RE:RE:RE:RE:RE:RE:RE:RE:RE:Bondholders Lawyered Up; Longs should form Equity CommitteeYou can dispute whether they should be reporting adjusted EBITDA numbers that show cash flow from operations as opposed to GAAP which takes amortization into account. They report both so you can disregard the adjusted numbers if you wish and think they are pretend. What is not pretend is the amount of cash they have. There is no trickery in calculating how much cash a company has. A 7th grader could calculate that.
Health123 wrote: The whole Integrity of the Financial Reporting is in Question, Lumber. This guy says their numbers are "PRETEND" and I agree with him, not Bag holders on this bull board.
https://www.bnn.ca/investing/video/brian-madden-discusses-concordia~984115
Lumberfeverlong wrote: The point is that there will be no Chapter 11, CCAA or CBCA Plan of Arrangment so long as the company is able to service its debt. Any insinuation that it cannot do so is complete hogwash. They ended Q3 with $492M in cash and another $60M available on the revolver without restrictions. After Cinven payments are made they will still have northwards of $350M. That is enough liquidity to get them to all maturities on their dent at which time that debt will be replaced with new debt at prevailing rates at the time. End of story!!!
rad10 wrote: This thread is awesome! How many posters have actually invested through corporate restructuring or reorganizations.............................. Gentle hint common stock holders will get nothing before bondholders are made whole. There is no "taking turns" in this scenario.
The banks and the senior secureds will own this company as soon as there is a default. The longer Concordia treads water the better for noteholders, and for equity holders. The upside for equity holders is considerable but only if they can service the debt load to recovery.