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Bullboard - Stock Discussion Forum Tuscany International Drilling Inc T.TID

Bullboard (TSX:TID)

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Comment by khaledbon Feb 03, 2014 2:45pm

RE:RE:RE:The DIP facility and the Implications

This is because they had 16 milli cash from last quarter + money received from M&P, and also because the decembre debt payment has been delayed to January 24th  ..they spent all the cash and ...more  
Comment by pennywyse2on Feb 03, 2014 2:41pm

RE:RE:Insolvent

Didn't you read the definition, insolvency is not being able to pay your bills on time.
Comment by perdikaoilgason Feb 03, 2014 2:35pm

RE:RE:The DIP facility and the Implications

I think we all here have to point out that the long term debt has not risen since Maurel deal. It was $205 million and it has dropped down to $202 million as of today. Today's NR talk about $237 ...more  
Comment by doggonemadon Feb 03, 2014 2:29pm

RE:RE:RE:RE:Assets value?

Does anybody now if we are going to get Q4 2013 financials released under bankruptcy protection an a conference call with investors?  Anyone.
Comment by khaledbon Feb 03, 2014 2:26pm

RE:RE:RE:Assets value?

Nine months ended September 30 - 2013 Total assets                480,766 https://www.marketwired.com/press-release/tuscany ...more  
Comment by Fullblaston Feb 03, 2014 2:19pm

RE:Insolvent

But Pennywyse, TID's assets cover its debt totally, that is why it not insolvent. It has difficulty paying its bill on time, that is why it has a liquidity problem.
Comment by khaledbon Feb 03, 2014 2:18pm

RE:RE:Assets value?

I don't know.... In Q1 2013 the total assets value was around 600 mill ...i don't think the M&P deal took 300 milli from that total.... Any ideas? ... In chapter 11 the estimation of 100 ...more  
Post by pennywyse2on Feb 03, 2014 2:15pm

Insolvent

People keep making the incorrect statement that TID is not insolvent it just has a "liquidity problem" Definition of Insolvency as per Wests Encyclopedia of American Law, edition 2 ...more  
Comment by Fullblaston Feb 03, 2014 2:15pm

RE:RE:Assets value?

That's my understanding Sailpgd. Assets are well above debt, market is picking up in South America, heli-rigs are being sold. That is why I am optimistic about TID emerging sucessfully from all ...more  
Comment by sailpgdon Feb 03, 2014 2:07pm

RE:Assets value?

Well, TID's bankruptcy filing stated that their assets and debt combined are $500 million. Since we know that their total debt is $202 million, can we not assume that their assets are worth $298 ...more  
Comment by jakethesnake2on Feb 03, 2014 2:05pm

RE:RE:RE:RE:RE:Chapter 11 vs. 7

onthe case,             Good job with your take on things
Post by khaledbon Feb 03, 2014 2:04pm

Assets value?

Do you know what is the TID's assets value ? is it 300 millions or more ?
Comment by justsomeguytradingon Feb 03, 2014 2:03pm

RE:RE:RE:RE:RE:Chapter 11 vs. 7

Well said onthecase.  GLTA.
Comment by onthecaseon Feb 03, 2014 1:54pm

RE:RE:RE:RE:Chapter 11 vs. 7

Wonderfully well put, RonJadler. You've seized upon some key points: Chapter 11 rather than 7, which means the lenders see an upside to cleaning TID's operational and financing house. The ...more  
Comment by jakethesnake2on Feb 03, 2014 1:31pm

RE:RE:RE:RE:Chapter 11 vs. 7

In no way that I meant that there's fraud in TID, just that the result may be the same as far as shareholders are concerned. I hope that you are right and we will end up OK with this one. Jack
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