I especially like this part.
THE RELATIONSHIP BETWEEN THE COMPANY AND SLOANE INVESTMENTS, INC
Sloane Investments, Inc. filed a Schedule 13D on June 30, 2010 disclosing that it had acquired beneficial ownership and sole voting rights in respect of an amount of 17,645,966,686 shares of the Company’s Common Stock. This represents 23.59% of the Company’s outstanding shares of Common Stock. Sloane Investments, Inc. is now the Company’s largest single stockholder.
The Company has finalized terms to dispose its entire remaining assets, those being its shares of Bouse Gold, Inc. common stock and its shares of South Copperstone, Inc. common stock. The Company has undertaken that upon its receipt of the sales proceeds from these disposals, to pay out the entire sales proceeds (after settlement of the above-mentioned loans, fee and interest to Sloane Investments, Inc.) to its stockholders as an Extraordinary Dividend and at a “Record” and “Payment” Date to be determined.
Sloane Investments, Inc. is satisfied with (and is completely in agreement with) the terms and conditions of the form of purchase and sale agreement in respect of the Company’s disposal of its shares of Bouse Gold, Inc. common stock and its shares of South Copperstone, Inc. common stock.
The Company has demonstrated to Sloane Investments, Inc. its ability to execute and close upon the proposed purchase and sale agreement. The Company considers the time limits required by Sloane Investments, Inc. to be fair, reasonable and achievable.
The Company fully understands the implications of its breaching the above-mentioned agreements with Sloane Investments, Inc. which if breached, could result in Sloane Investments, Inc. taking action to exercise its legal and contractual remedies or to join in an involuntary petition for the Company’s bankruptcy.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Fortress Financial Group, Inc.
Date: July 21, 2010 By: /s/ Peter James Bezzano
President
