GREY:STPJF - Post by User
Post by
stphouseon Dec 18, 2014 10:44am
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Post# 23244170
STP debt
STP debtit owes over 600 million. 1 billion in assets. this company was losing money in operations even when oil was $100 /barrell and was pay 6-10% interest on the bonds.. credit rating is CCCC and if STP wants any new loans now it's 15% interest. and nobody will lend. share dilution or total wipeout of current shareholders and shares issued to debentures holders. this company is better of just selling off assets or shut down operations. it's losing 50 million/year in cash just paying the interest. it can just shut off operations. layoff workers an sell the and return the money to creditors and maybe throw a bone to shareholders ith 5% share dilution mostly like current shareholders get nothing. or the min. bid is .005 at TSX