Replies to post #28830 on Fortress Financial Group fka FFGO

[stressfreeliving]

Thank you for your thoughts.

This makes sense to me now. Appreciate!

[Wayne R]

Yes but he stated that he would not use any of FFGO's finances to purchase shares of HGLC. So to make good on his statement he takes out a loan for 50mil using the exhisting HGLC shares as colateral so that FFGO in the event of a default on the loan is not responsible. I think that was a wise move IMO.

THAT.........

Makes no sense at all to me

Theoreticly current HGLC shares ARE part of FFGOs finances. Who, in their right mind, would give a $50 million no recourse loan against HGLC stock? I need a name. I got 200 stocks I want to get loans on with similar conditions.

[janice shell]

So to make good on his statement he takes out a loan for 50mil using the exhisting HGLC shares as colateral so that FFGO in the event of a default on the loan is not responsible.

Yep. I look in my crystal ball and I see a default. That way, Lumb will get all that stock for pretty much nothing.