GREY:SMDWF - Post by User
Comment by
JohnnyTSXon May 25, 2016 3:42am
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Post# 24901966
RE:RE:Interesting sections in this link
RE:RE:Interesting sections in this linkHere is what I know about CCAA in Canada. If total liabilities are $5M or more, then CCAA applies. If they are less, then it's a slightly different, but similar Insolvency Act in Canada - I can't recall the differences, but I'm sure Google will know. In either case, once the process kicks off, creditors get in line depending on secured/unsecured, etc. Now for the bad part, the most important thing for us to know is that common shareholders are usually dead last in line and rarely made whole or even partly whole. If by some miracle CCAA results in a reborn Vidwrx, our shares are likely to be wiped out and new offerings will occur hence Insolvency/CCAA = game over for us. As I've mentioned earlier, they haven't filed yet (to my knowledge) and until they do, there remains a single thread of hope. GLTA.