Of the following note, does it mean that after the "trading temporarily suspended" until 11:59PM EST on 02/20/2013, this stock will continue to be traded in OTC starting 02/21/2013 again?

Note=Trading temporarily suspended by the SEC pursuant to Section 12(k) of the Securities and Exchange Act of 1934 from 9:30 AM EST on 02/06/2013 through 11:59 PM EST on 02/20/2013

Didn't long ago that just on the date of filing CCAA we thought the CVR is 49%?

35%+10% =45%. We saved 4%, is it?

But I hate the clause that after first 700m, it will be only 2% to management.
I think most likely situation is a settlement or buyout because the Chinese is running on their clock too,
but the incentives to get a settlement above 700m is just imbalance to imbalance to the incentives under 700m. That leads me to believe that management and/or tenor is looking at the 700m figure valuation of this arbitration.

10% interest to keep management in the game I think is a very fair game. We have to pay for them to stick here. And sorry, that causes money for sure. But i would hope the % after 700m to management will increase to 15% rather than decrease to 2% because it gives them more incentives for a better settlement target.

Just curious, didn't we have 100m of debt outstanding? How does this 36m help? Is this 36m the extra beside the lender will also settle the 100m debt, so the total of the financing is 136m? The language in the pr doesn't sound like a 136m dip financing.

I would hope that means they already sorted out the DIP winner but is discussing with the noteholders to buy in so that it will be easily approve on the court. So we are still within the dip process but only working to wrap things up not determining what dip to go for.

Even with dip financing but if our major creditors do not buy in, the process couldn't be done. I always believe that there is so much behind the scene happening before everything are put in front of the court.

Just curious, for those that invested in kry, not CRYXF, can they request their financial institution for their stock papers? I was working for a private company, and there was an acquisition last year that I had to work with the legal council to print out the stock certificates with each shareholder's name on it.

If we can, for those who thinks the game is over, you will now own assets and I am sure there will be people likes me who will be interested to accumulate stock certificate at low price at this point, say 1cent per 10 kry stock certificates.

What is CCAA?

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.

The CCAA is restricted to larger corporations, as a corporation must have amounts owing to creditors in excess of $5 million to be eligible to use the Act. Corporations that do not reach this $5 million threshold can utilize the Division I Proposal under the Bankruptcy and Insolvency Act. The CCAA also allows a company, if it so chooses, to address its shareholders in addition to its creditors. Typically, when the shareholders of the company are impacted by the Plan of Arrangement, they are often given the opportunity to vote on the Plan.

The process begins in the Court system when the company applies to the Court for protection under the CCAA. The Court will issue an Order giving the company 30 days of protection (often referred to as the "Stay") from its creditors to allow for the preparation of the Plan of Arrangement. The Court can extend the Stay against the creditors upon further application to the Court by the company. Typically, the Court will continue the protection beyond the initial 30-day period if the company can demonstrate that it is likely that it will file a Plan of Arrangement and an extension of the Stay is not prejudicial to the creditors, as a whole. There is no time limit on how long the Stay can be extended. During the Stay period, the company will often continue operating, although it may commence restructuring activities at any time.

A Monitor is an independent third party who is appointed by the Court to monitor the company's ongoing operations and assist with the filing and voting on the Plan of Arrangement. The Monitor's duties include monitoring the business, reporting to the Court on any major events that might impact the viability of the company, assisting the company in the preparation of the Plan of Arrangement, notifying the creditors (and shareholders) of any meetings and tabulating the votes at these meetings. The Monitor prepares a report on the Plan of Arrangement that is usually included in the mailing of the Plan.

The Plan of Arrangement is the proposal that the company is presenting to its creditors on how it intends to deal with debt it owes at the time of the initial filing with the Court. There are no restrictions on what the Plan can entail. It is not uncommon to see offers to pay a percentage on the dollar of debt, either as a lump sum or over a period of time. Plans can include an offer of shares of the company in exchange for the debt outstanding or a combination of cash and shares. The debtor can identify a particular creditor or group of creditors as "unaffected." Unaffected creditors are included in the Plan and are not to be paid in the normal course. One of the benefits of the CCAA is that it allows for this flexibility when trying to put together a Plan.

In order to be able to vote on the Plan and receive any distribution under it, a creditor must file a Proof of Claim with the Monitor. The Proof of Claim sets out what is owed to the creditor and is reviewed by the Monitor and the company. Any discrepancies between the creditor's Proof of Claim and the company's records are investigated by the company. The Plan will outline the procedures for dealing with disputed claims.

Ultimately, the company files its Plan of Arrangement and forwards it to the creditors/shareholders. A meeting of the creditors (and shareholders, if applicable) is called to vote on the Plan. For the Plan to be binding on each class of creditors, a majority of the proven creditors in that class, by number, together with 2/3 of the proven creditors in that class, by dollar value, must approve of the Plan presented to them. If a class of creditors approves the Plan, it is binding on all creditors within the class, subject to the Court's approval of the Plan. If all of the classes of creditors (and shareholders, if applicable) approve the Plan, the Court must then approve the Plan as a final step. Upon Court approval, the company continues forward as outlined under the Plan until it has satisfied the requirements under the Plan.

If a class of creditors or the Court does not approve the Plan, the company does not automatically go into bankruptcy, but the Stay is lifted. However, once the Stay has been lifted, the pressures that caused the company to initially file for CCAA protection from its creditors will likely return and, accordingly, it is quite likely that the company will be placed into receivership or bankruptcy.