Post by
Sonofmshade on Aug 16, 2016 3:56pm
So what now?
Do we go to zero...or does someone come in and take it over? Or do they make a deal?
Funny that almost every other struggling oil company has made deals to salavage shareholder equity and yet the scum merchant Wright and buddies have managed to come up up with a overly complicated clusterf*ck plan to rob everyone yet keep their jobs.
Would be nice to see someone come in at .50 cents per share, make a deal on debt and get rid of the criminals and be left with a great assets and company. Like Penn West etc....
2nd tier should be actively beating the bushes to get a buyer(Chinese maybe?) and stop this hijacking in its tracks.
Comment by
bushhog1 on Aug 16, 2016 4:50pm
3.5 years ago, LTS had about $3.5B worth of Assets. Since then they revalued and wrote off all their Assets. They still have all these Assets (included tangibles) plus additions Now they trying to sell 95% of these Assets to the Secured Bondholders for $650us Lightstream surely is not working for Shareholders. Interesting to see them pull this off.
Comment by
UniverseofLimes on Aug 16, 2016 10:40pm
Again, look at the graph since inception of Lightstream, formerly Petrobakken, and decide if you think this company has ever worked for the shareholders. Wright has only and will only destroy shareholder value, yet the shareholders pay him to continue working his magic and his magic always translates into a red colour on the exchange with a graph that looks like a cascading waterfall.