Closest Ticker Found to CRYFQ Situation was Nortel...
...and it is not really all that close. Just lots of Stays so they can sell off parts. I understand that CRYFQ's situation appears unique because of the potential award. Shareholders believe it because of the potential, but it is still just that, potential.
There are never guarantees in predicting the future of a potential award. Anything can happen. Each and every company situation is felt by shareholders to be unique, and it can be seen on each and every hub here, and hubs everywhere else - The feeling that, because we are shareholders of this company, our company's situation is more unique than everybody else's, is not all that unusual.
The court will likely take the, "unique potential," into consideration, but also will consider the reality that potential cannot be considered as being an absolute certain outcome. And, the CCAA guidance is clear that a Plan is the end game. No Plan, the company is scuttled, which is a reality and can very well happen - and is not all that unusual in CCAA.
Recent events appear to indicate the court has likely had enough of the stalling. Typically, and on average, a Plan is negotiated in less than a year. A year is now being approached. Now, the extensions are shorter and the recent order instructs to show up with a Plan, plus the monitor is going with a shorter recommendation of Stay extension than the company wants. These little things may be adding up.
Next after a Plan, and coming out from the protections of CCAA, the company must get up-to-date fins. There is absolutley no reason to withhold the fins at this time. Suspecting something not good for commons being held back, as yet unknown, is the reason. And, the Class B preferreds means B for Bondies. SEC is hammering companies that are behind on filings on a Daily Basis. CRYFQ going to the Greys would not be a good thing.
Stay Diversified.
GLTA
