Urthecast Corp LFDEF

UR gets CSA contract

[Empire123]

Canadian Soace Agency for $574,862 for future Earth Observation Systems. Why is the CSA granting UR money when it's in bankruptcy protection? I feel like I'm missing something. Since protection, UR news with Microsoft, Geosys new deal, US National Defense and now the CSA. I don't get it.

[ernieballs77]

ITS BANKRUPT...move on

[URthereum]

Source?

[URthereum]

Seems to be for $350,000. Source: https://www.asc-csa.gc.ca/eng/industry/news.asp Canadian Space Agency: 2020-10-05 In a country as vast as Canada, observing Earth from space helps our government monitor and protect the environment and the North, manage our natural resources, and ensure the safety and security of Canadians. Canada's RADARSAT satellites have been monitoring our country

[Empire123]

I got it from Space Q. 

[Cowbaystocks]

I may be wrong but I think they are coming out of the protection, really as of Oct 3rd. I went through the EY docs, they stated they didnt need an extension beyond the one ending Oct 3rd. They had a cash flow analysis done on the 5 mil that was going to take them through till mid december. They still have to sell assets though to pay off the loans. Im not totally sure what's on the go here

[Cowbaystocks]

The Monitor’s Observations 36. The Petitioners are not currently seeking an extension to the Stay of Proceedings beyond October 3, 2020. However, Management with the assistance of the Monitor has preliminarily developed an updated cash flow forecast (the “Cash Flow Forecast”) for the period beginning on September 23, 2020 and ending on December 18, 2020 which assumes the Petitioners have full

[Cowbaystocks]

SISP that is being referred to here is from this.... Petitioners to develop and implement a Sale and Investment Solicitation Plan (“SISP”) for core elements of the Petitioners’ go-forward business plan and the sale of non-core assets. I was at abot 99.99999% certanity that our money was lost.... but it wasnt 100%, I dont know but this may not be a complete loss here, we may still get out with

[WhatTthe69]

lol ohhh Ernie...what an invalid.

[URDisaster]

For sure no one likes UR goes bankrupt but misleading people and distribute wrong information is outrageous. UR requested an expention to stay under protection until Dec 18th. Even UR secure some money to be able to sell assets and pay off some debts does not mean they will not go bankrupt given they are almost 40 Million in debt and at least need 50 Millions to be able to move on with the