IS definately not a basher,  he may have been burned in the past and is a bit skeptical.  Honestly nothing the company says holds any credibility with me and I am a MAJOR shareholder.    He definately needs to focus his attention on doing due dilligence regarding his worst case scenario of FC taking control on a defaulted loan. I am also not happy about the loan and will not chastise anyone who writes the bcsc and tsx to voice there concerns...it is a free country.  The tsx can then consider if the issues have merit or not.   As far as I am concerned put me strongly in the camp that FC will not be able to orchestrate such a coo , firstly by other posters it is not the way the process works, secondly - no way it would/ could happen otherwise lawsuits would fly and people find ways to deal with those type of issues personally these days.  2 guys maybe you should focus your energy on determining what happens LEGALLY if BGM defaults on a loan 6 months from now.....after all you like "black and white" official documents...go find the answer and get back to us......go phone some legal friends or universities , or go to the library and do some corporate/ loan default law.... (other seem to be quite comfortable- seem intelligent- and have a background knowledge;and are not worried)..go research...

 

Any loan backed by the company's assets (to anyone) are never a good idea for a junior with no cash flow...that is why private placements is always the preferred method. As mentioned under a CTO ,  a PP may or may not be allowed ,but yet again the choosen direction another blunder after endless other blunders as the company fails to understand MANY INVESTOR DONT TRUST FC AND THE COMAPNY ...maybe if they understood this they could operate better.   I find it hard to believe they could not find a 3rd party to provide the same funds with the same terms.....(after all for years the company has always bragged about how much money people were willing to throw at them)   ...maybe they thought people would like this idea ,maybe they never offered the loan at all because Frank is eager to earn the 20% . Did they even consider the conflict of interest of a CEO in control and how influential he may be in whether the company may default in such a short time frame or not..... , which would result in his own repayment. IT has conflict of interest written all over it....   as usual IMO a poor decision at the worst possible time.    (Others may say good on FC for risking his capital and trying to get thru this fair enough ...I say  .....  poor decision without seeing the bigger picture.) we can agree to disagree. I'm glad the company "says" things are "as usual and people are getting paid" , put me in 2guys camp then..show me the loan has offically been approved) ..

 

Anyways our short term fortunes are tied to Snowden ....IF they come back and say things are good (5M-10M ) ...then everything will turn out roses

let's hope they are working quickly....