Maybe you can see a valuation problem here.
You should read the last 8k to see how they do math.
Now here are the following stats on Hunt Gold from pink sheets.
Estimated Market Cap
852,087,830 as of Jul 25, 2008
Outstanding Shares
293,823,389,782 as of Jun 20, 2008
Authorized Shares
300,000,000,000 as of Jun 13, 2008
Number of Share Holders of Record
984 as of Jun 13, 2008
Float
480,409,066 as of Jun 13, 2008
Notice the market cap says 852 million
The float is 480 million
The OS is 283 billion
Thus the float is .0016 of the outstanding shares.
Naturally if you were to dump even just a few billion into a 480 million float you would end up worthless.
However from the latest 8k for Fortress it states how they are computing the values. What you are dealing with as you can plainly see is the equivelent of junk math. The math only works as long as you can capture the value stated from the traded share price of the security. When the float is only a small fraction of 1% of the outstanding shares, the market price is totally irrevelent of a stock price of .0055.
Having disclosed the valuation methodology is a slanted market valuation and not asset based, what we have is the equivelent of phoney money.
Stand in line for your worthless divvy.
***************************************
NET ASSET VALUE PER SHARE AS AT JULY 21, 2008 :-
On July 23, 2008 the Company had a Net Asset Value per share of US$0.01575 (1.57c per share of Common Stock).
This was calculated as follows :-
An amount of 483,750,099 shares of Hunt Gold Corporation (HGLC.PK) Common Stock are held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company. The value of this holding is in the amount of US$2,660,625. This is calculated at the Hunt Gold Corporation's market price of US$0.0055 per share on July 23, 2008.
An amount of 1,363,588,873 restricted shares of Hunt Gold Corporation (HGLC.PK) Common Stock were held directly by the Company as at July 21, 2008. The value of this holding is in the amount of US$7,499,738. This is calculated at the Hunt Gold Corporation's market price of US$0.0055 per share on July 23, 2008.
As at June 30, 2008, an amount of 1,030,034,482 shares of Bouse Mining Holdings plc were held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company. As of June 13, 2008, the Company entered into a Heads of Agreement to dispose their entire shareholding in Bouse Mining Holdings plc; to an OTC Pink Sheets quoted Gold Mining & Exploration Company (hereinafter referred to as "Goldco"). This is to be settled through the issue of restricted Shares of Common Stock in Goldco.
Based upon the pricing per share, the Company's stockholding in Goldco, through the sale of its entire stockholding in Bouse Mining Holdings plc; will be valued in the amount of US$0.5825 per 1 (one) Ordinary Share of Bouse Mining Holdings plc.
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