Replies to post #62572 on First Liberty Power (fka FLPC)

[jotuk6771]

JJ, in this specific scenario , there was 2 solutions :

Don and Jimmy are financing the whole operations alone with their private company (G8MI) and if they succeed , they divide $$$$$$$ by two .

If failed , they close the doors and are only responsible till the Legal Capital .

The second solution : Don and Jimmy are going PUBLIC , then they transfert their private assets ( Group8 , which own 50% in Stockpile Reserves , which owns the mineral rights at Fencemaker ) to FLPC . If you transfert your private assets to a public company , you are no longer own them privately , hence the 83M shares and $100K for compensation . ( note the 83M shares haven't ever been sold ...)

Now they can raise Public funds , trough Toxic Financing as without Hard asset in hand , this is the only way to raise working Capital for an OTC stock ...

The funds raised are transferred to Group8 which is managing to pay the at least 50% of the Stockpile Reserves cost to reopen the mine ( enhancements - Security - NDEP approval and hard mining operations)

If succeed . They divide $$$$$$ by 5700

If failed , assets are gone with 83M worthless shares ...
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