Ann: Forge shareholders approve $19.5M placement , page-7

re: Ann: Forge shareholders approve $19.5M pl... EmDe the $2.10 call option clause was in case directors/large holders pulled out of placement as they would have done if a better deal arose. Now that the placement happened all holders have the right to sell 50% at $2.10, none of which will accept eccept for directors/large holders who agreed earlier they would sell on this course. Unless they back out now but a last week they confirmed they are still seeling. This is needed to get CLO 31% and make the alliance official, they see the benefits so are takin ghe hit for us.

It seems today holders denied the delay of the board meeting and thought the alliance with CLO was better than waiting for some low ball bid from a rival.

We will recognise far greater value on this path than even a $5 buyout IMO. The deal looks great, directors prob rue it now as will be selling 50% at $2.10 meanwhile a potential $3 plus acquisitition was possible.

Once a borker or 2 get on board and $5 targets are put up it should run some more. We can also expect further contract signings, profit upgrade as would have been very conservative and a possible buyout from CLO or an over the top bid if someone really wants them.