Tangelo Games Corp. IPRSF

I would rather...

[Dcroax]

Loose everything I have in this sh1t stock and see Lathier unemployed than take any deal. VOTE NO!!!

[Champ87]

Altough very frustrating, willis is right this is over. Better this offer than nothing. Lanthier will leave anyway after this. Just voted FOR. Can't afford to lose it all. TEC is in charge. Many offers received but all implied TEC to lose a big part of their loan. Big setup probably but we'll never know, small shareholders get penalized as always...

[Dcroax]

Hey champ, are you suggesting selling now for whatever we can get for it? Or voting yes and waiting this out?

[Bangkokboy]

I believe he means accept the offer so the cash amount per share will be received after completion of the corporate action. Yes we were played and I know what people are saying "why give them the company for nothing"? Though, I see it a different way. If not accepted then yes everything goes t!ts up, but still I'd rather receive the cash so I can at least make it work for me. How

[Champ87]

Exactly what I meant. Accept the offer and move on. No other option, even if this couldn't look more like a setup. Believe me, I am loosing a lot more than 9k$. At least I want to make what's left work for me. 

[Dcroax]

So are you selling or holding?

[Seadooxp1]

Why would you not force TEC to sweeten the offer and accept their first pass?  Seems like everyone forgot that Tangelo paid $20 to $25 Mil to TEC.  It would be interesting to note how much of the debt is fees, extensions, etc. Plus, the note isn't due until April of next year and I'm assuming there is significant risk/cost with calling the note at that time.  Doesn't it

[Freelunch5]

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[Freelunch5]

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[Freelunch5]

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[willis888]

there will be no trustee.Just like a house mortgage .The bank would take over your house .TEC is first in line.It is all theirs now to run as they see fit.There will be no fire sale.I bet the company doesn't miss abeat and just keeps running as nothing happened.Only private now and no debt payments to make,no covenants to break....I bet it's all over tomorrow.

[Seadooxp1]

I understand TEC is first in line but they can't forclose until April 2019.  Why would I move out early and not see what happens?  Even if TEC wanted to call the loan they can't.

[Freelunch5]

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[Seadooxp1]

Interesting post and brings up an interesting scenario.  Its obvious Lanthier and Vincent already have a deal in plage with TEC.  There is no way Vincet is walking away from 15 Mil shares without some upside. Since this special session is bundled with the AGM we get to vote on the directors.  The perfect outcome for shareholders would be they vote down the offer and directors

[willis888]

Hey dumblunch,you don't think they secured their votes before.You watch tomorrow.They planned this to perfection to cheat us/There is nothing anyone on this board can do about it .Nothing.Wake up and deal with reality. They extended to next april because we can't repay.We are breaking covenants if you read thru thru sedar.They can put us into bankruptcy tomorrow and we all get zero! no ifs

[Seadooxp1]

I must be missing something.  How can they extend they covenanats to April but put us into backruptcy tomorrow?

[willis888]

They extended the loan term until april 2019.We are breaching covenants all the time,thus breach of contract....They have us by the balls.No other way out and no one willing to rescue us.