We would love to hear your thoughts about our site and services, please take our survey here.
Munniemoans ‘offsetting’ lol so what imaginary price did these SOPHs buy at…I am waiting? They would not be rich SOPH’s if they held onto their positions failing to sell when the price rose into 0.44’s on 1st discovey or indeed at any point much higher than this 12 month ATL. I am all ears Munnie so torx to me! IMHO DYOR
Crikey I missed this thanks Stas will take a look at the flyer. Also on 8/4 he said to a shareholder apparently 160 sent but affadavit says 137 - why? IMHO DYOR
From the email to a shareholder 8/4/2024
‘We have undertaken extensive reach out efforts including sending over 160 teasers to both strategic and financial potential buyers and the data set is robust for potential purchasers ‘
From the court docs submitted 18/4/2024
‘15. Promptly following the granting of the SISP Order, the Applicants reached out to 137 different parties to solicit interest in the SISP. When reaching out to such parties, the Applicants provided a teaser letter, a copy of the SISP Order and a form of NDA, along with a summary of the proceedings and link to the Monitor’s website. A copy of the teaser letter is attached as Exhibit “E” hereto. Potential bidders were identified by the Applicants and the Financial Advisor, in consultation with the Monitor, through: (a) (b) (c)
16. extensive research on industry participants, consisting of both financial and strategic parties; discussions with the Applicants’ management and board of directors (the “Board”); and inbound inquiries, both prior to and during these CCAA proceedings, received directly and through the Monitor. ‘
Skippy please come on have you not been around the block and see/know what is happening in front of your eyes? WHERE is the stock coming from to sell so many big trancges and so low just above the placing price if not from the actual placing stocks? Give your head a wobble as all you are doing is falling in line with the false narrative! IMHO DYOR
Lol Mike then THINK ABOUT IT - so these ii and sophisticated investors held large amounts of stock all the way through the share price over last 12 months reaching 55 and the lowest placing price last year was 0.23 so are you honestly believing thay they think ok (and this is not just one but many according to Old Duffer many to explain the huge trades) ok let’s spend more money at 0.16 and take a massive loss from the stock we currently hold in order to do so? Yeah right and they didnt think for one moment to sell any when they could’ve even a few weeks ago at 0.44! Wow I think both of you do not qualify as sophisticated investors then! If any ii did that they woud not last 5 seconds in the City! OldDuffer is an aid of the Oz naked shorting fund even he now with this theory actually underlines that if that were true that the sophisticated investors and ii think it will rise above 0.16! He has tied himself in knots and now stitching himself up lol. So where is all this stock coming the large trades sells from if it’s not the 0.16 current placing shares being forward sold! I rest my case! IMHO DYOR
To be fair the lawyer is hardly going to get confused he’s a top lawyer! Also time is of the essence so there’s no harm in getting in contact to get the ball rolling and so hitting the ground running surely? Perhaps CAG or MC can follow up and make contact today then. IMHO
Oldduffer explain when they would’ve acquired them? When?At what price? You are talking absolute bull! We genuine shareholders will not be helping out your Oz naked shorting activities! Nobody in their right minds would think now is the right time to sell! You Sir are telling porkies and you cannot support or substantiate your assertions because its b*llocks! IMHO DYOR
Now cannot buy a bean NT on buy side for all amounts! I can still sell all my large holdings how curious! Looks like the demand for stock is growing and growing! MM playing their games to actually collect and no bites! Obviously! IMHO DYOR
OldDuffer then your analysis means you have marked them out as complete idiots not sophisticated investors ah they’re selling what exactly large amounts of shares they held now but when the price reached 44 few weeks ago they didn’t sell, and continued still to pass up weeks of opportunity to more than double their profits in 30’s eg 100k extra on that 89k sell today but choose to make a few pennies worth from their existing holdings now at 12 month ATLs? Thing is that’s not even true is it they would be making a huge loss! As when do you assert then did they buy these large tranches of cheap stock? At what price do you mean exactly as the 0.16 is far below last raise at 0.23 and SP is only now at this level currently an ATL over past 12 months so they couldn’t have bought them all in these vast amounts on the open market so where did they come from -utter rubbish listen to yourself. You’re in knots now. They knew weeks ago. Sold and gone. Keep piping your fake narrative and spending all your time on here. You are an Oz puppet of the Oz fund naked shorters. You’ve gone too far and you stick out like a beacon lol! IMHO DYOR
And once again spread is wafer thin how bizarre! I can sell both large holdings but cannot buy them it’s off into NT obviously! Currently most anyone can buy live quote is max 6.6k not alot is it then NT! Smoke and mirrors play. IMHO DYOR
26-Apr-24 09:05:25 0.1637 51,250,123 Unknown* 0.16 0.165 83.90k
And another example! Where o where did thou get these from Mr Market Makers? Pray do tell! Unbelievable but hey they aren’t hitting the market until next week? So where did they come from? Perhaps Scrotum126 or OldDuffer could write their thesis on this? This can’t be a genuine short at this level to be dropped in just above placing price there’s no point at this juncture. Naked shorting? Are they trying it on to cover? No genuine holders would follow suit to sell now in any worthwhile volume that’s for sure. Hey MM we see you and it’s all noted. All the while MM happy to allow me to sell them my two large tranches all in one go! Company sit idly by and do nothing when massive trades being made pre submission to the market of the actual placing stock next week and you naive folk think forward selling isn’t/ hasn’t happened. I would be mindul of that next week when the charade is played out of the placing shares entering when reality is they have been and gone now over past weeks. Don’t let the shorts left off by following that fake narrative - I would be buying up all I can now and next week! IMHO DYOR
So take a look at PK’s latest affidavit! Can’t believe they sent this only on 11th April, six days before LOI were needed. I note they haven’t actually included the teaser pdf to court info- I would like to see a copy of it. If you want contact details eg Spectrum, Latium and BP - they are all on the email that he’s attached. IMHO DYOR
So buys or sells…because of course it is not legal to forward sell shares that are not due until next week so where o where is all this large amount of stock today and yesterday coming from considering the low volume we’ve seen today…questions questions! And you still think it is not forward sold? Churn it quicker quicker normalcy resumes! Either way buys good or placing stock being sold good! IMHO DYOR
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
24-Apr-24 10:06:40 0.167 15,000,000 Unknown* 0.165 0.17 25.05k O
24-Apr-24 11:44:57 0.167 30,000,000 Unknown* 0.165 0.17 50.10k O
24-Apr-24 11:21:02 0.169 15,000,000 Unknown* 0.165 0.17 25.35k O
24-Apr-24 07:33:21 0.165 25,000,000 Unknown* 0.165 0.17 41.25k O
24-Apr-24 08:25:32 0.168 25,000,000 Unknown* 0.165 0.17 42.00k O
24-Apr-24 07:29:41 0.165 25,000,000 Unknown* 0.165 0.17 41.25k O
24-Apr-24 08:25:24 0.168 25,000,000 Unknown* 0.165 0.17 42.00k O
24-Apr-24 13:09:48 0.167 15,000,000 Unknown* 0.165 0.17 25.05k O
25-Apr-24 17:05:48 0.17 1,500,000 Unknown* 0.165 0.17 2,550 O
25-Apr-24 15:51:51 0.1664 30,000,000 Unknown* 0.165 0.17 49.92k O
RBM - But surely if as is one of their (BP) suggested remedies to have a longer SISP process and sale process then we may have some chance of actually getting the price and true value of our assets in a sale to a 3rd party rather than this quick fire round which has demonstrated, was not an appropriate timescale in which to do so. IMHO DYOR
That’s very true on the media front! I think their (BP) legal objections are totally valid to the AVO - that as well as being unfair to them it was indeed too short time period for such huge assets to find a buyer. I’m intrigued what PK will respond with to this as we have all said there wasn’t enough time to sort. Also am I alone in feeling they are simply wanting to get it all done and shout next. I honestly thought when we eventually heard that PK had been appointed to restructure that there would be better solutions to work through instead it just feels like a cookie cutter approach and feel very let down by him and even KSV. IMHO DYOR
Apparently PK wrote to a shareholder this on 8/4/2024 and NG KSV was copied in
PK wrote
‘We have undertaken extensive reach out efforts including sending over 160 teasers to both strategic and financial potential buyers and the data set is robust for potential purchasers’ and
‘Indications of value are due within 10 ten days so that will give insight i to actual value and from indications this company will likely not be public going forward’
NG responded to the shareholder with this comment in response to above
‘This is precisely correct. The market will speak to value‘
Unbelievable right well it absolutely did not! Also he said 137 in the affadvit?? So do we get a 2nd go then now BP are not happy with this. IMHO DYOR
Saint yes this has always been a question never answered and bloody annoyed me, I mean come on how quick it all was
‘PK and Province REPLY to Arthur and Tom Dec 19th accepting the gig so they obviously contacted him weeks or months before the JV pulled the plug.‘
Well now looks like BP might just fight back and unwind this quick sale SHB nonsense as they are arguing against it! IMHO DYOR
Well BP are not happy basically saying all the things we have been saying that the process was far too short! Look at this -
‘The efforts to market the COPL assets were focused on a defined pool of recipients. A press release was issued, but not a solicitation. No general solicitation was made through relevant industry publications, so the entirety of the marketing pool was limited to the targeted recipients.
(b) The solicitation period was very short. This is not uncommon in CCAA proceedings, due to prevailing constraints, but the fact it’s common, to run shorter processes, does not reduce the importance of ensuring effectiveness. In this case, interested parties were afforded very little time to discover and assess a complex operational package, with a notional floor value exceeding $55MM.
(c) BP was advised by at least one potential purchaser that he made inquiries within the solicitation period and received no response.‘ ‘
Unbelievable and yet believable that they dd not respond! IMHO DYOR
Yankee a quick peruse looks like they BP want it refused and not approve the AVO for the SHB?
‘18. Should the Proposed AVO be approved?
19. It is submitted the Proposed AVO fails to meet the applicable statutory and common law requirements for a vesting order, particularly in view of the attempted extinguishment of BP’s senior creditor position.
20. The requested relief must be refused, and COPL may pursue various reasonable alternatives in its restructuring path.‘
I like the end bit! IMHO DYOR
Does anyone not think it is very odd that neither the company or PK who both got the shorting information (that guy who highlighted it on here was truly terrific) but didn’t contact the authorities in Canada or UK? PK amended the affadvit application slightly to include but that’s all there was no actual full detail. He told one shareholder the following in response to asking if they had informed the regulators of this shorting action which I find quite shocking! He was afterall interim CEO at the time. I think this shows the measure of him and to think once I thought he would be the saviour!
‘Anavio is not the senior secured lender, the stalking horse bidder or actively participating in the sales process. If you have concerns with their prior behavior you should pursue them yourself. ‘
that says it all doesn’t it. This is why we absolutely need to get that general meeting back on asap. We should all be emailing him and asking, nay demanding! IMHO DYOR