RE:RE:I'm Thinking This is a Yes VoteFunfacts, I have to hope that Craig Hansen now wants to salvage what little he has left, from his investments in Zargon. He's only been running the show, for around 24 years, so maybe it is time to sail off into the sunset? How much longer does he want to collect a salary?
The current value of the company, is whatever it is trading on the market for. So I don't think it will go to zero, but maybe 3 cents per share, is a fair market-cap, post deal. But with a higher oil price, it could also rise up. And if the computer trading algorithms finally start liking oil and gas, then we could see some stock movement. But no guarantees for anything.
As Debenture Holders, we are basically at the end of the pack, so it doesn't really mattter if we have the shares, or the debentures. There's been too many attempted deals in Calgary, where they just try to offer Debenture Holders some percentage of their orginal value. That isn't being attempted here, so a check-mark for "attempted" fairness.
Good analogue for CPR on a non-responsive patient. I'm thinking we have the patient on a ventilator, so it isn't that bad: still a pulse, but a weak one. A massive blood transfusion (of debenture debt to equity), might be enough to stabilize the patient. Not sure if the doctors want to save him, or just make their salaries, but I have to have some hope that they want to get a bit more.
Or do they just pledge allegiance on a Hypocrite's oath? (spelling intended)