Argex Titanium Inc. ARGEF

Here is the list of the creditors. Study it!

[TomKCam]

Hi all,

I found the list of Argex creditors. PWC, the Proposal Trustee, list all the companies under 'Current Insolvency Assignments' they are linked to. There is different documents available. Currently, there is one for Argex, the notice to the creditors.

Argex Current Insolvency Assignments main page : https://www.pwc.com/ca/en/services/insolvency-assignments/argex-titane-inc--argex-titanium-inc.html

Argex notice to the creditors : https://www.pwc.com/ca/en/car/argex/assets/argex-001_062419.pdf

Here a short overview of the notice :

The grand debt total is $4,716,225.25.. So, there is some large debts and a lot of smaller ones. There is 46 creditors. Large creditors are engineering firms (ASDR, SNC-Lavalin, WSP), Computershare and the company directors. The directors advance count for about 13% of the debt.
 
Some employees are creditors : Davilmar, Moore, Laurent (ex-CFO). Florent Rais, the director is a creditor.
 
An amount is due to Gladys Caron and a small one to 8020.

Again, GLTA,

Tom

[TrueCanuck1]

Unbelievable, only $4,716,225.25 owed to 46 creditors !

[Menace46]

The value of that patent(once approved) is also unbelievable! “Priceless” is the first thing that comes to my mind! 

[CAinPlap]

What would we owe Computershare so much money for?

[Menace46]

As far as I know that is the 2016 notes, held by Mr. Alnami, Mr. Ghali & Mr. Haddad

[TomKCam]

I got a confirmation that this Computershare debt is the debentures debt. Computershare act as the administrator of this debt. So, I have to correct one of my previous assumption. If Argex goes bankrupt, and the creditors are paid with the tech, the directors will get way more then the 13% previously calculated. They will get about 55% of it. Roughly 55% : ($0.6M + $2M) / $4.7M. I think the

[Menace46]

Is it merely a coincidence that the notes(debentures) & the OLD patent are both valued at $2.0X million?? I think not. 

[turr]

Ah, Menace, not to worry, we have regulators in the Canadian Market to take care of any shenanigans.......there may even be an odd one or two that aren't completely BLIND?   But seriously, I do appreciate your posts and the work you put into them...Much appreciated.T

[turr]

Well,  Tom, who would have thought? Insiders doing anything like that.  And, of course, talking bankruptcy, to preclude such a misfortune (for retail investors only) they've been trying to sell this company for months now? You know, to make sure stockholders didn't get hurt to badly.LOL  You guys must have seen those for sale signs all over the market?  And we know

[chris.asme9]

turr, I'd need a 100 bagger just to break even

[turr]

Sorry Chris, I guess there are many long term holders (believers) like you here and really need this company to stay alive and be a going concern to see something worthwhile out of it. I guess anything is possible and maybe management is honest and sincere and care about shareholders and can come up with some kind of restructuring to save the company and retail investors. Stranger things have