RE: RE: Details Details Maybe too many assumptions is right.
However, it's amazing that management continued operations knowing of the dire circumstances. BNA Smart Payments, P & B Transport and DT Tire Distributiuon (B2B).
Re-acquired the processing division.
Deals with Protractor Software.
With the 4 US frequent flyer programs with Points.com allowance.
All of the above, and knowing that Aeroplan needs to be paid along with a multitude of other creditors. Aeroplan is the bread and butter of Futura's revenues. Aeroplan stopped the gift card idea for car dealerships because of a lack of payment by Futura. I think this happend in August already.
WD Co-Auto and Co-Auto Eastern both are owed money. Here too, these companies were to find sales leads for Futura in Canada. I had wondered why hardly any Canadian car dealership sign-ons in the past 6 months.
Futura owes money to Points.com who helped them gain entry to the US market in the auto service category.
All are key strategic partners who should be paid without delay.
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It's easy to conclude that management is blind to what is happening around them and it's business as usual. Even after the CCAA, management says its business as usual in their filing to the court. But this takes money and the lack of it now is the main issue. Unless they knows something positive will happen, it's a very unusual business practice. Can read into it whatever shareholders wish.
Maybe more insight will be gained in the coming weeks with the next filing.