Yeah, conspiracy theory is usually in movies only...
... So, it is tough to believe it may be going on right in front of us with this stock. Maybe it is, maybe it isn't. Computershare's silence is deafening. The lack of updates on E&Y is suspicious, and possibly disclosure is outright being withheld. I am fairly sure that the last court order was promptly posted on E&Y. I can understand that maybe Computershare motions may not want to be disclosed, but ... Why no court order posted about extending CCAA protections? Why are these insiders not disclosing this simple bit of information? Secrecy and lack of disclosure gets the rumor mill running. OTC/Pinks thrive on rumors.
Looks like you saw something in the filings/motions on E&Y that showed some date changes. Me too. The "Supplementary" motion shows the outside date has been moved to Apr 30 from the original Apr2. Likely, one of other things being changed/done not disclosed to commons. Probably the tip of the iceberg.
I have no insider buds that can clue me in. If I did, I would be a part of the DIP financing or the Private Placement instead of buying and selling stock. DD (reading a lot of boring crap) is my friend in trying to unravel these penny plays.
The last Q report signaled the recent management ride to riches that many are upset about. Standard procedure in OTC/Pinks. And, Fung's first affidavit signals the Private Placement being alive and well.
The DIP financing cannot be stopped by Computershare, but they can hold out on the Plan of Arrangement/Compromise (Plan). The primary reason for CCAA is to pay off all creditors. The Plan outlines the payoff procedure. CCAA is definitively not for the purpose of delaying payment to creditors for several years. My opinion is Computershare will only agree on a Plan that gives Noteholders a comparable deal to the PP, or be paid off promply. Either way, the PP returns as signaled by Fung first affidavit.
I think Fung and the Noteholders have a mutually beneficial need for each other. Noteholders have a reasonable arguement that they should get the same deal as the Private Placement, after all that benefit was thrown out there for others and they are providing more cash then Tenor, so fair is fair. If not, the Private Placement should easily go thorough since it is under a court process as outlined in Fung's first affitdavit, and Noteholders will happily exit, because they will at least get their money back (unlike some of us) and we will have "New Noteholders." All at shareholder expense.
The company will continue to survive on dilution and give-aways until the ICSID Award is collected. Board will be adjusted or the shell will be sold and wash-rinse-repeat cycle continues. This is the OTC/Pink way.