GREY:PRBEQ - Post by User
Comment by
Papagalloon Mar 17, 2017 7:51am
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Post# 25992184
RE:One week to go
RE:One week to goIf they cannot or will not reach a resolution on the debt and elect to force the company into bankruptcy then minority shareholders have every right to proceed with a class action against MORRISON ENERGY GROUP, CHET MORRISON CONTRACTORS, CHESTER MORRISON, and bring maximum exposure to this matter.
Recall March of 2015 that the company managed to increase their debt in a lower oil price environment, and stated that confidence from lenders on the newly formed vertically integrated model was solid and would provide exploitive opportunities through the downturn. You can't have it both ways. Cry when oil is low and cry again when it recovers. This company has NOT been transparent or forthcoming. They have acted in a self serving manner against the interests of minority shareholders. Egregious salaries for CEO and CFO. Morrison sucked out $10 million cash. CMC continued to promote and sell MWS as its own. Something very wrong here.
MORRISON ENERGY GROUP should take this company private or face the oncoming wrath.