CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

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CANEXUS CORP 6.5 PCT DEBS > earnings

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Comment by Khersonon Jul 03, 2016 7:27am

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Post# 25017661

RE:RE:earnings

Kherson wrote:

leo101 wrote: like all their earnings reports, the first part of the report looks good until you look under the hood and see that they are basically in breach of the relaxed bank covenents and have a negative outlook due to weak demand from the oil industry for their chemicals. but as long as superior is happy, all this is just noise.

Is Superior Plus actually happy with the Canexus Year End Financials? Canexus has stated that they now need even more money to remain solvent before the proposed merger is completed!
The problem with Canexus being given more money to remain solvent now is that it will be Superior's responsibility to pay that money back if the merger is indeed completed! I don't think that Superior will allow Canexus to take on more debt, therefore I believe that the proposed merger will be terminated by Superior!
Kherson