GREY:ARGEF - Post by User
Comment by
lenumero66on Jun 19, 2019 10:17am
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Post# 29839705
RE:30 days to restructure......
RE:30 days to restructure...... If they can find an acceptable way to pay the creditors, Argex may still live.
Best case scenario, the creditors agree to be payed later because Argex management convinces them that they are going to sign the agreement with the Vietname firm, and Argex has to pay them off the top of those royatlies. That is super optimistic. This way no dilution.
Maybe they convince the creditors to take shares for what they are owed. We all get diluted down significantly.
Worst case no agreement, company is disolved to pay the creditors. You get nothing.
Right now all we know is they are going to make a proposal under the bankrupcy act. Ie they have been given 30 days where they don't have to pay anyone to come up with a proposal and get buy in.
As for the notion that they misled their investors.... The data is in the financial statements you can see it clearly. No income, 3M in short term liabilities and unpaid bills. A few hundred K in the bank. These statements are always covered with "there can be no gaurantee..." type statements.
Hopefully there will be something left after this carnage, but I think we will be very lucky if its just issue 3B new shares to clear debt and some kind of reverse split.