GREY:AIIFF - Post by User
Post by
Thethruthhurtson Jun 24, 2014 2:48pm
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Post# 22690367
Staff know's its coming I'm sure
Staff know's its coming I'm sure
I have been on the phone this morning an nuveux's observations seem to be backed up by sources within the company itself. Brookfield will protect their debt and investment and sell the company assets. The best assets are out west and there are several groups interested in Con Force. Its a bit ironic that Ron Adams takes over the Board shortly before moves will have to be made to take the company apart that he and Chuck Phillips put together. Armtec paid $40million plus for PreCon in 2009. The market cap today is at $15m. Plus the massive debt --30% of which is owned by Brookfield and the other 70% supported by what will soon be worthless debentures. How can you still be in business when you are worth less than you owe?? Working through all these numbers points to insolvency. Don't forget another $10m from Brookfield to turn the corner. The corner is a wall -- and its been hit. Turn out the lights this party is over. Look for Anderson to be gone by the end of the week. Company will be run by an Auctioneer in the days ahead. Not by an Accountant. #Armtec #Brookfield