LTS true Net Assets' valuation is over $2B From 2013 to date, LTS made non cash writeoffs of about $3B
Comprised of $1.6B on tangible Assets ( Assets revalued down with fallen oil prices)
and Intangible Assets of $1.3B
Tangible Assets and Intangible Assets (Patents, Rights and Goodwill)
have value if they are still in possession by the Owners.
Most of these assets' write offs will be written on back once when oil goes up
Added to the last Financial Statement's Equity valuation, LTS
true Equity valuation should be way over $2B worth.
So why is this Recapitalization is valuing present Shareholders from about $2B
to just $37M with this new proposal?
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The CFO said in 2016 at the Q4 2015 CC on
Properties, Plants and Equipments
Impairment losses related to PP&E can be reversed in future periods
https://seekingalpha.com/article/3955626-lightstream-resources-lstmf-ceo-john-wright-q4-2015-results-earnings-call-transcript?part=single
Only my opinion