Westport Fuel Systems Inc (WPRT)

[Jack_Bolander]

NOT SO FUNNY FROM YAHOO FINANCE:
"One month ago I posted what I thought might be the worst case scenario for WPRT shareholders:
This would be the worst case scenario for WPRT IMO.
That DEMERS and Co fails to execute ...AGAIN.
That FSYS walks and doesn't have to pay the $5.5 million break-up fee due to some technicality.
Cartesian walks because the merger doesn't happen
WPRT is left at the altar with no $$$$
How long do we think WPRT will last if there is NO DEAL?

But after a month, I have thought of an even worse case scenario for WPRT and maybe even FSYS shareholders:

Deal or NO DEAL Rodney Nunn takes over running WPRT and blames everything bad on Demers and the “past administration” (justified).
Cartesian takes over when the company goes into receivership ("The company is in worse shape the we thought."), and as they are debtor in possession, and they get WPRT or the Newco for $71 million in as little as 6 months.
Existing shareholders will get NOTHING, because Cartesian is not a shareholder, so our interests are not aligned."

THIS IS WHY IT IS CALLED TOXIC FINANCING...IT CAN KILL YOU.