GREY:SFMGF - Post by User
Comment by
valueplaysonlyon Oct 28, 2013 8:52pm
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Post# 21856416
RE:RE:COMPLEX FINANCING
RE:RE:COMPLEX FINANCING Im not sure if an injunction would work. Two weeks ago on the TLAB bullboard I said the stock was being accumulated by a skilled trader in preparation for a low bid stink offer. I could see that techincally the stock was poised to move to 3.50 once it cleared the 2.50 resistance level. Every time it hit 2.50 it was ruthlessly brought back down. Then a garbage 4 % premium was offerred last Monday , 2.44 offer price when stock was 2.37 on the close on Friday.
Here is where it gets stinky. Management AGREED to this garbage low ball offer because at price of 892 M, approx 110 M of that was for management and key officers to steal. Since then there must be 50 to 60 lawsuits challenging the take over offer as fair. The question is why TLAB is being taken over with such a low premium and to why management supports this garbage offer. The answer is once taken private, as in this case, the hedge fund can double or even triple the pay as a reward to management for selling out at a song.
It all comes down to this. Will the courts intervene in TLAB or in Sofame. Its the exact same game here. Will management work to execute whats good for long term shareholders or is the goal to steal the company by delaying a key reporting period, delaying a sale etc, to allow the creditors to steal the company. Remember that the entire equity of Sofame was collateralized against the loan of 250 k. Did any of the insiders Luc Mandeville, John Gocek et all, step up to the plate to buy huge tranches at 2 cents. The answer is no.
To me that tells me management is already complicit in its actions in delivering the company for rock bottom price at multi year low to the creditors. This happened with Compton Petroleum last year. And I 'm not holding my breath a white knight will emerge for either TLAB or SDW.