I know we don't have all the details yet, and we have went over everything 900 times on the FCCN board, but I would like to try and recap the GGI deal for anybody who has questions or concerns. All of this will be in my opinion, nothing factual what so ever. If I am off the mark on anything please let me know.
1) GGI had a prior illegal dealing with previous FCCN owners.
2) Instead of going through an everlasting legal battle, Peacock found a brilliant way to include everybody in the piece of the pie.
3) Use legal action as a scare tactic against GGI, who we needed to fund the 1.5 million dollar merger cost to Aero. In turn, allow GGI to keep there HUGE portion of the O/S, but use the 144 restricted to keep all fair. Can't sell for at least 1 year, and even then has to be approved by the current mngt. at the time.
4) Aero gets their money, FCCN doesn't have to worry about old debt, GGI is now a partner in the entire merger process. And oh yeah, FCCN shareholders get 15% of the O/S at time of completion.
5)So all that is left for FCCN; who said by the end of the month to be complete, is to get current with SEC filings, get the def.14 out, have the shareholder conf, and get out of BDC statu which we will all vote on.
6) Once all this happens, within 2 two weeks, there will be a clear path to merger completion. IMO IMO
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