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Post by moneytrader on Mar 3, 2015 9:05:08 GMT -7
Thanks fastcarkid. That gives me some small comfort at least.
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Post by fastcarkid on Mar 3, 2015 9:11:35 GMT -7
Thanks fastcarkid. That gives me some small comfort at least. To be able to force the changes already made and being made he needed a minimum ownership of 5% of outstanding common shares He owns 5.4% See data.cnbc.com/quotes/GFS-CA/tab/8
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Post by moneytrader on Mar 3, 2015 9:25:15 GMT -7
I am also wondering whether the recent collapse in oil prices and now falling gas prices have significantly affected the value of oil & gas equipment (not just Gasfrac but in general across the board). Therefore putting aside for one moment whatever figure is stated for the value of their equipment in their last set of financials.. in the real world today (i.e. if you had to sell your equipment at this moment in time) has the value of Gasfrac's equipment been significantly devalued of late?
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Post by treefarmer on Mar 3, 2015 10:18:57 GMT -7
Hot damn, I will take $1.84, lol
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Post by gonfish on Mar 3, 2015 10:57:02 GMT -7
Hey treefarmer I will sell you my shares for $1.83. LOL
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Post by bruiser572000 on Mar 3, 2015 13:25:32 GMT -7
I wonder why their is no mention of tax loss carry forward. Buying assets would not include that. It would have to be a stock purchase or stock swap, which would benefit stockholders as well including Julian Balkany. This is significant as I believe it is $250,000,000. Could be worth another .50 share
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Post by thin on Mar 3, 2015 15:16:28 GMT -7
$250 mill you have lost your mind There is 85 to 90 million ahead of the shareholders and this company did not fetch even 100 million It is a write off
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Post by viprgtsr on Mar 3, 2015 16:14:15 GMT -7
I wonder why their is no mention of tax loss carry forward. Buying assets would not include that. It would have to be a stock purchase or stock swap, which would benefit stockholders as well including Julian Balkany. This is significant as I believe it is $250,000,000. Could be worth another .50 share Thin, BRUISER is correct. This tax carry forward is worth something, but if assets are sold (and not the company), then I don't think you can realize this. You cannot purchase a company for tax carry forward, but you should be able to recognize it. That is real money, and $250M is a real number. Asset value + IP Value + Tax Carry Forward = ? $100M for assets 5M for IP (this is a guess) $250*.35 = $87.5M (is it 35% in canada?) ( ( $100M + $5M + $87.5M ) - $80M [Debt] ) / $65M[shares] = $1.73[share] These are all guesses of coures. Not sure if you can take advantage of this tax carry forward. It seems stupid to NOT do so, but just not sure if it is allowed.
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Post by glasairx on Mar 3, 2015 21:22:25 GMT -7
so who is making the purchase?
i sold mine just before the halt, but am waiting to re purchase/
so my question is, who made the purchase?
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Post by glasairx on Mar 3, 2015 21:23:35 GMT -7
also most shareholder will not get anything
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Post by dipstick on Mar 4, 2015 7:50:18 GMT -7
I do not have any knowledge/experience in corporate finance, but just a comment: there are about 65 million outstanding common shares. At $0.01/share, the cost of outstanding shares will be $650,000. That seems like a small amount in the overall picture. Accordingly, the new owners can assign $0.01 price per share to existing share holders and provide them an opportunity in the on-going company operations. Seems, this approach will be better than declaring null and void. Can the Queens Bench/courts/Monitor have wiggle room here? Apologize if I am talking non-sense. Just wondering if there is anybody looking after common share holder interests.
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Post by thin on Mar 4, 2015 8:16:54 GMT -7
Bruiser is wrong---This company is dead for shareholders I was hoping for 30 cents andwe wont get that
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Post by moneytrader on Mar 4, 2015 8:45:36 GMT -7
So its dead for Julian Balkany then is it?.. who is a common shareholder just like us. Are you telling me that he has orchestrated a deal that has wiped out his entire $6 million+ investment in common shares? Get real thin.
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Post by thin on Mar 4, 2015 9:16:51 GMT -7
He did not orchestrate anything. CIBC, Leigh and the monitor did all the work and they are getting the best deal possible. Balkany was probably not part of any of this
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Post by moneytrader on Mar 4, 2015 10:35:55 GMT -7
Quote.. "Leigh Cassidy, Chairman stated that, “GASFRAC, with the assistance of its employees and professional advisors and under the supervision of the Special Committee and the Monitor, believes it has conducted an effective and transparent competitive sales process."
'assistance of its employees' - but Balkany kept out of it with $6 million on the line. I don't think so. He had a say.
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