FWIW Just talked to Bob on the phone
I asked Bob about the subsidiary thing and he said it was done back in August, they made different divisions, one to focus on the new mill, but all 1st liberty. He said he "just had a long conversation with a man in Singapore" and that right now they are focused on revenue. They expect most revenue to come from Rose Creek and the mill; they have already been contacted by a couple of 3rd party companies about milling and hope to show revenues 2Q (this quarter, that began in November).
He also explained that they have no interest in an R/S- he himself gets paid 1/2 salary, 1/2 shares. The A/S increase was to keep the option for a preferred listing. "For example-if we do a preferred listing at $1.00, we have to reserve enough common stock" should they go back to say 100 common shares.... also on their convertible notes they're supposed to have 3x the shares reserved/on hand. Apparently he's owed some stock currently.
He re-iterated they're hoping for revs this quarter; their biggest problem is the cash flow problem, though now with Fencemaker not currently being mined it's much more reasonable. [Fencemaker was $25,000/wk to stay open because of the mining staff, etc] though they are hoping with revenues under their belt near term they'll be able to reopen that as an additional stream.
He's also looking forward to the stock appreciating. His lowest was 1/2 a penny and says that he and Don haven't sold anything.
