looks like Peter came into the poker game with no cash to bet his staight flush hand...... You can have the best hand in the deck, but if the cash isn't there to place the stratigic bet... it is a minor player..... You have to have the cash to bet through every round at the table.....

This is why FNC has sold off recently..... The big players will sell FNC short untill a placement is given at a price they like.....JMHO

I also suggested that maybe managment want it to sell off so they can load up with cheap stock in a PP with a full wt and cheap options ..... maybe thats why they sold some near the highs.

Nobody gives up a chance to fund their company when the stock has gone up 20 fold since their last placement unless they have a motive....

One alternative would be to sell stock into the market and exercise their $1.90 options thereby sidesteping a placement in the short term.

I feel the managment have failed to make the stratigic move to ensure the risk is minimized to the majority of shareholders..

Just telling it like it is..... get the cash issue solved before the drill hits the dirt..... or make a deal which minimizes downside risk.

A summary of stock options outstanding and exercisable is as follows:

0.15 June 29, 2009 0 793,000

0.14 May 25, 2008 0 829,000

0.15 July 4, 2010 100,000 624,390

0.11 July 19, 2010 0 200,000

0.11 August 21, 2011 0 0

1.90 October 30, 2012 1,700,000 0

1,800,000 2,446,390

Short History	Help

	Symbol

Short History

		Symbol	Report Date	Volume	Change
		FNC - V	2008-04-15	424,973	-81,528
		FNC - V	2008-03-31	506,501	-94,599
		FNC - V	2008-03-15	601,100	6,596
		FNC - V	2008-02-29	594,504	234,004
		FNC - V	2008-02-15	360,500	1,000
		FNC - V	2008-01-31	359,500	32,806
		FNC - V	2008-01-15	326,694	-18,932
		FNC - V	2007-12-31	345,626	-9,000
		FNC - V	2007-12-15	354,626	5,000
		FNC - V	2007-11-30	349,626	-82,300
		FNC - V	2007-11-15	431,926	-7,012
		FNC - V	2007-10-31	438,938	27,836
		FNC - V	2007-10-15	411,102	-198,125
		FNC - V	2007-09-30	609,227	439,033
		FNC - V	2007-09-15	170,194	170,194
		FNC - V	2006-01-15		-300