Fonon Corp. (fka FNON)

[pitboss22]

First off, CCE IS Dr. Soon-Shiong. At least, he is listed as the SOLE MEMBER.

Second, why do you say he "got on board"? He bought the notes and foreclosed. How is that getting on board?

"As referenced in its Schedule 13G filed with the Commission on July 5, 2011, CCE has acquired all of the Company’s outstanding senior notes, including, but not limited to, the 2006, 2007 and 2008 senior notes. On July 6, 2011, CCE provided the Company notice of default under the senior notes, declaring all amounts thereunder due and payable in full, and of CCE’s intent to exercise its rights and remedies against our assets, including possibly foreclosing on all of our assets. In addition to the intellectual property already exclusively licensed to CCE pursuant to the IP License described in Items 1.01 and 2.01 of this Current Report, such a foreclosure or other exercise of remedies would likely cover our remaining inventory and any and all other assets of the Company."

Doesn't sound like "on board" to me.

By the way, there is nothing "misleading" about the above. It is the last part of the 8k. Dr. Soon-Shiong is listed as the SOLE MEMBER of CCE in the signature blocks of the 13G.

Check them if you don't believe me.