RE:RE:RE:TORSTAR'S PENNY-STOCK STATUS SETS THE STAGE TO A BUYOUTBuilding on what Don had to offer - VertigoScope is heading in the same direction as the long list of Torstar "misadventures."
When they acquired VS in July 2015, net debt was at $78.9 million US. At September 30, 2018, it was $125.6 milllion US representing growth of 59%. Growth in operating revenue in Q3 2018 over Q3 2017 was a modest 6.8%. Loading up on debt to disguise a rapidly declining business isn't fraud, but to those who are clueless (see Voting Trust) this is taking advantage of the mentally impaired.
It is difficult to determine the current value of VS because the disclosed financial information is opaque by choice. The common argument is that you don't want to disclose sensitive commercial information. The reality is it exposes incompetent management decisions and defers the final day of reckoning.
You would have to think/hope at least one of the Board members would screw up enough courage to request a current valuation of VS. I think they would find the $182 million investment is underwater and is taking on more water with each passing quarter.