Replies to post #486 on Fonon Corp. (fka FNON)

[pitboss22]

It doesn't make sense for Sandell to sell the notes to someone who immediately foreclosed and still hold shares, but of course you are free to "believe" whatever you wish.

Since the sale did not occur until July, does it really make any difference?

[pitboss22]

Caerus, you said, "and theres no way to conclude Sandell has sold anything. the notes MAY have been bought by Shriong..." [sic]

I refer you to the 8k, the portion you referred to as "the extra part":

"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." [Emphasis added]

I do believe that proves unequivocally that Sandell DID sell. Again, as I stated previously, It would not make sense for Sandell to sell the notes to someone who immediately foreclosed and still hold any shares.