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Re: DERBENSKI post# 81313

Thursday, 10/04/2007 9:13:25 AM

Thursday, October 04, 2007 9:13:25 AM

Post# of 162847
Satisfaction of the debenture is a two step process.

STEP 1: FCCN pays GGI the shares held in escrow which GGI is entitled to be paid.

STEP 2: GGI sells those shares which FCCN has already paid them.

The 10K clearly establishes that STEP 1, the paying of shares from FCCN to GGI had been fully completed. Therefore FCCN has no further legal obligation to GGI. Therefore no litigation is forthcoming.

It was FCCN's legal obligation to pay GGI in shares. Once FCCN had released all of the shares to GGI which GGI was owed then the debenture obligation became fully and legally paid.

As the 10K so clearly states:

"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."

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