OTCPK:VGIPF - Post by User
Comment by
uogradon Apr 27, 2013 8:08pm
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Post# 21310283
RE: RE: banks must have given them a warning
RE: RE: banks must have given them a warning investor,
i agree with most of what you said but i think all those talks already took place between the old board and the banks over the last 60 -90 days and proved fruitless.
hence on friday they brought in 3 new board members who really are new to the company and put them in charge of selling the company. that tells me the banks got tired of the old board looking through their rosey red glasses and want some guys who can read a balance sheet and can see the company bs line is not what it appear to be.
don't kid yourself this company is in jeopardy similar to lone pine or pine crest or others who have taken on to much debt have seen their share prices crippled and have now shown that for all the capital they have spent, the production gains have just not justifed the expenditures.