TSX:SGR.UN - Post by User
Comment by
PruneFaceon Dec 30, 2014 3:37pm
512 Views
Post# 23273203
RE:RE:RE:DON'T PANIC!
RE:RE:RE:DON'T PANIC!Which maturity date are you referring to, tradernick? The $50 million unsecured deb issued in March 2013 has an 8% coupon and matures March 31, 2018. The more recent deb for call it, $2.6 million at 14%, is secured by the assets of the company and, as far as I can ascertain, has no maturity date. That in itself is odd IMO. It would be difficult to believe that the saviour Gibson had no knowledge that the company would be filing for creditor protection a mere 5 days after the loan's approval. So now if all the sh%t hits the fan, those johnny-come-latelys get the company for peanuts, not that it's worth much more. But what happens to the $2.6 million? A nice parachute for the saviour who was never in a losing situation. Attaboy Greg. How to look out for the shareholders best interests. Screw a bunch of KER shareholders as well as SGR's with a bogus merger proposition, sign over the assets of the company to a bunch of vultures, probably your buddies IMO, announce that a proposal to creditors is in the works, effectively hooping everyone except the new deb holder, and suspend trading in the stock on Dec23. MERRY CHRISTMAS EVERYBODY!!!!!!!!!!!! Then today, Dec 30 the TSX plans to delist the shares altogether at the end of Jan. HAPPY NEW YEAR!!!!!!!!!!!!!!!!! And to think Gibson had the balls to say a few months back that SGR would be trading at a buck in a year. Only indiots like FirstDumbDumb, gasinvest and TW(I)T would fall for something like that. BWAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!