Lightstream Resources Ltd. LSTMF

Word from LTS IR

[NeewNeew]

LTS IR Reply to this question:
Did the sale deal completely extinguished shareholders rights?

"The Court granted an approval and vesting order for the purchase and sale of essentially all of the assets and business of Lightstream to Ridgeback Resources, a new private company. Upon conclusion of the Sale Transaction, anticipated to be December 29, 2016, it is our view that common shares will not hold any value."

Here we have it.

[BluSky23]

Those of us that have worked closely with IR know that they have scripted statements carefully chosen that can only repeat public information. I am still interested why there would be 'strictly confidential' information in the last monitors report.

[NeewNeew]

Skimmed through the document on: https://cfcanada.fticonsulting.com/Lightstream/. No mention of shareholders. Case law: In application of these provisions, courts have vehemently allowed the elimination of shareholders’ rights by applying the CCAA in conjunction with Canada’s corporate statutes as per Canadian Airlines Corporation. This is sad.(https://www

[reefsandals4eva]

This is excellent information I 100 percent agree with you. Most companies can squeeze shareholders out just by being a majority in a reorganization. I must point to this simple fact. Most companies see the benefit of not treating their shareholders like garbage. Money doesn't follow companies that don't take care of their common shareholders. So enjoy running companies with a 10 cent

[Oldfart74]

Why is It that equity shareholders in a failed company feel that the buyer owes them anything?  The secured note holders are converting their notes to equity, the unsecured creditors get nothing and you feel that you as a shareholder should receive a handout.  You invested (or shall I suggest speculated) in buying stock in a company that was unable to repays its debts.  The basic

[reefsandals4eva]

There's a simple answer to that, I like your question. The money they borrow belongs to people through various funds, unless it's private equity. it's the common persons money. It doesn't belong to the bank, it belongs to people. It's the banks standing up for their shareholders and Me as a shareholder standing up for myself.

[Oldfart74]

You obviously don't understand the LTS situation.  The buyer is the secured note holders (private equity) who have converted their notes into equity.  The banks have nothing to do with the conversion - they've been paid.  As a shareholder you can stand up and cry all you want.  It makes no difference - you get zip.

[reefsandals4eva]

Yes! The buyer is private equity.  That's the whole point.  What were they buying? And who really paid for it? They're putting skeletons in their own closet. Enjoy!

[reefsandals4eva]

Maybe instead of thinking about who you screwed, you should be more concerned who your shareholders are now. Karma is a beautiful thing.

[Oldfart74]

Pal, if your post is directed to me, I have no position with any company.  I've been happily retired for a number of years and now spend the winters in the southern US.  Life is good.

[reefsandals4eva]

It wasn't directed at you, The idea that this stock could be the loser kind of gets under my skin but realistically why wouldn't it be. Even Enron knew they had to take care of the shareholders. If a company has no assets and no real income and doesn't even value the shareholders or their plan for a future , what's left? Look how big a company like Enron got from having people to