I'd never heard of this procedure but its seems investors like Cyberchic converted distributions into units in the FMF. Thanks to her for clearing it up.
Well, on the 'dark' side, perhaps that $6.9m paid to Grande Pacific was an omen to tell me that $6.9 would pop us and cause confusion.
Also, it'll be interesting to see how the more than 5 million units held by the First Income Fund (of which I am a unit holder) will be treated in the unit count for the First Mortgage Fund.
Clutching at a straw, I think City is done for.
Let's see.
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