Ryan Gold Corp V.RYG

Oban Deal/Tax Loss Carryforwards

[jsnfernley]

Ryan's public listing was created when Shaun Ryan's private company was merged with Valdez.

The acquisition accounting per RYG financials showed C$148m in stock and warrants issued for the exploration assets plus/minus odds and ends.  Wouldn't that be $148m (yes, million) that RYG has as tax loss carryforwards?  If not, then what?  These properties have all been written off.

Then there is the $21m Valdez had accumulated prior to the merger (some may have been flow through), plus the $31m in non flow through shares issued by RYG, all potential tax loss carryforwards.  Especially since the retained earnings are a negative $225m.

I wonder why there is absolutely no reference to tax loss carryforwards in the financial statements?  I wonder if the broker missed that too?  And all the executives AND lawyers, too?  Securities lawyers?

Reread the procedures for dissent and all of the caveats they list.  If you think you're going to get C$.18 per share by dissenting, have at it.  I think you're going to be dissappointed.  Then YOU will have to see a judge to fight it.  Stacked decks are not reasonable, but sometimes you have to play the hand you get dealt anyway.

There isn't enough money in this for me to fight with the process.  And I'm not greedy--I don't want it all, I would be happy with C$.16/share.  I want nothing to do with Oban until maybe the dust clears.  And maybe not ever.

[RockLobster1]

I once went through the dissent process, and only because someone else organized it for about 10% of shareholdings....  what an amazing hassle and indeed a totally stacked deck.  I rather naiively thought there'd be 1 hearing to determine fair value and that woudl be it.  Instead the company delayed each hearing by telling the judge a negotiated settlement was possible.