CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:Something not good is happening

[phoenix_trader]

Perhaps, is it bad, maybe not. COP was $57 million for first half of 2015. Assuming minimal capex the $372 million bank debt can be easily met from cash flow. The Superior proposal gives management time to progress the business given NATO is now gone. 2/3rds approval is needed and no approval may mean the $25 million break fee evaporates. Notice the huge deferred tax asset is still on the books.