Holy cow! I cant believe how horribly this is going for YLO!
Talk about a stinker.
It is truly a shame to see how a business that had solid revenues and opportunity to compete in the world, put them selves in such a bad situation with debt. They still could be a very valuable business today, but I guess if you get greedy management operating the company, this is the result you get.
I am sure they are all laughing walking to the bank, but to bad future leaders and shareholders have no continual opportunity.
What a shame.
little bump today..up to .09.
If they go into
The Companies' Creditors Arrangement Act (commonly referred to as the "CCAA" or the "CC, double A") is a Federal Act that allows financially troubled corporations the opportunity to restructure their affairs. By allowing the company to restructure its financial affairs, through a formal Plan of Arrangement, the CCAA presents an opportunity for the company to avoid bankruptcy and allows the creditors to receive some form of payment for amounts owing to them by the company.
Then it becomes a absolute gamble (as if it ain't allready). Cause the common shares can be traded while under CCAA (if the judge allows it)
I tryed this with Quebecore B a few years back.. and lost.