First Corp. (fka FSTC)

[roger wilco]

Investment in Gecko Landmarks, Ltd

From the FirstCorp 10Q filing:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8783160

 
Effective June 4, 2012, The Company conducted the closing of its Securities Subscription and Option Agreement with Gecko Landmarks Limited, a limited liability company formed under the laws of Finland. First Corporation purchased a 10% equity interest in Gecko for an aggregate purchase price of $1,000,000. The purchase was funded by issuance of convertible notes in the original principal amount of $1,000,000. (Note 6).
 
The Company has an option to acquire an additional 23% of the share capital of Gecko within six (6) months of the date of the LOI for an amount of 3.45 million dollars ($3,450,000). As of June 30, 2012, the Company has not exercised the option for additional ownership in Gecko.