Replies to post #208128 on Fortress Financial Group fka FFGO

[RoadLessTraveled]

I am not the one concerned about what shareholders such as myself do with our investment. - SevenTenEleven

Oh no? Well, since you brought up the issue, what are these statements all about?

No reason to take 100% tax losses ahead of 3449% a cash liquidating dividend!

Sorry! Not interested in writing off my shares!

Why would a shareholder keep making those kind of comments out of the clear blue if it didn't show concern about investments? All I'm doing is responding to them since I'm most certainly not the one initiating them.

The Wyoming Statutes will allow for Blouse Gold, Inc. and South Copperstone Inc to be treated the same as FFGO. Dissolution of the corporations do not prevent the distribution of assets to shareholders. - SevenTenEleven

I completely agree. WY Statutes do allow an Administratively Dissolved corporation 2 years to wind up their business affairs including the liquidation of any real assets.

They also give such an Administratively Dissolved corporation 2 years to apply for reinstatement

17-16-1422. Reinstatement following administrative dissolution.

(a) An officer or other person with proper authority at the time a corporation was administratively dissolved under W.S. 17-16-1421 may apply to the secretary of state for reinstatement within two (2) years after the effective date of dissolution.

Failure to be reinstated within that 2 year time frame results in the corporation being permanently dissolved along with all its shares being nullified.

A call to WY SOS confirms that when that happens, the corporation's Status will change from Administratively Dissolved to Archived as the corporation ceases to exist as a legal USA entity...so look for it.

FACT.

It's not even expensive to get reinstated in WY which has some of the lowest corporate fees in the country. Well, not expensive unless a corporation actually has considerable assets:

How much will it cost to revive a Wyoming Corporation?

To revive your corporation in Wyoming depends on the reason for your involuntary dissolution.

There is a $50 reinstatement fee required for failure to file annual reports.

There is a $250 reinstatement fee required for failure to maintain a registered agent.

Any delinquent fees and taxes are also required to be paid as part of reinstatement.

Each missed annual report will cost $50 minimum unless you have more than $250,000 worth of assets.

After two years, you will have to start over as a new corporation.

Those of us know that NITE is the Hub of the counterfeit electronic equity industry. Their efforts and influence to protect their positions and their enterprise is well tracked ad documented. - SevenTenEleven

Neither NITE nor any other member of the purely fictitious "counterfeit electronic equity industry" Mafia can be blamed for Bezzano's 100% failure to keep his 4 WY corporations Current & Active.

BTW, is the credibility of that "knowledge" enough to get a law firm to represent FFGO shareholders' interests in a court of law in order to win NSS damages for them?

Didn't think so.

Nice distraction though.


***Countdown To 3/12/2012 Divigeddon***: T Minus 87 Days

Tic Toc goes the REAL World Clock

[RoadLessTraveled]

WY Dissolution Statute...No Effect On Dividend Process Whatsoever!

What is the point of simply showing what the statute says, highlighting irrelevant clauses and then offering no explanations as to how any of it affects a highly conditional 3400% Dividend "promise" FFGO made over 2 years ago (complete with multiple "weasel" clauses)?

It was a promise made:

1. before selling the only valuable assets it had to NMGL for valueless Preferred shares (instead of cash as everyone had been previously told), untradable shares which are currently sitting uselessly in the account of Western Diversified (WD), a completely separate entity from FFGO according to WY SOS.

2. before the elimination of all lines of communications with shareholders.

3. before being "unexpectedly" revoked by the SEC.

When I recently talked (yet again) to a rep from WY SOS, she assured me that an administratively dissolved corporation was not allowed to conduct any business other than what was involved in shutting down the company and liquidating it's assets & properties, as would be shown on it's books at the time of dissolution.

The fact is, FFGO has neither property nor assets nor are they owed anything from anybody.

Fortress has no cash. Its sole assets were its shares of Bouse Gold, Inc. and South Copperstone, Inc. common stock; now disposed of to NMGL. These shares were held by Western Diversified Mining resources, Inc. (“Western”), a wholly owned subsidiary company of Fortress.

Those who continue to assert that Fortress holds other assets despite numerous regulatory filings to the contrary are living in fantasy land and their comments stating that other assets exist should be ignored.

Sorry...couldn't resist including FFGO's own admission of certain shareholders living in fantasy land. I mean, when even the company announces it (or maybe it was Lumb himself ), it's gotta be real, right?

They even made clear that the fate of the Dividend Process was now at the mercy of NMGL, to be completed (or not) according to their business plan:

NMGL intends to purchase 100% ownership of Bouse Gold, Inc. and South Copperstone, Inc. This is imperative if they are to sell these Gold assets for cash going forward.

NMGL has not however provided us with any timeframe as to when they intend to acquire the additional shares of Bouse Gold, Inc. and South Copperstone, Inc. and NMGL will clearly continue to follow their own business plan and will only complete all of these transactions as and when it fits into their own business plan.

This NMGL policy very clearly extends as well to their purchasing shares from historic stockholders from 2005 who received shares of Bouse Gold, Inc. and of South Copperstone, Inc.

That would mean that FFGO had, in fact, relinquished control of the Dividend Process and that it was no longer even in their possession, correct?

...the company is ceasing to operate.

Wouldn't that announcement clarify that they weren't even going to bother hanging around to see what NMGL ended up deciding to do in its now current (and still non-binding) role of "Last Remaining Enabler Of The Dividend Process On The Planet"?

Not only that, but FFGO even granted permission to NMGL to terminate the agreement, which would, in turn, doom the Dividend Process completely, especially if FFGO was no longer around to create a different agreement:

The agreements provide for such termination by NMGL in the event of any litigation against Fortress or Western or any regulatory actions against Fortress.

Documentation's a real biotch, isn't it?

So exactly how does the WY Statute now apply when FFGO is no longer in charge of a Dividend Process to protect?

The company is not legally permitted to initiate any new business at all, such as distributing a dividend that had never even been declared by 2/9/2012...and still hasn't...

not that it would be relevant now anyway.

FFGO does have 2 years from that Date of Dissolution to clear up all the fees/taxes owed and to make any required filings.

If the company does not become current within that 2 year period, or doesn't legally challenge the ruling, then it is automatically & immediately permanently dissolved, at which time, it's Status on the WY SOS website will change from "Inactive - Administratively Dissolved (Tax)" to "Archived".

With all such facts disproving any Dividend Process relevance, what exactly does WY's Statute have to do with it, making it so important that the info is stickied?

Or are shareholders not entitled to such an explanation?

They certainly don't deserve to be deliberately misled like this.

One might think that shareholders have had enough of "Connect The Dots" BS games by now...

but maybe not.

Of course, with nothing else factual to offer, that really is the only game left in town.

Isn't it?


FACT: 3/12/2013 WY SOS is scheduled to permanently dissolve both Bouse Gold Inc. & South Copperstone Inc. and nullify all 2,500,000,000 shares from each company...private shares currently owned by NMGL, Searchlight Exploration, FFGO 2005 Dividend holders & other miscellaneous stockholders.

***Countdown To 3/12/2012 Divigeddon***: T Minus 87 Days

Tic Toc goes the REAL World Clock