IGKWXMAN: What you need to do is go back to the start of FLPC. It's very easy to see where your investments has all gone. Losses year on year... said it before. You need to look further than arms' length. Millions of Dollars...GONE! Where? Try, perhaps, Lifestyle.
If you do not believe this, explain how all the investsor's money, including yours, has vanished into the ether. Explain how anyone can afford to run grand properties, drive luxury cars and run a non-profit making company with NO money in the business Bank account including debt that couldn't even pay for computer connections or even take ages to renew the Licence, (recently paid for). Explain the reason why the BoD are trying to 'self-fund'some areas of the business themselves?
Who is paying for the Restructure if it happens? You cannot run a failing business such as this (see the Share Price!)and continue living in the way they do. It does not concur unless per chance they are living off earlier income from other Private sources.
Maybe they screwed enough cash from PPA to keep things going, but what intrigues me and many investor's is how FLPC manages to keep going, unless they saved the money for a rainy day, if so where is it now?
I want to see those late filings but they won't submit them. Why not? Maybe their accountant was trying (like most a/c's do) is apply 'Creative Accountancy' to massage the figures in favour of the businesses 'Tax' Burden. Governments do it!
How will those who have invested thousands of Dollars here be able to see where their investments have ended up? There's not enough Public Info' available to be able to convince anyone the money has been spent on trying to achieve FLPC's 'goal' in being (even nearly) a successful, diverse Mining Company.
There has been NOTHING DONE to even TRY to gain Shareholder Value. Show me one thing apart from a glitzy Web Site and a few photo's, Texts full of What if's, that tells ALL Shareholder's what they have actually DONE in the last five years that points to any Mining whatsoever, and what areas the money has been spent. It doesn't exist, just like the Millions they had from you guys, and in the early days.
FLPC was started (Allegedly) as a ruse to raise cash with no intention of doing any physical Mining at all. There are no pointers to say that anything HAS happend, ie contracts, failed deals and so on. They said that it may not be successful, that's as honest as they could be. With that said,it was the choice of the Investor to assume it would work. I for one would never throw cash into a company which by their own admission may not work! If they had, the share chart would show significant gains and peaks, not a continuing downward trend which indicates to me that ZERO deals were arranged and no significant public notices were issued about any progress towards mining in any shape form or size.
All they say is that "we have a Mining Capability" or Lab 'Capability' to process X Y and Z. What they don't have is, the capability to explain why after all this time, it hasn't worked, but they won't tell you the exact reasons.
FILINGS PLEASE, the last two.
Essentially, all you guys have been sold a Bum Steer. All cash....drained! Just like PPA. I think Willy Voaden is out of a job soon as a Mining Consultant to FLPC because it appears from the fact that nothing's been done....EVER, he is superfluous to requirements! A consultant is no good unless they follow it up with a business plan and there isn't one.
Enjoy the rest of your day.
AI
