Lightstream Resources Ltd. LSTMF

What Shareholders might get

[Pancho2]

On Nov 3, 2016, the Q3 report stated

"The Company also obtained approval of our proposed sale procedures which are a continuation of the previously initiated sale and investment solicitation process that commenced on July 13, 2016. In accordance with the terms of the Support Agreement, the members of the Ad Hoc Committee submitted a credit bid (the "Secured Credit Bid") for the full amount of the claims outstanding in respect of the Secured Notes and debt in priority to the Secured Notes." 

The Q3 Balance Sheet states
 Liability subject to compromise was $1,337.05M ( $904M us of the Secured and unsecured Notes) and which was subsequently approved.
This amount will change based on the fluctuation of the cad /us exchange rate
from the end of Q3 to the approval date of the proposed sale procedures

Apparantly the secured Noteholders took over and paid off the unsecured holders , but we the old Shareholders will only get the agreed upon 2.25% of the new restructured Company and the remaing 97.75% will all go to the Secured Holders,
for their contribution of the $1,337.05M

The is only my understanding