Posted by: TAKI Date: Monday, July 21, 2008 8:45:41 PM
In reply to: None Post # of 1158
FFGO.000x.0001.I like the news bigly today.NET ASSET VALUE PER SHARE IS .0153.YET THE STOCK TRADES AT.0001.SOON I THINK THAT WILL CHANGE.AS THEY KEEP BUYING BACK MORE SHARES THE .0001 WILL BE HARD TO GET BUY FILLS,IMO,THEN BAMMMMMMMMMM SHE WILL GO IMO.LOOKING FOR .0005 TO .001 RANGE.WILL SEE WHEN IT COMES.
Stock is dirt cheap imo.Fair value for now should be .001.Imo.
The Company repurchased an additional amount of 1,986,388,992 shares of its "free trading" stock at a price of US$0.0001 per share on July 16, 2008, July 17, 2008 and on July 18, 2008. The Company will be instructing its Transfer Agent to cancel these shares of its Common Stock. This represents a further 5.63% reduction in the Company's shares of its outstanding Common Stock. These repurchases were settled in cash.
The Company's outstanding shares of Common Stock as at July 21, 2008 are now in the amount of 33,295,377,817. The Company had as at July 21, 2008, reduced its outstanding shares of Common Stock by an amount of 43.8% in the last month.
The Company will continue to repurchase "free trading" shares of its Common Stock today, being July 21, 2008 and will continue to do so, thereafter.
The Company's Net Asset Value per share as July 21, 2008 is now in the amount of 1.53c per share of the Company's Common Stock. The trading price of the Company's stock as at July 18, 2008 was in the amount of US$0.0001 per share. The value of the Company's stockholding in St James Capital Holdings, Inc. and the Company's intangible assets have been excluded from this calculation.
The Company is in discussions with a large number of interested parties to dispose of its indirect stockholdings in Hunt Gold Corporation for cash; and in the amount of 483,750,099 shares of its stock; and at a price of no less than 2c per share. This will value this stockholding in the amount of US$9,675,002. The Company has however used Hunt Gold Corporation's trading price as at July 18, 2008, being US$0.0055 per share, in respect of its Net Asset Value per Share Calculation.
The Company directly owns an additional amount of 1,363,588,873 restricted shares of Hunt Gold Corporation Common Stock. At its closing price on July 18, 2008 of US$0.0055 per share, this holding is worth an additional US$7,499,738.
The Hunt Gold Corporation stockholding owned by the Company is currently worth as much as five time times the Company's Market Capitalization as at July 21, 2008.
The "break up" value of the Company, as at July 21, 2008 is now at least 152 times its current market price.
The Company intends to continue its buyback of its shares of Common Stock; and remains extremely committed to a vastly reduced number of its outstanding shares of Common Stock and a considerably diminished "free float."
The Company is filing a very detailed Form 8-K with the SEC on Monday July 21, 2008 in respect of the share buybacks on July 16, 2008, July 17, 2008 and on July 18, 2008; as well as setting out a very detailed explanation of its calculations in respect of its Net Asset per Share.
AI
