FormCap Corp (FRMC)

[moondoggy]

Parties were seeking counsel before signing. Last week's meeting was just to come to an agreement. Nothing will be filed until the deal is finalized.

Regarding the percieved threat of the SEC... Refer to LBSR's notice of default and the time that was taken to work out an agreement (just over a month). I do not believe there is an immediate danger.

Prior management is a friend of the real estate holding group holding the debenture and aiding in the process of coming to an agreement. A post-counsel follow-up meeting is scheduled for next week. Larry stated we will know the outcome by then.

If you do not think it will be worked out, then there is no reason for investment in this stock. If you think it will be worked out, then here is your window of opportunity.

Once this is behind us, there are apparently other interested parties in exploration work.