Argex Titanium Inc. ARGEF

RE:RE:RE:Reports of the Trustee

[lenumero66]

Guys the company has had negative working capital for years. From Q1 March 2018 financial statements: current assets 506k, total current liabilities (due in 1 year) 4.7M. How can anyone say "before bankrupcy became an issue"? It's been on the edge for years. From "Note 2" of the March 31st financial statements on sedar:

There can be no assurance that the Corporation will be successful or that sufficient funds can be raised in a timely manner and, as a result, these conditions indicate the existence of a material uncertainty which may cast significant doubt about the Corporation’s ability to continue as a going concern.

If you didn't think Argex was teetering on the edge of bankrupcy I'm sorry to say you only have yourself to blame. Was there hope that they would get financing? Of course thats why I bought in, and I'm sure many of you did as well. But it was a gamble not really an investment. I thought the odds were good but it was a stock that was either going be a 10 bagger or go to 0. You didn't buy RGX to make 8% a year...

Alnaimi has way more shares and options in this company than anyone on this board. If his group buys the company and the shareholders get nothing then the last 3 years of his work (of which he was paid only in stock options, no cash) is worthless. As his base compensation was set at the equivalent of $~400k for the last 3 years, he is losing $1.2M if the shareholders get nothing. Plus he did several bought rounds of financing along with his brother to keep the company afloat. If the shares are worth nothing they lose all that investment as well. If they really wanted to "steal" the company they could have done it alot earlier and for alot less money.

He has put together a bid (as a starting point), which at least buys PWC time to find bidders and keep the creditors at bay (they were required to submit a plan to pay them in 30 days, now that they have at least one bid they have asked the court for more time so they can get proper market value) and as you say PWC has solicted 36 bidders. But don't confuse soliciting a bid with an intent to bid. If we really do get 36 bids that would be fantastic and then we should see some money back....that would be fantastic.

Lets all hope the patent is as valuable as well all think. I would be shocked if we see anything close to $20M ($0.035 to us), there needs to be a bidding war. I hope they have mananged to promote / develope the technology enough to warrant this.

GLTA