Replies to post #169050 on Fortress Financial Group fka FFGO

[SevenTenEleven]

SevenTenEleven I do hope you are right that this may be FFGOs year. I guess TIC TOC as you say will tell us all in time. Certainly hasn't happened in past few years. You also state our .0001 investment is earning Interest as we wait. Could you please explain that point? I have found nowhere is earning interest on our investments in FFGO!!! If as you post it is! I am sure you will show me.

Newtrader

Oh Yea! My 1 post per day I am allowed here. So hope people understand I may not reply - Newtrader2007

Here is the information you have requested and/or overlooked.

http://ih.advfn.com/p.php?pid=nmona&article=43991502

ITEM 1.01 ENTRY MATERIAL AGREEMENT

On August 12, 2010 the Company’s wholly owned subsidiary Western Diversified Mining Resources, Inc. (“Western”) entered into an agreement with North American Gold & Minerals Fund (“North American”) pursuant to which North American agreed to acquire Western’s 23.22% shareholding in Bouse Gold Inc. (“Bouse Gold”) and Western’s 46.84% shareholding in South Copperstone Inc. (“South Copperstone”) for North American preferred stock valued at US$258,073,107, or US $0.003449 per share of the Company’s issued and outstanding common stock. The North American Series A Preferred Stock that will be issued under the Agreement has liquidation and dividend preferences that apply to future distributions from Bouse Gold, Inc.; the Series B Preferred Stock has liquidation and dividend preferences that apply to future distributions from South Copperstone, Inc.. The valuation of US$258,073,107 is based on the liquidation preference of the preferred stock, which is US$16.00 per share for the Series A Preferred Stock and US$2.20 per share for the Series B Preferred Stock. The annual non-cumulative dividend preference for both Series A and Series B Preferred Stock is 3% of the respective liquidation preference. Both the Series A and Series B Preferred Stock may be redeemed by the North American Gold & Minerals Fund at any time after January 1, 2011at a cash redemption price equal to the liquidation preference.

Per the company's FAQ's statements:

http://www.fortfinancegroup.com/faq.html

In respect of the 3% annual dividend, what is the mechanism that triggers this event?

NMGL cannot pay a dividend to its own stockholders of its common stock from any profits derived from either Bouse Gold, Inc. or from South Copperstone, Inc. until the 3% dividend for that year has first been paid to the holders of the NMGL Preferred Series “A” and Series “B” shares.

The NMGL Board of Directors would presumably declare the dividend for a fiscal year once the earnings for that year, if any, were calculated and audited. So it would be payable annually, if this was ever to apply. We have absolutely no guidance from NMGL whatsoever in this respect.


So Newtrader2007, remember to calculate that 3% annual dividend is based upon the value of $0.003449/common share of FFGO. Not the current $0.0001. If you bought shares of FFGO at $0.0001, that 3% would actually equate to an annual return of over 100% (103.47%).

Tic Toc

[SevenTenEleven]

newtrader2007, I wanted to make sure your question regarding the 3% annual interest was addressed. But I have not heard back from you confirming you now understand the 3% interest we are currently earning on our Preferred Series A & B shares. Silence is often telling.

Remember, those shares are valued at $0.003449. That is what the 3% is being paid on. Not $0.0001. Here is the link to my response to you. Hope this clarifies this issue for you.

http://investorshub.advfn.com/boards/replies.aspx?msg=58316041

Tic Toc