Focus Graphite Inc V.FMS

Graphite goof credibility check

[BywrongK]

Graphite goof - before hurling accusations that are 100% wrong...go get some facts.

Ever check FMS financials? Can find them on focusgraphite.com or SEDAR.COM
That where my info comes from...if it's lies, slander etc as you claim....that's right back at FMS

As far as looting FMS shareholders $$$ into Grafraud...from FMS financials

Balance, September 30, 2017 - During the year, loan advances were made to Grafoid in the amount of $3,092,739 that, in substance, form part of the Company’s net investment in Grafoid. At year-end, Management determined that there was objective evidence of an impairment of its equity interest in Grafoid taking into consideration factors including Grafoid’s financial position and results from operations. As a result, Management estimated the recoverable amount of the Company’s investment in Grafoid to be $Nil and recognized an impairment of the carrying amount of the net investment in Grafoid after the application of the equity method. There is estimation uncertainty associated with determining the recoverable amount for the investment in Grafoid as it is a privately-held research and development company, has a net asset deficiency and is dependent on future financings to continue to operate as a going concern. An impairment loss is reversed if there has been favourable change in the estimates used to determine the recoverable amount. As at September 30, 2016, the Company’s ownership interest in Grafoid was 18% and the carrying value of the investment was determined as follows:

So is FMS mngmnt incompetent....to lend $$$ to a Co that a couple months later can't pay it back....where is their DD? Or just plain looting?

Here's another one
JAG Sky Inc. During the six months ended March 31, 2019, the Company was charged $Nil by JAG Sky Inc. (“JAG Sky”) (2018 - $Nil), a private air charter services company wholly-owned by an Officer and Director of Focus, for air travel. As at March 31, 2019, the Company has a prepaid balance of $45,278 ($45,278 as at September 30, 2018), included in prepaid expenses, for air travel to be used at a later date.

WTF...prepaying $$$ into Jeff and Gary's plane? I call that looting.

Why aren't they spending $$$ on exploration?

Penalty provision related to flow through obligation In December 2018, the Company completed flow-through private placements for gross proceeds of $1,275,000 which were renounced under the “look-back” rule. By December 31, 2019 (the due date), the Company had not spent the required Canadian exploration expenses (“CEE”). The relating CEE was only incurred in October and November 2020. Management has estimated the liability relating to not spending such CEE by December 31, 2019. In determining the provision, management has made several assumptions such as the investors are in the top marginal tax rates and the estimated probability of a recourse by investors of 100%. Such provision is expected to change once more information from tax authorities and investors are obtained.

FMS has posted they are trying to sell shares in Grafraud to raise $$$$...why can't they achieve that?

Also you have managed to shed the last thimble of credibiliy claiming numerous posters here are me. 100% wrong there also.
Just lots of other posters that can see what a crock of dung pumpers like you are

JMHO

[roaring20s]

In all seriousness do you realize how ignorant you sound

[roaring20s]

No one here cares what happened with Gary. I care about the updated Lac Knife study results. I care about Lac Tetepisca drill results. I care if they care secure financing. I care about demand outstripping supply. I care if Marc can deliver. I will evaluate him on what he does. I care less than zero if Gary retired or was fired for how poorly he ran these company's. I care that he is

[youknowwhat]

Jeff and Marc have NO mining experience. Financing will be difficult for them to get. But GLTA.

[graphite13]

That is a good question and is the kind of thing that should be discussed on this board. Like I mentioned the whole sector (graphite exploration and development) has such peculiarities that it is challenging to apply conventional comparisons.     Management’s goals are to bring the properties (and the company) to the next level (a la Nouveau Monde). They are extremely qualified