Great Lakes Graphite Inc GLKIF

RE:RE:Maybe not done yet?

[Floridas2000]

Aidan001 wrote:

OrsonModesto wrote:
Sold most of my holdings in GLK awhile back, so I don't have much to care about, just wanted to see them succeed, but I am hearing rumblings that there is a buyer for the company that should solve most of the OSC's issues with GLK including the loans in default and the flow-through share issues. Supposedly the deal includes two fairly significant supply orders recently signed during the halt. I have no idea if this is true or not but comes from a decent source that works in the industrial materials world. I don't know where this leaves Paul and the rest of the board.

If there is a buyer, where does that leave shareholders?

Hmm.  I heard there was a significant supply order as well.  That's why I was caught off guard by this.  The talk of being bought out was from earlier this year and a couple posters had mentioned that to Paul.

Thinking out loud and that's it.  Bruce Reading is a smart guy and has built several companies before.  He would have experience with M & A.  It's possible OSC was holding this back and the only way to resolve it was if everyone quit.  Then they can proceed.  I'm reading what others have posted and everyone is sort of right.  1)  They owed a lot of money and had issues with flow-thru shares (luckierjack and bueboy) 2) There was talk about a large contract coming up (Uncleron) 3)  No talk of bankruptcy or insolvency (Bullmoose)  4) the fact that all their partners are doing so well and hints from Paul on something big (Everyone) 5) a large order was sold which meant a large order was also bought at a discount (WindowOrphan).  Out of all this Orson's response ties everything together.  

In terms of shareholders it doesn't have a direct impact.  We bought shares of GLK / Novocarbon not the board of directors.  If the company gets bought out I assume we would have to approve it.  Trying to contact Paul and the board would be useless now.  They can't answer to you.  The person to talk to is Mike Coscia if you really want to know if they're still in business.  Never seen this before.  Still a very strong chance it goes under or the large supply order is true and trading resumes to a huge pop.  Very odd situation.