RE:Pumpers have been EXPOSED - all liesBubbaTheShrimp wrote:
1.) So, where will we be January 1, 2019? My prediction is 0.2x
2.) I wonder who they were trying to dupe by having Bejoy buy a few insider shares?
Re 1.): What makes you so optimistic, all in a sudden? I don't think they can avoid calling in the receiver by June 30. Selling the property will not do THAT much for the balance sheet. It gives them relief on the "current assets/liabilities" front, but it also removes the last remaining solid item in the non-current asset class. According to the Balance Sheet, they will get C$17.1 million for the PPE. That's about US$13.6 million. On the books, PPE is valued at US$12.8 million. Notice that there is hardly any windfall. First mortgage, second mortgage, shareholder loan (notice that the Das Gupta interests rank that high!), lease arrears, upgrade to the leasehold as demanded by Daimler, 2018 lease obligations, MIssissauga lease obligations and loan carrying costs will amount to the lion's share of these US$13.6 million. That amount is also not net, because real estate fees take out 5.65% in Ontario....
Re 2.) Well, it worked on me: they duped me into getting out of my short position. Feeling slightly embarrassed by this, but it worked....