First Uranium Corporation T.FIU

2 Billion new shares coming in June

[valuearb]

At 7.5-8 cents, dilution to pay back the debenture holders is going to cost nearly 2 billion new shares.

If shareholders refuse to authorize the shares, the debenture holders get the mines and shareholders nothing.

I've never seen a group of shareholders so intent on self-immolation. Things didn't work out,  no other bidders emerged (except for a joke of a russian offer), so shareholders are going to vote against a deal that will net 20-25 cents to hold shares that will be worth a couple pennies after the dilution (with another potential multi-billion share dilutioin a year from now).

The buyers and debenture holders win either way, but probably do better if shareholders vote no. They must be laughing themselves silly.

[colt451]

You joined April 9th, 2012 and posted the same day that you only bought shares in the company a few weeks prior to that, I would assume you bought around the end of March then? Well...I hate to break it to you but your share price estimates are completely off. If you would like to break down those numbers for me, and show me how you got 0.20-0.25 then I would love to hear it, because this is what

[dubsbs]

@colt451 i thought there was 30 mill total between the two escrow funds.

[colt451]

There is, the debenture holders get 4.6M, and shareholders 25.4M - but again, there will not be an escrow fund for shareholders because of the reasons I detailed in my previous post.