Replies to post #191568 on Fortress Financial Group fka FFGO

[J T]

edit-13:06 FFGO Fortress Financial Group, Inc. Common Stock 12/7/2011 100 12(j) Registration Revoked by SEC

http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=ALL&d=12/07/2011

[layton]

Thank you for the information.

[alien42]

nice, more confirmation of the facts.

71011, care to comment on this?

[J T]

I think FedUpToHere's post SHOULD BE STICKIED

[SevenTenEleven]

Might want to ask this same person if a liquidation dividend, which is what is planned, makes a difference. Also, make sure they are aware that the Statutes in Wyoming support a liquidation dividend being distributed.

Good Luck!

[newtrader2007]

Q. Can a stock that has been revoked by the SEC, in this particular case a stock under the symbol FFGO, be approved by FINRA to do corporate actions through FINRA; and in particular, issue dividends on the revoked stock?

A. Was the stock revoked under 12(j)? If the stock was revoked through a 12(j) action, the company can not issue a dividend through FINRA.

Q. How would the stock, and in particular FFGO, get back in good graces with FINRA in order to be able to issue a dividend/

A. They would have to go through the 211 process.

So -- was FFGO revoked under 12(j)?

FedUpToHere

Thank You for that piece of information. I do think puppy and several posters have been right from the start of this discussion. But you and I both know this will not change the minds of the Dream Team concerning the Divi being paid by a revoked POS stock. Notice who and how few are supporting this fantisy divi as of today. They have been ripped off by one of the best scammers in the business of pinks and penny they have made millions. Yes I am speaking of Lumb and Crew. His support here has dwindled to almost nothing. Many have seen the light, but a few will never change opinion regardless of facts that may be presented. Thanks Again!

Newtrader

[SevenTenEleven]

Investors do need to do their own DD. Which I am currently doing. The big question to FINRA's Corporate actions is in regards to a liquidation dividend for a company that is in the process of, or planning on, being dissolved. Not a common dividend.

Wyoming Statutes govern what a company can and can't do. When that company is incorporated in Wyoming as FFGO is.

They have a very simple section governing dissolving of a company and distribution of its assets to shareholders.

Tic Toc

the emails are worthless .. from unknown aliases

investors need to do their own DD

but go ahead and post all the emails you like - puppydotcom

This is what Melissa at FINRA Opeations just told me as of 12:17 PM MST in regard to this --

Q. Can a stock that has been revoked by the SEC, in this particular case a stock under the symbol FFGO, be approved by FINRA to do corporate actions through FINRA; and in particular, issue dividends on the revoked stock?

A. Was the stock revoked under 12(j)? If the stock was revoked through a 12(j) action, the company can not issue a dividend through FINRA.

Q. How would the stock, and in particular FFGO, get back in good graces with FINRA in order to be able to issue a dividend/

A. They would have to go through the 211 process.

So -- was FFGO revoked under 12(j)?

FINRA- Corporate Actions
9509 Key West Avenue
Rockville, MD 20850
Operations: 866.776.0800
Fax : [phone]
[e-mail] - FedUpToHere

[FedUpToHere]

Re: Liquidation Dividend for FFGO

For those who are taking the line that it makes a difference to FINRA on whether they allow a dividend to be paid on revoked stock because it is a liquidation dividend and not a common dividend,. and that they (they being FINRA) will allow this based upon Wyoming Statue, my response is that folks are making the assumption that the company dissolving, in this case FFGO, is in good standing within its state of incorporation and that its stock has not been revoked. As we all know, this is not the case. FINRA does not care what kind of dividend it is, and FINRA is not going to allow one type of dividend while denying another type.

The two Wyoming Statues for dissolution that we are concerned with here are 17-16-1402. Dissolution by board of directors and shareholders; and 17-16-1403. Articles of dissolution. Basically, what has to happen is that the Board of Directors calls a Shareholder Meeting and calls upon the Shareholders to authorize dissolution. Then, if approved by the shareholders, Articles of Dissolution are presented to the State of Wyoming SOS and the winding down of corporate affairs begins as outlined in Wyoming Statue 17-16-1405. Effect of dissolution.

Keep in mind, this is applicable only if the company properly dissolves and liquidates itself. Most companies do not.

Each of you will have to make your own judgment on whether the company known as FFGO is going to go through the process properly or not. In my years of working with corporations and acting as a RA, out of some 587 corps, I have first-hand knowledge of exactly 11 of them properly doing a dissolution. My experience shows me that corporations just die on the vine, simply evaporating without proper dissolution.

Wyoming is not going to force an orderly dissolution of FFGO. FFGO will have to come current with Wyoming before it can even begin the dissolution process, and I will say it again -- FINRA is not going to allow a liquidation dividend based upon Wyoming Statue, and they certainly are not going to allow a liquidation dividend from a company that has no legal standing in its state of incorporation, let alone having been revoked. Despite what some folks may think, Wyoming can not (nor do they intend to or want to) impose its will upon FINRA for the sake of a defunct companies shareholders.

I am not going to sit here and go back and forth with anyone about this - to do so becomes nothing more than a vicious circle with no beginning and no ending. I've had several PM's from what I assume are board members asking me for further information on my conversation with FINRA about FFGO. There is nothing further I can add to what I posted. I provided the FINRA contact information for anyone who wanted to pick up the phone and make their own call, I suggest those wanting more info do so, and I repeat the contact info for those who wish to.

FINRA- Corporate Actions
9509 Key West Avenue
Rockville, MD 20850
Operations: 866.776.0800
Fax : [phone]
[e-mail]

This post is my opinion based upon my experiences and my own DD and is not intended to provide any legal or professional advice. You have a cell phone, pick it up and do your own DD.