If they confirm the merger by thurs. or fri. A.M. we should be O.K.
If not I see a sharp sell off on Fri. especially in the P.M. if nothing is heard.
Just Bumping the last P.R. so we can verify their time frames.
This is the line that could have a few meanings IMO
"Franchise Capital and Aero Exhaust expect to close the acquisition during the week of September 30, 2007"
Is that the previous week of the 24th. to the 28th. or the 1st. to the 5th.
Anyone??
Franchise Capital Corporation Announces Anticipated Closing Schedule for Acquisition of Aero Exhaust Monday September 17, 9:51 am ET
MURRIETA, CA--(MARKET WIRE)--Sep 17, 2007 -- Franchise Capital Corporation (Other OTC:FCCN.PK - News) today announced the anticipated schedule for the close of the company's acquisition of Aero Exhaust, Inc., which has been set for the week of September 30, 2007. Aero Exhaust (www.aeroexhaust.com) is a leader in performance exhaust airflow technology and NASCAR Performance Partner. Franchise Capital, a fully reporting "shell" company, has been positioned to serve as the public vehicle for Aero Exhaust and has provided $1.9 million in financing in the form of a commercial loan to Aero as part of the transaction. The value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes.
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In order to maintain the timely reporting of the public company financials, Franchise Capital expects to file its annual report for the 2007 fiscal year, which ended on June 30, 2007, by Friday, September 28, 2007.
Franchise Capital and Aero Exhaust expect to close the acquisition during the week of September 30, 2007. Within four days of the close of the transaction, a Current Report on Form 8-K will be filed with the Securities and Exchange Commission, which will include the details of the close, the financials of Aero Exhaust, the consolidated financials of Franchise Capital including the Aero financials, and the terms of the acquisition including the final share exchange between the two companies.
Shortly thereafter, the company will file the appropriate documents to execute a name change and trading symbol change to properly reflect the fact that Aero Exhaust will be the focus of its operations.
Current Franchise Capital shareholders are not expected to be required to tender shares as part of the close of the transaction. Aero Exhaust shareholders will, as part of the close, tender their shares of Aero Exhaust and will be issued restricted common stock of the public company in a percentage commensurate to their percentage ownership of Aero Exhaust and the final percentage of Franchise Capital stock that Aero Exhaust shareholders will receive in the transaction.
"As we prepare to close the acquisition of Aero Exhaust, Franchise Capital management thought it would be helpful to lay out the expected closing schedule for our shareholders," stated chief executive officer Steven R. Peacock. "This transaction has generated a significant following in the public markets, and we want to keep Franchise Capital stockholders apprised of our expectations related to the timing of the close, the disclosure of Aero's audited financials, the name change and stock symbol change, and the exchange of private shares of Aero Exhaust for shares of the public company.
"We hope this clarifies the process to some extent, and we will endeavor to keep shareholders updated as the closing schedule is executed. Beyond just the close itself, we continue to be excited by the possibilities of the Aero acquisition, its future potential as a public company and the long-term value that we expect to be delivered to shareholders as a result of this transaction," Mr. Peacock added.
To sign up to receive information by email directly from Franchise Capital Corporation, including notices when the company issues future investor newsletters, please visit http://www.franchisecapitalcorp.net.Posts: 6410 | Registered: Jul 2006
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posted
IMO Surf..the "week of the 30th would be NEXT Monday thourhg Friday...NOT this week... HOWEVER the first step would need to be the financials filed BY this FRIDAY the 28th if they don't come across the wires by about 2-3 pm...this will start falling then...if they don't get filed after market close on Friday? or prior to Monday open? I think it will fall hard Monday a.m. I am hoping those financials come by this Thursday in order to keep the momo going for this...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
I agree with the above statement - if no filing by 2pm Friday this will tank hard, if that filing isn't out by Monday open this is subpenny again in an hour.
The sad thing is that Aero Exhaust is a good company with a great product. I just have that 'feeling' again that something is amiss - just like I did when CSHD ran to $4 and then hovered around $2 while waiting for the magical 10k... I sold out and took profits, 2 days later it was halted.
Be very very careful here and take your original investment off the table - do not trust Pink Sheet stocks under any circumstances, no matter how good it may seem.
Maybe I'm just getting the 'hee bee gee bee's but I sold out 500K of my million share position today from .012. Took my original 12K investment back and another 3K in profits for my troubles.
I'll let the other 500K ride free, I feel like I can sleep at night now knowing I've made some cash on this and won't lose a dime.
Again - be careful, they have delayed once before and it is definitely in the realm of possibility to delay again until Jan 08 for some crazy reason.
Posts: 630 | Registered: Jun 2006
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posted
she looks to be coming back...strong stock...JMO
-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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posted
Nice job Surfer! You weren't surfing, so now we are gonna close red!!
I sold out majority of my position earlier today as it looks like we are losing steam here....
Posts: 3026 | From: Chicago | Registered: Oct 2005
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quote:Originally posted by a surfer: Boy is the panic setting in....
have we all been burned too many times from FCCN in the past to trust them....I think so.
I think closing even today was impressive considering we had 4 green days in a row.
We'll see.
I'd only be worried if I had every last penny wrapped up in this stock....oh wait....nahhhh! I think they'll meet their deadlines and we'll all have a picnic on DA MOON next week...GLTA.
quote:Originally posted by a surfer: I think closing even today was impressive considering we had 4 green days in a row.
I agree! I also agree about people starting to panic soon....LOL
Main question is: Will she hit .036 or will she drop to .028? I don't know, but good luck to those still in!
(GOOD GOD! I have 425+ posts already! OMG! I am such a forum spammer) LOL
-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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Held pretty good yesterday as noted by Surf. Normally I'd be look'in to get out at these RSI and STO levels, but with the merger hopefully happening on the 30th and the accum. level busting out it sure is hard not to wait and see. The RSI does look to have reset below 70 even if for only a short time. I guess if a 100% gain is all you were looking for here it's time to cash in those chips. GL
-------------------- Let's Go METS!!! Posts: 3317 | From: CT | Registered: Dec 2006
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posted
LOL..Retired...that's a given!! made $ off of it so far...just not real sure I am ready to take the chance on "giving" my profits back... for now I am just watching...but it is nice that it is holding...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
Well, I sold out even at 03 this morning. Doesn't look like there's much faith in this merger as the pps doesn't reflect it.
This is one of those stocks where you either get lucky or you don't because it could go either way. Remember the old saying...buy on rumors, sell on news. That's what scares me the most with this one...
Posts: 3026 | From: Chicago | Registered: Oct 2005
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