Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » ffgo 5 mill butback (Page 1)

 - UBBFriend: Email this page to someone!   This topic comprises 2 pages: 1  2   
Author Topic: ffgo 5 mill butback
m69jump
Member


Rate Member
Icon 1 posted      Profile for m69jump     Send New Private Message       Edit/Delete Post   Reply With Quote 
http://www.alphatrade.com/news/stories/AM/2008-06-12/MRW/200806121159MRKTWIREUSP R____0406361.html
Posts: 1073 | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
Yep, been waiting a little while for news. Glad it's good. Now, just hit that extra 20 million buyback, finish the acquisitions, and get a good quarterly profit report and it should shine.

"All things come to he who waits."

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
m69jump
Member


Rate Member
Icon 1 posted      Profile for m69jump     Send New Private Message       Edit/Delete Post   Reply With Quote 
197 mill v it's the hot stock jmo........
Posts: 1073 | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
gumzsa
Member


Icon 1 posted      Profile for gumzsa     Send New Private Message       Edit/Delete Post   Reply With Quote 
Maybe this POS still has hope.lol. I still have my milly lotto ticket.

Company's CEO Confirms Substantial Personal Stock Purchases

NEW YORK, NY--(MARKET WIRE)--Jul 1, 2008 -- Fortress Financial Group, Inc. (Other OTC:FFGO.PK - News) confirms that its Chief Executive Officer. Alan Santini, has acquired an amount of 2,400,000,000 "free trading" shares of the Company's Common Stock at a price of US$0.0001 per share.

Alan Santini holds an additional amount of 1,500,000,000 restricted shares of the Company's stock as disclosed in a filing with the SEC on January 22, 2008.

Alan Santini will be filing an updated schedule of his holdings with SEC.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. was primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. Upon the closure of the Trinity Mercantile Finance and the Mortgage Bank acquisitions; Fortress Financial Group, Inc. will expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the immediate to medium term.

The Company is utilizing is substantial Balance Sheet of circa US$1billion comprised of quoted and unquoted Gold Mining & Exploration stocks; to aggressively fund a large number of acquisitions in the consumer financial services sector; initially focused on the Mortgage Lending and Banking sector.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Posts: 712 | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
New PR...

http://www.marketwire.com/press-release/Fortress-Financial-Group-Inc-876017.html

My question to those who may be able to decipher PR's better than I is how are they spending over $200 mil to buy back 16 billion shares when the per share price is only .0001?

Or did I read that wrong?

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
TruthLiesWithin
Member


Rate Member
Icon 1 posted      Profile for TruthLiesWithin     Send New Private Message       Edit/Delete Post   Reply With Quote 
Wow.

So I have Hunt's gold too, and I thought the comma was in the wrong place for number of shares, but this whole gold gang is doing some big talking.

I know there are people pissed at all these companies related, but it seems they all are trying to make a push for something, what that is I don't know, but it sure is getting interesting.

I threw HGLC $500....
Who has the $700,000,000 in gold assets?

This is nuts.

Posts: 793 | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
gumzsa
Member


Icon 1 posted      Profile for gumzsa     Send New Private Message       Edit/Delete Post   Reply With Quote 
Fresh News. More stock repurches. Man if this keeps up we might have a chance here. Still a lot of shares out though.

Fortress Financial Group, Inc. -- Further Stock Repurchases

Company Confirms That a Further 17.84% of Its Outstanding Shares of Common Stock Have Been Repurchased and Cancelled

NEW YORK, NY, Jul 10, 2008 (MARKET WIRE via COMTEX) -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has repurchased an additional amount of 7,660,000,000 "free trading" shares of its Common Stock on July 8, 2008 and on July 9, 2008. The amount of 7,660,000,000 "free trading" shares of Common Stock are now being cancelled by the Company's Transfer Agent. This represents a further 17.84% reduction in the Company's outstanding shares of Common Stock.

The total cost to date of this repurchase of the Company's shares of Common Stock was in the amount of US$110,610,500.

On July 7, 2008, the Company announced that it had repurchased and cancelled an amount of 16,209,083,248 shares of its Common Stock at a cost of US$204,456,256.

The Company has to date, repurchased and cancelled an amount of 23,869,083,248 shares of its Common Stock at a total cost in the amount of US$315,066,756.

The Company's outstanding shares of Common Stock as at July 10, 2008 are now in the amount of 35,281,766,809. The Company has to date, reduced its outstanding shares of Common Stock by an amount of 40.35%.

The Company's Net Asset Value at July 10, 2008 is valued in the amount of US$500,270,294. This translates into a Net Asset Value per Share in the amount of US$0.01418 (1.42 cents) based upon the number of the Company's outstanding shares of Common Stock now being in the amount of 35,281,766,809. This compares to market price per share of Common Stock in the amount of US$0.0001. This valuation excluded the value of the Company's intangible assets and the Company's stockholdings in St James Capital Holdings, Inc.

The Company has marked down its valuation in respect of its stockholdings in Hunt Gold Corporation to a price of US$0.001 per Hunt Gold Corporation share; for the purposes of this calculation.

The Company intends to continue its buyback of its shares of Common Stock; and remains extremely committed to a vastly reduced number of its outstanding shares of Common Stock and a considerably diminished "free float."

The Company is filing a very detailed Form 8-K with the SEC in and during today, in respect of these transactions.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. was primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. Upon the closure of the Trinity Mercantile Finance and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. will expedite its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the immediate to medium term.

The Company is utilizing its substantial Balance Sheet of circa US$500 million comprised of quoted and unquoted Gold Mining & Exploration stocks, to aggressively fund a large number of acquisitions in the consumer financial services sector; initially focused on the Mortgage Lending and Banking sector.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact:

Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer

Email Contact

Tel: (954) 840-6961


SOURCE: Fortress Financial Group, Inc.

CONTACT: http://www2.marketwire.com/mw/emailprcntct?id=D64A03B5AE142C2D

Copyright 2008 Market Wire, All rights reserved.

-0-

SUBJECT CODE: Manufacturing and Production:Mining and Metals

Posts: 712 | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ok, still confused...

7,660,000,000 shares with the current market value of .0001 doesn't equal US$110,610,500.

How are they getting these numbers?

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
They say "to date", so that's not just the 7.7bil from this round, it also includes the other 20bil from apparently previous buybacks. Numbers still don't even approach making sense though.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by PCola77:
They say "to date", so that's not just the 7.7bil from this round, it also includes the other 20bil from apparently previous buybacks. Numbers still don't even approach making sense though.

Glad to know it's not just me. [Smile]
Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
TruthLiesWithin
Member


Rate Member
Icon 1 posted      Profile for TruthLiesWithin     Send New Private Message       Edit/Delete Post   Reply With Quote 
Any of you have HGLC?

This web of uncertainty is pretty large, and it seems all angles of this company are putting out some serious PR's...

If any of the PR's are bogus, they are pretty much writing a life sentence, so I assume they are getting serious.

On another note, the numbers they speak of per the buyback is based on a share price of .001 and not .0001????
I think I read this somewhere and will try to find it..
It makes the valuation of the buyback, more significant than the actual money paid for the shares....
At least that is my take, not a CPA, and not trying to be one:)

Posts: 793 | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6038832


SHARE REPURCHASES :-


On July 8, 2008 the Company purchased an amount of 500,000,000 "free trading" shares of its Common stock at a price of US$0.01444 per share of Common Stock. This pricing being based upon the Company's Net Asset Value per share as at July 7, 2008. The cost of this repurchase was in the amount of US$7,220,000.00. This was settled through the transfer of an amount of 6,016,666,667 restricted shares of the Company's stockholding in Hunt Gold Corporation (HGLC.PK) and at a price of US$0.0012 per share of Hunt Gold Corporation's Common Stock; to the vendors of these "free trading" shares of the Company's Common Stock. This is calculated at the Hunt Gold Corporation's market price of US$0.0012 per share on July 3, 2008.


The Company has instructed its Transfer Agent to cancel these shares of the Company's Common Stock and in the amount of 500,000,000 "free trading" shares of Common Stock.


On July 8, 2008 and on July 9, 2008, the Company purchased an additional amount of 7,160,000,000 "free trading" shares of its Common stock at a price of US$0.01444 per share of Common Stock. This pricing being based upon the Company's Net Asset Value per share as at July 7, 2008. The cost of this repurchase was in the amount of US$103,390,500. This was settled through the transfer of an amount of 177,494,421 Ordinary Shares of Western Diversified Mining Resources, Inc.'s stockholding in Bouse Mining Holdings plc and at a price of US$0.5825 per share of Bouse Mining Holdings plc Ordinary Stock; to the vendors of these shares of the Company's Common Stock.


The Company has instructed its Transfer Agent to cancel these shares of the Company's Common Stock and being in the amount of 7,160,000,000 "free trading" shares of its Common Stock.

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
Upside
Member


Icon 1 posted      Profile for Upside     Send New Private Message       Edit/Delete Post   Reply With Quote 
If ever I've seen the next monumental scam, this is it. An a/s of 5 TRILLION and an o/s of 35 billion. Somewhere there's value here? This one is shaping up to be 10 times what CMKX ever was.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Upside:
If ever I've seen the next monumental scam, this is it. An a/s of 5 TRILLION and an o/s of 35 billion. Somewhere there's value here? This one is shaping up to be 10 times what CMKX ever was.

what are you trying to say exactly?

 -

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
boneyardjeep
Member


Member Rated:
5
Icon 1 posted      Profile for boneyardjeep     Send New Private Message       Edit/Delete Post   Reply With Quote 
Could you enlighten me ???? CMKX? And do you think that now would be a good time to buy a little more???

--------------------
I wish aliens would come down from space & make me thier pet I would like a bed with my name on it

Posts: 89 | Registered: Nov 2006  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
IMO? Seeking Freedom is asking the exact right questions.

the numbers don't make sense to me either... they SEEM to me to be buying common shares with other shares and then assigning values to them that are "creatively derived". i'm not an accountant, so i can't be 100% sure...... but if if you subtract the share price from 100%?.....

On July 8, 2008 and on July 9, 2008, the Company purchased an additional amount of 7,160,000,000 "free trading" shares of its Common stock at a price of US$0.01444 per share of Common Stock. This pricing being based upon the Company's Net Asset Value per share as at July 7, 2008. The cost of this repurchase was in the amount of US$103,390,500. This was settled through the transfer of an amount of 177,494,421 Ordinary Shares of Western Diversified Mining Resources, Inc.'s stockholding in Bouse Mining Holdings plc and at a price of US$0.5825 per share of Bouse Mining Holdings plc Ordinary Stock; to the vendors of these shares of the Company's Common Stock.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
Company Confirms Transaction in Respect of Its Remaining Two Gold
Mining & Exploration Projects
NEW YORK--(Business Wire)--Fortress Financial Group, Inc. (PINKSHEETS: FFGO) is now in a
position to confirm that it will be disposing of its interests in its
two remaining Gold Mining & Exploration interests, those being Bouse
Mining Holding Holdings plc ("the "Bouse Project") and Copperstone
Mining Holdings plc ("the South Copperstone Project").

Fortress Financial Group, Inc. holds approximately 48% of these
two Gold Mining & Exploration companies with the majority of the
remaining outstanding shares being held by eligible Fortress Financial
Group, Inc. (formerly Great West Gold, Inc.) stockholders.


http://www.reuters.com/article/pressRelease/idUS156339+11-Jan-2008+BW20080111

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
tmanfromtexas
Member


Member Rated:
4
Icon 1 posted      Profile for tmanfromtexas     Send New Private Message       Edit/Delete Post   Reply With Quote 
I remember these guys...

Company Notes
Formerly=Great West Gold, Inc. until 10-07

In the famous words of Monty Python's knight in The Holy Grail "RUN AWAY RUN AWAY" TMAN...

--------------------
In the end, trust only yourself when trading stocks.

Posts: 2048 | From: Texas | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
IWISHIHAD
Member


Icon 1 posted      Profile for IWISHIHAD     Send New Private Message       Edit/Delete Post   Reply With Quote 
Interesting reading but does not make any sense to me either.

With that many shares would be hard to figure why they would buy them back you think they would just R/S.

Will have to watch to see what happens some of the weirder PR's but it is pinkie land.

Posts: 3875 | From: ca. | Registered: Jul 2005  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
IMO? Seeking Freedom is asking the exact right questions.

I'm going to frame that, Glass. [Wink]

Seriously though, from reading the link I posted I have a question that some of you that have been doing this longer may clear up for me.

If they are having to buy the free floating stock from companies that I assume invested in them to take FFGO public, won't they have\want to pay them per share based on that percentage of the company's current asset worth is?

If so, that could explain the discrepency of the numbers...if not...we'll I'm still lost. [Confused]

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
Romeo
Member


Rate Member
Icon 1 posted      Profile for Romeo     Send New Private Message       Edit/Delete Post   Reply With Quote 
this company is full of b/s....

--------------------
SelfControl

Posts: 75 | Registered: Jan 2007  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
Two new PR's today...

Company Confirms That the Company Has Repurchased Additional "Free Trading" Shares of Its Common Stock
http://www.marketwire.com/press-release/Fortress-Financial-Group-Inc-880429.html

Company Confirms That the Company Has Completed Certain Acquisitions and Is Continuing to Acquire Additional Corporations
http://www.marketwire.com/press-release/Fortress-Financial-Group-Inc-880435.html

My question for today on these guys is more a definition of what they mean...

The Company is pursuing its new policy of issuing Convertible Loan Notes, convertible into shares of the Company's stock over time, based upon the profit performance of each and every acquisition. These conversions into shares of the Company's Common Stock will be priced upon the Company's stock price at the time of these conversions into stock over the next few years.

This is designed to continue the Company's policy of drastically reducing its number of outstanding shares of Common Stock, and not to follow its previous policy of issuing huge amounts of shares of the Company's Common Stock.


How does convertible loans notes work? And how does this not increase the number of shares outstanding?

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
Private Investment in Public Equity - PIPE

A private investment firm's, mutual fund's or other qualified investors' purchase of stock in a company at a discount to the current market value per share for the purpose of raising capital. There are two main types of PIPEs - traditional and structured. A traditional PIPE is one in which stock, either common or preferred, is issued at a set price to raise capital for the issuer. A structured PIPE, on the other hand, issues convertible debt (common or preferred shares).
Investopedia Says... This financing technique is popular due to the relative efficiency in time and cost of PIPEs, compared to more traditional forms of financing such as secondary offerings. In a PIPE offering there are less regulatory issues with the SEC and there is also no need for an expensive roadshow, lowering both the costs and time it takes to receive capital. PIPEs are great for small- to medium-sized public companies, which have a hard time accessing more traditional forms of equity financing.


now go look up "toxic financing" and "death spiral"

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
The deal seems straightforward enough—although it can take many forms. The financiers will give the company money in exchange for a convertible debenture, preferred or equity line at a discount to the market price of the shares. The key here is that the conversion rate/price is not fixed, and in some cases there is a share price level, usually significantly below current market that will stop the advancement of a larger second tranche of funds.

My stock will never get that low, concludes the CEO, confident that this deal will save his company. What he doesn’t know is that these sharks have likely found the company not based on the potential of the technology, but on the capital structure and the potential to whack the crap out of the share price and make them and their buddies a crap-load of fast money.

The result will likely be the complete destruction of the company at most, massive crippling dilution for the shareholders at least and likely land the whole thing in litigation. A handful out of hundreds of company that go down this road actually prosper, but not before a lot of financial pain for everyone other than the ‘good samaritans’ that structure these toxic deals.

Without fixed pricing, the financiers and their buddies make their money by pounding the shares through shorting—usually of the naked variety-- and, once the price has been decimated (the dreaded death spiral) convert their debenture, preferred —whatever—into ridiculously cheap shares to cover their massive short sales. Usually, the lower the price, the more shares they get courtesy of a favorable value/conversion rate.


http://www.smallcapnetwork.com/archive/listserv/20051101-1.html

of course you've already read this board right?

http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/14 /t/004460/p/1.html#000017

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
i would add that often? the insiders are doing as much or more dilutive "offering" of shares as the 'good samaritans’ that structure these deals. of course they blame the 'good samaritans’ and promise to try to do better next time [BadOne]

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ok, that sort of makes sense...but how can these deals short a stock already at .0001?
Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
dilution is the only thing they can do...
remember that .0001 is not the lowest price jus the lowest RETAIL price...

they can sell 1,000,000 shares to the MM's for 70$ and the MM's can sell at .0001 for a 25% profit (deducting expenses)

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
gumzsa
Member


Icon 1 posted      Profile for gumzsa     Send New Private Message       Edit/Delete Post   Reply With Quote 
This thing might have a chance. LOL.I am holding on to my lotto ticket to see how this pans out. Ive never seen a company buy back so many shares. We are talking billions.They are even filing it with the SEC. Hopefully this turns POS to a diamond.


Fortress Financial Group, Inc. - Further Stock Repurchases
Monday 07/21/2008 10:09 AM ET - Market Wire


As of 3:56 PM ET 7/21/08
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has repurchased additional amounts of its "free trading" shares of its Common Stock on July 16, 2008, July 17, 2008 and on July 18, 2008.

The Company repurchased an additional amount of 1,986,388,992 shares of its "free trading" stock at a price of US$0.0001 per share on July 16, 2008, July 17, 2008 and on July 18, 2008. The Company will be instructing its Transfer Agent to cancel these shares of its Common Stock. This represents a further 5.63% reduction in the Company's shares of its outstanding Common Stock. These repurchases were settled in cash.

The Company's outstanding shares of Common Stock as at July 21, 2008 are now in the amount of 33,295,377,817. The Company had as at July 21, 2008, reduced its outstanding shares of Common Stock by an amount of 43.8% in the last month.

The Company will continue to repurchase "free trading" shares of its Common Stock today, being July 21, 2008 and will continue to do so, thereafter.

The Company's Net Asset Value per share as July 21, 2008 is now in the amount of 1.53c per share of the Company's Common Stock. The trading price of the Company's stock as at July 18, 2008 was in the amount of US$0.0001 per share. The value of the Company's stockholding in St James Capital Holdings, Inc. and the Company's intangible assets have been excluded from this calculation.

The Company is in discussions with a large number of interested parties to dispose of its indirect stockholdings in Hunt Gold Corporation for cash; and in the amount of 483,750,099 shares of its stock; and at a price of no less than 2c per share. This will value this stockholding in the amount of US$9,675,002. The Company has however used Hunt Gold Corporation's trading price as at July 18, 2008, being US$0.0055 per share, in respect of its Net Asset Value per Share Calculation.

The Company directly owns an additional amount of 1,363,588,873 restricted shares of Hunt Gold Corporation Common Stock. At its closing price on July 18, 2008 of US$0.0055 per share, this holding is worth an additional US$7,499,738.

The Hunt Gold Corporation stockholding owned by the Company is currently worth as much as five time times the Company's Market Capitalization as at July 21, 2008.

The "break up" value of the Company, as at July 21, 2008 is now at least 152 times its current market price.

The Company intends to continue its buyback of its shares of Common Stock; and remains extremely committed to a vastly reduced number of its outstanding shares of Common Stock and a considerably diminished "free float."

The Company is filing a very detailed Form 8-K with the SEC on Monday July 21, 2008 in respect of the share buybacks on July 16, 2008, July 17, 2008 and on July 18, 2008; as well as setting out a very detailed explanation of its calculations in respect of its Net Asset per Share.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. was primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. Through the closure of the Trinity Mercantile Finance Group and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. is now expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage and Consumer Lending Divisions" will comprise the vast majority of the Group's earnings in the immediate to medium term.

The Company is utilizing its substantial Balance Sheet of circa US$500 million comprised of quoted and unquoted Gold Mining & Exploration stocks to aggressively fund a large number of acquisitions in the consumer financial services sector; initially focused in the Mortgage Lending and Banking sectors.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact:

Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer

Email Contact

Tel: (954) 840-6961


SOURCE: Fortress Financial Group, Inc.

http://www2.marketwire.com/mw/emailprcntct?id=EA31F5D9BC77AA46

Posts: 712 | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
gumzsa
Member


Icon 1 posted      Profile for gumzsa     Send New Private Message       Edit/Delete Post   Reply With Quote 
Unbelievable we actually have a bunch of MMs on the bid. They might pull this off.

.0002's are even getting smacked.

L2 screenshot---

 -

Posts: 712 | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
Company Confirms That the Company Has Repurchased Additional "Free Trading" Shares of Its Common Stock

http://www.marketwire.com/press-release/Fortress-Financial-Group-Inc-882142.html

NEW YORK, NY--(Marketwire - July 23, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Company has repurchased additional amounts of its "free trading" shares of its Common Stock on July 21, 2008 and July 22, 2008.

The Company repurchased an additional amount of 1,000,000,000 shares of its "free trading" stock at a price of US$0.0001 per share on July 21, 2008 and on July 22, 2008, in the market. The Company will be instructing its Transfer Agent to cancel these shares of its Common Stock. This represents a further 3% reduction in the Company's shares of its outstanding Common Stock. These repurchases were settled in cash.


Another billion shares down...

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
http://www.marketwire.com/press-release/Fortress-Financial-Group-Inc-882505.html

Fortress Financial Group, Inc. -- Extraordinary Dividend

Company to Distribute US$400 Million in Gold Assets to Its Stockholders as an Extraordinary Dividend


Not sure how this will break down per share...but it's a nice little bonus. [Smile]

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
Homersbud
Member


Member Rated:
4
Icon 1 posted      Profile for Homersbud     Send New Private Message       Edit/Delete Post   Reply With Quote 
Reminds me of that pos divy PNMS gave out for their land in South America...lol

$400m in gold assets, i bet...lol

Posts: 3026 | From: Chicago | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
WinsumLosesum
Member


Icon 12 posted      Profile for WinsumLosesum     Send New Private Message       Edit/Delete Post   Reply With Quote 
"This Extraordinary Dividend equates to an amount of 1.24c per share of Common Stock based upon the outstanding shares of the Company's Stock at July 24, 2008. "

I buy 1M shares for $100 or $200. and I get $12,400. Sounds fair.

Posts: 1872 | From: right here | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
tmanfromtexas
Member


Member Rated:
4
Icon 1 posted      Profile for tmanfromtexas     Send New Private Message       Edit/Delete Post   Reply With Quote 
Are they taking a page from Pearl Asia? I ended up with 5b preferred shares of paim and was actually a millionaire on paper for about 2 days. CottonJim and I were doing some planning back in those days. LMAO. TMAN...

--------------------
In the end, trust only yourself when trading stocks.

Posts: 2048 | From: Texas | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
gumzsa
Member


Icon 1 posted      Profile for gumzsa     Send New Private Message       Edit/Delete Post   Reply With Quote 
Of course this stock has scam written all over it but I think its worth throwing a couple hundred bucks at it. Just based on the L2 buying and the PR's and the fact they are filing with the SEC makes this a great lotto ticket.

I know I have my milly ticket. If it turns sour oh well. Whats 100-200 bucks loss in pinky land. Happens all the time. But if it turns out unbelivably lucky we could make g's.

Posts: 712 | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
  This topic comprises 2 pages: 1  2   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share