Processing Division Futura still intends to reacquire their processing division sometime between Jan 15, 2012 and June 30, 2012. This appears in Note 24 on their financial statements. The division was valued at $8 million when it was first transferred in 2010 (or roughly a 4 cents a share value).
The $7,145,000 promissory note would be forgiven. The remaining difference between the face value of the note and fair market value of the division will be made up by issuing Futura shares. I don't know if the value of the division has increased since 2010, but probably has. I hope Futura's stock price will be higher when this reaquisition takes place.
Other than that, I too am interested about their cash position and progress in Georgia by ALG Partnership Marketing. WD CoAuto won't start promoting until Feb 15, 2012. I wonder how the handful of western dealers who have signed up came to know about Futura. They are spread out all over.
I think promotional material has to be sent out to each dealer explaining the Aeroplan program and that a Futura rep will visit upon accepting an invitation. Also by now, some evidence of success of the program should be available from the dealers who first signed up in Ontario. Has it made a difference, or is it too early to say. Need testimonials with numbers to back them up.
For example,...business is up 40% in the auto repair dept and from customers who are Aeroplan members. It's working for us.