You guys are going to have to pay my cell phone bill this month, after making these phone calls(25 minutes)!!
I spoke with Andrew just now, asked him some questions about the shares in escrow.
-Can the shares in escrow be sold by Golden Gate?
The whole point of the escrow is to be able to CONTROL the shares.
He told me the terms of that agreement were set before this whole thing started. They had to make sure they were able to make this shell completely clean. The amount of the shares was determined on the amount of $$$ previous management owed Golden Gate. Golden Gate had given them money to be able to operate as a fully reporting company(audits and operating expenditures). The amount owed to Golden Gate was 225k, if I remember right.
-Can they sell them? He doesn't know the exact terms of the agreement, but assumes that because the amount of volume the stock has been trading they have sold some. IMPORTANT NOTE: They can only sell enough shares to cover the 225k or whatever the exact amount is. After that they would hold the remainder of the shares and the company can make a determine whether or not to retire those shares or not. Since the share structure (after merger)will be set up to for the best scenario for Aero, it really won't matter.
-He said that when the audits are completed on Aero, investment firms will be able to determine the best exchange for Aero to be placed and what price the company would be valued at. (DD the AMEX)
-During negotiations between Aero and FCCN, they had to make sure that all debts where paid and like I said this shell to be CLEAN. This was the best way for the company to set up Aero to come into the shell.
If you have questions, please contact Andrew Beyer/FCCN IR 951-587-8072.
I understand all of what he explained and have no doubt this is for the benefit of FCCN shareholders and this acquisition. Trying to explain it, is NOT SO EASY, so call yourself. People need to RELAX...IMO
