TSXV:FCO.H - Post by User
Comment by
JohnEStromJron Jul 19, 2010 7:11pm
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Post# 17280250
RE: RE: Info about the present status
RE: RE: Info about the present statusDoug,
You should know by now I have no aliases. As for "Empty Chairs at Empty Tables" perhaps we can share more of the libretto from "Les Miserables" later but I'm not sure it's relevant to FCO or to Peter Grandich's letter.
I thought his letter was generally favorable but have to disagree on the need to "top up" as he put it. If FCO management had any faith in their ability for permanent financing they would have not needed to pay a huge premium for an "unsecured" loan. I would think we would have gotten an excellent 36 month loan without paying 12%-15%, 1.33 million shares and 666,678 warrants plus a seat on the board. If they don't think they can get a loan in 36 months then I think their and our goose is cooked. Peter Grandich didn't address the very high price we paid for that loan but I think it was way too much and I'd rather they used at least some of the assets to collateralize the loan on much more favorable terms. Still, people do follow Grandich so this has given the stock a boost. For now. If they don't put together a package soon, though, it's be heading right back down again.