FMA / FracMaster Message Board

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Microcap & Penny Stocks : FMA / FracMaster

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To: Ulster1 who wrote (218)	5/18/1999 5:11:00 PM
From: jsavage	Read Replies (1) of 233

I'd say he'd buy the assets and start all over as a private entity. He, just like UTI and CALFRAC, is playing a new game now. Who has the most cash? Balm had presented an option under CCAA statutes which required everyones' interest be accounted for in some fashion. Under receivership, he doesn't have that burden to live up to. He is doing what is necessary to "win the bid". UTI's offer was for $60 m, Balms bid was for $97 m including the aid to shareholders and vendors. Now that the shareholder / vendor protection aspect is out of the scenario, Balm is still more than likely good for his offer, he just doesn't have to acknowledge our existence anymore. He probably will still include some sort of package for the vendors because they have something he needs, but the shareholders lost any leverage we had when it left the realm of the CCAA and entered the "receivership zone". Unfortunately, none of the offers will have any residual effect on the shareholders. DAMNIT!!!!

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