First Liberty Power (fka FLPC)

[CaveatEmperor]

BeWary: 2013: Ambiguity and failure to disclose information for the Shareholders. Cover up without a doubt. Ref. PINK Investing.

FLPC issued a new press-release back on Tuesday where they explained how they will finally manage to start operations in their mines, supposedly full of rare earth minerals. They say that they have allocated millions of dollars for the exploration process but we are not sure where they got the millions from. They are certainly not present in their latest financial statement covering the quarter that ended on October 31, 2012. Here's a recap of the financials:

cash: $28 thousand
current assets: $155 thousand
current liabilities: $1.3 million
*no revenue since inception*
quarterly net loss: $391 thousand

The only way they could have acquired the funding is by borrowing some money, but they are not willing to disclose how much money they obtained, what the terms of the notes are and other details that, we reckon, are rather important for the shareholders.

Witholding info. from shareholder's is UNDERHAND and UNFAIR considering the SHAREHOLDERS ARE PART OWNERS AND ENTITLED TO KNOW WHAT AFFECTS THE COMPANY THEY ARE INVESTED IN. FACT.