Re: Distilled Financial StatementsWhen Financial Statements are produced they must be in a Standardized Form that is acceptable to the Legal Community in the event that they come into Dispute.
Unfortunately when it comes to us mear mortals, who in all likelyhood do not possess the necessary legal degree to comprehend the legal jargon's twists and turns, we must never the less take what we can from our attempts to read the Statements.
What you must do is look for Signposts that point in certain directions. By all appearances the Signposts appear to be pointing in the right direction.
Time is the Great Revealer. Debt appears to be shrinking, Efficiency is running at peak, Sales are solid, the Paper Industry is coming out of it's Cyclical Slump and all lights appear to be green.
A little interesting fact from the Financial Statements, is the fact that Repap, for all intents and purposes, were forced into liquidating it's out of Province Holdings. The Money's received from the Liquidation Process, along with the new Commercial Debentures (promises to pay with interest) were used to pay off all Creditors in Full. Now they have basically 4 more years of time to Restructure with an aim of completing their Debt Obligations.
Under the Terms of their Debt Restructuring they have Restrictions in place that will not allow them to incurr any more Debt. Another important Signpost. Not definitive but never the less encouraging.
What will come? Only time will tell. Good thing Repaps not a Small Company.