Tuscany International Drilling Inc T.TID

Restructuring?

[ruben12345]

Could anyone please tell me what i should make of the news that Tuscany has hired an outside consultant as chief restructuring officer to reassess strategic alternatives...?
This also to satisfy an amendment to its senior secured credit facility with credit suisse.
Multiple ways to read this.. judging by the SP one could get suspicious... any thoughts?

[gilllis]

my interpretation is that this is the last effort before a bankruptcy. If it works, the company will avoid going bankrupt and the stock may recover over time. In not, then we all loose what we have left in this company.

[RHertig]

How do you figure that? If there was a complete liquidation at just 70% of current auction prices for drilling equipment there would still be a distribution to common stock holders well in excess of the current stock price. Walter is juggling to do this in the least dilutive or selling of equipment way.  Investors’ fears of losing all give us a chance to buy good assets at 1/9th their value

[Fullblast]

You're right RHertig. That's why I'm buying, my remaining order went through this morning. I bought 95K shares at 0.08 since yesterday. Average price down to 0.11 from 0.17.

[ruben12345]

Doesnt smell right.. but guess you guys are in too deep to think differently

[Fullblast]

Ruben,  we don't "smell". We read numbers,listen to what management says and look at drilling markets.

[WhattodoWhattodo]

Fully agree with you Gilllis, next stop for TID could be Bankrupt Station. Still time to get out and save at little money for Christmas presents. Good luck everyone !

[Goldtequila]

Just sold my remaining at .08, seeing the insider sell is enough for me to give up.  I should have done more DD.  I am a Sheeple on this one, and will take my licks and move on.  Hopefully this turns around for all the SH and makes a huge profit for you guys. GL 

[doggonemad]

Really funny.  An insider sold 98k shares for something like 8k.  Probably Walter's secretary.  She got the shares for free as part of the stock option plan.  This scares you.  Maybe you should not be trading.