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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by dbeaudeon Sep 08, 2013 9:15pm
279 Views
Post# 21726160

Yes, TID is greatly undervalued....BUT

Yes, TID is greatly undervalued....BUTIt is near impossible for them to meet its loan repayment committments. The company needs a financial restructure. They have a payment due this week and the beginning of the the quarterly principal repayments of $12,876,000 in December. The term loan needs to be restructured real soon and the revolver rolled over. As well, the banks will likely require Tuscany management to put some significant cash on the table in order to do so as they are in the drivers seat as their loan is secured against the assets of the company which is liquidated would very likely cover the loan value. We need a rabbit to be pulled out of Dawson's hat. This week should be interesting.
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