A few days ago, I sent a e-mail to Micheal at FNC IR, and the part that is relevant to the 9 M RGX shares is quoted below.

"Hello Michael,
I have this nagging question for a long time, and perhaps I have raised this before with you, but in a general way when I commented on the info presented on the FNC website. However, there was no update either on the website, or by way of some kind of reference with respect to RGX holding. The best way would be listing this holding with the long list of holdings on the left margin of the page (on the website), and/or in the corporate presentation....."

So, finally something was done about it. The RGX shares (and CHM holding) are now listed on the left side of the page along with other properties. It's looks like FNC is listening to shareholder's suggestions, but it is still too hesitant about doing this sort of promotion. There is a general note for both RGX and CHM that says (restricted). This is one example of the very conservative attitude that FNC (not sure who) seems to have. If I were to write in that note I would replace the "restricted" by "in escrow until...?". I don't quite remember the exact date, but it's some time in 2013 I believe. Including a bit more information (the date when the 9M shares are free for trading) would indicate to shareholders that within a short period some $8M cash would be available to FNC, if required.

Note: IR could have done a much better job if Michael takes a couple of minutes to reply to my e-mail. Perhaps I expect too much, but I have communicated with other companies and get replies back, from CEOs, sometimes within a day. Hope that he is reading this post.

goldhunter