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

August 11th BOD Meeting...

[Kherson]

Keep in mind that the BOD will need to pin the merger fiasco on someone other than themselves for their brain dead excessive Long Term Incentive Compensation to the management team. Come Friday morning I am expecting at least one soul gone from the team!
Right now, Canexus is in survival mode as those financial covenants kick in at the end of this quarter. They have no choice but to sell N. Van by the end of this month because no one will lend them anymore money.
 Also keep in mind that the BV will still be Zero.
Superior must be smiling at the demise of Canexus as they will soon be seeking CCAA protection.
Kherson

[Kherson]

I wonder how those extended financial agreements are coming along. Getting close to the end of the month and no news. Maybe the Canexus Pump Gang could shed some light on how the process is unfolding? Kherson Kherson

[leo101]

kherson, if it doesn't seek ccaa protection at the end of the month will you give up predicting bankruptcy?

[Kherson]

I still believe that Canexus will be seeking CCAA . Exactly when has been harder to predict than I initially figured because the company's quarterly financials are unaudited. Yes, I believe that Canexus is suffering a bad case of creative accounting! If no new financial deal is hammered out by this Wesnesday, then Canexus will have no choice but to seek CCAA protection in September. Laugh

[mattmckensze]

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[Kherson]

I must have hit a nerve with the Canexus paid pumper... Too funny... So do tell us clown, now that you got the word from Canexus, that they aren't going bankrupt, just how does Canexus plan on paying back all that money they now owe? Since they had a profit of only $40,000 last quarter, and third quarter is already below guidance, how will they survive? Sell N. Vancouver or issue more

[mattmckensze]

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[Kherson]

Matt, you have proven yet again that you are a Canexus paid poster. The real question is how will Canexus pay back the loan due in May. Kherson

[MrMckensie]

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[1parellel]

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[Kherson]

The nice thing about the "New Deal" is that since the clowns on the BOD running this fiasco jacked up the number of those PSU's and RSU's last spring to the management team, which actually resulted in the demise of the Superior merger, the overall "change of control payment" for Doug Wonnacott has gone from $2.084 million to $3.252 million, an increase of also 65%! Keep

[MrKosloseky]

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