Trilogy International Partners Inc T.TRL.WT.A

RE:Slimeball board chair, half-wit CEO, brain-dead BOD = ASP.to

[mmuloin]

PitchinPennies wrote: To those such as our good friend @Someguy055 who just offered a half-hearted defence of famed film producer Hollywood Ian Ihnatowycz, I'll ask the following: Did you read the Oct. 19 Notice to Security Holders from Acerus? Let me quote the opening sentence (which appears in the circular in bold face). "We currently have sufficient working capital to last one month. We require 100% of the offering to last seven months."

I point out the following:
(1) This is as good as a declaration of bankruptcy. The document was dated 10/19, meaning Acerus will be busted flat by this time next week, as declared and signed by the CEO;
(2) The means which famed film producer Hollywood Ian Ihnatowycz is attempting to use to stave off bankrupcy is to go back to shareholders and try to sell 526,600,000 new shares at two and one-half pennies per share, which 40% below Friday's closing value. That is as good as saying the market overvalues this practically worthless company by a full 40%.
(3) The CEO, "Laughing Ed" Gudaitis, makes two claims on page one of the circular. He needs 100% of the new offering just to survive until May 19, 2021. And six paragraphs down, he says rights are "expected to be issued to subscribe" to about 50% of issued shares. Unless I'm reading this wrong -- and I invite everyone to weigh in on this -- "Laughing Ed" has just proclaimed that based on his expectations and best hopes, the company will run out of money either next week or, if the Hail Mary succeeds, around the end of January 2021 (three and a half months after 10/19). 

So, begging to differ with @Someguy055, but Hollywood Ian doesn't care a fig whether this company lives or dies. He only wants to show Eugene Melnyk he has the bigger d!ck. 

In response to your third point:

In connection with the Rights Offering, the Company has entered into a standby commitment agreement dated October 19, 2020 (the "Standby Commitment Agreement") with First Generation Capital Inc. (the "Standby Purchaser"), the Company's major shareholder. The Standby Purchaser has agreed, subject to certain terms, conditions and limitations, to purchase such number of Common Shares that are available to be purchased, but not otherwise subscribed for under the Rights Offering, that will result in 100% of the Common Shares being subscribed under the Rights Offering (the “Standby Commitment”). Pursuant to the Standby Commitment, the Company will, subject to the terms of the Standby Commitment Agreement, be guaranteed to issue at least 526,600,000 Common Shares in connection with the Rights Offering for aggregate gross proceeds of $13,165,000.