CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

Cash Operating profit for six months was $57 million

[phoenix_trader]

This comes from P. 2 of the MD&A and excludes discontinued operations i.e. NATO. Distributable earnings includes discontinued operations. NATO is gone and with it the losses of NATO. The chemical operations will generate the cash to pay off the banks in 3-4 years. Vote NO!

[1condor]

Phoenix..If there is a vote NO on this team up I will short this stock to zero. Because that is where it will head.

[phoenix_trader]

Your post 10 days ago says it all. Vote No and wait for the next much higher bid................."Kherson..I am not a long time CUS holder. I am a short term trader and in just to make 10 to 15 percent and then I will be gone. However, Superior got a real good deal here and even someone like yourself can surely see that? I would not be surprised if someone else comes in and takes a shot at

[Kherson]

Phoenix, I don't disagree with you. The problem that I see now after much consideration is that the management team at Canexus simply can not manage the company and the BOD has been totally useless in representing the shareholders. At this point, if I was a shareholder in either company I would sell and move on as there is simply too much manipulation going on behind the scenes with both

[Roxy27]

phoenix_trader, now you are just talking rubbish. They have debt of 5.3x EBITDA and you are representing debt will be paid of in 3-4 years from excess cashflow. Silly, silly, misleading comments. 

[phoenix_trader]

Roxy bud, the debt that counts is the bank debt of $360 million, that's what needs to be paid off in 3-4 years. The rest is conv. unsecured bonds, they can be restructured, paid off after the banks or given the cash flow they may convert.

[phoenix_trader]

Roxy bud, so you now agree the COP was $57 million for six months, right, pretty close to $10 million a month, right and with minimal capex it can be used to pay off debt, right, the bank debt, right. No worrries about taxes I think CUS has enough back year losses to shelter all the cash pouring in, right............Vote No!

[rustyblades]

Agree with you that the NO vote is the correct vote. Q3 will probably have everything including the kitchen sink in it to make CUS's position appear as dire as possible.  Hope people don't get taken in. Q4 will be the first quarter to show the true state of affairs.