RE:Financials have been posted OMG you are so special bywong (I just love the way you set yourself up for me).
1. NGC last annual financial statements as at December 31, 2015:
"Emphasis of Matter Without qualifying our opinion, we draw attention to Note 2 of these financial statements, which states that Northern Graphite Corporation incurred significant losses from operations, negative cash flows from operating activities and has an accumulated deficit. This, along with other matters described in Note 2, indicates the existence of a material uncertainty which may cast significant doubt about the ability of Northern Graphite Corporation to continue as a going concern. March 29, 2016 Vancouver, British Columbia Chartered Professional Accountants"
2. I will educate you on a few things that I would have thought were obvious to such an astute investor like yourself:
All of these junior graphite companies (FMS, NGC, CSPG et al) are in the exploration phase, have no earnings and their ability to continue as a going concern are dependent on obtaining financing. It's sad that I need to spell this out for you.
3. The reason FMS has progressed more than any of the other graphite juniors is precisely because they have obtained vastly greater amounts of financing (which to me says it all).
4. Subsequent to the release of the financial statements (November 2016, only 2 months ago) FMS obtained another $700,00. Do you even know where NGC stands with its liquidity. They have been releasing nothing and appear to be able to do nothing as there are no investors with serious cash willing to dump money into an obvious loser.
5. Cash on hand increased to 1.085 mill versus 400k , more than doubled year over year. (page 7 statement of cash flows)
6. cash balance plus 700k PP = 1.8 mill since sep 2016.
7. FMS is receiveing 1 mill/quarter from Grafoid (Grafoid had total revenues of 28 million) FMS share is 4 mill (page 23.)
8. Grafoid market value/share $5 USD ($6.6 CDN) X 7.8 mill shares = 51.3 mill market value for FMS (page 22)
9. Valuation of mineral properties 25.6 mill (page 25)
10. total book value of FMS = 76.3 mill
11. Total expenses have declined by 1.34 mill or 28% (page 5)
12. Total management expenses are CEO, COO and CFO = 895k or an average of 300k each. (page 44). Any future slander related to fictitious numbers created by you will be called out immediately with actual facts like this one.
Bottom Line:
1. FMS is tremendously undervalued (market value is 14 mill vs book value of 51 mill).
2. In my opinion, FMS is the only junior that is advanced enough to obtain financing in the short term
3. Lac Knife is the # 1 ranked deposit in N.A.
4. FMS owns 18% of Grafoid whose revenues are 28 mill.
5. Projecting forward the revenue growth at Grafoid means that FMS will likely see a tremendous windfall from this investment.
6. FMS has access to Grafoid's graphene technology which gives them a huge advantage over any competitor trying to market battery grade graphite.
5. In my opinion, both companies are at the stage for major financing/partnership. If you wait until one of these hits it will be too late, as it is with Mason.