RE:RE:RE:RE:Questionsbrianjoyce2 wrote: Well, it would SEEM that US share holders would get the cash payout as stated, but not until things close; however, given the utter lack of integrity and the apparent disdain for shareholders held by both the Core Board and the TITan board, I figured they would find away to return pennies on the dollar I would have thought to get in the cash payout, so that is a big reason why I sold (did NOT tender). You can't trust the board going forward, as indicative by their past actions. Why ever would they honor their proposed terms; they've not honored their past statements, and have not suffered any consequences. It is human nature - if people get away with a crime, they'll just do it again since their risk of getting caught is nil in their minds. THe more it happens the more they feel they are untouchable and the grander the fraud goes on, next time, next time, etc. If crime recieves no punishment, well, there you have it. bj2
If Titan was required to pay cash (instead of shares) to any non-Canadian shareholder, wouldn't the deal already be dead because Titan would have to give Javier Reyes (and his very Mexican friends and family that hold shares) cash they don't have for their tendered shares?
It's also entirely possible Anonymous (that is gobbling up all the shares) is a non-Canadian actor that believes they will get cash for Core shares so that's going to pose an interesting problem for Titan if they have to pay out. Would regulators actually force a company into what they would claim is bankruptcy/insolvency to pay out cash instead of shares to an "unexpected" volume of cash claims? The shareholder register probably showed that the vast majority of shares were held by Canadians when the takeover bid was announced and maybe they'd just claim "mea culpa" and say for the sake of all shareholders they must issue shares instead of cash to these non-Canadians.
Alternately, it would give Titan (with Core properties in hand) an excuse to immediatley flip to whomever it was that gave Titan (a company with virtually no instrinsic value) an unsecured, multi-million dollar loan for a song on the justification that they face insolvency otherwise due to the "unexpected" cash payout requirements.
So is Anonymous a Titan friendly buying shares to tender or is it a non-Canadian expecting cash (and will they be horribly dissapointed/lose their shirt or perhaps the Titan deal dies as a consequence)? The saga continues.
The fact that Titan was able to state that non-Canadian shareholders get cash while Canadians get worthless paper of the same alleged value is the real shame in all of this and is what faciliated this scam. It remains to be seen if they actually intend to pay out, because if Anonymous isn't a Titan friendly, it's definitely not a Canadian actor.