p1, page-16

PF
You say
"Just on shareholder spread, it is against ASX rules to give shares away for free to meet shareholder spread requirements"

GCN and its shareholders have contributed significant assets and technological knowledge to P1---it was not free.

This may not be the case in FM....but there is two sides to FM...mining and IPTV...we have heard some basic stuff on miming issues....we are yet to hear on the Telco/IPTV,that may well fit the bill....lets wait ans see,as you are aware directors had a trip overseas,it wasn't a junket.

Until, ASX listing application of P! is finalized we all have to rely on the conclusion that solicitors have in preparation of the prospectus covered this point...otherwise why bother.

You and Jeffries would be a lot better off if you rekindled you relationships with the company and ceased firing from the hip.

I am not sure at what price GCN P1 of FM must be for you to capitulate,your time could be spent better, IMHO you are playing into the hands of the long term holders and they should be happy about that.