Yes I keep on yapping, but there are enough readers of my posts to make me wonder also. If I'm overposting(because I'm bored for the most part) then by the same token, others are over-reading. I can't predict the future. I can talk about the past, but the past can't be changed, just learned from.
So what about the past. About the debt, $6,562,000 are from secured creditors and $2.272,000 are non-secured for a total of $8.8 million. But they say there are $11.3 million of liabilities. One of these is Futura Rewards Member liability. I don't know if this is a true liability 100%, if members do not redeem their points. (About $1 million left)
If $300,000 will be giuven now by certain individuals to help the company through the CCAA process and are in effect secured creditors who want 100% of their money back, could imply that the company can pay back about $6.8 million (6.562,000+300,000) with certainty.
Some of the secured creditors:
Belweather $874,000, Don Ross and David Beutel $615,000, Don Ross $750,000, Venturelink $2,015,000 and Victoria Ross $1,004,000.
Insider/close associates. Something can be worked out with them. Debt for shares,even a portion thereof. Gut feel, although no proof, this is the way it's going. meaning one options is that the company will continue in one form or another.
David Beutel is the key person here. He can make it happen for close down everything. He got the money to come forth in the first place from various creditors including himself, so he has the most influence under CCAA.
So now it's down to examining all the bids and arriving at a value and what to do next. The loyalty reseller business is tough despite claims of good potential. Do they wish to revisit that again, I doubt it. This is as far as I will take it.
It's tough to interpret even the simple things and that's what I have trying to do in the past month. For example the 3,100,000 sell order at 1 cent was withdrawn yesterday. Can interpret it as positive or negative. The guys is bored or thinks shareholders will get nothing, so why bother selling.On the posiitve interpretation, there's a chance for shareholders to gain more than1 cent, so withdraw the sell order.