Try to get your head around this one. I do my own accounts for ny business every year, but I am trying to work out HOW on Earth FLPC's earlier accounts arrived at the Figs below. Even if the BoD bought Millions of shares, however many were available at the time, then put it down as a 'company loss', this may account for some of it, or even took out a loan under Stockpile Reserves (The Sister company), and somehow shifted the liability back to FLPC in a 'loss format', it seems very weird?
cash: $28 thousand
current assets: $155 thousand
current liabilities: $1.3 million
no revenue since inception
quarterly net loss: $391 thousand
$391 THOUSAND, that's DOUBLE their current assets and cash in hand combined for that quarter. So, RJB, if we go way back to when they had the noted $2.6M Funding that vanished, has FLPC or at least ONE Director go an affiliated Business that nobody knows about, whereby the $2.6M Funding went in to as a separate interest that is somehow linked to FLPC. For ONE Business Quarter, how can a tiddly little tin-pot Mining company rack up a loss of this Magnitude?
I think this is something the Shareholders need to clarify with the BoD as it just doesn't add up. How this stands with a previous quarter, I don't know, but whatever it is, this makes no sense at all. Whilst it's little old, it's still very relevant. Nothing's been purchased for $183,000, the sum total of assets and cash as Security, so if it's a HUGE business expense, what have they done?
Crazy!!
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