I wanted to believe too. But like Likwit DD prevailed and the true story is unfolding. I still hold a few shares just in case my due diligence is wrong.
This all started in 2004 with a company called "Prime Rate Investors" PRRM. Here is a brief synopsis of PRRM
- CEO Richard Astrom - Main operating subsidiary was "Tampa Bay Mortgage Solutions" a hard money mortgage lender. - Did a 1 for 10 forward split. Planned on going OTC BB - Planned on providing audited financials. Reducing shares. - Loaned $1 million to an Arkansas Hotel complex in Pine Bluff. The company that owned the hotel was NHGP. Its CEO was Ed Hayter. - Hired "Windsor Capital" to help it acquire a NE hard money mortgage lender. - Finally Richard Astorm and PRRM went their separate ways. Astrom with Tampa Bay Mortgage and PRRM with a TV station they acquired. - Astrom eventually sold or transferred " Tampa Bay Mortgage" to NHGP. Ed Hayter is now owner of Tampa Bay Mortgage and the Pine Bluff Hotel.
The most damning DD is that PRRM did a Regdex 504 filing which is basically used to issue shares. Wien Securities handled the share issuance. Geuss who bought Wein?? Hudson securities did. Geuss what their listing symbol is?? Its HDSN our friends who are currently pounding the stock every day. HDSN has sold 275 mm shares of FGFC this year. Where do you think they are getting this stock.