Just a thought . . . if a dividend is going to be paid, my assumption is that once the deal closes, FFGO shares will be canceled as it will no longer be a company. If I was the owner of said company, wouldn't I (or thru some other form of "stock agent") attempt to accumulate as many shares as possible, therefore either theoretically paying myself or "not" paying additional dividends for additional available shares??
Also, what's in a shareholder register audit?? I wonder if there will be a back dating ex-date for the dividends?? No offense to those doing it, but you would think some of the newer security holders may get left out or heavily discounted dividends. Notice in the statement "large expenses to prepare for dividends". Even if the company is sold at .003 par value, it's likely a huge chunk of expenses and other payments will come out of the final dividend, to include owed dividends from 2005. I'm thinking realistically, a dividend somewhere between .0005-.0010 per share is what we'll get, assuming we get anything at all.
And lastly, it doesn't surprise me the PPS isn't moving, why would it?? This stock will no longer trade once the deal closes, and as long as O/S are high, there's nothing that will move it, or have a need to move it. I'm sure the MM's, etc. are more behind the bid/volume chaos than the company. To me, that just means the end is near, whether good or bad. LOL
I've never posted here so hopefully I made my first post count. ;) Though, I've had an account for quite a while and am familiar with "the scene". I do actually hold in the neighborhood of 40mm FFGO shares purchased over the last 15+ months. Trading with emotion will screw you 9 out of 10 times, so whatever happens will happen. I've lost and profited more than this stock will or won't, so it's just another day at the office. But some of you are hilarious.
L8R,
J.W.
Fortress Financial Group, Inc. -- Highlights Progress Toward Sale
12:34p ET May 5, 2010 (Market Wire)
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) has been working diligently and has made significant progress toward the finalization of sale of its gold interests. In press releases during April of 2010, the company announced several steps that it has taken toward meeting this objective.
In earlier announcements the company detailed the completion of its shareholder register audits, the re-filing and re-instatement of the Bouse Gold, Inc. and South Copperstone, Inc. and the settlement of the majority of outstanding loan notes. These steps have all been accomplished and are the necessary precedents to the completion of the sale transactions. Moreover the company has incurred large expenses to prepare for the dividend distributions that will commence immediately upon conclusion of the transactions as the Company is distributing the sale proceeds, in full, to its stockholders.
The final steps to the completion of the sale and subsequent issuance of shareholder dividends now remaining are few. Fortress Financial Group, Inc. is currently working toward completion of the Bouse Gold, Inc. and the South Copperstone, Inc. audits. This step is essential as the company acquiring the assets is a publically reporting company.
Once these audits are completed, the acquiring company can finalize the purchase and the subsequent merge-in of the audited accounting, the sale will then be completed. The Company confirms that it will announce the sale simultaneously with the acquiring company; it is unlikely that the Company will need to provide any further notice to stockholders.
