Posted On: 02/10/2015 11:41:56 PM
Post# of 1145
I'm updating you guys on a warning issued in this video about POET Technologies.
http://www.bnn.ca/Video/player.aspx?vid=548903
An investment manager warns about the risk of Pinetree (PNP) liquidating their stake in PTK/POETF.
Its true, Sheldon Inwentash the (ex)CEO of Pinetree was recently removed as CEO because his Fund was in breach with a debt covenant. They negotiated a Forbearance Agreement, which gave him more time, but he has to come up with +- $20 mil by this summer, so the chance is more than likely that PNP needs to sell some of their assets to cure the default on that debenture.
I hope my succinct explanation is accurate, correct me if I'm wrong, but thats how I understand it.
If you wish to know more please research this whole issue in detail. (I'm no expert in these matters)...
Whatever the outcome, Sheldon & PNP hold a substantial amount of Common shares, as well as Warrants & Options. (See below) He/they could do some serious damage if they were somehow forced to sell. Don't know if they'll sell PTK/POETF but lets not be naive either. With a grand total of nearly 30 mil shares that does pose a potential threat that can't be denied. Matter of fact he did sell a portion 10 days ago or so, tho this was a private transaction, not affecting the public market. We shall see how this pans out...
Here are the total holdings of Sheldon Inwentash/Pinetree Capital:
Inwentash, Sheldon Common Shares: 1,359,500
Pinetree Capital Common Shares Self Directed RRSP: 2,912,500
Options: 500,000
Warrants Self Directed RRSP: 4,696,000
Patricio, Richard (replaced Sheldon)
Common Shares: 100,000
Common Shares Pinetree Capital Ltd: 12,846,185
Warrants: 250,000
Warrants Pinetree Capital Ltd: 6,275,385
Warrants Totus Inc: 200,000
Common Shares: 17,218,185
Options: 500,000
Warrants: 11,421,385
Pinetree/Sheldon' Totals: 29,139,570
http://www.bnn.ca/Video/player.aspx?vid=548903
An investment manager warns about the risk of Pinetree (PNP) liquidating their stake in PTK/POETF.
Its true, Sheldon Inwentash the (ex)CEO of Pinetree was recently removed as CEO because his Fund was in breach with a debt covenant. They negotiated a Forbearance Agreement, which gave him more time, but he has to come up with +- $20 mil by this summer, so the chance is more than likely that PNP needs to sell some of their assets to cure the default on that debenture.
I hope my succinct explanation is accurate, correct me if I'm wrong, but thats how I understand it.
If you wish to know more please research this whole issue in detail. (I'm no expert in these matters)...
Whatever the outcome, Sheldon & PNP hold a substantial amount of Common shares, as well as Warrants & Options. (See below) He/they could do some serious damage if they were somehow forced to sell. Don't know if they'll sell PTK/POETF but lets not be naive either. With a grand total of nearly 30 mil shares that does pose a potential threat that can't be denied. Matter of fact he did sell a portion 10 days ago or so, tho this was a private transaction, not affecting the public market. We shall see how this pans out...
Here are the total holdings of Sheldon Inwentash/Pinetree Capital:
Inwentash, Sheldon Common Shares: 1,359,500
Pinetree Capital Common Shares Self Directed RRSP: 2,912,500
Options: 500,000
Warrants Self Directed RRSP: 4,696,000
Patricio, Richard (replaced Sheldon)
Common Shares: 100,000
Common Shares Pinetree Capital Ltd: 12,846,185
Warrants: 250,000
Warrants Pinetree Capital Ltd: 6,275,385
Warrants Totus Inc: 200,000
Common Shares: 17,218,185
Options: 500,000
Warrants: 11,421,385
Pinetree/Sheldon' Totals: 29,139,570
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