Oops, I forgot the 2008 FFGO divi that wasn't paid. Of course the company stated they wouldn't make the same mistakes with this divi, unlike the 2005 divi, and everyone would be paid. LMAO Who is still expecting this one? Waiting forever for divi's from FFGO must be awesome. ----------------------------- Fortress Financial Group, Inc. -- Extraordinary Dividend Ticker Symbol: U:FFGO
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has resolved to distribute an amount of US$400 million of its Gold Assets to its Stockholders.
This Extraordinary Dividend equates to an amount of 1.24c per share of Common Stock based upon the outstanding shares of the Company's Stock at July 24, 2008.
The payout ratio may well be increased dependant upon the amount of additional stock repurchases by the Company. The Company is continuing to repurchase its shares of outstanding Common Stock.
The Company receives an amount of US$500 million in quoted Gold Mining stock ("Goldco") in exchange for its stockholding in the "Bouse" and "South Copperstone" Gold Mining & Exploration companies. This transaction will be consummated in August of 2008.
The Company does not require such a substantial capital base and will retain an amount of US$100 million in these quoted Goldco shares after the payment of this Extraordinary Dividend. These funds will be utilized to fund the Company's acquisitions.
The Company has experienced severe problems in the past with Stock Dividend payments and will ensure that all necessary steps are taken -- and way in advance of the "Record Date" of this Extraordinary Dividend -- to ensure that these problems do not reoccur.
Stockholders will be advised as to the "Record Date" and "Pay Date" of this Extraordinary Dividend, in due course.
Alan Santini, the CEO of Fortress Financial Group, Inc., commented, that he hoped that "This Extraordinary Dividend will go a long way to rewarding long standing stockholders who have watched their stock decrease in value over time. He added that the Company's capital requirements did not justify it maintaining such a large Capital Base and that is was only fair and just that this Extraordinary Dividend to paid to stockholders." Alan Santini added that he hoped that "This step will serve to deter those who have been, and continue to indulge in unethical and unlawful activities in respect of the trading of the Company's shares of Common Stock, thereby frustrating any increases in its trading price." ---------------------- What is so hard to understand is why anyone would think a promise of a divi from FFGO would be real? 2005 divi, still waiting 2011 divi, still waiting Hunt Gold 2009 divi, still waiting. How many more were there in this sister of SCAMS companies that rip off investors? Pathetic
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