Lightstream Resources Ltd. LSTMF

Bond Holders Pissed

[darkstream]

It appears the two Bond Holders Wright screwed last year will not allow this latest proposal to go forward. They need another plan very quickly. This Ad Hoc committee seems to be made up of 1st lien holders and they are just blowing smoke. Its time for the first lien holders to move the credit line back up to net neutral. Whats the difference. The money has been eaten and schitt out already and they would get it back on a future foreclosure should that happen. Currently LTS is generating $5M US a month on $45 oil. Should oil ultimately stabilize over $50 they would be viable. Wright should pay the bondholders $25M today with a promise to pay $5M a month until the interest due is made whole. Tell the 1st lien holders to Schitt or get off the pot.

[orlandofl]

Secured debt holders are good with the deal - understandibly as they get 95%, 2nd lien don't like it - not sure what will be negotiated or if they go to court over restructure - similar to bankruptcy in the US - shareholders I guess don't have a lot of say and probably approve it.

[PeterWright]

It will be interesting to see how the two lawsuits effect things. Will they settle? Will it slow down the process? I can't find any updated information. Lots of moving parts, hopefully it all works out. Still no reason to own this name at this point.

[darkstream]

-the law suits could stall foreclosure dreams indefinitely and should be delayed as long as possible -sent Wright an email this morning -told him this deal is already dead and asked him to concentrate on his 7M common shares instead of his job preservation -this deal reeked of self service and I stated that their were better options -told him his me me me attitude will get him voted out in