posted
Looks like there may be more shares being sold to cover this loan?
June 25, 2007 - 9:14 AM EDT
Franchise Capital Corporation Announces Increase in Loan to Aero Exhaust Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that the company has increased the amount of the revolving commercial loan it is providing to Aero Exhaust, Inc. by $400,000 for a total of $1.9 million.
According to the terms of the loan agreement between Aero Exhaust and Franchise Capital dated January 10, 2007, the value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes. The additional $400,000, which has been received by Aero Exhaust and is the subject of an amendment to the original loan agreement between the two companies, will increase the value that is convertible into Aero Exhaust stock at the close of the definitive share exchange agreement.
Aero Exhaust mufflers are an exclusive NASCAR Performance product and carry the prestigious NASCAR brand on product, packaging and related media.
The additional capital provided by Franchise Capital to Aero Exhaust is being utilized, in part, to launch new Aero product lines, including a new line of direct fit mufflers, a new line of full turbo and cat-back diesel exhaust systems, and a new diesel line of exhaust systems. The direct fit mufflers, which combine the technology of Aero Exhaust's turbine and stealth lines and are designed to fit a variety of automobiles without modifying the existing exhaust pipes, are currently in production with availability estimated for the month of July 2007. The new line of full turbo and cat-back diesel exhaust systems, which include all parts from the catalytic converter, turbo charger or muffler back to the tailpipe, has also been completed and is currently in production with product expected to be available for distribution by July 2007.
"We increased the amount of the loan provided to Aero Exhaust, which not only assures Franchise Capital stockholders of a larger position in the final share exchange with Aero but also allows us to introduce the most complete picture of Aero into the marketplace, thus maximizing the potential valuation of the company," commented Steven R. Peacock, chief executive officer of Franchise Capital Corporation. "These two elements were the key to the decision to provide additional funding for Aero's product rollouts."
In order to report the most complete and accurate picture of Aero Exhaust's financial condition when the company is introduced to the public markets, Franchise Capital and Aero Exhaust have agreed to reschedule the expected close of the acquisition. By rescheduling the anticipated close of the acquisition, the planned rollouts of new Aero products and a more accurate representation of their sales impact will be included in the financial results disclosed by Aero as part of the acquisition process.
Aero Exhaust and Franchise Capital will announce a new closing date once it has been definitively determined.
Bryan Hunsaker, CEO of Aero Exhaust, Inc., commented, "We would like to reiterate that Aero Exhaust management is firmly committed to this acquisition and that we look forward to closing the transaction. We intend to keep both our present and future shareholders informed regarding the ongoing activities of the company, including additional details of our product rollouts and new distribution agreements that we expect to ensure the future success of a broad range of Aero products," Mr. Hunsaker added.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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When are you people going to learn that every single pink sheet stock is scamming you out of your hard earned money in my opinion! For Christ sake's invest in REAL companies like Blackstone Group (BX), etc etc ..
I bought Mastercard (MA) at $36 per share last year. It's now over $165 !! Stop wasting your time and money with Pink Sheets!
See you when FCCN hits around .002 this week. Yes, it will happen in my opinion.
Posts: 630 | Registered: Jun 2006
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C'mon guys, all kidding, 'bashing', pumping aside. This is textbook Pink Sheet Stock activity. Right from the blueprints.
Posts: 630 | Registered: Jun 2006
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quote:Originally posted by Uncle Smelly: Well well well !
What do we have here?
a DELAY...
GEE WHAT A SURPRISE.
When are you people going to learn that every single pink sheet stock is scamming you out of your hard earned money in my opinion! For Christ sake's invest in REAL companies like Blackstone Group (BX), etc etc ..
I bought Mastercard (MA) at $36 per share last year. It's now over $165 !! Stop wasting your time and money with Pink Sheets!
See you when FCCN hits around .002 this week. Yes, it will happen in my opinion.
Why dont you start a thread on the ".11 and up" for your mastercard then.
Posts: 135 | Registered: Nov 2006
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posted
[QUOTE]Originally posted by 10of13: [QB] Looks like there may be more shares being sold to cover this loan?
According to this section of the PR the shares have already been sold and the money received, I'm not saying I'm pleased with the PR, but I think the dilution has already taken place. As far as Smelly is concerned.....COMPLAIN COMPLAIN COMPLAIN...if you don't like it, don't buy it!!
"According to the terms of the loan agreement between Aero Exhaust and Franchise Capital dated January 10, 2007, the value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes. The additional $400,000, which has been received by Aero Exhaust and is the subject of an amendment to the original loan agreement between the two companies, will increase the value that is convertible into Aero Exhaust stock at the close of the definitive share exchange agreement".
posted
In my opinion this is going to bottom out around .005 if not lower.
A real shame, a lot of good people are losing a lot of good money because once again a pink sheet company has not done what they said they would do, and then subsequently dilluted!
How many have come before FCCN? CSHD, GZFX, SLJB, IBZT, IPRE... the list goes on and on.
God help you all if they announce the merger will not be complete until q3 or q4, you can put the nail in the coffin on this one because by that time all longs will be gone and this will be at .001.
I'm not the villan here people, I'm not the one who promised you for six months that the merger would be completed by June 30th, and then pulled the rug from under you, dilluted more, and gave you no date to look forward to.
That was Peacock and Hunsaker.
Posts: 630 | Registered: Jun 2006
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posted
Pewwwwwwwww !! Oh, sorry smelly. Obvious why you have that name. ______________________________________ Poor Smelly,
A head full of rocks.
Poor smelly,
cannot find good in any stocks.
Poor Smelly,
FCCN too hard for him to reach.
Poor Smelly,
just learned all FCCN holders are gonna be rich and are living it up on the BEACH !! _______________________________________ Sorry, my rymes stink, corny , etc...
Posts: 135 | Registered: Nov 2006
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posted
Franchise Capital Corporation Issues Statement From Aero Exhaust CEO Jun 28, 2007 9:18:00 AM TEMECULA, CA -- (MARKETWIRE) -- 06/28/07 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today issued a statement from Bryan Hunsaker, chief executive officer of Aero Exhaust, Inc., in which he addresses the rescheduling of the close of Franchise Capital's acquisition of Aero Exhaust.
Aero Exhaust mufflers are an exclusive NASCAR Performance product and carry the prestigious NASCAR brand on product, packaging and related media.
Franchise Capital recently announced that in order to report the most complete and accurate picture of Aero Exhaust's financial condition when the company is introduced to the public markets, the close of Franchise Capital's acquisition of Aero has been rescheduled. A new closing date is expected to be announced in the next several weeks.
By rescheduling the anticipated close of the acquisition, Franchise Capital and Aero Exhaust believe that a more accurate representation of the sales impact of ongoing new product rollouts can be included in Aero's financial results that will be disclosed as part of the closing process.
Mr. Hunsaker stated, "It was determined that in order to continue with our schedule of product rollouts and to have a full representative quarter of financials that include the sales of these new products, rescheduling the close of Aero's acquisition by Franchise Capital would be in the best interests of both companies' shareholders.
"I would like to reiterate that Aero Exhaust is 100% committed to the acquisition. The rescheduling was done to ensure the best possible timing to deliver value for shareholders on both sides of the transaction. Based on our knowledge of the automotive industry, particularly the segments that are the target of Aero product lines, we believe that our introduction to the public markets will be much more effective with the proper timing of the close," said Mr. Hunsaker.
"I would also like to assure Franchise Capital shareholders that Aero management is planning to continue the levels of transparency and communication established by Franchise Capital's management team, headed by Steve Peacock. We will provide as much insight as possible on the operations of Aero, so that Franchise Capital shareholders, who we view as an important part of our future shareholder base, can become more familiar with our business and its upside potential," continued Mr. Hunsaker.
"Finally, I would like to thank Franchise Capital shareholders for their patience as we complete the steps necessary to ensure the best possible launch of Aero as a public company. More information on the close will be forthcoming, and I look forward to communicating directly with them in the coming weeks. This will likely include future interviews with questions submitted by shareholders and other similar forums," Mr. Hunsaker added.
To sign up to receive information by email directly from Franchise Capital Corporation whenever new press releases, investor newsletters, SEC filings, and other new material is issued by the company, please visit http://www.franchisecapitalcorp.net.
About Aero Exhaust:
Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate web site, www.aeroexhaust.com.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2005 filed with the Securities and Exchange Commission.
CONTACT: Gemini Financial Communications, Inc. A. Beyer 951-587-8072 Email Contact
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
Nice flip today if you play those....I do think it will be a while now, but I think the merger will happen. Hopefully we see real reasons for the delay soon - and hopefully they coach Hunsaker before he puts out any more PRs
:-)
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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quote:Originally posted by stockcop: And there it is, THE DELAY !!
Trying to not sound like smelly, but he was right about that.
Several weeks ??
Of course I'm right, 99.9% of Pink Sheet stocks are full of sh_t and never make the deadlines they self impose. This was definately not the .1% that does - you could see that months ago when they missed deadlines on fins.
Hell even I thought if they delay it will be a month or so. This is going to take another 6 months.
By that time GGI will have dilluted this to oblivion. If I owned shares here I would wait for the dead cat bounce over .01 and dump and find a real stock to invest in. What a joke.
Posts: 630 | Registered: Jun 2006
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quote:Originally posted by Uncle Smelly: There really is nothing I can say here, lol.
Hunsaker said it all today - We're not telling you sh_t for 'weeks' and it will be at least a quarter before we merge...
What a joke, Andrew BS'd you all for months on end telling you everything was on track for June.
In my opinion there was never any intention of merging this in June, what a shame. Low was .007 - that's just the beginning.
Who wants to hold a stinky pinky being dilluted to death by GGI for months on end while 'maybe' the merger will get done in 2007?
Lunacy.
Been waiting for you to get home from work. Now we can endure your relentless stock attacks until it is beddy bye time.
Posts: 135 | Registered: Nov 2006
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