You might find this comparison interesting:
There is another senario - is anyone familiar with AURC? They had a similar situation which was recently resolved. In Feb. 2007 they promised a 10% stock dividend which was held up due to their TA being investigated by the SEC & eventually stopped doing business. AURC did not have access to shareholder's information in order to proceed with 10% Dividend until Sept. 2007. They orginally had a pay date of Feb.24 ( Could be off on exact Feb. date ), the new cutoff date was Oct.1, 2007, with a pay date about a week later. Everyone expected Feb. 24 to be the cutoff date for 10% divi entitlement and all shares purchased after that would not get the divi, however everyone who bought shares between Feb. 25 & Oct. 1, 2007 received the dividens. Which means that those who purchased shares prior to Feb. 24 and sold before Oct.1 did not get their promised shares - many cried foul. The Brokerages said that since the 10% dividend was not paid at the time promised, all shares that traded between Feb. 25 & Oct. 1 carried the 10% dividend with the trade. If you wanted it, you should not have sold!!! AURC delayed the 10% dividend from a Friday to the following Monday and issued a Friday PR reiterating the fact that the dividend was to be paid to shareholders of record on Feb. 24. This did not happen, shareholders were told by AURC that they could not do anything about how the Brokerage Houses paid out the delivered shares; this was something they would have to work out with their broker. You already know what happened - sorry.
With this in mind, I believe that FFGO is trying to be fair to past shareholders and make sure that if you held shares on the pay dates and sold before now, that you will receive the dividens as promised. If they deliver the shares to your broker directly, whoever has shares now will receive the dividens, regardless of time frame.
For me, I will not be hurt and will greatly benefit since I was constantly buying more shares as the price was dropping, and now own
7X's the post 2000:1 reverse split which would equal more than 1.5 billion pre 2000:1 reverse split shares.
I won't cry on the way to the bank, however I believe in being fair, and the shareholders at the divi date stated in prior PRs should get the dividens. However, if your Broker is too lazy to assist FFGO with trying to make this happen and decides to give me your shares - I will say sorry, and thank you for your contribution to my retirement fund. So you better get busy with your Broker and forget crying to the SEC.
News 
Market Data 
Discover 
AI
