Caisse-SIOAs we all know the Caisse after many years of being out of SIO got in again on the PPof October 2012 to the tune of roughly 6 million shares and $2.000.000.
That was one of our best years, Samsung S2d switch deal, Vizio, 3DGo,Starz ,National Geograpic, Big Picture, TCL,Hisense, Wilan and a 0.33 PP, we had dates, deadlines,we had everything.
Forward ahead to Sept-Oct 2013 where we in troubles again,could not get a loan-interest, projections and revenues were not there,things were coming but much slow,we had good PRs but still lacked revenues.
The Caisse was approached again I think for besides the need of money to lend credibility.
How can you explain buying shares for less then a third from the year before and to entice with sisters warrants at 0.18.
Their $2.000.000 investement from 2012 could be had for $600.000 again with the warrants to boot.
Routhier-Laberge sold their shares and bought on to the PP to raise more money through the gypsy trades done by GM.
Between them they accounted for over 50% of the PP.
Forward again to Nov 2014,after another year rich on PRs but still low in revenues and the Caisse was approached again for another lifeline not only of money but again credibility when the shares were trading around 0.205-0.21,not really the right time to exercise warrants when the shares had been up into the 0.30s
The Caisse obliged again,but I imagine at this time things were different.
They were here for the long run,they were protecting their investment,they were thinking deeply.
With that cashing in they were over 14.500.000 shares,way over the 10% needed for changes.
Now,after seeing this horrendous execution of the 3DGo-LG deal can they be thinking like we do?.
Remember with them there`s no money problem, they have at last count in excess of $175 billion, 313 securities and roughly (right now) only $3.000.000 with SIO, it`s a matter of face.
If you listened to the last CC Routhier did not have the zest he usually does,the CC was very short, again RG put him on the defensive with his questions and it was RG that asked again if the 50.000 was really doable and it was again RG that mentioned the 100.000 for year end 2015.
Never in Wonderland would Routhier throw a Tweet for a PR with the little face :-), never.
The way things followed till today with without an update to the 3DGo website before releasing the PR.
There was no mention of Panasonic either, and if you can get the CC from October when LG should have launched the 50.000 were for year end 2014.
Huge changes and missed dates.
Has he been reprimanded?, does he have his walking papers? assuming it could be done without a fuller consent at the AGM ?, I just remeber the CPR fiasco last year, it was ugly but it was done.
If the Caisse exercises the rest of the warrants they nwill be close to 17 million and the big question is: who are GM and Beacon buying for?.
An alliance made in Montreal ?,made in heaven?, just made?.
I think we are in for some changes,maybe drastic maybe deep but changes.
Like always IMHO.
Cheers