RE: Does SI hold the debenture? - Invest, check jeepman’s post “Portion of RFID Journal”
Here’s the relevant excerpt:
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Sirit says it has entered into an agreement with SAMSys and the holder of its outstanding debts to acquire the firm's assets and undertakings through a court-appointed receivership process. The firm says it is purchasing the company and assets, but not its debt. "We do not have to deal with the liabilities or debt that is associated with [SAMSys]," Dawalibi claims.
The transaction, pending approval by Ontario Superior Court of Justice, must be completed by Apr. 13, after which the two public companies, both traded on the Toronto Stock Exchange, would reveal the terms of the deal. Dawalibi says the tight timetable is important. "It's an uncertain time for [SAMSys] buyers, customers and partners, so we want to get this done as soon as possible so that hopefully, no one will miss a beat here."
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Seems Wellington’s been paid out by Samsys. If Bobo’s posts are to be believed (he posted his calculations somewhere, but I’ve lost it), Samsys paid cash with $1.3M to spare. Curiously enough, about the current market cap at .025/share.
But there’s something else that’s been going on too. Somebody or several somebodies made a whack of dough shorting this stock over the last couple of weeks – I’m sure of it. They may be unrelated to any of the players that orchestrated the demise of Samsys, just taking advantage of the news as it came out, but I wonder…
I’ll be emailing the OSC and TSX tomorrow.