MY FFFC TRIP 7/23/2013 REPORT:
Ok, first I would like to start off by saying for those of you that don't know, Mr Fong is well aware of IHUB and the various other message boards and I'm quite sure he reads the posts from time to time.
I got into West Palm Beach around noon yesterday and had some difficulty finding the building thanks to my phone's gps program. Made it to the building which is right smack in the middle of downtown.. a few office buildings and some nice restaurants around there. The building itself is also pretty decent. All offices. First thing I did when entering the building was try to locate the directory. I had a feeling that Fast Funds Financial Corp would not be listed for suite 400 and I was right. Instead, it reads ALUMI FUEL POWER..hmmmm..ok, (I have pictures of that if anyone wants to see) so I take the elevator up to the 4th floor and the door reads another name..I think it said venture something..can't quite remember. So I knock on the door and no one answers. I then open it to find a receptionist area with no receptionist but I can hear someone in one of the two rear offices talking on the phone. I peer in further to see the top of a man's head with the back of his chair facing me..so I said Hello and as he turned his chair around, I knew right away that it was Mr Fong. I took notice of the many papers and folders all over his desk and the floor but found it very peculiar there was no desktop computer of any sort. After I introduced myself and told him who I was, an investor, he seemed a bit startled and nervous. I explained to him that I called several weeks ago and left a message but never received a call back. Anyway, to get to the meat of the conversation, I ASKED Mr Fong about all these tweets that were being posted by Net Life and especially the 4th of July tweet and he said he really had no control over those tweets which is understandable. What was really troublesome is that he said the person who was running Net Life may of prematurely post that tweet in anticipation of something happening but it didn't. We talked about the credit swaps, the Net Life ideas as far as what they are looking to accomplish with the housing sector, Mr Fong's credentials as a CPA and prior businesses such as a bicycle company he ran but my true sense of Net Life's business foundation just felt like it was someone's dream idea that is flying by the seat of it's pant. I just didn't feel confident enough from what I was hearing and maybe someone else would have gotten a different impression from talking to him but for me, it just didn't feel 100%. There are no 50 dedicated offices covering the United States so let me make that clear to everyone now. I highly doubt there is even any task force as the July 22nd tweet indicate but that's just my gut feeling. Mr Fong explained that Net Life's idea is to outsource the LCMO/LCDO plan to different mortgage businesses so that the program could get exposure. I mentioned to Mr Fong that I was fully aware there was only so much publicly known information that he could divulge to me and he appreciated the fact that I did not press him to tell me anything more than to clarify the tweets. He did say there were plans in place and more events to come in the next 2 months. I don't know if that meant the next PR would be in 2 months and I didn't bother to ask. As a person, Mr Fong seemed like a really nice guy and he gave me his personal cell number if I ever want to get a hold of him in the future and CONFIRM a scheduled meeting...haha. What I took away from this is that Net Life is not as concrete as I would hope it would be and I may just have to sit on the sidelines until they can prove more credentials. If anyone wants to discuss my meeting with Mr Fong in more depth, send me your email.
Good Luck to all,
BillyRay
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