Pitman33: This appears to what the BoD has been feeding everyone all along! If they hadn't, FLPC would probably be in a better position to what it is today. If only they had managed their funds properly, they wouldn't have the magnitude of losses they have to date.
So many questions; consider this: for the last year, the BoD have been dipping in to their own pockets to fund the running of the business. If a couple or three guys can afford to do this for 12 months and 'seem happy', how come for the last three years or so have the costs changed THAT much? One mine closed which = a 'saving', then accountancy, Office Rent, the Website would have been paid for, then their salaries, Misc Taxes. What about leasing costs for the existing Mines, but aside from that, there was no significant mining or production (apart from that 1000 Bags of or and the costs of the storage. I cannot see this lot running into Millions of Dollars, can you?
There are no contractors or transport costs to worry about, SO, it still begs the question how the millions of Dollars of investors money came to 'disappear'? If the BoD can afford to run the show themselves from their own funds, but the Millions has gone AND they have incurred HUGE losses, where did it go? The sums just don't add up, especially when we can't see the 'missing' filings to account for the spending. So is it a legal 'Scam' or not? If you think they have been feeding you all 'BS' for all this time, then it's a well orchestrated Scam!
The "Restructure", if it exists, is a hell of a long time coming, so is this BS as well? Nobody know's until details are released or it fails. IF per chance they say, "Sorry Lads, it failed", the chances are there was never one in the first place, at least, not they way it has been construed by their Shareholder's.
It's all a bit like the RTO in the PPA days when they had a fair amount of cash but 'failed to see' how much it would cost in legal fees which absorbed ALL bar 50K of the cash, much the same as FLPC has to date. That RTO was almost certainly engineered, except this time, it' a "Restructure" and so far, the scenario has very similar overtones, but NOTHING Illegal.
IKGW: No "slander", No Libel comments, no implications to theft, but straight forward questions that people would like answers to. That's fair.
