for fFGO is coming from the miscreants, when the cheese was sooo sweet that they just could not leave it alone,now the piper is to be paid. I do not expect it will be classified as a dividend,but as F&P or for little higher cost, broker margin calls.
Least we forget the brokers have all those pesky promissory notes lou's or however they are tagged.
And no one is dumb enough to let him off the hook until someone pays up.
Wrong once again, the company registration to "TRADE" shares on the public market was revoked, NOT the operations of the company.
You don't need to have your stock registered to run normal coperate operations i.e. paying dividends
Ok you want it straight, no the company did not have GOLD in the ground, they held SHARES in a company that had GOLD in the ground. FFGO was a "SHAREHOLDER" not a mining or research and developing co.SOOOOOOOOOOOOOOOOOO many cannot get that straight, for whatever reason.
They sold their "stock holdings percentages" to NMGL, which in turn is said to have issued the required shares to a subsidiary cover the proposed dividend.
As a Copperstone & Bousi "shareholder", FFGO had as much gold in the ground, as the rest of us FFGO shareholders.
AlanC sure would be GREAT to get a copy of the FINRA finding. to squelch the brokers comment of "we are investigating it".
Yes I know there is no difference in the company's cusip, what I was thinking, used for in house tracking, as we know the shares in broker name and he may use that F009417 to keep retirement accounts separated from regular accounts?
That is giving the brokers the benefit of the doubt, however not to say you are not 100% correct, that they are using as you say, "avoid short interest reporting" could very well be, it would be great to get feed back from those that have this #F009417 in their accounts.
Yes that is very strange, unless they are using it as a code to define retirement accounts vs regular accounts?
The SEC gives companies the option of a court trial, or revoke of the registration of their stock, the company made the choice of taking the revoke option,(by not responding) AS WAS PLANED from the offset, a great follow up on the results of the A/S listed as 5 trillion with the SOS.
Do not forget the only real CASH money that ever changed hands, was what the shareholders paid the BROKERS, all else is nothing but electronic generation or paper shuffling.
Brokers still have our money period.
Wow puppy pretty impressive stuff you got there lol.
However you know what' I couldn't care less, all I know is a trap was placed and sprung, therefore all the remittance of a classical sting, and in a sting they not only lay traps, but continually sweeten the cheese.
Yes like you say, "they knew they were going to be revoked", not only did they know they "PLANED" on it.
I see everything resulting as orchestrated, a very clever plan of operation imo.
But with all that said my only concern is that I get my money out of the brokers pocket with a ton of interest and F&P.
This is not the first sting I have seen, the one thing about the workings of that type of operation, you can't believe all that they tell you, until the final trap is put away. Maybe you shouldn't believe all that stuff?
seven, I would hope that all shareholders are now apprised of the brokers antics and all are much wiser now.