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Bullboard - Stock Discussion Forum
Fortress Global Enterprises Inc - Class A
FTPLF
Forest Products
Lumber & Wood Production
Fortress Global Enterprises Inc produces paper pulp, security papers, and other security-related products. The company through its segments produces dissolving pulp which is primarily used for viscose/rayon manufacturers in Asia. Its business is spread across Asia where it generates most of its revenues, Europe, Canada, and International.
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(167)
•••
Contrarian333
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Comment by
Contrarian333
on Jun 19, 2019 7:35pm
RE:RE:RE:RE:RE:RE:RE:155 million shares would roughly need to be issued to repay
Fortress will not create, incur, assume or permit to exist any Senior Indebtedness of Fortress. Notwithstanding the foregoing, this provision shall not operate to restrict: (i) the ability of
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(41)
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nkbourbaki
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Comment by
nkbourbaki
on Jun 19, 2019 2:45pm
RE:RE:RE:RE:RE:RE:155 million shares would roughly need to be issued to repay
From Section 1.2(d) of the Second Supplemental Indenture, posted to SEDAR on Oct 11, 2018: "In connection with the redemption of the 9.75% Convertible Debentures, the Corporation may, at its
...more
Sparta's ERS First to Add Advanced A.I. Nanotechnology in the Recycling Stream
posted Nov 14, 2024 9:00am by
Sparta Capital Ltd.
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"We are beyond excited about NeoSort. It has the potential to catapult the recycling process in a way we wouldn't have imagined just a few years ago. This nanotechnology can do something conventional recycling has been unable to master until now ...read more
(5)
•••
HCI_STEEL
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Comment by
HCI_STEEL
on Jun 19, 2019 1:56pm
RE:RE:RE:RE:RE:155 million shares would roughly need to be issued to repay
From original prospectus” Payment upon Redemption or Maturity: by 95% of the volume weighted average trading price of the Common Shares on the TSX for the 20 consecutive trading days ending
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(41)
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nkbourbaki
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Comment by
nkbourbaki
on Jun 19, 2019 11:59am
RE:RE:RE:RE:155 million shares would roughly need to be issued to repay
Fair enough. But I think the situation here is fairly different from Toscana. From a cash perspective it doesn't make much sense for them to go nuclear at this point, particularly if
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(5)
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HCI_STEEL
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Comment by
HCI_STEEL
on Jun 19, 2019 9:55am
RE:RE:RE:155 million shares would roughly need to be issued to repay
As I noted, I own an number of debs, over the last 25 years. I've encountered a few times where the company decides even the interest payments hanging over them is a burden so they covert the debs
...more
(41)
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nkbourbaki
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Comment by
nkbourbaki
on Jun 19, 2019 8:00am
RE:RE:155 million shares would roughly need to be issued to repay
The debs aren't due for 2.5 years. Why are you making your calculations as if they're going to pay them off next week by issuing shares at today's market price?? The current worries
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(167)
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Contrarian333
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Comment by
Contrarian333
on Jun 19, 2019 7:52am
RE:RE:155 million shares would roughly need to be issued to repay
You have assumed that the dissolving pulp price remains depressed at multi level lows for another 2.5 years. You have also assumed no further improvements to the balance sheet. The torque in the
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(5)
•••
HCI_STEEL
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Comment by
HCI_STEEL
on Jun 18, 2019 10:45pm
RE:155 million shares would roughly need to be issued to repay
Correction 15M shares os. So existing shareholders would own 10% of the company after a deb repayment. Unless they can come up with ~167 million dollars, all they've done is delayed the inevitable
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(5)
•••
HCI_STEEL
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Post by
HCI_STEEL
on Jun 18, 2019 10:41pm
155 million shares would roughly need to be issued to repay
the debs. Just a quick check, I see "$62,100,000 principal amount of 7.0% Debentures remain issued and outstanding. Read more at https://stockhouse.com/news/press-releases/2016/08/19/fortress
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(5)
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HCI_STEEL
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Comment by
HCI_STEEL
on Jun 18, 2019 10:32pm
RE:RE:RE:RE:RE:RE:RE:WRONG Contrarion..... I suspect Step 2 IS DILUTION
There is no limit on repaying the debs in SHARES. I've had it happen on a number of companies debs I have owned in the past, including most recently with TEI (toscana energy). It basically wiped
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(0)
•••
RetireSoonerThanLater
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Post by
RetireSoonerThanLater
on Jun 18, 2019 6:05pm
Quebec Support is typical
Quebec loves to support it's industries with loans (ie Bombardier) so it wasn't surprising they supported FGE further.
(167)
•••
Contrarian333
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Comment by
Contrarian333
on Jun 18, 2019 5:58pm
RE:RE:RE:RE:RE:RE:WRONG Contrarion..... I suspect Step 2 IS DILUTION
I imagine there would be a limit on the $$$ of converts that could be tendered for.
(41)
•••
nkbourbaki
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Comment by
nkbourbaki
on Jun 18, 2019 1:15pm
RE:RE:RE:RE:RE:WRONG Contrarion..... I suspect Step 2 IS DILUTION
What do you mean? The debs are due Dec 31, 2021. The moratorium extends to the same date, but may be extended by another 2 years upon further 3rd party financining. The IQ loan
...more
(5)
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HCI_STEEL
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Comment by
HCI_STEEL
on Jun 18, 2019 9:31am
RE:RE:RE:RE:WRONG Contrarion..... I suspect Step 2 IS DILUTION
Notice the 'extension' runs to one year BEFORE the debs are due!
(167)
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Contrarian333
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Comment by
Contrarian333
on Jun 18, 2019 7:47am
RE:RE:RE:WRONG Contrarion..... I suspect Step 2 IS DILUTION
You won't make any money doing "what the majority expect". Paying back the debs vs paying an interest coupon are a completely different level of obligation. What they have
...more
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