Some thoughts.
My take for what it's worth--- If CWRN was ever going to get out from under all the BS they had been part of they basically need to start over. We are learning a few sides to the story all at once.
Whether it ends up good or bad will be determined completely by how well the company being formed acts like a legitimate company. Complete transparency at all times good or bad. Completing all filings, audited and on time. (extensions are allowed when properly filed for).
PRs are used when they should be to report material events within the company. Any and all information about the mine becomes public knowledge.
I'm wondering if that huge block of shareholders has taken over the company. I could be wrong but over the last few years I believe I have read that they have provided cash. (could be wrong)
While reverse splits suck, isn't that what we were going to need at some point to reach any higher exchanges? A straight up reverse split in a legitimate company wouldn't have a direct influence on the price or what anyone owns. Technically the shares are reduced by the same amount the share price is multiplied by. This is only the way it should work if legitimate. Now look at the number of outstanding shares.
Pre split there are what 7 billion AS shares. Divide that by 1000 and you come up with 7million AS shares.
If the new company is legit in any way and there are only 7 million shares outstanding what kind of valuation would the company have if they shipped a panamax every so often. Including the fact that it was the first panamax out of Ensanda in the PR seemed to be making a point to me for some reason. If this company can mine and ship the way the old one was supposed to and they only have (possibly for the moment) 7million outstanding what would a share price be worth. You would be taking in a dollar per share on each panamax.
While we don't have any details yet, the fact that there is no mention of certain shares being excluded from the reverse split means everyone is taking the same hit.
This announcement seems to be falling within the same window of time as the litigation is scheduled to be wrapped up. Cleaning up the mess from the past.
We learned about the good--the shipment and the breakdown of what was shipped. We learned about the bad--the debt-it's effect and severity. We learned we could most likely get past it. We learned about the split.
If this is the new companies format, at least we are getting both good and bad. Isn't that what legitimate would bring? If we get follow up details explaining things, we will be getting everything the dark side has been looking for. Isn't that what a legit company would do?
If this company can put out any of the types of PRs we have been hoping for,(contracts legit time frames) then the new company could basically become what we had hoped the old company would become.
