Everyone keeps quoting this part of the 14A, but has never brought this part up.
"On January 12, 2007, the Company executed a definitive agreement with Aero Exhaust, Inc. which calls for a share exchange of common stock between the Company and Aero Exhaust, Inc. Under the terms of the definitive agreement, the Company can exchange up to 95% of its total capital stock for up to 100% of the total capital stock of Aero Exhaust, Inc. The specific share amounts will be determined at closing, which is anticipated to take place once the Company is current with its financial statement filings and Aero Exhaust, Inc. has completed an audit of its historical financial statements, presently anticipated for the second quarter of 2007."
It does not say that it will be 95%, it says up to 95%. Maybe that depends on how many shares Peacock can buy back before the merger. Lets assume the current float is 140 million. What if there are only 140 million shares of AERO (private). So FCCN gives them 3 FCCN shares for every AERO share they currently hold. The FCCN shares become 144 restricted and cannot be sold for 1 year. The total O/S count is 560 million (140 + 420). Under this plan it seems like everyone still wins.
Thoughts....................?
