GREY:TBTEF - Post by User
Post by
FullReversalon Aug 30, 2016 12:54am
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Post# 25189756
Shareholders might lose all, debentures should be ok
Shareholders might lose all, debentures should be ok
Just an observation here, the lesson appears to be:
1. Common shareholders should always remember that debenture and bond holders are in the front of the line. Pecking order. Respect the pecking order. Laws and common practice does.
2. If you buy into these mortally wounded stocks, consider picking the more preferred stocks and leave the more liquid stocks to the traders. I'm following this play to learn and I'm going to write a book. If not, at least an article.
3. Traders felt they would get a quick 6 cents and were buying at 4 cents but when the deal was dead, the traders dumped hard. If I was a trader, would I have picked up shares at 2-2.5 cents today? All there games really, really pushes me to become a trader and join a buddy on these "games".
4. Theives should not be so obvious. Offering the debenture holders 14 cents on a dollar was a blantant farce. Make it more subtle next time. Start with 50 cents and bargain from there!
NOW, what really matters now is what happens next. The crooks running this show got a lesson that people don't go down quietly. Anyone credible care to guess what happens next? I'm guessing things are going to become more vocal?!
Both the commons TBE and the debentures TBE.DB are trading. The debentures holders have a very vocal and influential leader who won't go down without a fight. Shareholders voted "yes" to scum. They got scum. If they compress compress scum enough, you get soap. Just don't bend over again!
The buyers better offer something that is up to North American standards or pack up and head back home where they belong!
Courts won't be kind to the management after all of this. And shareholders burned bad here won't give this jokers a second chance. Boy, they were lucky to con the shareholders to keep them on board. Not sure how that happened. Smell fishy.
Who are the creditors again? You'd figure with a stock $40-$50 bottom on oil and rebalancing well underway, they would revalue BTE on a mid 2016 level not a early 2016 level?
If I was a bid holder here of either securities, I'd be looking for my pound of flesh. The word "rob" seems to come up often here? Why?