Post by
LOCKDOWN on Jul 04, 2019 10:37am
******RCG. ICMBAIN******
Leftbook you are buddies with Icmbain maybe you could ask him to post and give us some real information ??? I am not hearing a word from "Fat Tony"things are really quite !!!
Comment by
LeftBook on Jul 04, 2019 10:44am
Damian knows Leigh McBain. I don't. Leigh has spoken to Jack more than anyone. His posts are excellent. I read them attentively.
Comment by
damianchosenone on Jul 04, 2019 12:40pm
Spoke to leigh and he reiterated that he expects no more than 25 million and that is an inflated number. Also expects a shell out of this. Jack told my friend that they are hoping for a shell at best. That's all I know!
Comment by
Juventino21 on Jul 04, 2019 4:30pm
Hi Damian, If it does end up turning out to be a shell, what does that mean for the average joe investor like myself who has a decent size position in this stock? Thanks in advance
Comment by
damianchosenone on Jul 04, 2019 4:49pm
Means that we have a company with 0 debt but 0 properties and 0 management . We have tax credits but will have to search for properties and then find a financing and dilute the shares 10 to 1 or so..basically it's like rewinding 5 years but adding more shares. We are screwed if that happens. Only thing worse is a bankruptcy
Comment by
LeftBook on Jul 04, 2019 4:57pm
alternatively the shell and the tax credits could be sold $10M sale of tax credits at half price + $2M shell = $12M $12M/175M = 6.8c/sh
Comment by
LeftBook on Jul 04, 2019 5:19pm
the tax credits offer significant breathing room to Dufferin Dufferin has an NPV of $89.2M Let's say that the project goes badly and only makes $68.7M post tax. The $20.5M of tax savings results ensures a final gain of $89.2M for the shareholders. The tax credits de-risk the project by 23%
Comment by
damianchosenone on Jul 04, 2019 5:26pm
6 of the 10 bids offered 10 million or less. 2 walked away before they had to put up a deposit before june 14th. The 2 left know that rcg has 0 leverage and can offer less than 20 million. I am a betting man and will bet that we get less than 20 million. PwC does not care about us! George's group walked away after they did more diligence
Comment by
LeftBook on Jul 04, 2019 5:56pm
hmmm. not long ago you were complaining it was a secretive non-competive process now all details are known Are you saying George walked away after more due diligence. Or that George's group walked away from George after due diligence. Or something else.
Comment by
damianchosenone on Jul 04, 2019 6:01pm
George's group did not even make a new bid that was due June 14th. This after they said they were open to negotiations