Not true about no one ever not having said that shorty has to pay a dividend. I have read many such posts from people "shooting from the hip". Nary a one attempted an explanation (which I doubt they had, much less understood) as you have done here. It is what sets you apart and I say that most sincerely.
I am fully aware of the consequences that dividend payments, cusip number changes, and the like usually have on short positions and that they can be extremely effective when done properly.
But we are talking here about an undeclared dividend with multiple fulfillment & termination conditions in which a higher percentage of termination conditions have been met so far than fulfillment ones.
There has been no progress on the dividend declaration process in over 2 years.
All five companies involved are currently either revoked or administratively dissolved in their states of incorporation.
None have active Business Licenses and none are legally permitted to conduct any business (other than that related to dissolution) until they are re-instated.
The clock is ticking away on permanent dissolution for four of them, with the most serious consequences occurring on March 12 when Bouse Gold Inc & South Copperstone Inc will disappear as legal entities and with them, the very core of the dividend process.
Faced with these impending events, I continue to question the reasoning behind all this distracting talk of shorty when it's each companies' own actions, or more accurately, their lack of actions, that have created this current situation for shareholders.
Shorty never prevented FFGO from filing all their required financials or from conducting feasibility studies and releasing assays on the Bouse & S. Copperstone properties.
Shorty never prevented NMGL from buying those remaining BGI & SCI shares, nor from selling the ones they already have.
Shorty never prevented Bezzano or Lowenthal from keeping current with their corporations' status.
When those BGI & SCI shares legally vanish in March, there will no longer be any chance of the dividend ever being declared, much less distributed, according to the very terms found in the 8-K's filed by both FFGO & NMGL. And yes, I have read them. Many more than once. Even included excerpts in posts from time to time.
Since none of those five companies involved are allowed to legally conduct any new business, there is no chance of new dividend declaration conditions or deals being made...at least, not for FFGO shareholders.
That is as clear and as concise as it gets.
Scenarios of dividends being declared and NMGL's Preferreds being registered might make for some nice bedtime stories but in light of overwhelming evidence to the contrary, they are an injustice to the remaining shareholders since they ignore the harsh reality of the dividend's imminent demise. This is one bedtime story where the good guys are not the ones riding happily into the sunset.
Rumors of GNCP or any other of Lumb & crew's companies using the Bouse Gold & S. Copperstone claims to somehow pay the FFGO dividend have no legal basis whatsoever and are 100% false & misleading.
Maybe one day, everyone will finally wake up to the fact that the FFGO dividend scheme turned out exactly as planned...but that will probably happen much later than sooner.
That it has gone on for as long as it has, borders on the miraculous. I doubt that the principals were counting on the continued zealous support of the True Believers after all this time and in light of all that has transpired.
This was the proverbial icing on the cake since it gave them the extra time needed to have their companies permanently dissolved without having to lift a finger or spend another pound.
And while I cannot condone their actions, I begrudgingly admit that their plan was brilliant.
As far as your efforts to pursue NSS, OldBen, you will simply need much more than those FINRA records...but I think you know that by now. If it turns out that management themselves illegally shorted the stock in offshore accounts, then you will have an uphill & expensive battle on your hands.
You, at least, admit to the broken, i.e., fraudulent promises management had made regarding the dividend which is more than I can say for many others. But you are also smart enough to know to not expect any help from any of the companies involved which is a serious impediment to uncovering any illegal shorting on their part.
The only successful NSS settlement cases on record have been when the companies themselves were fully engaged...but don't expect that to happen here. At least, not voluntarily. There is always that pesky 5th Amendment to be invoked.
You deserve the respect of everyone for actively pursuing a course of action rather than just yammering on and expecting someone else to do it.
The very best of luck to you, sir. I hope you nail the bastards.
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