Petar Ilievski

The Story of First Corp (OTC:FSTC) and Its Rich Promoters Continues at Full Speed

by Petar Ilievski April 6, 2011

Furthermore, a quick glance at the last 10-Q statement with an end date Dec. 31st would reveal that the organization and capital formation has led to the following numbers at the end of last year:
  • Total Current Assets (Cash only) of $27k;
  • Total Current Liabilities of $133k;
Not really apocalyptic figures, but one should keep in mind the following - First Corp wants to acquire another company. And this is not the only interesting fact here. Last December, the company appointed Mr. Andrew Clarke as its new CEO. According to the agreement, Mr. Clarke would receive a little more than $660 per month, for a total of $8000 per year. While such salary can certainly fit in the balance sheet of the company, some people might find it better fitting for a seasonal worker.

These, as well as many other factors, form a pretty peculiar picture for First Corp at the present moment. They also paint one of uncertainty, however, and it is hard to predict what the outcome would be for the company and for its present and future shareholders.

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