Lightstream Resources Ltd. LSTMF

LTS Purchase Price - no mention of existing shareholders

[myfriendtrend]

Purchase Price 31. Purchase price is calculated as the sum of: (a) Credit Facility Payout Amount represents the payout of the First Lien Lenders. (b) Assumed liabilities includes, among other things, liabilities under the Assigned Contracts, Environmental Liabilities, all Taxes related to the purchased assets, all Trade Payables and not yet invoiced or paid reorganization costs, accrued vacation pay for Transferred Employees, Priority Claims if not satisfied through the Reserve Amount. (c) Credit Bid Amount represents the debt owing to the Secured Noteholders including principal, accrued interest and make-whole. (d) Deficiency Payment is calculated by the Lightstream Groups cash on hand at closing less hold backs for the Reserve Payment Amount and the Wind-Down Amount. Based on the revised cash flow forecast presented below this amount is expected to be nil as the cash on hand at closing is expected to exceed aggregate of the Reserve Payment Amount and the Wind-Down Amount. 32. The Monitor estimates the value of the purchase price to be approximately $1.39 billion. https://cfcanada.fticonsulting.com/Lightstream/docs/Third%20Report%20of%20the%20Monitor.pdf

[oilman53]

Not enough money to pay the unsecured debt holders and definitely not anything for the shareholders..Some of you guys are dreamers!

[reefsandals4eva]

you're an idiot. You don't own any shares you're just a shill. stop commenting.

[BluSky23]

All I asked is if anyone had comment or understanding why the motion papers state that support agreement is still active? And makes specific reference that Oppression did not have material impact. No where in documents can I find that Apollo et AL have 100% of new company. Can anyone intelligent comment. Oilman can fu$k off.

[reefsandals4eva]

I hope you didn't think my last comment was directed at you. I think the last poster was right, In my opinion, the shareholders are out of the new agreement, however, I think the shareholders own lightstream outright and they will have to convert their debt into our equity, hence the debt for equity. I really think we should just wait for them to announce the details. I have a feeling none of

[BluSky23]

You are good reefs. I think it is clear that Apollo is the chosen buyer from the CCAA process, they bought the debt for the minimum bid which is no unsecured payment, and since no equity there is no payment as such to shareholders. What is unclear is why unsecured would not take the previous deal as they would have known they couldn't get payment through CCAA. These are no dummies. So the

[reefsandals4eva]

No equity?? The market value is not the market capital. The market value is not the actual value. The entire company (hypothetically if your order could actually be filled , but it can't) could be bought for about 3000 dollars on the OTC. This is the risk of being a public company. That is the entire company! That is what everyone is bidding on. The winning bid was around 1.3 billion

[BluSky23]

On the books there is no shareholder equity as the net worth is less than debt. Now this is largely due to huge write downs due to oil price, lack of investment, Wells slowing down, etc...today with an added $20 to oil price, the company needed to do a write up, which in Q1, along with $400 million investment, producing wells, a $60 barrel and a stimulated US....there would be $600 million equity

[oilman53]

Actually I think you are wrong.  The current CEO and executive team is to remain in place and continue drawing outrageous paychecks.

[darkstream]

for about $100 you can get a stock certificate suitable for framing or cut up and use as toilet paper

[reefsandals4eva]

One last thing before I go, Read NI 62-103 , Employees can't own anything if they knew about the acquisition 60 days prior to the offer. That's insider trading.