First Uranium Corporation T.FIU

why the big shareholders changed their tune and ok

[flyinghorse]

Publically, they said they had no choice. 33 cents is certainly better than 0. Privately?

 

I think 33 cents has to be a conservative figure. The expected FX fluctuations should be already priced in. The last thing the management wants is a law suit, when there is nothing left for them to fall back on. after distribution.

 

But I'm more interested to know what will happen afterwards. All the shareholders will still have their shares. Is the company going to void them, close shop, and declare fiu will no longer exists? Or somehow restart all over again, in which case  these shares will still be worth something. Is that why the big shareholders decided to go along?

 

I'm speculating here, FWIW.

[botched$]

I heard they may stay trading on the tsx or delist and move to the NSX to trade along with the other companies that dont have any operations.

[flyinghorse]

You are right. That's probably what they are going to do. These shares could be worth more than we think a couple of years down the road. There is no point selling here. We have at least 22 cents in the bank, plus 11 cents, more or less. If Greece exists euro, USD will rise.

[investorrook]

hey Flyinghorse, what do you mean by 22cents in the bank, plus 11 cents.. i'm not following this math.. the stock is traded at 24 cents now. Appreciate your feedback

[flyinghorse]

Hi, there. 22 cents is the first distribution after the sale, and then there is 30 million in escrow will be distributed later after it is released. That 11 cents is not guaranteed, and could be less, depending on if there is any claim from the buyers arising from the two assets they bought. But, I think when all is said and done, we will have 33 cents at least, because I think this is a

[dubsbs]

If things go according to the BOD there will be two payouts. first one in july for hopefully .22. Second one from left over escrow accounts hopefully end of dec bigining of jan .11. and maybe a couple of pennies after the company winds up remaining assets of company.. The existing share will be replaced with a unit consisting of class a & class b shares to facilitate the two distributions

[lefmike1]

Sorry I have to interject here....  been reading  but take your blinders off...  then there is 30 million in escrow will be distributed later after it is released. That 11 cents is not guaranteed, and could be less, depending on if there is any claim from the buyers arising from the two assets they bought   The company have as much as said that there will be claims...  The

[kingyahoo]

Why the big shareholders changed their mind is now irrelevant. Either you take your money home, or you rely on a promisory note. There are too many good stocks to buy at this price to speculate. It is lunacy. It is rolling the dice. Also, when the company is sold, it is caput, gone. Are you guys expecting to get the money upon liquidation and expect to have shares in Anglo or Gold, or whatever? If

[orbit_room]

Lefmike1...just imagine what was said in private between Olma, Stratton, Patto and the FIU BODs to get the votes. I don't think FIU is going to renege on the .33. They don't want the lawsuits.

[Hourglass11]

The .33 is pie in the sky. FIU has signed contracts with GO anf AGA saying that the operations must be profitable when taken over. If there is no money left in the kitty after satisfying their sales contracts, what do Olma, Stratton, Patto expect to get from FIU by suing? The assets have been sold and there is NOTHING left. The lawsuits would take years and the only left is a shell company that

[flyinghorse]

Pie in the sky? If it were, big shareholders would have signed on?

[Hourglass11]

Only time will tell, but you are depending on the "word" of the BOD who have made a career of lying to it's shareholders!   Hourglass11

[flyinghorse]

I agree this is a stinking BOD. Otherwise, we wouldn't have been in this situation. That said, I believe 33 cents will have to be there. Otherwise, Olma, et all wouldn't have signed on or stopped legal proceedings against them. You are right only time will tell the true story. Right now, it trades at 23-24 cents, which shows the market believes the first distribution of 22

[lefmike1]

Orbit Whatever and flying turkey/horse,   I have absolutely nothing to gain here,  I sold my 116K shares that I bought for an average price of .98  I sold them for 0.2456 cents... Okay you said that there is a guarantee  ARE YOU ON  Huffing CRACK?   the only guarantee you will be assured of from this company is that the sun will rise tomorrow... Money?? 

[flyinghorse]

You are obviously in pain. Okay, I'll give you some slack. BtW, you better put up a better photo there. That looks really like a turkey, pardon my French.