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Post by fastcarkid on Mar 3, 2015 6:29:26 GMT -7
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Post by subartle on Mar 3, 2015 6:39:43 GMT -7
I bet existing stockholders get zip.
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Post by gonfish on Mar 3, 2015 6:40:20 GMT -7
Would anyone care to speculate on what this means for the stock holders.
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Post by treefarmer on Mar 3, 2015 6:50:05 GMT -7
Let us hope the buyer is a public company with shares and cash. Godspeed to those who have way more exposure on this than I do, I truly feel in my heart for you.
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Post by fastcarkid on Mar 3, 2015 7:09:47 GMT -7
Would anyone care to speculate on what this means for the stock holders. I sent an email to investors@gasfrac.com in accordance with for stockholder info at bottom of this announcement, I asked what can the shareholderers/stockholders expect to receive after the completion of the sale? We will see if they even respond. Requests for shareholder information should be directed to: GASFRAC Energy Services Inc. 403-817 2739 investors@gasfrac.com |
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Post by gonfish on Mar 3, 2015 7:16:02 GMT -7
Thanks Fastcar, let us know if you hear from them.
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Post by snortdd on Mar 3, 2015 7:34:03 GMT -7
Would anyone care to speculate on what this means for the stock holders. " The board of directors is of the view that this Sale Transaction represents the best outcome for GASFRAC given current circumstances."
This is the least-good outcome. (Sale of assets and IP)
No mention of us shareholders, unfortunately.
I would feel a lot better if it the statement read, ",best outcome for GASFRAC and investors given current circumstances.".
I think we are ROADKILL- sorry to say- but there's no certainty until the deal is approved and announced.
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Post by moneytrader on Mar 3, 2015 7:55:22 GMT -7
What price did Julien Balkany buy in at?
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Post by fora182 on Mar 3, 2015 8:07:54 GMT -7
I think he was in at around $1.86 level
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Post by viprgtsr on Mar 3, 2015 8:16:31 GMT -7
Please understand that this is very simple mathematics. Just because the company is liquidating assets does not mean that you will loose everything. This is completely dependent upon the value of the assets. Balkany bought into this company because the assets were horribly under valued by the market (arbitrage opportunity), so I have faith in what he is doing.
In a nutshell, debt holders get paid first. What is left over gets split by the equity holders. Also understand that Balkany is the largest equity holder. He will made decisions in our best interests. Trust me.
That said, ( [TOTAL SALE PRICE] - [TOTAL DEBT] ) / 65,000,000[Shares] = rough estimate of the value of your shares.
ALSO, you must consider that they seemed to have got compensation for the value of the IP. I do not think there was a value assigned to this in the assets, previoulsy. Was there? If not, then there is potential that a few extra $$ came in. There were a hand full of patents existing.
I bet eCORPstim was involved in the bidding process. I doubt Calfrac was interested in bidding, because of their recent pay cuts (unless these pay cuts were only at the management level).
Another thought: The impairment of the assets that occured at the end of a few years were based on the potential realized value that GASFRAC can get from the assets. I think this is an important point, because if another company can buy this equipment, and immediately start using all of the equipment, then they can realize a lot more value that Gasfrac could have. Thus, there is more value there than what all of these finance bros are suggesting.
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Post by thin on Mar 3, 2015 8:18:47 GMT -7
I say they go no more than 75 mill shareholders are toast |
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Post by moneytrader on Mar 3, 2015 8:25:04 GMT -7
I assume Balkany brought ordinary shares just like the rest of us.. therefore he gets paid out per share just as we do and in the same pecking order. Got to believe he is gonna do his utmost to try and orchestrate a deal to at least get his money back. But its entirely possible that he got this one really wrong and he ends up taking bath along with the rest of us.
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Post by fastcarkid on Mar 3, 2015 8:51:50 GMT -7
I assume Balkany brought ordinary shares just like the rest of us.. therefore he gets paid out per share just as we do and in the same pecking order. Got to believe he is gonna do his utmost to try and orchestrate a deal to at least get his money back. But its entirely possible that he got this one really wrong and he ends up taking bath along with the rest of us. Balkany has an investment $6,240,646 or $1.84 a share average data.cnbc.com/quotes/GFS-CA/tab/8Remember, the Debetures are in line prior to stockholders that is $40+ mil We won't have any idea of where we stand until Ernst & Young etc. announce the amount of the sale. The date for closing is on or before Apr. 3rd 2015 Keep your eyes on E&Y report page documentcentre.eycan.com/Pages/Main.aspx?SID=326 |
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Post by moneytrader on Mar 3, 2015 8:59:26 GMT -7
But does Balkany own 'Ordinary Shares'? Or does he own preference shares or debentures instead? If the majority of what he owns is anything other than ordinary shares then his interests are not the same as ours.. he is at far more of an advantage than we are. This question is key.
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Post by fastcarkid on Mar 3, 2015 9:00:06 GMT -7
But does Balkany own 'Ordinary Shares'? Or does he own preference shares or debentures instead? If the majority of what he owns is anything other than ordinary shares then his interests are not the same as ours.. he is at far more of an advantage than we are. This question is key. All common shares!!! |
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