Lightstream Resources Ltd. LSTMF

Why is LTS Management destroying their Shareholders?

[bushhog1]

Conversion from old Shares to new Shares.

  Old Shares                       New Shares
   198,500M                            2,350M
       1 share              =         0.01183879093
       1000 shares      =        11,83879093
      10,000                =        118 (approx)

      50,000 current shares  =     592  new shares

According to my calculator
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Management borrowed Billions of Dollars  from Shareholders, Banks
and Bondholders over the years to run the Company, believing
borrowing to run a Company is a good way to grow and be profitable.

Now management suddenly sees the need not to borrow anymore, so 
they decided to destroy the present shareholders and bring in
New Shareholders
______________________________________________________


Only my opinion

[bushhog1]

Are Shareholders going to vote yes to destroy themselves? We seen the share prices tumble from about $35.00 to 16 cents  over the last 7 years. The few weeks, before this Restructure Announcement was announced, LTS share price fell to about 18 - 20 cents Volune of shares sold, crossed, or traded below 20 cents was about 15M. So it was cleared up to then that only about 15M shares were

[oilman53]

Management  is sacrificing their shareholders to protect their jobs

[Sonofmshade]

I would rather lose it all than have Wright and company benefit in any way or the first lien criminals steal the company. Better to go bankruptcy and let everyone lose. Suicide bomb the company. Second Lien should make an offer to take the company over and get control. It would cost them relatively little. help protect their investment and then puts them in the drivers seat.

[orlandofl]

LOL

[oilwatcher13]

If the Bond Holders allow John Wright to continue to run this company after the bankrupcy they are stupid, dumb and retarded. Would you allow a guy who single handedly destroyed so many companies run your business.... I surely would not..!!!  Just look at John Wright's track record.... it is a laugh and a joke... this is going to zero...!!! JMHO

[bushhog1]

I am with you. Management is trying to hand over the Company without bankruptcy. In this way, only the present Shareholders will be destroyed but they will save on legal fees and save the Company and Employees. But when did they ran into trouble? Up to the end of fiscal 2015 this Management was paying all their Interests and in 2015 their had an excess of $87M cash Flow that they used to

[Al42]

Even in May 2016, the CEO said they are making enough Cash flow to  pay  all their Bills,  included their accrued Interest payments Was he misleading us? Yup..Thats why i decided to sell at 19 cents. He has been misleading us for years. He also said the last few times that we could survive for a couple of years with low oil prices. That's why they put a 2 year time frame

[orlandofl]

I agree, I think JW is excited to keep his job and start over in better financial position - I think he looks at unsecured debt holders and shareholders as trapped in a corner and say yes to something rather than risk 0 - and he gets to do a reset. They'll probably give him stock options as well. Secured debt holders will bid on the company in bankruptcy as well so he may get the same deal