RE:RE:RE:RE:RE:RE:Order not filledFair enough, I didn't pretend to be knowledgeable about Crius Energy Trust, and just happened along when I made an offer to buy some of the $6.80 offering and missed out. I decided to do some due diligence before I bought some KWN.UN in the market. I checked out the Stockhouse bullboard, something I’ve not done for a long while. No one seemed to talk about the awful looking financials, so I thought I'd share some of what I found. I admire the optimism many holders of the units display, but find it very difficult to ignore a loss of $171,809,000 over five quarters, $51,430,000 in accumulated earnings turning into a $92,409,000 deficit over the same period and perhaps worst of all, unit holder's equity of $130,855,000 being turned into $21,486,000 negative equity also over the same period. That cannot all be just "paper losses" or write-downs. If you look at the financials as reported, they are a mash-up of the activities of the operating company and some of the operation of the trust. I think the activities of the trust should be much more simple, They have indirect income from indirect holding of shares in the operating company. That would not likely provide an avenue for flow-through losses. There should just be an income stream into the trust that would provide for the expenses of running the trust and paying for the distributions. What the financials show is anything but that. The Trust and the operating company seem to be intertwined. The financials could be interpreted to read that the Trust has bought other entities directly rather than through the US operating company. There is apparently a lot of cash in the company, but somehow that is not part of the unit holders equity, or at least there must be large offsetting liabilities to that cash. I don't own any Crius Trust units, I wasn't allotted any of the recently "bargain priced" $6.80 trust units, and until I have a chance to assess the value of the trust units, won't be buying any. So, I have no financial interests in the units and won't bother the bullboard any further with my comments. Thanks to all who provided helpful comments, Good luck to everyone.
Malahat