Full Alliance Group Inc. (FAGI)

[Spifster]

I am wondering if we as shareholders have any sort of grievance against the board and Palm Desert Management for breach of fiduciary duties.

I was looking at the past reports to get a feel for the date of the next one(they have consistently released on 3/31). I was looking over the debt section and wanted to cry.

The note payable originally for $335k has the convertible feature for the principle portion at a rate of $.0025 per share. As of the last report there has been 38.5 Million share converted on this debt. Guess how much principle has been reduced? $92k. That's right the balance was $243K on the last report. That's about 472% interest. Talk about usury.

Let me know if I am understanding/calculating this wrong.

Then there is the Related party payable where Palm Desert pays for the operating expenses and the terms of the shareholder loan have the same conversion rate for principle.

Jacob Thomas and Gene O'Brien, Can I pay some operating expenses please?