Franklin Mining, Inc. (FMNJ)

[vozmil]

New. I warned but some board members were not happy about that and wrote that some people here are always negative. Here is the post.
Posted by: vozmil Member Level Date: Tuesday, August 03, 2010 10:36:11 PM
In reply to: imanjen13 who wrote msg# 36383 Post # of 36489 Send a link via email Share on Facebook Tweet this post
The dreadful part is hidden in the last line of this paragraph from memo on web site.

" On January 4, 2010, Franklin entered into an agreement with an accredited institutional investor to provide $32 million for project financing. These funds are intended for use in developing our mining projects (principally our Escala Mina I joint-venture in Bolivia) as well as other energy, real estate and infrastructure projects. The agreement specified that funds would be received in tranches and would include a Bridge Loan, Working Capital, Term Loans and Equity. Terms and conditions of the agreement further stated that funds could be tied to the equity structure of the Company, could be structured as a convertible debenture or (in the case of a loan) might, at some future point, become a convertible debenture. Under this Condition, some additional increase in common shares would probably be required."

Sorry! do not know how high lighting the sentence works.