Good Morning All!! Just thought I'd repost my post from last night for all those who may have missed it..
Posted by: ToddWH02
In reply to: None Date:9/27/2007 8:04:44 PM
Post #of 77088
OK Guys.. just spoke with Andrew.. and I'll preface my statements with two things.. first I mis-spoke on a couple of things regarding timelines and I apologize for that.. as Andrew put it, things are very "fluid", therefore what he told me a few weeks ago may or may not apply now.. that is why they want us to pay attention to the press releases.. second, I have spoken with Andrew a number of times over the past nine months and at no time have I felt that he was anywhere close to as excited as he was today about this transaction and the goings on at AERO.. I highly suggest that anybody who has questions give him a call..
Anyway, here goes..
1) The 10K will be out sometime tomorrow.. while they were shooting for pre-open it really depends on when the Auditor review is complete and the sign off is given for them to file. Nothing that he is aware of will prevent that from happening tomorrow, but there is no guarantee it will be first thing tomorrow.. so don't freak out if it's a bit late.
2) The filing will be followed up by a PR which should announce the filing and emphasize and perhaps clarify some of it's disclosures.. for example, the status of the debenture will be included in the 10K up to a very recent date.. Andrew though it would be "days" not "weeks".. and it may very well show the debenture balance not fully redeemed.. he did not know the status.. but the PR should then emphasize that per the agreement, the debenture will not survive the close of the acquisition.. i.e. any remaining balance will be cancelled.. in addition to the remaining escrowed shares.
3) The close of the merger is currently planned for sometime next week.. I thought it would be Monday but Andrew said that it could be anytime next week.. they haven't definitively stated the day because AERO and FCCN management have to get together for the physical exchange of shares and they may not be able to arrange it for Monday.. Again the whole thing should be fairly seamless for us.. i.e. no cert exch, trading restrictions.
4) If the acquisition does not take place on Monday or Tuesday, he anticipated releasing a PR to allay the fears of some and let everybody know that everything is still on schedule.
5) 4 days after the exchange, the 8k will be filed.. Andrew actually thought they may lean towards having it straddle a weekend to allow the lawyers more time to review the filing.. and there is going to be alot of disclosures in it..such as the share exchange specifics, AERO audited fins.. details on AERO's new board.. etc. He seemed pretty excited about it. I asked him about the % that we will get of AERO and he said he knew it but wouldn't tell me..lol.. I could almost see him smiling when I told him my prediction.. which is 18%. His only comment was that Mr. Peacock believes he has delivered an excellent value for shareholders and that they will be very pleased.
6) He thought that AERO would want to affectuate a symbol change ASAP.. although he did mention that the other option is to call an annual meeting and schedule it around that timeline.. still he was leaning towards a quick changeover to the new symbol.. Again though, it should be completely seamless for us.
7) Andrew fully anticipates that AERO will want to begin telling their story immediately.. And he seemed really excited about what AERO has going on... Honestly, I have spoken with Andrew many, many times and I have never heard so much excitement and optimism in his voice.. He said there are definitely exciting things going on at AERO and he can't wait to get on the other side of this transaction so that they can come out!!
Anyway, hopefully that clarifies some things.. sorry for being so long-winded.. but I wanted to get it all out.. I have to say after this conversation I am even more pumped about that potential here.. call me a pumper, I DON'T CARE!!!
