Shoreline Energy Corp SHGCF

RE:RE:Reserves $5.23/sh, stock price $1.50

[PruneFace]

I'm not sure the company is going to zero since they do have an asset. However, Lillis apparently didn't think the company was worth what was originally proposed and revised the offer downwards. I believe the company will find a buyer but it will likely be for less than Lillis' revised offered. Obviously, the longer the company goes without capital, the more the production declines, reserves deplete and value is eroded. The biggest mistake this management group has made other than over-promising and under-delivering was biting off more than they could chew. Who makes a deal with no means or even a plan on how to pay for it? Then they're over the barrel when they need to pay up and are forced to make a deal at stupid interest rates. Really, really poor. A possible scenario might be default on their debenture interest and a re-organization with deb holders getting the company for 10 cents on the dollar. Existing common shareholders will likely get little or nothing in that event.