Haviland Enviro Corp V.HEC

RE: Now what??

[barcodewhiz]

Not sure what to say Stoocks... I am disappointed. I really thought they would have had a deal to announce by now. I am sure that this release is partly to do with Directors covering their arses in the event that something doesnt get done to avoid director liability after the fact. I dont think that this announcement means things are dead but it surely cant be construed as positive. The market MAY be overreacting but there's no doubt the risk of the situation has grown. The total market cap is now $12mm US. I was told directly by Hemosol management that their plant would cost $200mm and three years to build. What does that make it worth in liquidation ? I am not sure. It is however obvious that someone could buy the company, pay the debt ( about $27mm cdn ) and get themselves a hell of a deal, arguably a BETTER deal than if the company were to be in bankruptcy because it would likely get BID higher than that in liquidation. Interesting situation... we'll see how it plays out. I understand the LAND ALONE is worth $8-$10mm... never mind the actual facility and the intellectual value (ie: Cascade license etc ) I am encouraged at the fact that there was some LARGE buying going on at the lows... MUCH more than the outstanding short position... That leads me to believe that there may in fact be someone lying in the weeds to get a deal done... who knows at this point ??