Replies to post #12070 on Frontier Energy Corp. (FRGY)

[Ownwallstreet]

The share structure is so small and up to date, this is gonna fly imhfo! Weeeeeee Thanks again stockbully!

[Lockman]

So you feel the company has been selling large amounts of stock, is that right? The difference between the O/S and the float has change by 661500 shares. Is that major dilution?

[control it]

looks like they have 9mil to sell



On May 1, 2008, the Company was served with a summons and complaint in an
action for the repayment of a debt owed to its former legal counsel in the
amount of $33,786 (the "Debt") which the Company has carried as a payable on
its financial statements. This obligation was transferred to Corporate Debt
Solutions, Inc. (the "Creditor"). This action was brought by the Creditor
against the Company in the Circuit Court of the Twelfth Judicial Circuit,
Sarasota County, Florida (the "Court"), Case Number 2008-CA-006952-NC, and
asserted failure to pay the Debt, plus sums due for interest (the "Action").
Also on May 1, 2008, the Company and the Creditor entered into a settlement
agreement (the "Settlement Agreement") in which the creditor agreed to dismiss
the Action, release the company from any further obligations to the Creditor,
plus all accrued interest, through the issuance of 15,357,273 shares of the
Company's common stock to the Creditor at a price of $0.0022 per share,
pursuant to a court order (the "Order"), in a manner intended to be exempt from
the registration provisions of the Securities Act of 1933, as amended (the
"Act"), pursuant to Section 3(a)(10) of the Act. On May 2, 2008, the Court
held a "fairness" hearing with respect to the Settlement Agreement, pursuant to
Section 3(a)(10) of the Act. On May 2, 2008, the Court issued the Order,
approving the Settlement Agreement and determining that the Settlement
Agreement was "fair" within the meaning of section 3(a)(10) of the Act. The
Court further ordered that the issuance of the Company's common stock to the
Creditor pursuant to the Settlement Agreement and the resale of such shares by
the Creditor, "assuming satisfaction of all other securities laws and
regulations," will be exempt from registration under the Act pursuant to
Section 3(a)(10).

On May 7, 2008, in accordance with the Settlement Agreement and the Order, the
Company instructed its transfer agent to issue 9,000,000 shares of unrestricted
common stock according to the instructions of the Creditor. The Company has
the obligation to issue an additional 6,357,273 shares of common stock on the
demand of the Creditor.