Tuscany International Drilling Inc T.TID

I rolled the dice

[ninetiesgolfer]

Well, I wonder if I'll see any of my $10,000 investment again? I feel for those who are heavily invested.

[sailpgd]

Everyone needs to stop panicking. You all are acting like grown children. Debt and assets combined are a total of $500 million. We do not know the exact ratio yet. Bankruptcy could be a good thing for us. It just depends on what the creditors decide. I will admit that $35 million seems like a high number considering the cash TID was supposed to have received over the last month. Keep in mind, that

[khaledb]

We have to admit that we lost everything .... They will continue to borrow till the debt exceed assets. All what i hope now is that they decide to go straight to a liquidation and find buyer for the whole company ..this is the only possibility to get something in reasonable time.

[pennywyse2]

The fact that the lenders will make a DIP facility of $35mm available indicates that they believe there is some surplus of value in the company over and above the pre filing debt level. Hopefully the DIP facility will only be drawn down as required and I believe we can rely on the CRO to be prudent. Remember, when you file for Chapter 11, suppliers get real nervous about getting paid and given

[khaledb]

Please sailpgd.....  I don ' t agree ... if it was the case why Bruce sold all his shares in december he could wait till liquidation  .. It's good to be optimistic ...but ..better to be realistic