To further the issue raised above let's look at the next paragraph:

"The Agreements provide for the following: (1) For conversion of debt owed by Falcon Australia to Falcon Canada, Falcon Canada will own 75% of the common shares in the restructured Falcon Australia;"

Conversion of debt gets us ownership? We already owned it! All of it! We gave PHUN $20 million in stock, $5 million in cash and then another $5 million in loan forgiveness and never got the 10% interest on the loan to my knowledge. I'd also like to know what the total $ are in Beetaloo to date, including FO personel/consultants. How about IR? Whose payroll is whoever is communicating with Moyes & Co, John Carroll or MP Securities on? Just like XOM expensed everybody and everything against the $50 million commitment of Phase 1 Mako everybody and everything counts here. And just how many PHUN/exPHUN people are now on FO's books? Has PHUN paid their share of expenses to date or do we have another "unpaid rent" issue? Or maybe, now that they have 25% of the stock rather than the obligations of a WI, all that goes away as well and we just backdate their free ride.

"The closing of the Agreements is subject to various conditions first being satisfied, including TSX Venture Exchange approval."

I wonder if this is a mere formality and done deal or can a new board stop it. I hope we get a new board. Burlingame, Solitor, et.al. have a right to protect their financial interest and in doing so hopefully mine will be better served. Afterall, they bought their stock. Gee, besides MAB's original 50 million shares, if anybody on the board or in management had owned stock in the company, they too could have voted today. Hard to imagine. Some of them have been around since 2005 and not a single share do they own.