RE:RE:So . . . What’s up Goodman?$HAWK wrote: GG: This may be just good or bad "SHAKING THE TREE"
Oh I think you are probably right, which is why I am still buying shares despite SWEARING to myself that I'd had enough. Though today has been a rather dry gultch. Ah well, I had the bid for a short time then was outbid, which was good, I guess, in a way . . .
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$HAWK wrote: You have mentioned the consequences of the preferred shares, before, I have not been involved with a action like this, how is that possible, I am sure others here would like to know also. $HAWK
It has to do with breaking up companies (Chapter 7 more than 11) and who has the first dibs on any remaining assets. Assuming debtors had been paid off to satisfaction the remaining funds are distributed first to Preferred holders and then only to Common holders (though the Common holders don't usually get skunked and the Preferred holders don't usually get made entirely whole). The real debtors however are the ones more likely to get at least some of their money back.
A second intriguing alternative is that after all this work that the proofed value of the mind would make the rights SO high that they could pay their debts AND still have enough cash to at least shell out a few cents a share to the common shareholders. Or more . . . . Depending ENTIRELY on what the mine is worth now that all this research, testing, and work is done. I mean, it's what Obummer would call a "shovel ready project" if he were capable of recognizing one.
At auction the company would at least fetch 4 to 5 times what its current market cap is (call it .06 CDN). The question is, how much of that will be sucked up paying debts and and such and how much will that leave shareholders. And that means selling ALL of Woulfe assets, not only their share of Sangdong, but the Uranium and Gold mines as well as all the other goodies.