Post by
jd43xl on Aug 05, 2014 8:56am
There is an option
Vote this deal down, convert the first debenture to shares when they mature, and the share price would likely be about 10 cents. Then the debenture holders would be the largest voting block, and could pass any deal. Then sell the company, all of it, for 10 cents/share, pay off the other debenture in full, and pay off the bank loans in full.
That way the banks get paid, the debenture holders get paid in full, and the common shareholders get what their shares are actually worth.
Comment by
gearyglbeu on Aug 05, 2014 9:09am
This post has been removed in accordance with Community Policy
Comment by
rad10 on Aug 05, 2014 11:00am
JD - that is exactly the scenario that will likely pan out ............................... Alternatively they will modify the 2016 loan. No need to keep the dead wood on life support..................