The only reason for Dynamis to not exercise their warrants would be if they have lost faith in the project and do not wish to sink any more money into it. Very simple. If they still feel there is a chance then they would have evaluated how much money to pour in. Just for example, if the average price (as defined in the agreement) for the ten days of pricing was .07, then the 5Million exercise would have required a cash investment (@80% value as per agreement) of $280,000. Keep in mind that a portion of Dynamis' prior contributions to FDEP was in the form of services, not cash. This would have to be all cash.
fsnr has 4 business days following a material event to file with the SEC. That would mean by close of business tomorrow. It would also make sense that if Dynamis had exercised that fsnr would want the world to know as soon as possible, but you never know with this company. Stock activity the last few days looks mighty suspicious, though. so they might have tipped off their loyal promoters. Its all a guess until we see the news...or not. Then we will know if fsnr is dead in the water or still afloat, but crooked to the bone.
FYI/ since you are new here: fsnr needs cash to pay off the first year's mortgage interest on the purchase of CTR. Lump sum of about $132,000 is due. Without the additional money from Dynamis, it is more than questionable how fsnr will pay this. There is a 30 day "cure" period and then the possibility of foreclosure on the Ennis property. So, the Dynamis decision is critical to fsnr. Since the past few days activity suggests that Dynamis re-upped, we can all look forward to many months of new business plans. Be sure to read the details, because that is where fsnr will get you every time.
GL.
AI
