>Maybe not so early after all!!

Well it was early when I said that. I commented that PHUN couldn't start selling shares until next Tuesday. Well I've read more and more since then, and in another part of the agreement, it says that they can start selling shares as soon as they get them, but they are limited until April 3rd to a max of $6 million worth per month.

In their SEC filings, PHUN said "as of January 9. 2009, Falcon common shares were trading at CAD $0.40, resulting in a total value of $9.7 million."

9.7 mm / .4 = 24,250,000

They were issued 28.9 million, so it appears that they had already sold off 4,650,000 by then.