Post by
stphouse on Dec 18, 2014 10:44am
STP debt
it owes over 600 million. 1 billion in assets. this company was losing money in operations even when oil was $100 /barrell and was pay 6-10% interest on the bonds.. credit rating is CCCC and if STP wants any new loans now it's 15% interest. and nobody will lend. share dilution or total wipeout of current shareholders and shares issued to debentures holders. this company is better of just selling off assets or shut down operations. it's losing 50 million/year in cash just paying the interest. it can just shut off operations. layoff workers an sell the and return the money to creditors and maybe throw a bone to shareholders ith 5% share dilution mostly like current shareholders get nothing. or the min. bid is .005 at TSX
Comment by
wdr2 on Dec 18, 2014 2:27pm
And the so called management who are probably sending out their resume's as we speak to go destroy another company.What a farce the Canadian stock market is and the people who run these companies.Never seen such short sighted idiots.And they make the big bucks.Gotta wonder if there is an alterior motive to these bankruptces and if they are planned way out ahead of time. wdr2