Low Quality Debentures Swap for Illiquid/Low Price Equitie? Once again, based on FNR's history, they propose another swap of Debentures for Shares.
Your swaping Illiquid Low Quaility Debentures for Illiquid Equities, refer to trading activity for FNR, classifies as Illiquid on both Debentures and Shares, my opinion based on trading hostory and declining price over the last several years, as well as refer to the Financial Auditors comments - Emphasis of Matter, on Sedar.
The only upside for the Debenture holders that they may be able to Exit FNR in their sale of these shares from the swap and get a few cents back, that is if they can sell, refer to lack of liquidity of shares and trading activity.
Over the years we have seen FNR fall from the $3.50 plus area to now 6 cents, on a stock that was touted by MGMT and borkers, public stock of going a lot higher $10 plus stock??? Refer to Public comments by Brokers and MGMT at various trade shows, conferences. But, this is not just isolated to FNR the entire MKT is littered with such stocks and projections globally. Look at Glencore, a Senior who is in the process of wiping a lot of investors.
In my humble opinion, FNR shall fall under 3 cents and go no bid along with many other resource and junior and mid size stocks, based on the resource mkts, financial mkts, funding issues for many companies in these MKTS. FNR is not the only company this applies to so many other companies.