KGIC Inc LGLTF

KGIC receives BDO support for proposed restructuring

[birdie22]

KGIC receives BDO support for proposed restructuring

KGIC Inc (C:LRN)
Shares Issued 179,169,923
Last Close 11/4/2016 $0.015
Monday November 7 2016 - News Release

Mr. Alex MacGregor reports

KGIC INC. ANNOUNCES RECEIPT OF FAIRNESS OPINION FOR PROPOSED RESTRUCTURING

KGIC Inc. has received an independent fairness opinion from BDO Canada LLP related to the capital restructuring and debt settlement offer made by the company to the holders of outstanding unsecured convertible debentures, preferred shares and subordinated loans, as detailed in the company's press release of Sept. 26, 2016. The fairness opinion confirms and concludes that the proposed debt settlement plan is fair, from a financial point of view, to each of the holders of unsecured debt securities. The company requested the fairness opinion to ensure a thorough process in its evaluation of financing options and to provide a balanced view to such holders of unsecured debt securities, some of whom have yet to agree to the proposed restructuring.

If the proposed restructuring is not completed, the company's ability to continue as a going concern may be significantly affected.

We seek Safe Harbor.

[banx]

Excellent news. I believe they need that for the court process to facilitate the plan of arrangement. There were a few holdouts i heard. It will just take longer but with a majority coupled with the fairness opinion the deal will eventually get done.

[wictor11]

Once the deal happens or should I say if it happens what do you guys expect the share price to be.  I personally like the turnaround story and glad to see some light at the end of the tunnel.  Cheers

[jimbrofski]

"If the proposed restructuring is not completed, the company's ability to continue as a going concern may be significantly affected." IE Corporate blackmail is all we have left. Just in case you are wondering, this never ends well.

[BearishBull01]

They are legally bound to make that statement.   You must understand that this company cannot fail. The investors and the bank cannot let the company go underwater. There are over 20,000 students enrolled and hundreds of employees. I was fortunate to get in but a very cheap price between .02 and .01.   Since the company has hired new management and Alex McGregor has shown dramatic

[jimbrofski]

too big too fail. LOL. Cannot fail. LOL. They have failed. 20,000 students. Really? Right now? Wow. Thanks for the accurate and valuable info. Now get back to that pipe you been smoking. There is no proof for ANYTHING you just said.

[BearishBull01]

 It's in every news release and company report at the bottom where by law they have to write the truth and fact about the company. It literally says 21 campuses with approximately 20,000 students. If you can't do simple reading in the news releases and company info then there is a serious problem in your investment and social skills. If you going to add anything to this board bashing

[jimbrofski]

you are one blind fish. 21 campuses with 20000 students. Just to keep it simple for you, lets say that's an average of 1000 students per campus. Not go to their websites all the schools and ask what current enrollment and/or maximum capacity is. Then do the math and call me. You'll be glad you did. Or you can simple go by their word. Whatever you choose. That's called BASIC

[jimbrofski]

Or, to keep it really simple for you since it appears you can only read, KGIC Vancouver is their biggest campus in the network. It has 34 classrooms(https://kgic.ca/locations/vancouver). They have class sizes of 15 or less(https://kgic.ca/programs/english-for-adults). So if each class is full, that's 34x15. Are you with me? Good. That's 510 students at full capacity(which we all know they

[jimbrofski]

Just reading a press release by a company with such a strong track record of chicanery on all fronts is what we call DOODOO diligence

[schoolboy]

They perhaps mean 20,000 students per year. They definitely don't have that number at any given time. Anyway, they are definitely not too big to fail. Creditors will cut their losses when it makes sense (or sometime shortly after that).

[InternalAudit68]

This post has been removed in accordance with Community Policy

[rinchengyatso]

This is the exact same statement that the CEO Klerer made last year in early December, the 6th, I believe. The Victoria campus has reduced the teaching staff from 15 or so down to 7 and the classes are nearly empty most of the time. There are almost no Korean students left, and for some reason, the massive numbers of Indian students from English-speaking universities there must be tied up in

[banx]

rinch, your reference to a Klerer comment has no foundation nor timing synchronicity. Teaching 10 students and having one ex kgic teacher representing a full staffing complement doesn't qualify you to critique someone who is your intellectual superior. How did you fund your school venture? Birthday money rec'd over the years? Loyalist/Kgic died last Dec. Big Mac resusciated the business

[jimbrofski]

hahaha Banx you are rich.