Post by
Polebrook on Jan 04, 2016 11:32pm
What next?
Trooper, I read the document you posted from the Deloitte website that listed the creditors. If you add up the creditors related to 3DGo like Neulion, Deluxe, Disney, Paramount, Giant Screen etc. it comes to around $660K (about half the outstanding amount). In the short term I'm sure these creditors will be happy with 60-70 cents on the dollar as opposed to 0 as something is better than nothing in these circumstances. As you pointed out, it means the patent deal may be worth around $1.25m. The question is what happens then with 3DGo and I think the future is bleak if the patents net $1.25m. In reality, the recent financials show it makes huge losses vis a vis the cost of acquiring the content vs. the revenue coming from LG and Samsung 3D TV owners. The NOI has burned some key partners like Disney, Paramount, Neulion and Deluxe and they may be 'once bitten twice shy' when it comes to continuing to do business with 3DGo. If the patent sale generates enough to pay the administrators and relieve the creditors as proposed, then the company has no working capital. Having failed to manage Sensio to any level of financial success, it seems unlikely that the public markets would back the remaining business (which has no patents of any value as they've been sold to WiLan and only two employees) as has been acknowledged in the NOI which notes the lack of success getting Caisse to continue to back the business last year. So my best guess would be a liquidation of assets and a wind up with a delisting based on the current facts.
Comment by
hedge8 on Jan 05, 2016 6:28pm
The patent sale will likely get more than $1.25 million. How much more is anyone's guess, but routhier would not put up $100,00 of his own money if he wasn't sure there would be money left over to run the business and/or money left to payout out shareholders otherwise.
Comment by
MAZZMEX on Jan 06, 2016 10:01am
Well someone just scooped up 1million shares at .015.. Look like some still believe.. I was hoping to get my order filled at .01...Mazz..
Comment by
MAZZMEX on Jan 06, 2016 10:13am
Looks like National Bank scooped most of those shares.. Nice to see some buying by someone close to head office!.. Mazz..