Greenfirst Forest Products Inc T.GFP

Bankruptcy?

[Apaulson]

Are these guy filing for bankruptcy on Tuesday, after the long weekend?

Down 20% on high volume.  Somebody knows something....

[StockGuru454]

No, they are almost profitable and their assests alone are worth more than their entire market cap x2. So to say something like that is very unusual if you reviewed the balance sheet at all.

[Apaulson]

If you've been involved with or reviewed a lot of bankruptcy / ccaa / chapter 11 proceedings, you'd realize that book values don't mean shat.  For example, that OSB mill site in Wawa, Ontario that Louisiana Pacific recently bought out of CCAA was previously owned by a company who invested $220 million in to and it sold for $8million in a bankruptcy sale.  Book values don'

[StockGuru454]

Actually assests do matter when compared to debt. This company is no where near bankruptcy and in no way shape or form would the goverment even approve a bankruptcy even if it was ever filed. WITH 278 MIL in assests, paid down debt, and 18 mill away from turning a profit even with bottom lumber prices crashed through the floor that's pretty impressive. its Not IF... but WHEN lumber prices head