Church & Crawford Inc (CCWF)

[horst]

Was down to the wire there - seems OTC Markets may have a little grace period... Glad to see the merger is a done deal, and that they filed the disclosures. Great valuation of the assets. However, this is concerning: looks like CCWF now has $57M in convertible debt (compared to zero debt when it was a shell). That's a lot of debt, and that valuation of the oil assets, if accurate, would probably take many years to realize. Unknown yet what the terms are of the convertible note are (conversion rate, interest rate), but certainly it's a big windfall for the seller of those assets to CCWF.