Replies to post #32309 on Freestone Resources Inc. (fka FSNR)

[tarballmonger]

Oh My!! Lets see if we can review some of the basics here.
1. Cronin bought CTR via Dynamic Energy which assigned the rights to Infinity (IWSI PS Plan).

from the 10Q you highlighted...

On June 1, 2012, the Company, through its wholly owned subsidiary, DEDC, entered into an assignment and assumption agreement (“Assignment Agreement”) with IWSI PS Plan, an entity controlled by Charles R. Cronin, Jr., a shareholder and director of the Company, and C.C. Crawford Retreading Company, Inc. (“CTR”), pursuant to which DEDC assigned its rights to acquire CTR to IWSI PS Plan (“IWSI PS”). On March 20, 2012, DEDC had entered into a stock purchase agreement with CTR in which DEDC agreed to acquire 100% of the issued and outstanding common shares of CTR. See Note 8. Commitments and Contractual Obligations – Stock Purchase Agreement - C.C. Crawford Retreading Company, Inc., for discussion.

2. Dynamic failed to exercise its option and so IWSI BOUGHT CTR!!!
3. Cronin signed the Sales Agreement to fsnr - see the infamous 8K.
4. Therefore, Cronin by way of Dynamic and IWSI sold it to fsnr.
5. Cronin is still in the game as he holds the paper on the real estate.
6. What DYNAMIS' angle is, is yet to be made visible... but it will be. It can not possibly be as simple as they think Clayton is a genius and they want to support him. They will undoubtedly hold the aces in this hand.

One other thought: If Cronin was so ASTUTE as to recognize the megabuck opportunity in this tire processing, do you think he would give up all of his leverage with this project for only $500,000???

Fish are biting and they're a whole lot more interesting than watching the "paint" dry on .16 -.18
Y'all have a great day in fsnr-land where nothing is what it seems!