Since inception, FLPC hasn't really made a concerted effort to do any serious Mining. One or maybe two Detonation's, that's all. This justifies the Title 'Mining Company'. They have never had enough funds to carry it forward, you only have to look at the graph to see what's happened and lack of Market confidence.
These guys never intended to Mine properly. In the early days, they had several Million Dollars within the Investment which has been absorbed in 'running costs' of the business, then all of a sudden, they had $1.5M Debt. Where did a couple of Million Dollars go to. Well, they've done a grand job of bleeding the Investor's dry to achieve Toxic debt. Basically, they've run the company very similarly to the old company, PPA. Full of promises but no action, an RTO that never happened, just like the "Restructure" they are supposed to be doing for nearly three years. What exactly are they "Restructuring" that takes all this time? Nothing!!
How do you "Restructure" a Two-man company...swap chairs, Bob makes the Coffee instead of Don and they take it in turns cleaning the Jon. Easy! LOL. Solve the debt problem, get new accountants, write a few letters. I could do that inside 6 months, probably less. In fact, I DID restructure my own business to survive. I did this well within 3 months. Not hard if you can do figures and use Common sense based on Business Projection. The difference is that I have money coming in, they don't!
Even a complete fool should be able to see through this one and how they've planned it!
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