RE: a stronger USD bodes well for payout Yeah, I'm feeling a lot more optimistic with today's huge USD rally. It has totally turned around its recent consolidation. Hopefully more bad news out of Europe continues and we can go back to and break the USD highs at the beginning of the month and head higher. I suspect this is a big reason why the Bid is moving up today, along with a general lack of sellers with those wanting the money now already getting out.
https://www.fxstreet.com/rates-charts/live-charts/
Also I did a little research on shell companies last night as I was not that informed on what it might be worth.
https://www.accountingtools.com/public-shell-company
I get this is a US description, but I imagine it is fairly similar in Ontario, however I couldn't find something specific yet. If anyone has an idea how Net Loss Carry forwards work in Ontario I'd love to see a link. That is obviously key to what the shell could be worth.
So I think this may be worth something much more then a few pennies also. Just doing a quick on the napkin calculation, we may have up to 400m in capital and operating losses to carry forward to a potential buyer. This is just the approximate difference between what we have put in. Approximately 800m for all the assets, and funding our loss, and the 405m we are getting in return for our assets. (I believe 800m was what FIU said they raised in funding somewhere, but if someone wants to dig through the books, I'm sure we could find a more exact number.) So with a combined Provincial/federal tax rate of 25%, you do the math with what that could be worth to an acquirer. Obviously we would sell at a discount to this, however, you get the idea..
Regardless though, no one should be selling here. If that iceberg doesn't get any fills he will move up also.