Replies to post #185466 on Fortress Financial Group fka FFGO

[Texan77]

i think its the fact that its at the sole descretion of nmgl board weather or not we get the 3% thats hanging him up but what you say could very well happen if nmgl board so decides, you know. I see it as just one more redundant system to keep the barrel squarly aimed at shortys medulla.

[OldBen]

FFGO - 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, 2011 at a cash redemption price equal to the liquidation preference."

NMGL made an agreement with FFGO pursuant to the mines, not necessarily, FFGO shareholders wanting a dividend. FFGO the company will receive (and have received) NMGL A&B's. FFGO shareholders may not receive (and have NOT received) NMGL A&B's. This non-cumulative dividend preference obviously did not kick in until Aug 12,2011?? or January 1,2012?? On January 1,2011 you could only receive a redemption price equal to the liquidation preference. Any day before Aug 12 or January 1 and you get nothing. So, EARNING a "dividend preference" is a one-day one-time event? Being non-cumulative is that discounting 364 of 365 days??

Really, this is an exercise in futility. We are not FFGO. We do not have NMGL A&B's like FFGO does. There was only an agreement with FFGO not FFGO shareholders. We may or may not eventually get NMGL A&B's. Since I don't have NMGL A&B's and I have no written agreement or contract or press release... I lean towards not getting NMGL A&B's.