TSXV:LRT.UN - Post by User
Comment by
quicksilver545on Mar 22, 2023 10:43pm
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Post# 35355154
RE:Bid Price
RE:Bid PriceI wish.. there's been no bid price since the conversion of the debentures and hyperdilution of shares from 20m to over 600m.
They tried to reverse split the shares, but was voted down. I will continue to vote down any proposal to consolidate the shares, and will reject any and all nominations to the board. The last AGM vote was not supported by the shareholders, and yet the boardmembers were not removed, as Arni still has final say.
Now the company is simply selling off all the properties to pay off the "non-arms length" lenders, so that at least they get paid off, then will im sure just declare bankruptcy.
The biggest mistake made was for debentureholders to vote for this conversion to units (albeit on the 4th attempt), as that was at least one remaining avenue to realize some value. I still question whether that vote was even legit, as to this day they have not ever released the results, and continue to not communicate with unitholders.
Our only hope is a buyout by management, but I don't know that they will ever propose that as they have managed to find a way to asset-strip the remaining properties without any unitholder approval.
So yea.. not sure where we go from here.