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Why the financials are important:
Current management said Financials would be finished Feb. 28. per the prelim 14-A,
then they said Financials would be done by March 15, per the def 14-A,
now they say by end of March( this is the 3rd time), so it has become a credibility issue now.
The financials, even though they show a shell, they will show all of us the stock that is outstanding as of 12/31/06 and we should have a pretty good idea of what the real numbers are.
Has anyone heard from Andrew? I sent an e-mail yesterday asking for a Financials update. They told us that the financials will be done this time by the end of March: that's a week from Friday.
2 observations:
1 FCCN is not on the SHO list, so MM's appear to be caught up.
2 We IHUBers, have +/- 120 mil of the 180 mil OS? Float
So 60 million is un accounted for and floating ?
1. Pietro- 6.2mil
2. Pietro- Family & Friends 8 mil
3. Todwho2- 1mil
4. DR Wonderful-1mil
5. 6digits-344,000
6. psycotic1- 1mil
7.bigbear96-1.8 mill
8.friends and fam 1mill
9. capptonron -7mil
10. Digitalj -375,000
11. arjanle- 805,000
12. igtuna177 - 262,030
13.dkdk - 2.5 mil
14.iateone2- 1.8 mil
15.Justifiably - 500,000
16.
If any one is interested Let's cut and paste our own little NOBO list!
. Pietro- 6.2mil
2. Pietro- Family & Friends 8 mil
3. Todwho2- 1mil
4. DR Wonderful-1mil
5. 6digits-344,000
6. psycotic1- 1mil
7.bigbear96-1.8 mill
8.friends and fam 1mill
9. capptonron -7mil
10. Digitalj -375,000
11. arjanle- 805,000
12. igtuna177 - 262,030
13.dkdk - 2.5 mil
14.iateone2- 1.8 mil
15.Justifiably - 500,000
16.
They will not have Financials released by 3/15?? Thanks for your information, but now they say end of March and all the financials will be out? This will be the 3rd revised date for financials on a shell.
The Financials are due in "2" days. That is why I am suprised that 2 days makes a difference. I would vote to remove the BDC regardless of what the old Q's and K say.
I was really hoping that the financials would have been furnished to us this morning. Someone mentioned that Andrew thought they would be.
A BDC shell has little value and is a giant pain to pass off to someone looking to go public. The BDC needs to be removed no matter what and they have the votes anyway. The financials will not show you a reason for FCCN or any company to remain a BDC. IMHO
My post from 3 days ago. I wish you guys would just ask Peacock or e-mail him and say to release the delinqunt financials so we can see the true share structure. If they don't have about $5000.00 to pay some auditors to prepare them, then that is a problem. Just bring the financials up to date with the old FCCN.
Posted by: justifiably
In reply to: Josh Taylor who wrote msg# 25040 Date:1/22/2007 11:27:05 AM
Post #of 28902
Since they will not, it's not like they cannot provide the delinquent filings. This is going to be in trouble. As I have said all along. There is no need for me to watch this go back to the .015 range. I'm gone for all those who think I am wrong, but I am still long and will wait on financials. GLTY
Since they will not, it's not like they cannot provide the delinquent filings. This is going to be in trouble. As I have said all along. There is no need for me to watch this go back to the .015 range. I'm gone for all those who think I am wrong, but I am still long and will wait on financials. GLTY
Cruz, you know what I would like? If they read this, all I want is what they have said they would do. Just show the financials. That's it. I want FCCN to go to a buck! That would be great. Just show me the past due financials.
The Accum/Distrib line will show dilution. At this point, dilution is mild, I have seen muchhhh worse. But just keep your eyes on it. and no one can say where that cash came from. ask Andrew: where did the 1.5 come from. I don't care where it will end up. It came from somewhere, goes to AERO, AERO repays FCCN which will be AERO anyway. It would be great if they pay the investors back with cash and take back the stock used as collateral or payment.
Hey Janeverite. To answer your question, yes, I do.
What!?! That's bs.
According to Andrew, pr's. news, financials, all will be coming out in the next few days/weeks. This is nothing new. Being a pink,they do not ever have to file financials. This run rminds me of RMDG and RUSH COLA. Anyone remember those? Only the chart reminds me, not the deal. But as we talked about, money was given to AERO and sure it will come back to FCCN since they will be 1. But FCCN has no cash, so where does the cash come from? they only have one source of money and that is called stock. It is not stock from the old mgmt otherwise, they would have had cash. If FCCN had cash now, then they could spend the couple, couple like 5-10,000 grand to update all finacials. 1.5 mil and 10,000??? No one will get any numbers until they have done what they want. So spend a couple of grand and show the missing 10Q's and the K which is due March 30. If FCCN wants to go back to BB or higher status, they have to file. The Q's please.
Sorry YAK, I meant to post that to no one- general post. Transfer Online has no gag on shares O/S or floating. If that news is late, then ok. I am going to call Andrew next for the last piece of info I need, but maybe you guys have the info.
I just called E-Trade where I trade. They said it has nothing to do with the company. There might be a merger, a name change, or some other reason why you have to call in. They also said that sometimes they want to check that there is not any suspected manipulation going on(I guess not since the make a market in it)! And that is all I got. Either the Brokers there are really stupid or since they are always being recorded, they have a tight muzle on.
Correct. all of the 10-Q's will be for FCCN only. But they have to be done before any merger can happen. The old FCCN had nothing going on, so it would be easy if you can pay some auditors a couple of grand. So why not put out the old companies Q's. What could be wrong with that? hmmm?
10-K is due in March. The old FCCN had one in March 06. But there are 4 -Q's due.
If there is a 10-Q out next week I will be a very happy camper and I say IF, because what I heard is different. But we'll see.
I have not sold and will not selluntil I see a 10-Q. The financials I want are the ones prior to AERO, there are no financials since 12/05. So just last years is all I want, I know they cannot provide anything on AERO. As far as AERO's financial health, that will not be discussed till it's a done deal: until the numbers are audited and in the SEC.
If someone wants an indication of revs, check out D&B.
I own 500,000 shares and I am not selling. I have said all along that I am long. I receieved interesting comments. Why did Google go public? Because the 2 guys had no money! They started Google from their garage. YouTube, they had no money, they were going in debt on their credit cards, then they got backing and now they are bought out by Google. If a company has 100 mill in revenues, it is easy to get money from a bank and not have to disclose any information on your company and you lower your exposure. Companies that go through shells do it because that is the only way than can get into the market. Institutions? Since when did institutions buy penny stocks? That's a first. A reverse merger is a simplified, fast-track method by which a private company can become a public company. A reverse merger occurs when a public company that has no business and usually limited assets acquires a private company with a viable business. The private company "reverse merges" into the already public company, which now becomes an entirely new operating entity and generally changes name to reflect the newly merged company's business. Reverse mergers are also commonly referred to as reverse takeovers, or RTO's.
Reverse merger: private company goes in a shell because they have no money and can't get it any other way. Personally, I have made money on shells, and I like them. All I want are updated financials , the ones prior to the announcement of the merger. Is that too much too ask? That would answer my questions and I bet a few others
You my friend are absolutely correct.
If they don't need money, why are they going public? That makes no sense if they have a 100 mill revs. I spoke with Andrew yesterday too. If AERO has so much money, why is there a loan? That makes a lot of sense: I guess I'm not the only one that sees the logic in that statement.
August 16, 2006...The Company has entered into a Letter of Intent (the "LOI") with Javelin Advisory Group, Inc. ("Javelin"). As per the LOI, Javelin will provide several services for the Company including the preparation of financial statements of Franchise Capital and all necessary SEC filings to bring Franchise Capital current with its filings requirements, organize and oversee a shareholder meeting to withdraw Franchise Capital's BDC status, and commit to a minimum capitalization target for any merger that would be in line with Nasdaq small-cap requirements.
FCCN is not a BDC anymore: that is confirmed. The 10-Q's from 12/2005 are late. Why? Because the old FCCN did not have the money to pay the auditors.
Ever heard of a private placement?
Crack open a few dude. They have no money, the money they do have I suggest you ask them where it came from. I know where it came from. How long you been trading stocks? I said earlier I was a consultant with FCCN, so go ahead and tell me you know more than me.
FCCN has no money! 1.5 million to go public? wrong, that's why companies use shells. And the float is not going to change until Q2? Where did you think that one up? You are 100% wrong on that statement. They can change the float tonight if they want.
Maybe AERO does make money, but they just borrowed 1.5 million from a company that I thought had no money
It is quite unclear about FCCN having finished finacials by the end of Q2 or if both or if AERO. FCCN is loaning 1,5 million to AERO, where did they get the money? think I know. There is no way it takes this long to get current on the old Q's. Guess I'll be making some calls tomorrow. Any thoughts from someone else?
there won't be a PR this afternoon. "Andrew is out to lunch for at least an hour."
I'll buy that, lunch at 1:45 PST, after the close, ok. But who said they talked to Andrew and he said it will be today???
4 business days to post the details, the 8 K, the 10 Q, a PR? What do you think SPICEMIKE?
Correct, BGR went default and FCCN took it. How far back do you want me to take a certificate that says BGR on it? Fine, stick with your DD.
I have no opinion either way on the new management. FCCN has much more going for it now since it is no longer a BDC . The old FCCN was out of cash and a restaurant franchise is going to require cash to incubate and support ongoing efforts. The old management took care of the old shareholders by finding this group: it could have easily gone the other way and no one would be here talking. Look what you have now. I will think much more about this company once the 8-K and 10-Qs are filed. But I think they are definitely primed for doing good deals. Someone is buying the stock and there was not that much floating around from the old company.
The real story on BGR: BGR was the 1st company that went default and became a shell. FCCN bought the stock and never paid the cash to change the name to FCCN on the stock. How do I know? I have a cert and BGR is the stock certificate with a little FCCN tag stuck on the top. Not to mention, I used to be a consultant for them.
It is illegal to buy stock with the knowledge of what are considered significant events as this obviously is. And if a company was buying their own stock they would have to file that with the SEC and we would know it.
If AERO was buying any that would be a tad illegal at this point.
If the deal is done, which I am 99.999 % sure it is, then that means a few things. The deal is hammered out between both sides; they aren't still talking about it with FCCN doing PRs on AERO. So an 8-K has to be ready. The 10-Q's should be ready since there has been no action, only accumulated losses for write off. The only thing I can see is having the language being drafted in an acceptable SEC fashion, but regardless, they have been working on it. It should be released, so why it is not would be a great question for someone.