OTCPK:ARNBF - Post by User
Comment by
teeveeon Jun 30, 2014 7:02pm
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Post# 22706923
RE:RE:RE:RE:RE:What about this?
RE:RE:RE:RE:RE:What about this?I am not new to this. The bottom line is what the assets are worth. In this market, maybe $55K/flowing barrel. subtract bank debt from that and see if unsecured debenture holders get more than 82.5%, and in a distress situation where the bankers are in charge, the selling price would be less. If this deal is voted down, and if a subsequent conversion of the first debenture at market price is voted down, ARN would head to bankruptcy to the detriment of shareholders and debenture holders, but it is clear you don't see that. Good luck to you. I have shared my opinion on this and have nothing more to say.