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Bullboard - Stock Discussion Forum Ravelin Properties REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.RPR.DB

Alternate Symbol(s):  SLTTF | T.RPR.UN | T.RPR.DB.A | T.RPR.DB.B

Bullboard (TSX:RPR.DB)

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Comment by pennylane101on Nov 10, 2024 10:34am

RE:RE:RE:sot_-_q3_2024_financial_statements_vsedar Note 28

In other words, the company is not insolvent.  Section 192 of the CBCA:   “it is not practicable for a corporation that is not insolvent to effect a fundamental change in the nature of ...more  
Comment by HRc60to65on Nov 10, 2024 10:04am

RE:RE:sot_-_q3_2024_financial_statements_vsedar Note 28

Sot is a profitable business.  at 6x the net income 2.4M$/Q or 9.6M$/year = 57.6M$ 56.6M$/84.4 units = 0.68$ per unit Net loss 182M$ is including 184.4M$ of the following non cash items ...more  
Comment by Tree2treeon Nov 10, 2024 9:00am

RE:sot_-_q3_2024_financial_statements_vsedar Note 28

The pressure from lenders is not a bad thing if it speeds up action by the board.  We debenture holders are also lenders, and we want to get paid too.  I hope some of those buying debentures ...more  
Comment by HRc60to65on Nov 10, 2024 4:56am

RE:sot_-_q3_2024_financial_statements_vsedar Note 28

Correction Sales already annonced of properties sale in q4-2024, total 64.2M$: Winnipeg,114 Garry Street  14.3M$ Winnipeg, 365 Hargrave Street 10.9M$ I think it is : Ontario, Markham, Gateway ...more  
Post by HRc60to65on Nov 10, 2024 4:51am

sot_-_q3_2024_financial_statements_vsedar Note 28

Note 28 iv. On October 31, 2024, one of the REIT's lenders provided formal Event of Default notices expressing their right to demand repayment of the borrowings at their discretion. The Event of ...more  
Comment by Tree2treeon Nov 09, 2024 6:40pm

RE:CIBC comments after conference

Thanks for that CIBC report, very helpful.  I appreciate that they are telling it straight, the equity of common shareholders could go as low as zero.  However.. in response to some of the ...more  
Comment by rad10on Nov 09, 2024 4:08pm

RE:RE:CIBC comments after conference

  But I thought it was all rainbows and unicorns according to 2$hort planks. A recapitalization basically means the equity is worthless, and the debentures may or may not be.  They are ...more  
Comment by TVRon Nov 09, 2024 1:00pm

RE:CIBC comments after conference

I think the CIBC analysis pretty much sums things up. Not good. Little prospect of anybody bailing the REIT out and doubtful that Armoyan or SAM, either together or individually, have the financial ...more  
Post by InvestSmarteron Nov 09, 2024 11:41am

Dilution?

Sounds like common unitholders will be wiped out in this restructuring, as debt gets closer to 100% of assets. Possible dilution of unitholders along with a 10:1 reverse split? With debt so high, I ...more  
Post by incomedreamer11on Nov 09, 2024 11:05am

CIBC comments after conference

Tough Situation Gets Tougher Following a deterioration in its financial condition, SOT has suspended its portfolio realignment plan and is exploring recapitalization alternatives. On October 24, SOT ...more  
Post by Tree2treeon Nov 08, 2024 5:31pm

That was a day..

..that could have gone either way, given the many uncertainties remaining.  The quarterly report was not a 'best case', and certainly not a 'worst case' situation.  We now ...more  
Comment by rad10on Nov 08, 2024 3:40pm

RE:RE:Interest coverage ratio

I got enough debs - less than 1% allocation.
Comment by pennylane101on Nov 08, 2024 3:37pm

RE:Interest coverage ratio

Let me guess, you were the guy hoping to load up on debentures on the cheap at 10 cents this morning.  Yeah, didn't work out.  ;0)
Comment by pennylane101on Nov 08, 2024 3:33pm

RE:RE:RE:RE:I expected

With half of the debentures converted to units, there would still be massive dilution for current unit holders. Do you have any idea what that would look like? Yes, there was a massive selloff today ...more  
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