AI
Friday, November 15, 2019 5:40:03 PM
Here's an excerpt from the 10th monitor's report, which was a special report prepared when the monitor became irritated at the many questions shareholders were asking and the many fairy tales they'd seen on the interwebs. Read it all to the end, the monitor's message is very clear:
The company did not sell. Nobody wanted it. The shares have not been purchased by anyone.
The assets were sold for $4.34M US to the JV between Visolis and LCY in the liquidation, aka - the Visolis transaction
Those proceeds, along with the collection of all other proceeds minus paying the bills, barely touches what this company owed.
Shareholders get zip.
(cue the "in CCAA" disclaimer crowd) - the CCAA process is all there is. The assets were all sold, the accounts receivables collected, the bills paid, and later the remaining cash was distributed. There's absolutely nothing left of value in this company.
The company did not sell. Nobody wanted it. The shares have not been purchased by anyone.
The assets were sold for $4.34M US to the JV between Visolis and LCY in the liquidation, aka - the Visolis transaction
Those proceeds, along with the collection of all other proceeds minus paying the bills, barely touches what this company owed.
Shareholders get zip.
(cue the "in CCAA" disclaimer crowd) - the CCAA process is all there is. The assets were all sold, the accounts receivables collected, the bills paid, and later the remaining cash was distributed. There's absolutely nothing left of value in this company.
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