First Global Data Ltd FGBDF

Just a little reminder

[lilbugger]

Proposing to roll back a company and rolling back a company are two different things. First it has get passed by the shareholders which from the noise that is getting made is probably unlikely. Second you have to make an application to the TSV-V where among other things the Company has to show that it will meet minimum distribution requirements. That's 150 shareholders holding a board lot or more. Now due to the fact that the Company only wants 1 million shares outstanding after the rollback will mean there will have to be a least 150 shareholders holding 8,000 shares or more. This is a fair number of shareholders and as they didn't try a little more reasonable rollback ratio it is unlikely it will be passed this year. The problem with that is that no one in their right mind would subscribe to a private placement at 10 cents a share when you can buy it off the market with no hold period for a lot less. I think the Company is looking for a long broke time before it ever has working capital again which happens to be another TSX requirement for minimum listing. So it could even get suspended due to the fact you don't want to do the rollback. I wonder which option you would rather.