Fancamp Exploration Ltd V.FNC

My take on the delay

[FromSudbury]

"ongoing consideration and review of the accounting presentation in respect of certain of the Company’s equity security holdings and the fair value assessment of certain convertible promissory notes and warrants held by the Company."

I'm thinking they are having difficulty assigning a FMV to the secured convertable promisory note of $34,5000,000 with KWG.

If the note converts to shares, at what price do they convert, and therefore, how many KWG shares would FNC hold?

FNC's current market cap amounts to the total value of the CIA shares, so currently the market is giving little to no consideration for that promisory note. 

I'm interested if anyone has any further insight into this.

[Maxmoe]

I'd have to review the terms of that note with a fine toothed comb to provide useful insight into what the note is worth. I will suggest the solution is very, very, simple. Any way you look at it the value is completely out of date by now anyway. The statements are from APRIL ! This is not some new esoteric accounting theory discussion. There is , I'm certain, other issues resulting in

[Maxmoe]

As for the current market valuation of fnc shares at 10 cents, there are multiple moving parts to consider what is "fair" or what is "cheap". Yes the 10 cents roughly equates to the value of the cia shares. There was also cash until the treasury was pillaged for investments in non arms length deals like EDM. There was very little cash burn before the hungry mouths of the new

[FromSudbury]

From last years financial statements: Marketable Securities Marketable securities consist of common shares and warrants of publicly-traded companies listed on the TSX Venture Exchange as well as common shares of a private company. Marketable securities are classified as FVTPL and are recorded at their fair values using quoted market prices at the statement of financial position date. Subsequent

[Maxmoe]

It's patently absurd that the company claims to be "working" or "diligently" or especially "expeditiously" !!!  These statements are for APRIL!!!  The only real question is what ulterior motive is skulking in the shadows to explain the very intentional delay tactic.