BB's Stock Haven

[flemsnopes]

Don't forget to monitor FPFX as the court ordered shareholder meeting and BOD election approaches - November 16, 2005. The story of this former high flying mortgage lender makes good reading and I would encourage everyone to read the recent SEC proxy filings at pinksheets.com as well as some of my former posts here on investorshub. (See my profile - flemsnopes - for posts on fpfx. Here is just one of my posts:

FPFX may be a near term opportunity as it approaches a very unusual event. The court ordered shareholder meeting in Reno, Nevada on November 16, 2005 ( See SEC filings for fpfx at pinksheets.com) may be one of the few times shareholders have been able to force a company's management and directors to live up to their obligations to the owners of the company. The story is one all small investors should follow closely. With millions of dollars, a low float and an important principle at stake, you don't want to miss this.
The story started in the late nineties when the major operating subsidiary of the company (fpfi) went into bankruptcy due to changes in the regulations about the way their loans had to be securitized. The parent company, Firstplus Financial Group (fpfx) did NOT file bankruptcy and managed to get an unsecured claim against the former subsidiary for 50 million dollars! (with approximately 45 million shares outstanding and a current price of 0.15 you can see there is significant potential) The subsequent maneuvering by fpfx reads like a cheap novel,but the most important part is that the claim will be paid in part or in full and that is a verifiable fact. Now a group of shareholders, who may hold a majority of the outstanding shares, is attempting get control of fpfx at a court ordered shareholders meeting in Reno, Nevada on November 16, 2005. You can read the recent SEC filings by fpfx on the "pink sheets" website for details. The trustee for the bankrupt subsidiary (fpfi) already has over 7 million dollars of the 50 million dollar unsecured claim ready to transfer to fpfx when certain issues about just who is in charge are resolved. You certainly don't want to miss this one. Go to the fpfx board on Raging Bull and read some of the older posts for intriguing details. Any skeptics can go to www.fpficreditorstrust.com and look at the most recent distributions (bottom of the page)to the class 4 unsecured creditors. You will see the FirstPlus Financial Group allowed claim is there and waiting to be distributed. You may also want to go to the company website at www.firstplusgroup.com for the company side of the issues. If nothing else, you will enjoy the read