HSM Addict
Join Date: Aug 2006
Location: Paoli, PA
Posts: 1,113
Spoke with Andrew 5 minutes ago. The following is a paraphrased version of the Q&A:
Q - Do you know the stock is down 40% today?
A - Yes.
Q - Do you have any explanation as to why it could possibly be down this much in one day?
A - It is very hard to give a good reason why. It is hard to value FCCN at this point. FCCN is a shell that had lots of liabilities and was deliquent on its filings. It isn't valued high by itself. It ran from .002 to .06 based on peoples perception of value when the AERO news came out. I don't know why its down today in particular.
Q - What is with the 780 Million shares with GGI? I am assuming they are selling them freely into the market. Is that true?
A - The answer isn't that easy. The escrow agreement hasn't been divulged so whether or not they are selling is just an assumption.
Q - Is it possible that GGI is selling those 780 M into the market though?
A - Yes, it is possible.
Q - What position of the A/S do the current temporary management of FCCN hold?
A - I have to check the Form 3's. (placed on hold). No form 3's have been filed, so if they hold any, it is very little.
Q - My understanding right now is that the tradeable float is 70 - 75 Million. Is that accurate?
A - No. Look at it this way. A/S is 920 Million. Minus the 780 M in escrow. That leaves about 140 Million in tradeable float.
Q - Is the 2nd quarter still looking like the time for the release of the audited financials for AERO.
A - Yes.
Q - Can we expect any news or filings in the very near future?
A - Yes. We are going to be agressive with keeping the shareholders abreast of current events, and when AERO does something we'll let it be known. With that said, we have a proxy filing due 10 days from the form 14. We have a filing coming out on Monday.
end.
Hope that helps on this red day.
Also, if you question what I've asked him, call yourself, and ask if he just spoke with Jim.
