Ponzi Scheme?, page-76

The Administrators are working for the creditors - and they are working as hard as they can to pay them off.
I think the point is the value is zero for shareholders (yes the last in line).

Staff on the ground should still see some value - creditors will see as much as they can ( the trees will grow larger every day) and the administrators will pay themselves first - usually for as long as they can.

We all saw the other forestry firms fold and TFS was the last man standing - we all believed that they had learnt the lessons and were better because of that.
If you were a long time holder and followed the company - there were tell tale signs over marketing etc which did not add up - there were plenty of opaque transactions with middle east money which was not explained or was not clear what was happening (big money deals).

I sold out at approx $1.20 and was able to exit after many many years with a profit (thus the cost was time wasted for me).

I feel sorry for the investors who have to take a big haircut on this one - management knew what the position was, well in advance.

Andy