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Bullboard - Stock Discussion Forum Lightstream Resources Ltd. LSTMF

"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."

Bullboard (GREY:LSTMF)

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Comment by reefsandals4evaon Jan 26, 2017 10:50pm

RE:RE:What's the hold up?

Well, BluSky23 , I never thought of it like that. You're saying they're ditching lightstream with the unsecured debt and the shareholders, taking the assets and leaving lightstream to declare ...more  
Comment by BluSky23on Jan 26, 2017 9:00pm

RE:What's the hold up?

They will last until the last board meeting when they decide to file bankruptcy. LTS is still a company, just it has no cash and unsecured debt tied to it. Wind down will be handled by monitor. Still ...more  
Post by reefsandals4evaon Jan 26, 2017 8:08pm

What's the hold up?

Pancho2 , if we're right and Oldfart is wrong, what's the hold up?  Why are we still looking at lightstream shares and how long will that last?  45 days from closing?
Comment by reefsandals4evaon Jan 26, 2017 7:59pm

RE:RE:RE:RE:RE:confused about the 88 to 1 split

The worst part about Oldfart is that he doesn't understand what he's talking about but as long as those shares aren't worth anything, he's still right.  I wish he'd give ...more  
Comment by Oldfart74on Jan 26, 2017 6:54pm

RE:RE:RE:RE:confused about the 88 to 1 split

Pancho, if a secured note holder has 5% of secured debt, they will receive 5% of the shares.   I'm finished with this discussion.  The sale has closed and the sale agreement posted on ...more  
Comment by Pancho2on Jan 26, 2017 5:38pm

RE:RE:RE:confused about the 88 to 1 split

From the article posted on Dec 8, 2016, that you quoted "Ridgeback is a new private company established for the purposes of completing a credit bid for the assets and business of Lightstream on ...more  
Comment by Oldfart74on Jan 26, 2017 3:19pm

RE:RE:confused about the 88 to 1 split

I read the sale agreement between Lightstream and the secured note holders.  This agreement was approved by the court on Dec 8.  It provided that all the assets of Lightstream would be ...more  
Comment by Pancho2on Jan 26, 2017 3:01pm

RE:confused about the 88 to 1 split

Lightstream presently has 199M shares In the new Company this equates to 2.25M  199m / 2.35 = 88 approx ...more  
Post by reefsandals4evaon Jan 26, 2017 1:57pm

confused about the 88 to 1 split

The recapitalization plan had an 88 to 1 reverse split of the share,  I'm thinking that was squashed but then it goes back to saying that it will offer whatever was in the recapitalization ...more  
Post by reefsandals4evaon Jan 26, 2017 1:49pm

share consolidation? yay or nay?

Should the CBCA Plan Transaction ultimately not proceed, and in order to ensure that the Company is able to implement the CCAA Sale Transaction in a timely fashion, the Company will initiate a sale ...more  
Comment by reefsandals4evaon Jan 26, 2017 1:14pm

RE:RE:sept. 9 2016 news release pg.2

I got my date wrong, i meant to say the July 13 2016 news release.
Comment by Oldfart74on Jan 26, 2017 12:39pm

RE:RE:RE:RE:RE:RE:@bluesky sept 19

You are wrong Pancho with regards to the duties of the Monitor.  On Dec 8, the Monitor was granted additional powers and is now running Lightstream.  The sale closed at the end of the year ...more  
Comment by reefsandals4evaon Jan 26, 2017 12:30pm

RE:sept. 9 2016 news release pg.2

Do not confuse this with what Pancho2 is referring to.  The July 16 2016 document is the new agreement.
Post by reefsandals4evaon Jan 26, 2017 12:20pm

sept. 9 2016 news release pg.2

As previously announced, under certain circumstances, including if the Unsecured Noteholder litigation is not settled in a manner satisfactory to both the Company and the ad hoc committee of certain ...more  
Comment by Pancho2on Jan 26, 2017 12:08pm

RE:RE:RE:RE:RE:@bluesky sept 19

The Monitor is present only during a Court proceedings to ensure all the parties do what they said they will do. We already knew that all what was agreed upon was carried out as reported. ----------- ...more  
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