Diamond & Specialty Minerals Summary for Oct. 6, 2016
2016-10-06 21:09 ET - Market Summary
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Your comments on TGX here are at best inaccurate, and at worst, well who knows...just like this stock.
Posted by inthekettle at 2016-10-07 11:21
Oh, really.
Well, once again, I see it's sitting "no bid." So you're not referring to that.
As for its financial status. The company had $345,653 in current assets and $7.4-million in current liabilities as of June 30th.
What's inaccurate?
Cheers,
Will
Posted by Will Purcell at 2016-10-07 14:34
To know what you are inferring, you would have to know what the subsidiary asset sold for.
Do you know what the subsidiary asset sold for?
All we know is that the subsidiary asset sold for an amount exceeding the binding bid that TGX made.
Do you know what TGX bid?
Was the TGX bid so low that they could be beaten by a bid that nets zero back to TGX?
Unlikely, in my opinion.
You cast a dark shadow. What do you know that we don't? The only thing likely to put TGX in bankruptcy is the lawsuits if it unfolds the way you seem to be inferring.
If you want half a cent for your shares, you can get half a cent for your shares... "hours on end", or not, they are being bought up.
Posted by inthekettle at 2016-10-07 21:20
Actually, "hours on end" was probably being charitable. The stock has sat at one-half cent "ask" for hours on end, and the only trading occurs when some risk-averse investor decides to hit the ask -- not that they could go lower.
As for what the asset sold for and what True North is likely to get for what it is owed, I'll not get too involved in that. I've seen too many companies go down that road before.
I think it's pretty hard to argue against the statement that the company is "edg[ing] ever closer to bankruptcy," given the events of this year, including the latest event, just days ago, that saw its bid for the asset fall short.
Nevertheless, I hope it works out for you.
Will
Posted by Will Purcell at 2016-10-09 18:00
Clearly a terrible situation for shareholders. You provide an editorial opinion with incomplete/partial information, and I won't waste anyone's time getting bogged down in parsing the minutia of that.
You obviously know a lot of players, and are informed. So really the question a reader must decipher is, is it altruism or greed that motivates what you write?
Otherwise, you provide a professional and reasonably entertaining read. So thanks for that.
The end.
Posted by inthekettle at 2016-10-10 11:00
It certainly is a terrible situation for shareholders.
I thank you for the compliment, backhanded or otherwise, and I'll let you decide my motivation for writing.
Hopefully it is *not* the end.
Cheers,
Will
Posted by Will Purcell at 2016-10-10 13:02
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