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

RE:RE:RE:RE:25% holders rattling the cage

[Kherson]

phoenix_trader wrote: Kherson gets it wrong again... This guy is clueless..............................Canexus said that MEG has "no legal justification for its refusal" and is seeking to enforce the terms and provisions of its pipeline agreement to allow it to immediately complete and commission the tie-in. Legal action is being taken to protect its NATO business, it added.

The problem is that the Market can not trust what Canexus says as being true. Just look back on the whole Blunderheim fiasco. Now they also have an ongoing lawsuit with SPB, the same company who initially wanted to buy this disaster until they saw the books.
What folks seem to forget is that Canexus has a book value of less than zero. I will agree that Canexus has some great assets, but they simply owe too much money! As an example of the financial mismanagement at Canexus and of course it was approved by the clowns on the BOD, when Canexus was paying a dividend, one of their quarterly payout ratios was around 500%!
Kherson