Lightstream Resources Ltd. LSTMF

Recapitalization question for Pancho2

[PROtrading]

I picked up some of these "mortally wounded" shares when they were in the pennies.  Sometimes I get lucky with flaming dumpsters (if I wear silicon gloves).  The odds are against you with all these market guys feeding off "the average joes".   I try not to be one of them!  LOL

So the poor guys who paid good money for their shares will never see anything (or much) but I'm wondering what someone who tossed in $1000 at 10 cents (10K shares) would end up with? ;-) 

"Ridgeback" huh?   Kinda surprised they didn't call the new company "Brokeback"!  That would be more appropriate in the situation!  LMAO!!!!

For anyone holding this stuff, don't hand over the "worthless shares" to your brokers, they are waiting for them!  LOL  Yeah, they are probably worthless as a small pile but combine a bunch of small piles and you have a big "pile".  A big "winnie"!!!  LOL

Pancho2 wrote:  The Recapitalization will result in the current holders of Common Shares holding approximately 2.25% of the estimated 100,000,000 New Common Shares of the Company anticipated to be outstanding after giving effect to the Recapitalization, plus approximately 7,750,000 Series 2 Warrants. Additionally, as a result of the approximately 88.29:1 (approximately 92:1 on a fully-diluted basis) Common Share Consolidation forming part of the Arrangement and the rounding down of fractional Common Shares and New Common Shares pursuant to the Arrangement, an existing holder of 89 (92 on a fully-diluted basis) or fewer Common Shares will no longer hold Common Shares, or any New Common Shares or New Series 2 Warrants, following completion of the Recapitalization and will not receive any consideration therefor.

[Pancho2]

  I was stating what the old Shareholders would be getting    in this new recapped Company, Ridgeback Resources.  I agreed they are taking their own sweet time in this restructuring while  the Brokers are gulping up the shares.  I think though, Ridgeback  should be called Richback Resources instead of  Brokeback Resources , because they got the Company for

[Oldfart74]

Nothing like relying on a press release that’s well over a year old which is supersed by events that culminated a year ago.  Nothing for the shareholders as the entire company was acquired by the secured noteholders in exchange for their notes.  

[PROtrading]

Humm... For some reason, something stinks here... https://cfcanada.fticonsulting.com/Lightstream/courtOrders.htm https://cfcanada.fticonsulting.com/Lightstream/updates.htm One would think FTI would provide more updates... Had anyone contacted FTI or Ridgeback?   I see a LOT of avenues for abuse here... Interesting things here... https://www.ridgeback.com/about/management.cfm

[afficheholderon]

  it has become quiet here...

[afficheholderon]

Pancho2,reefsandals4va... PROTrading... Where are you all???

[EquityHawk]

Im still here and still got my shares. I've been told by a few money managers to never sign these over to your broker in order to report the loss. They lick their chops at stuff like this and the potential pay off is worth more than the deduction.

[Pancho2]

I too, am still here and still got my shares. Nothing changed and nice to see you guys still hanging in there. To recap. Excerpts On July 12, 2016 LTS entered into a restructuring support agreement (the "Support Agreement") with members of the Ad Hoc Committee. Existing Shareholders will hold a total of 2.25% of the then-outstanding Common Shares and existing Shareholders will also

[oilman53]

Ah ah!  the few delusionals are still here!!!!   They still think their worthless shares are worth money