Wednesday, May 17, 2017 4:35:07 PM
Framepool filed for insolvency. This merely means they are letting their creditors know they are incapable of meeting their debt obligations. This is not a bankruptcy filing. If the company DOES file for bankruptcy protection, then they will go through the bankruptcy process and all debts will be discharged. This process typically takes, on average of 1 year to complete, during which time the millions of dollars in revenues generated , go towards business operations versus the servicing of debts. Framepool then emerges BK with a clean balance sheet.BRSE owns 86.6% of Framepool so naturally BRSE shareholders benefit as Framepool's revenues are accretive to BRSE's earnings. There is a reason why Christopher negotiated to NOT make ANY payments towards the Framepool acquisition in fiscal 2017. It is because he knew that the company was going to file for insolvency and bankruptcy protection during this timeframe.
So there is your answer.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM