Lanesborough Real Estate Investment Trust V.LRT.UN

Who were the braniacs?

[riverrrow]

Over 2.5 million common shares traded this morning at one half a cent.  Am I really expected to believe the majority of debenture holders gave up their secure debentures for this?

[Sleddawg63]

The 9:30 transaction was a massive dump by a Scotia client.  Just one trade.  It is the last day of the month with a struggling equity and a mainstream broker. I am wondering if this was a margin call that has made others panic.  

[alkhor]

I'm one of those brainiacs. I bought $100,000 worth in a registered account for$1000 and just sold at half a cent for$12,500. Not bad for 2 months.

[BobTheKnob2]

And now, as I anticipated when the deal was done, because the management did not plan for this, and did not retain the services of a market maker. . . we have no bid on the units and an ask of 1.05MM at a penny.  Yet more brainiacs steering the good ship Lanesborough.

[Sleddawg63]

Millions of shares at .05 at BID flooding in.  Not dead yet.

[riverrrow]

Congratulations alkhor.  TD will take forever to show the common shares.  GLTA.

[quicksilver545]

Compared to where debentures have been trading at the past few years, these trading prices actually represent a huge gain. I'm a bit impressed with the bid support and lack of dumping so far. Even with 6.5 million traded, we are not even at 1% traded of new float. I have a huge amount of units now, but won't flood the market. Considering holding so that my votes will count and we can vote

[quicksilver545]

Hopefully we can get some 1 cent trades to post, and possibly get back towards 2 cents by the end of day.

[quicksilver545]

Never mind... someone just flooded the bid..

[Cbcdistressed]

I guess this is it. No change of price until they show us the new balance sheet with positive fair value adjustment 

[Isyckle]

Yep, and @ Alkhor will wish he hadn't dumped everything for a 1/20th of it's value

[quicksilver545]

Well, right now we sit on a 20 million share ask at minimum ask of .005, with absolutely no bids. What is going to drive this 20x higher? You think this is worth 68M market cap?

[Isyckle]

Right now nothing, except my total hope and trust in the management self interest.

[Cbcdistressed]

If the management team or shelter has any interest in this company they would have bought those shares. I expect a second round of debt to unit conversion coming, this time is for shelter's 100 million debt and this will give back the control to the parent company and this is what they want.

[Cbcdistressed]

100 million from shelter is repay on demand and the reit doesn't have the money to repay them. I expect they will use this 100 million to take back the control. Whoever think they can vote out the current management team and the board are way too naive. the only hope is the fair value adjustment which might increase the bank's appetite for lending more to the reit and eventually replace

[Isyckle]

If this was a real debt, it should have been used to pay back the mortgage, to compensate for the fair value adjustments, which it wasnt used. So this debt is not a material change, pretty sure the money never even left Shelter/Manitoba accounts in the first place.  So the assets diminished, trust deficit grew, and thats about it. if that is in fact the play they are going for, a

[Cbcdistressed]

I guess you don't really know what you are talk about, if all assets are real and debt are fake what do you think audit is for?  what a joke