RE:RE:RE:Q3 CC: $5.5 million are coming by the end of JANHey OTC,
As I previously mentioned, I believe that CS if firmly in the drivers seat here. There are of course 2 outcomes - successful reorg or bankruptcy.
I am sitting on a significant investment and want to see this successful, however there are a number of items that I believe will be crucial in determining the outcome of this story:
- has there been some resolution to the outstanding receivables that will provide sufficent comfort to CS that ongoing cashflow is sustainable?
- has there been a business arrangement with e&p companies that will improve/guarantee rig utilization? Will these fees be collectable?
- is there a buyer lined up for assets pre liquidation that will help relieve some debt?
- is there a pending cash investment from the old M&P shares on the horizon?
The list goes on...
IMHO the short window that CS has extended either indicates that TID didn't complete the Ch.11/Ch. 7 filings on Friday as they defaulted on their payment
or CS has validated incoming money that will see TID thorugh the short term. Heck, if they can collect another $5.5M and then liquidate, they are still coming out ahead.
We are 6MM shares into a trading day... your guess is as good as mine. Feels like black or red at the roulette table with a better than average chance of a 00 that will leave us all on the losing side.
GLTA and if you can't afford to lose what you have let - sell it.