2242749 Ont Ltd. AIIFF

Are The Vultures Are Circling?

[GladIMGone]

I've heard from a couple of different sources now that the Armtec competition has been visiting various plants around the Country. Has the bidding begun for various pieces of Armtec? The second quarter results should be out soon (next 3-4 weeks I would think). Are they going to borrow more money to keep afloat for the 3rd and 4th quarters too? Management still flogging the almost dead horse? Would it not be best to sell when the business season(s) are peaking to get the best price? That would be my thinking. Time will tell.

[Thethruthhurts]

I've heard the same as well with the key problem being the age of the assets in Ontario. Little if any capital has been INVESTED in the company since the blitz purchases by Armtec in August of 2008. An now we get the news release that YES we are hitting the covenant targets BUT.....we still want to borrow 7.5m for the summer. Good luck with that -- how about giving indications of where the