RE:RE:RE:RE:RE:pik notesHugeCrane wrote: I don't think we will see a going concern statement for the next several quarters but I still think George is only on the board to eventually stronghand a merger with Trican. I agree it could generate some decent cash flow, but that cash flow will be servicing debt for the foreseeable future. And George never added capital. It was a debt for ownership restructure. He was basically handed controlling ownership for nothing. Genius and lucky on his part, but the previous shareholders got screwed. Big time.
Ownership wasn't for nothing, the way I read it, debt for ownership was rouhly 12$ per share. Hense was my PIK Notes question, how is that they are converted at 1.33$ per share, it doesn't make sense. Also, to your previous posts a few days ago, it is not 37 mil, not 43 or 53 million but 100 mil shares fully diluted, considering PIk Notes PIK'ed and converted. I could not care less, but there might be a future share price implication. Possible cheap supply of shares which will be sold profitably at 2$ per share for next three years. 45 million of them. Unless those notes are held by institution with strong hands. Fellas, tell me where am I wrong. Am I the only one seeing it? Before you ask, I added a significant portion of Calfrac to my portfolio in last few days.