OTCPK:FRSAF - Post by User
Comment by
JohnEStromJron Feb 21, 2012 4:02pm
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Post# 19563014
victor2009 aka turdblossom opines....
victor2009 aka turdblossom opines.... Pearls of wisdom for victor2009 aka turdblossom.........
"If Sprott were to take the remedies available to them under the agreement, and all assets are pledged, they would have rights to take possession to all assets of the company. In all likelihood, actions would be taken by certain creditors that have preference, and they might succeed in having assets applied to pay or reduce their claims. All remaining unsecured creditors, would receive nothing, as there would be no assets remaining. Shares issued to all shareholders, including Sprott, would be worthless."
Duh! You said pretty much what I said. There are NO creditors of any size in front of Sprott. Companies that were owed money for services or materials would come ahead of Sprott provided they filed a Mechanic's Lien ahead of Sprott. First to file establishes priority. In the event of a bankruptcy shareholders would lose their investment.
So what is it that I said that differs from what you said????