Great Lakes Graphite Inc GLKIF

Maybe not done yet?

[OrsonModesto]

Sold most of my holdings in GLK awhile back, so I don't have much to care about, just wanted to see them succeed, but I am hearing rumblings that there is a buyer for the company that should solve most of the OSC's issues with GLK including the loans in default and the flow-through share issues. Supposedly the deal includes two fairly significant supply orders recently signed during the halt. I have no idea if this is true or not but comes from a decent source that works in the industrial materials world. I don't know where this leaves Paul and the rest of the board.

[Aidan001]

If there is a buyer, where does that leave shareholders?

[OrsonModesto]

Being bought out or joining the new company I would assume. I don't know if it is a public or private company, but supposedly the deal is worth north of $10 million due to the supply orders in place.

[Floridas2000]

Hmm.  I heard there was a significant supply order as well.  That's why I was caught off guard by this.  The talk of being bought out was from earlier this year and a couple posters had mentioned that to Paul. Thinking out loud and that's it.  Bruce Reading is a smart guy and has built several companies before.  He would have experience with M & A.  It

[uncleronstips]

another sensible post Floridas. Unlike the uninformed doom & gloom from luckierjack. Paul Ferguson is there @ Novocarbon, not maybe, he and his family have millions invested & 15 years for Paul. He want's to save this investment , obviously. I see a shares for debt coming . The amount of business and connections made in the last few years is not a figment of imagination. The big order

[Luckierjack2]

Uninformed?????   Hardly.  I know far more about capital markets than you will ever know. I also know that when the board members all resign, the company can no longer operate.  It cannot pay its bills, it cannot makes decisions and on and on.  Paul may be working to save the millions put into the company,  but to say the director resignations is to get OSC approval is

[Floridas2000]

I agree with everything you say financially about GLK.  However when all board members resign they appoint new ones.  One example, the executive board is on a plane that crashes (dark I know).  The company doesn't dissolve.  A new board gets appointed.  How that process works I am not sure.  The fact the company is still trading supports this or it would be halted