Argex Titanium Inc. ARGEF

30 days to restructure......

[Viosimiri]

And than? What is happening with our investment? First time this is happening to me.

[SGordon]

Anything can happening: Stay the same thing....... Lose everything..... Be back with a less value..... But I'm thinking it gonna be the second one sadly!! But hope not!!!   GLTA

[lenumero66]

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

[TomKCam]

lenumero66, Right, the investment risk is always covered with this kind of clause. Do you know who are the main creditors? And another question : when reverse split is done, do the debentures conversion price are automatically adjusted or does it have to be negotiated? Thanks for any info, Tom P.S. If I was Argex, I would offer a few years royalty to the creditors. And if I was a creditor

[joeyxx]

.... I really don't know what ceos target was and is.... 2 weeks ago he was very happy about the chinese deal and short after this the news from today??  I'm in here since years but I don't know where the train ends here..... 

[lenumero66]

It is still good news. But the bottom line is they owe money, have owed money for some time and the creditors have legal recourse when they aren't getting payed on the terms they agreed too. Maybe one of them is sueing to get their money. This move gives Argex some time to figure out how to pay them. Filing for creditor protection is hardly good news but this is all this announcement means

[hoosrmlkmkr]

I agree.   To me, this means they haveto renegotiate with their lenders, but I'm not sure why they couldn't do this earlier.  Not sure what the terms are of the loans they have. This is not bankruptcy... yet. Hopefully, the lenders will see the future value to them and us and make some kind of a mutually beneficial deal with Argex and save us minions from the fate of

[Mininggeneral]

Hoo, Mazen, would rather bankrupt and re-structure and save himself. If there is a chance for revival, thats why most bankrupt companies do. Old shareholders are always left holding bag, have to accept it, obviously we are all pissed. Just bankruptcy rules which need to change.

[TomKCam]

I like your contribution lenumero66. You should have contributed before! Here is my take : At the end of 2017 the total liabilities were $4,945,047, at the end of 2018 it was $5,795,665 and at the end of 2019 first quarter $5,971,995. In 2018 there was $459,894 in liabilities to the directors, was nil in 2017. The accounts payable was $2,430,502 end of 2017, $2,881,711 end of 2018 and $3,138,983

[Viosimiri]

They were aware about the financial situation, however they are working to sell the tech, to make that deal in Vietnam - it looks to me that they were preparing for the talks with the creditors. You don’t push for this type of deals knowing that you go bankrupt in two weeks, why you will do that? They are games played behind close doors and I personally hate this, however I assume they cannot say

[Mininggeneral]

Vio, has any bankrupt cared about shareholders?