Fonon Corp. (fka FNON)

[pitboss22]

It was not three separate acquisitions but a single acquisition through a specially created holding company, Raptor Acquisition LLC, funded through the financial entity, California Capital Equity LLC, both owned by Dr. Shiong.

There appears to be no acquisition of stock from the company. If you do a little checking you will find that he purchased the convertible notes from the previous lender.

The company was paying the interest on the notes only in stock each quarter. That is where the 947,810 shares of Common Stock he actually holds/held (see Item 4 of the Schedule 13G). The 9,646,922 shares is merely the maximum amount he can hold (9.9%) if he exercised his conversion privilege, not shares he actually holds at the moment.