IMO, one of the main factors why FAU is still at such low levels is selling by PFN (Pacific North West Capital). They do a lot of selling whenever the volumes are high, which is usually after a press release. This keeps the share price down, despite the good results.

Consider this:

On March 31/10 they held 6,365,000 shares.

On May 11/10 they participate in the placement for an additional 1,825,000 shares (plus 912,500 warrants).

On May 13/10 they hold 6,492,500 shares.

This indicates they sold almost 1.7 million shares in the six weeks! It's not rocket science to figure out where the selling pressure is coming from. This would be fine, except for the fact that PFN has the same management as FAU, including FAU President Harry Barr!

I think FAU/PFN management should explain why the keep dumping into the market. I can understand that PFN wants to maintain a level of ownership by selling shares and participating in placements that also give them warrants. However, if they are going to sell they should arrange a side deal and NOT keep dumping into the market.

They owe the shareholders better and an explanation.