OTCPK:CUUHF - Post by User
Comment by
shnepson Apr 01, 2020 11:18am
184 Views
Post# 30868246
RE:RE:Sub-Trade Community
RE:RE:Sub-Trade CommunityStaurt Olson policy, since the beginning of the year, was to not pay anybody (subs/suppliers) unless SOX needed something from them. Other then that it has been no money goes out the door. Always keep in mind that most of their "backlog" are not actual contracts, they are merely the opportunity to be of usually three exclusive contractors to bid on the work. i.e. the Ontario Power Generating contract. As with the oil sand projects the contracts are to perform the maintenance work, if the work goes ahead. All these 50% reductions in the sector will effectively damage Sox's next to quarters.
Not looking good.
I figure buyout for peanuts (due to debt) will be the end outcome.
Cheers